PBMares Wealth Management LLC Sells 18 Shares of Costco Wholesale Corporation (NASDAQ:COST)

PBMares Wealth Management LLC cut its holdings in shares of Costco Wholesale Corporation (NASDAQ:COST) by 1.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,177 shares of the retailer’s stock after selling 18 shares during the period. PBMares Wealth Management LLC’s holdings in Costco Wholesale were worth $1,113,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Geode Capital Management LLC boosted its holdings in Costco Wholesale by 2.7% in the fourth quarter. Geode Capital Management LLC now owns 9,739,175 shares of the retailer’s stock valued at $8,901,249,000 after acquiring an additional 252,118 shares during the last quarter. F&V Capital Management LLC acquired a new stake in Costco Wholesale during the first quarter worth approximately $236,000. AMJ Financial Wealth Management increased its holdings in Costco Wholesale by 2.6% in the fourth quarter. AMJ Financial Wealth Management now owns 10,536 shares of the retailer’s stock worth $9,654,000 after purchasing an additional 270 shares in the last quarter. Umpqua Bank lifted its stake in Costco Wholesale by 14.7% in the fourth quarter. Umpqua Bank now owns 4,507 shares of the retailer’s stock valued at $4,134,000 after buying an additional 577 shares during the period. Finally, Curat Global LLC acquired a new stake in shares of Costco Wholesale during the 1st quarter worth approximately $241,000. 68.48% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently issued reports on COST. Truist Financial increased their target price on shares of Costco Wholesale from $995.00 to $1,042.00 and gave the stock a “hold” rating in a research note on Friday, May 30th. Cfra Research raised Costco Wholesale from a “hold” rating to a “moderate buy” rating in a research report on Friday, April 4th. Mizuho began coverage on Costco Wholesale in a research note on Friday, April 11th. They set a “neutral” rating and a $975.00 price target on the stock. Stifel Nicolaus set a $1,035.00 price target on Costco Wholesale in a report on Thursday, May 29th. Finally, Loop Capital decreased their price objective on Costco Wholesale from $1,115.00 to $1,110.00 and set a “buy” rating for the company in a report on Thursday, May 29th. Nine research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $1,034.79.

Insider Buying and Selling

In other news, Director Susan L. Decker sold 547 shares of the business’s stock in a transaction that occurred on Wednesday, June 18th. The shares were sold at an average price of $980.00, for a total value of $536,060.00. Following the completion of the transaction, the director now owns 11,531 shares of the company’s stock, valued at $11,300,380. The trade was a 4.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Gary Millerchip sold 1,100 shares of the firm’s stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $940.01, for a total value of $1,034,011.00. Following the completion of the sale, the executive vice president now directly owns 11,165 shares in the company, valued at approximately $10,495,211.65. The trade was a 8.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 10,647 shares of company stock valued at $10,530,961 over the last ninety days. Corporate insiders own 0.18% of the company’s stock.

Costco Wholesale Stock Down 0.3%

Shares of NASDAQ COST opened at $1,001.92 on Wednesday. The company has a 50 day simple moving average of $1,003.94 and a 200-day simple moving average of $981.25. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.02 and a quick ratio of 0.52. The company has a market capitalization of $444.33 billion, a P/E ratio of 56.83, a P/E/G ratio of 5.93 and a beta of 1.00. Costco Wholesale Corporation has a 1 year low of $793.00 and a 1 year high of $1,078.24.

Costco Wholesale (NASDAQ:COST) last announced its quarterly earnings data on Thursday, May 29th. The retailer reported $4.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.24 by $0.04. Costco Wholesale had a return on equity of 30.48% and a net margin of 2.92%. The business had revenue of $63.21 billion for the quarter, compared to analysts’ expectations of $62.93 billion. During the same period last year, the firm earned $3.78 earnings per share. The company’s revenue for the quarter was up 8.0% compared to the same quarter last year. On average, equities research 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 disclosed a quarterly dividend, which was paid on Friday, May 16th. Shareholders of record on Friday, May 2nd were given a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 0.52%. This is a boost from Costco Wholesale’s previous quarterly dividend of $1.16. The ex-dividend date of this dividend was Friday, May 2nd. Costco Wholesale’s dividend payout ratio (DPR) is presently 29.50%.

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.