Concord Wealth Partners Sells 1,510 Shares of Costco Wholesale Corporation (NASDAQ:COST)

Concord Wealth Partners lessened its holdings in Costco Wholesale Corporation (NASDAQ:COST) by 35.0% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,805 shares of the retailer’s stock after selling 1,510 shares during the quarter. Concord Wealth Partners’ holdings in Costco Wholesale were worth $2,653,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Investment Management Corp VA ADV bought a new stake in Costco Wholesale during the fourth quarter worth about $25,000. Clear Investment Research LLC lifted its position in Costco Wholesale by 22.2% during 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 period. Aspect Partners LLC lifted its position in Costco Wholesale by 24.4% during 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 period. Capital A Wealth Management LLC bought a new stake in Costco Wholesale during the fourth quarter worth about $58,000. Finally, Mascagni Wealth Management Inc. bought a new position in shares of Costco Wholesale in the fourth quarter worth about $59,000. Institutional investors own 68.48% of the company’s stock.

Insider Buying and Selling

In other news, Director Susan L. Decker sold 547 shares of the firm’s stock in a transaction on Wednesday, June 18th. The stock was sold at an average price of $980.00, for a total transaction of $536,060.00. Following the completion of the sale, the director directly owned 11,531 shares of the company’s stock, valued at $11,300,380. This trade represents a 4.53% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Patrick J. Callans sold 3,000 shares of the firm’s stock in a transaction on Monday, June 9th. The shares were sold at an average price of $1,002.77, for a total value of $3,008,310.00. Following the sale, the executive vice president directly owned 58,543 shares of the company’s stock, valued at approximately $58,705,164.11. This represents a 4.87% 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 valued at $9,472,510 in the last 90 days. Insiders own 0.18% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Evercore ISI dropped their target price on shares of Costco Wholesale from $1,075.00 to $1,060.00 and set an “outperform” rating for the company in a report on Tuesday, June 17th. 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 report on Friday, May 30th. Telsey Advisory Group reissued an “outperform” rating and issued a $1,100.00 target price on shares of Costco Wholesale in a report on Thursday, July 10th. Cfra Research raised shares of Costco Wholesale from a “hold” rating to a “moderate buy” rating in a report on Friday, April 4th. Finally, Stifel Nicolaus set a $1,035.00 target price 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 have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $1,037.48.

Costco Wholesale Stock Performance

Shares of COST stock opened at $951.37 on Thursday. The company has a market cap of $421.91 billion, a price-to-earnings ratio of 53.96, a price-to-earnings-growth ratio of 6.02 and a beta of 0.97. Costco Wholesale Corporation has a 52 week low of $793.00 and a 52 week high of $1,078.24. The company has a quick ratio of 0.52, a current ratio of 1.02 and a debt-to-equity ratio of 0.21. The firm has a 50 day moving average of $1,001.13 and a 200-day moving average of $982.21.

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 analysts’ consensus estimates of $4.24 by $0.04. Costco Wholesale had a return on equity of 30.48% and a net margin of 2.92%. The company had revenue of $63.21 billion for the quarter, compared to analysts’ expectations of $62.93 billion. During the same period last year, the business earned $3.78 EPS. Costco Wholesale’s quarterly revenue was up 8.0% compared to the same quarter last year. On average, equities analysts forecast that Costco Wholesale Corporation will post 18.03 earnings per share for the current year.

Costco Wholesale Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Friday, August 1st will be paid a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 0.55%. Costco Wholesale’s dividend payout ratio (DPR) is presently 29.50%.

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.