Novare Capital Management LLC Acquires 30 Shares of Costco Wholesale Co. (NASDAQ:COST)

Novare Capital Management LLC raised its holdings in shares of Costco Wholesale Co. (NASDAQ:COSTGet Rating) by 1.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,756 shares of the retailer’s stock after acquiring an additional 30 shares during the period. Novare Capital Management LLC’s holdings in Costco Wholesale were worth $1,011,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Fortune 45 LLC lifted its stake in Costco Wholesale by 8.6% in the first quarter. Fortune 45 LLC now owns 696 shares of the retailer’s stock worth $401,000 after acquiring an additional 55 shares during the period. CHICAGO TRUST Co NA lifted its stake in Costco Wholesale by 3.6% in the first quarter. CHICAGO TRUST Co NA now owns 6,081 shares of the retailer’s stock worth $3,502,000 after acquiring an additional 209 shares during the period. Twin Capital Management Inc. lifted its position in Costco Wholesale by 1.3% during the first quarter. Twin Capital Management Inc. now owns 7,728 shares of the retailer’s stock valued at $4,450,000 after buying an additional 101 shares during the period. Schmidt P J Investment Management Inc. increased its holdings in shares of Costco Wholesale by 117.4% during the first quarter. Schmidt P J Investment Management Inc. now owns 6,332 shares of the retailer’s stock valued at $3,367,000 after acquiring an additional 3,419 shares in the last quarter. Finally, Balentine LLC increased its holdings in shares of Costco Wholesale by 70.3% during the first quarter. Balentine LLC now owns 4,541 shares of the retailer’s stock valued at $2,615,000 after acquiring an additional 1,874 shares in the last quarter. 67.52% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Costco Wholesale news, VP James P. Murphy sold 1,500 shares of the firm’s stock in a transaction that occurred on Wednesday, July 20th. The stock was sold at an average price of $525.20, for a total value of $787,800.00. Following the sale, the vice president now directly owns 36,230 shares of the company’s stock, valued at $19,027,996. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Costco Wholesale news, VP James P. Murphy sold 1,500 shares of the stock in a transaction that occurred on Wednesday, July 20th. The stock was sold at an average price of $525.20, for a total transaction of $787,800.00. Following the completion of the transaction, the vice president now owns 36,230 shares of the company’s stock, valued at $19,027,996. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP James P. Murphy sold 2,500 shares of the stock in a transaction on Wednesday, June 22nd. The shares were sold at an average price of $464.00, for a total value of $1,160,000.00. Following the completion of the transaction, the vice president now directly owns 37,730 shares of the company’s stock, valued at $17,506,720. The disclosure for this sale can be found here. Insiders have sold a total of 5,300 shares of company stock valued at $2,609,904 over the last ninety days. Company insiders own 0.22% of the company’s stock.

Costco Wholesale Stock Down 1.2 %

Shares of COST stock traded down $6.78 during mid-day trading on Friday, hitting $536.50. The stock had a trading volume of 22,273 shares, compared to its average volume of 2,274,878. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.04 and a quick ratio of 0.48. The firm has a market capitalization of $237.65 billion, a P/E ratio of 42.78, a price-to-earnings-growth ratio of 4.57 and a beta of 0.69. Costco Wholesale Co. has a 12-month low of $406.51 and a 12-month high of $612.27. The firm’s 50-day moving average is $491.52 and its two-hundred day moving average is $514.76.

Costco Wholesale (NASDAQ:COSTGet Rating) last issued its quarterly earnings data on Thursday, May 26th. The retailer reported $3.17 earnings per share for the quarter, topping analysts’ consensus estimates of $3.00 by $0.17. The firm had revenue of $52.60 billion during the quarter, compared to analysts’ expectations of $51.49 billion. Costco Wholesale had a return on equity of 29.71% and a net margin of 2.60%. The firm’s quarterly revenue was up 18.5% on a year-over-year basis. During the same period in the prior year, the business posted $2.75 EPS. On average, analysts predict that Costco Wholesale Co. will post 13.05 earnings per share for the current fiscal year.

Costco Wholesale Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 12th. Stockholders of record on Friday, July 29th will be issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.07%. The ex-dividend date of this dividend is Thursday, July 28th. Costco Wholesale’s dividend payout ratio is presently 28.35%.

Wall Street Analysts Forecast Growth

COST has been the subject of several analyst reports. Credit Suisse Group reduced their price target on Costco Wholesale from $570.00 to $550.00 and set a “neutral” rating for the company in a report on Friday, May 27th. Telsey Advisory Group reduced their price objective on Costco Wholesale from $615.00 to $590.00 and set an “outperform” rating for the company in a report on Friday, May 27th. Deutsche Bank Aktiengesellschaft upgraded Costco Wholesale from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $525.00 to $579.00 in a report on Thursday, July 14th. Robert W. Baird reduced their price objective on Costco Wholesale from $600.00 to $560.00 and set an “outperform” rating for the company in a report on Friday, May 27th. Finally, Truist Financial boosted their price target on Costco Wholesale from $543.00 to $571.00 in a research note on Thursday. Four equities research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $575.08.

About Costco Wholesale

(Get Rating)

Costco Wholesale Corporation, together with its subsidiaries, engages in the operation of membership warehouses in the United States, Puerto Rico, Canada, the United Kingdom, Mexico, Japan, Korea, Australia, Spain, France, Iceland, China, and Taiwan. It offers branded and private-label products in a range of merchandise categories.

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Institutional Ownership by Quarter for Costco Wholesale (NASDAQ:COST)

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