Sunpointe LLC Sells 285 Shares of Costco Wholesale Corporation (NASDAQ:COST)

Sunpointe LLC lessened its position in shares of Costco Wholesale Corporation (NASDAQ:COST) by 34.6% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 538 shares of the retailer’s stock after selling 285 shares during the period. Sunpointe LLC’s holdings in Costco Wholesale were worth $509,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of COST. Investment Management Corp VA ADV bought a new stake in shares of Costco Wholesale during the 4th quarter valued at about $25,000. Aspect Partners LLC boosted its holdings 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 buying an additional 11 shares in the last quarter. Capital A Wealth Management LLC bought a new position in shares of Costco Wholesale during the 4th quarter worth approximately $58,000. Mascagni Wealth Management Inc. acquired a new stake in shares of Costco Wholesale during the 4th quarter worth approximately $59,000. Finally, Bank & Trust Co increased its stake in shares of Costco Wholesale by 20.4% in the 1st quarter. Bank & Trust Co now owns 65 shares of the retailer’s stock valued at $61,000 after acquiring an additional 11 shares in the last quarter. Institutional investors own 68.48% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Patrick J. Callans sold 3,000 shares of Costco Wholesale stock in a transaction on 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 sale, the executive vice president directly owned 58,543 shares in the company, valued at approximately $58,705,164.11. This trade represents a 4.87% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Pierre Riel sold 2,000 shares of the company’s stock in a transaction on Friday, June 6th. The shares were sold at an average price of $1,014.15, for a total value of $2,028,300.00. Following the completion of the transaction, the executive vice president owned 8,210 shares of the company’s stock, valued at $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 three months, insiders sold 9,547 shares of company stock valued at $9,472,510. Insiders own 0.18% of the company’s stock.

Costco Wholesale Price Performance

COST opened at $935.48 on Monday. Costco Wholesale Corporation has a 1 year low of $793.00 and a 1 year high of $1,078.23. 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 $414.87 billion, a price-to-earnings ratio of 53.06, a P/E/G ratio of 5.82 and a beta of 0.97. The firm’s fifty day moving average price is $992.04 and its two-hundred day moving average price is $984.23.

Costco Wholesale (NASDAQ:COST) last released its quarterly earnings results on Thursday, May 29th. The retailer reported $4.28 earnings per share 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 business had revenue of $63.21 billion for the quarter, compared to analysts’ expectations of $62.93 billion. During the same period in the previous year, the company earned $3.78 earnings per share. The firm’s revenue for the quarter was up 8.0% compared to the same quarter last year. As a group, analysts anticipate that Costco Wholesale Corporation will post 18.03 earnings per share for the current fiscal year.

Costco Wholesale Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Friday, August 1st will be issued a $1.30 dividend. This represents a $5.20 annualized dividend and a dividend yield of 0.56%. The ex-dividend date of this dividend is Friday, August 1st. Costco Wholesale’s dividend payout ratio is presently 29.50%.

Wall Street Analysts Forecast Growth

COST has been the topic of several research analyst reports. Evercore ISI cut their target price on shares of Costco Wholesale from $1,075.00 to $1,060.00 and set an “outperform” rating on the stock in a research note on Tuesday, June 17th. Truist Financial increased their price objective on shares of Costco Wholesale from $995.00 to $1,042.00 and gave the stock a “hold” rating in a research report on Friday, May 30th. Stifel Nicolaus set a $1,035.00 target price on Costco Wholesale in a research note on Thursday, May 29th. Loop Capital dropped their price target on Costco Wholesale from $1,115.00 to $1,110.00 and set a “buy” rating on the stock in a research note on Thursday, May 29th. Finally, Cfra Research upgraded Costco Wholesale from a “hold” rating to a “moderate buy” rating in a report on Friday, April 4th. Nine analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $1,037.48.

Costco Wholesale 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.