Costco Wholesale Corporation (NASDAQ:COST) Stake Cut by Arcadia Investment Management Corp MI

Arcadia Investment Management Corp MI decreased its position in Costco Wholesale Corporation (NASDAQ:COST) by 6.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 23,969 shares of the retailer’s stock after selling 1,779 shares during the period. Costco Wholesale comprises 4.1% of Arcadia Investment Management Corp MI’s portfolio, making the stock its 5th largest holding. Arcadia Investment Management Corp MI’s holdings in Costco Wholesale were worth $22,670,000 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. Clear Investment Research LLC lifted its position 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 buying an additional 10 shares during the last quarter. Peninsula Wealth LLC increased its position in Costco Wholesale by 1.2% during the fourth quarter. Peninsula Wealth LLC now owns 818 shares of the retailer’s stock worth $749,000 after acquiring an additional 10 shares during the period. Bosun Asset Management LLC boosted its stake in Costco Wholesale by 1.6% during the fourth quarter. Bosun Asset Management LLC now owns 636 shares of the retailer’s stock worth $583,000 after buying an additional 10 shares in the last quarter. NFP Retirement Inc. boosted its stake in shares of Costco Wholesale by 1.1% in the 4th quarter. NFP Retirement Inc. now owns 980 shares of the retailer’s stock valued at $898,000 after purchasing an additional 11 shares in the last quarter. Finally, Coppell Advisory Solutions LLC lifted its position in Costco Wholesale by 0.3% during the 4th quarter. Coppell Advisory Solutions LLC now owns 3,437 shares of the retailer’s stock worth $3,163,000 after buying an additional 11 shares in the last quarter. Hedge funds and other institutional investors own 68.48% of the company’s stock.

Insider Buying and Selling

In related news, EVP Pierre Riel sold 2,000 shares of the business’s 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 directly owned 8,210 shares in the company, valued at approximately $8,326,171.50. The trade was a 19.59% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP James C. Klauer sold 4,000 shares of the company’s stock in a transaction that occurred on Thursday, April 17th. The stock was sold at an average price of $981.07, for a total value of $3,924,280.00. Following the transaction, the executive vice president owned 43,994 shares of the company’s stock, valued at approximately $43,161,193.58. This trade represents a 8.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 9,547 shares of company stock worth $9,496,950 in the last quarter. 0.18% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on COST shares. Truist Financial upped their price target on shares of Costco Wholesale from $995.00 to $1,042.00 and gave the company a “hold” rating in a report on Friday, May 30th. Evercore ISI cut their price objective on shares of Costco Wholesale from $1,075.00 to $1,060.00 and set an “outperform” rating for the company in a research report on Tuesday, June 17th. Telsey Advisory Group reiterated an “outperform” rating and issued a $1,100.00 price objective on shares of Costco Wholesale in a report on Thursday, July 3rd. Mizuho started coverage on shares of Costco Wholesale in a report on Friday, April 11th. They issued a “neutral” rating and a $975.00 price objective for the company. Finally, Stifel Nicolaus set a $1,035.00 price target on shares of Costco Wholesale in a report on Thursday, May 29th. Nine investment analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company. Based on data from MarketBeat, Costco Wholesale presently has an average rating of “Moderate Buy” and an average target price of $1,034.79.

Costco Wholesale Stock Performance

Shares of NASDAQ:COST opened at $985.84 on Wednesday. The company has a market cap of $437.20 billion, a P/E ratio of 55.92, a PEG ratio of 6.17 and a beta of 0.97. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.52 and a current ratio of 1.02. Costco Wholesale Corporation has a one year low of $793.00 and a one year high of $1,078.24. The business’s 50-day simple moving average is $1,005.36 and its 200 day simple moving average is $981.68.

Costco Wholesale (NASDAQ:COST) last posted its quarterly earnings results 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 analyst estimates of $62.93 billion. During the same period in the prior year, the company posted $3.78 EPS. The business’s revenue was up 8.0% compared to the same quarter last year. On average, sell-side analysts forecast that Costco Wholesale Corporation will post 18.03 earnings per share for the current fiscal year.

Costco Wholesale Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 16th. Investors of record on Friday, May 2nd were given a $1.30 dividend. This is a positive change from Costco Wholesale’s previous quarterly dividend of $1.16. The ex-dividend date was Friday, May 2nd. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.53%. Costco Wholesale’s dividend payout ratio (DPR) is 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.