Fonville Wealth Management LLC Cuts Stake in Costco Wholesale Corporation (NASDAQ:COST)

Fonville Wealth Management LLC lessened its stake in Costco Wholesale Corporation (NASDAQ:COST) by 10.2% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 442 shares of the retailer’s stock after selling 50 shares during the quarter. Fonville Wealth Management LLC’s holdings in Costco Wholesale were worth $418,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of COST. Investment Management Corp VA ADV purchased a new stake in Costco Wholesale in the 4th quarter worth $25,000. Clear Investment Research LLC increased its holdings in shares of Costco Wholesale by 22.2% in the fourth 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 holdings in shares of Costco Wholesale by 24.4% in the first quarter. Aspect Partners LLC now owns 56 shares of the retailer’s stock worth $53,000 after purchasing an additional 11 shares during the last quarter. Capital A Wealth Management LLC purchased a new stake in shares of Costco Wholesale in the fourth quarter worth about $58,000. Finally, Mascagni Wealth Management Inc. bought a new position in Costco Wholesale during the fourth quarter valued at approximately $59,000. Institutional investors own 68.48% of the company’s stock.

Costco Wholesale Trading Down 1.2%

Shares of COST opened at $970.17 on Friday. The firm has a market capitalization of $430.25 billion, a price-to-earnings ratio of 55.03, a PEG ratio of 6.11 and a beta of 0.97. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.02 and a quick ratio of 0.52. Costco Wholesale Corporation has a 1-year low of $793.00 and a 1-year high of $1,078.24. The company has a 50-day moving average of $1,004.53 and a 200 day moving average of $981.82.

Costco Wholesale (NASDAQ:COST) last posted its quarterly 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 during the quarter, compared to the consensus estimate of $62.93 billion. Costco Wholesale had a net margin of 2.92% and a return on equity of 30.48%. The company’s revenue was up 8.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.78 earnings per share. On average, research analysts expect that Costco Wholesale Corporation will post 18.03 EPS for the current year.

Costco Wholesale Increases Dividend

The company also recently announced 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. The ex-dividend date was Friday, May 2nd. This is a positive change from Costco Wholesale’s previous quarterly dividend of $1.16. This represents a $5.20 dividend on an annualized basis and a yield of 0.54%. Costco Wholesale’s payout ratio is 29.50%.

Insider Transactions at Costco Wholesale

In other Costco Wholesale news, EVP Pierre Riel sold 2,000 shares of the stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $1,014.15, for a total transaction of $2,028,300.00. Following the transaction, the executive vice president directly owned 8,210 shares in the company, valued at $8,326,171.50. This represents a 19.59% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Susan L. Decker sold 547 shares of the firm’s stock in a transaction dated Wednesday, June 18th. The shares were sold at an average price of $980.00, for a total transaction of $536,060.00. Following the transaction, the director directly owned 11,531 shares in the company, valued at $11,300,380. This trade represents a 4.53% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 9,547 shares of company stock valued at $9,496,950 over the last 90 days. 0.18% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have recently issued reports on COST shares. Wall Street Zen raised Costco Wholesale from a “hold” rating to a “buy” rating in a report on Friday, June 6th. Telsey Advisory Group restated an “outperform” rating and issued a $1,100.00 price target on shares of Costco Wholesale in a research report on Thursday. Truist Financial increased their price objective on shares of Costco Wholesale from $995.00 to $1,042.00 and gave the company a “hold” rating in a research report on Friday, May 30th. Morgan Stanley lifted their price objective on shares of Costco Wholesale from $1,150.00 to $1,225.00 and gave the stock an “overweight” rating in a research note on Friday, May 30th. Finally, Mizuho initiated coverage on shares of Costco Wholesale in a research report on Friday, April 11th. They set a “neutral” rating and a $975.00 target price on the stock. Nine analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company’s stock. Based on data from MarketBeat, Costco Wholesale currently has a consensus rating of “Moderate Buy” and a consensus price target 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.