WP Advisors LLC Trims Stake in Costco Wholesale Corporation (NASDAQ:COST)

WP Advisors LLC cut its position in Costco Wholesale Corporation (NASDAQ:COST) by 4.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,247 shares of the retailer’s stock after selling 52 shares during the period. WP Advisors LLC’s holdings in Costco Wholesale were worth $1,179,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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 position in shares of Costco Wholesale in the 4th quarter worth $25,000. Aspect Partners LLC lifted its holdings in shares of Costco Wholesale by 24.4% in the 1st quarter. Aspect Partners LLC now owns 56 shares of the retailer’s stock worth $53,000 after acquiring an additional 11 shares during the last quarter. Capital A Wealth Management LLC bought a new stake in shares of Costco Wholesale in the 4th quarter worth about $58,000. Mascagni Wealth Management Inc. bought a new stake in Costco Wholesale during the 4th quarter valued at about $59,000. Finally, Bank & Trust Co lifted its holdings in Costco Wholesale by 20.4% during the 1st quarter. Bank & Trust Co now owns 65 shares of the retailer’s stock valued at $61,000 after buying an additional 11 shares in the last quarter. 68.48% of the stock is owned by hedge funds and other institutional investors.

Costco Wholesale Trading Up 0.4%

Shares of Costco Wholesale stock opened at $980.98 on Monday. The business has a 50 day moving average price of $977.93 and a 200 day moving average price of $985.43. Costco Wholesale Corporation has a 1 year low of $837.63 and a 1 year high of $1,078.23. The company has a market capitalization of $435.05 billion, a P/E ratio of 55.64, a P/E/G ratio of 6.10 and a beta of 0.96. 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 (NASDAQ:COST) last announced its 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. 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 during the quarter, compared to the consensus estimate of $62.93 billion. During the same quarter in the previous year, the company posted $3.78 EPS. The firm’s revenue for the quarter was up 8.0% on a year-over-year basis. Sell-side analysts anticipate that Costco Wholesale Corporation will post 18.03 EPS for the current fiscal year.

Costco Wholesale Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Friday, August 1st will be issued a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date is Friday, August 1st. Costco Wholesale’s dividend payout ratio is currently 29.50%.

Insider Buying and Selling

In related news, EVP Yoram Rubanenko sold 4,000 shares of the firm’s stock in a transaction on Monday, July 14th. The stock was sold at an average price of $974.96, for a total transaction of $3,899,840.00. Following the transaction, the executive vice president directly owned 5,774 shares in the company, valued at $5,629,419.04. This trade represents a 40.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Susan L. Decker sold 547 shares of the stock in a transaction on Wednesday, June 18th. The stock was sold at an average price of $980.00, for a total value of $536,060.00. Following the completion of the sale, the director directly owned 11,531 shares in the company, valued at $11,300,380. This represents a 4.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 9,547 shares of company stock worth $9,472,510 in the last 90 days. 0.18% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have weighed in on COST shares. Wall Street Zen raised shares of Costco Wholesale from a “hold” rating to a “buy” rating in a research report on Friday, June 6th. Erste Group Bank cut shares of Costco Wholesale from a “buy” rating to a “hold” rating in a research note on Tuesday, August 5th. 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 Monday, August 4th. JPMorgan Chase & Co. boosted their target price on shares of Costco Wholesale from $1,115.00 to $1,160.00 and gave the company an “overweight” rating in a research note on Thursday. Finally, Morgan Stanley upped 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 report on Friday, May 30th. Ten equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Costco Wholesale has a consensus rating of “Moderate Buy” and an average target price of $1,050.00.

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.