Boomfish Wealth Group LLC Sells 65 Shares of Costco Wholesale Corporation (NASDAQ:COST)

Boomfish Wealth Group LLC trimmed its holdings in Costco Wholesale Corporation (NASDAQ:COST) by 9.2% in the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 642 shares of the retailer’s stock after selling 65 shares during the quarter. Boomfish Wealth Group LLC’s holdings in Costco Wholesale were worth $607,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of COST. Cromwell Holdings LLC lifted its holdings in Costco Wholesale by 0.9% in the 4th quarter. Cromwell Holdings LLC now owns 1,144 shares of the retailer’s stock worth $1,048,000 after purchasing an additional 10 shares in the last quarter. 44 Wealth Management LLC lifted its holdings in Costco Wholesale by 0.3% in the 4th quarter. 44 Wealth Management LLC now owns 3,488 shares of the retailer’s stock worth $3,196,000 after purchasing an additional 10 shares in the last quarter. SRN Advisors LLC lifted its holdings in Costco Wholesale by 0.3% in the 4th quarter. SRN Advisors LLC now owns 3,081 shares of the retailer’s stock worth $2,823,000 after purchasing an additional 10 shares in the last quarter. Miramar Capital LLC lifted its holdings in Costco Wholesale by 1.9% in the 4th quarter. Miramar Capital LLC now owns 525 shares of the retailer’s stock worth $481,000 after purchasing an additional 10 shares in the last quarter. Finally, Clear Investment Research LLC lifted its holdings in Costco Wholesale by 22.2% in the 4th quarter. Clear Investment Research LLC now owns 55 shares of the retailer’s stock worth $51,000 after purchasing an additional 10 shares in the last quarter. 68.48% of the stock is currently owned by institutional investors.

Insider Activity at Costco Wholesale

In related news, EVP Patrick J. Callans sold 3,000 shares of the business’s stock in a transaction on Monday, June 9th. The stock was sold at an average price of $1,002.77, for a total transaction of $3,008,310.00. Following the completion of the transaction, the executive vice president now owns 58,543 shares in the company, valued at $58,705,164.11. The trade was a 4.87% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Gary Millerchip sold 1,100 shares of the business’s stock in a transaction on Thursday, March 27th. The shares were sold at an average price of $940.01, for a total value of $1,034,011.00. Following the transaction, the executive vice president now owns 11,165 shares of the company’s stock, valued at approximately $10,495,211.65. The trade was a 8.97% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 11,000 shares of company stock worth $10,825,205 in the last quarter. 0.18% of the stock is owned by company insiders.

Costco Wholesale Stock Performance

NASDAQ COST opened at $977.72 on Wednesday. The company has a market cap of $433.60 billion, a P/E ratio of 55.46, a P/E/G ratio of 5.81 and a beta of 1.00. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.52 and a current ratio of 1.02. The business’s 50 day moving average price is $1,002.19 and its 200-day moving average price is $981.16. Costco Wholesale Corporation has a fifty-two week low of $793.00 and a fifty-two week high of $1,078.24.

Costco Wholesale (NASDAQ:COST) last released its earnings results on Thursday, May 29th. The retailer reported $4.28 earnings per share for the quarter, beating the consensus estimate of $4.24 by $0.04. The firm had revenue of $63.21 billion for the quarter, compared to the consensus estimate of $62.93 billion. Costco Wholesale had a return on equity of 30.48% and a net margin of 2.92%. The company’s revenue for the quarter was up 8.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.78 EPS. Sell-side analysts predict that Costco Wholesale Corporation will post 18.03 earnings per share for the current year.

Costco Wholesale Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 16th. Stockholders of record on Friday, May 2nd were given a dividend of $1.30 per share. The ex-dividend date of this dividend was Friday, May 2nd. This represents a $5.20 annualized dividend and a dividend yield of 0.53%. This is an increase from Costco Wholesale’s previous quarterly dividend of $1.16. Costco Wholesale’s payout ratio is currently 29.50%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on COST shares. Mizuho started coverage on Costco Wholesale in a report on Friday, April 11th. They issued a “neutral” rating and a $975.00 price target on the stock. Cowen reissued a “buy” rating on shares of Costco Wholesale in a report on Friday, March 7th. Truist Financial boosted their price target on Costco Wholesale from $995.00 to $1,042.00 and gave the stock a “hold” rating in a report on Friday, May 30th. Loop Capital lowered their price target on Costco Wholesale from $1,115.00 to $1,110.00 and set a “buy” rating on the stock in a report on Thursday, May 29th. Finally, Telsey Advisory Group reissued an “outperform” rating and issued a $1,100.00 price target on shares of Costco Wholesale in a report on Tuesday, June 3rd. Nine research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company’s stock. Based on data from MarketBeat, Costco Wholesale presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,034.79.

Costco Wholesale Company Profile

Costco Wholesale Corporation, together with its subsidiaries, engages in the operation of membership warehouses in the United States, Puerto Rico, Canada, Mexico, Japan, the United Kingdom, Korea, Australia, Taiwan, China, Spain, France, Iceland, New Zealand, and Sweden. The company offers branded and private-label products in a range of merchandise categories.