EULAV Asset Management Sells 5,200 Shares of Costco Wholesale Corporation (NASDAQ:COST)

EULAV Asset Management lessened its holdings in shares of Costco Wholesale Corporation (NASDAQ:COST) by 8.3% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 57,100 shares of the retailer’s stock after selling 5,200 shares during the quarter. Costco Wholesale makes up approximately 1.3% of EULAV Asset Management’s portfolio, making the stock its 23rd largest holding. EULAV Asset Management’s holdings in Costco Wholesale were worth $54,004,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in COST. Investment Management Corp VA ADV bought a new stake in Costco Wholesale in the fourth quarter valued at $25,000. Clear Investment Research LLC grew its holdings in shares of 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 during the last quarter. Aspect Partners LLC increased its position in shares of Costco Wholesale by 24.4% during the 1st quarter. Aspect Partners LLC now owns 56 shares of the retailer’s stock worth $53,000 after purchasing an additional 11 shares in the last quarter. Capital A Wealth Management LLC bought a new position in Costco Wholesale during the 4th quarter valued at about $58,000. Finally, Mascagni Wealth Management Inc. bought a new position in Costco Wholesale during the 4th quarter valued at about $59,000. 68.48% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP Patrick J. Callans sold 3,000 shares of the business’s stock in a transaction dated 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 transaction, the executive vice president owned 58,543 shares in the company, valued at $58,705,164.11. The trade was a 4.87% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Pierre Riel sold 2,000 shares of the stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $1,014.15, for a total value of $2,028,300.00. Following the completion of the sale, the executive vice president owned 8,210 shares of the company’s stock, valued at approximately $8,326,171.50. This trade represents a 19.59% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 9,547 shares of company stock valued at $9,496,950. Company insiders own 0.18% of the company’s stock.

Costco Wholesale Price Performance

COST opened at $986.27 on Monday. 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 stock’s 50 day simple moving average is $1,005.20 and its 200 day simple moving average is $981.38. The firm has a market cap of $437.39 billion, a price-to-earnings ratio of 55.94, a PEG ratio of 6.14 and a beta of 0.97. 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 issued its earnings results on Thursday, May 29th. The retailer reported $4.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.24 by $0.04. Costco Wholesale had a net margin of 2.92% and a return on equity of 30.48%. The firm had revenue of $63.21 billion for the quarter, compared to analysts’ expectations of $62.93 billion. During the same quarter last year, the business earned $3.78 earnings per share. The business’s revenue was up 8.0% on a year-over-year basis. As a group, analysts predict that Costco Wholesale Corporation will post 18.03 earnings per share for the current year.

Costco Wholesale Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 16th. Stockholders of record on Friday, May 2nd were paid a dividend of $1.30 per share. 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. The ex-dividend date of this dividend was Friday, May 2nd. Costco Wholesale’s dividend payout ratio is 29.50%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on COST shares. Telsey Advisory Group reiterated an “outperform” rating and issued a $1,100.00 target price on shares of Costco Wholesale in a research note on Thursday. Loop Capital cut their price objective on Costco Wholesale from $1,115.00 to $1,110.00 and set a “buy” rating for the company in a research report on Thursday, May 29th. Morgan Stanley increased their target price on Costco Wholesale from $1,150.00 to $1,225.00 and gave the stock an “overweight” rating in a report on Friday, May 30th. Wall Street Zen raised Costco Wholesale from a “hold” rating to a “buy” rating in a report on Friday, June 6th. Finally, Stifel Nicolaus set a $1,035.00 price target on shares of Costco Wholesale in a research report on Thursday, May 29th. Nine investment analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $1,034.79.

About Costco Wholesale

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.