Insight Wealth Partners LLC Sells 46 Shares of Costco Wholesale Corporation $COST

by · The Cerbat Gem

Insight Wealth Partners LLC trimmed its holdings in Costco Wholesale Corporation (NASDAQ:COST – Free Report) by 16.4% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 234 shares of the retailer’s stock after selling 46 shares during the quarter. Insight Wealth Partners LLC’s holdings in Costco Wholesale were worth $221,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Investment Management Corp VA ADV purchased a new position in Costco Wholesale during the 4th quarter valued at $25,000. Aspect Partners LLC increased its position in Costco Wholesale by 24.4% during the 1st quarter. Aspect Partners LLC now owns 56 shares of the retailer’s stock valued at $53,000 after purchasing an additional 11 shares during the period. Capital A Wealth Management LLC purchased a new position in Costco Wholesale during the 4th quarter valued at $58,000. Mascagni Wealth Management Inc. purchased a new position in Costco Wholesale during the 4th quarter valued at $59,000. Finally, Bank & Trust Co increased its position 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 purchasing an additional 11 shares during the period. 68.48% of the stock is currently owned by institutional investors.

Costco Wholesale Stock Performance

Shares of Costco Wholesale stock opened at $943.32 on Friday. The stock has a market cap of $418.34 billion, a price-to-earnings ratio of 53.51, a PEG ratio of 5.87 and a beta of 0.96. The firm’s 50-day moving average is $966.42 and its 200 day moving average is $981.75. Costco Wholesale Corporation has a 1 year low of $867.16 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.

Costco Wholesale (NASDAQ:COST – Get Free Report) last posted its earnings results on Thursday, May 29th. The retailer reported $4.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.24 by $0.04. The business had revenue of $63.21 billion for the quarter, compared to analysts’ expectations of $62.93 billion. Costco Wholesale had a net margin of 2.92% and a return on equity of 30.48%. The business’s revenue for the quarter was up 8.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.78 EPS. Sell-side analysts anticipate that Costco Wholesale Corporation will post 18.03 EPS for the current fiscal year.

Costco Wholesale Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Friday, August 1st were paid a $1.30 dividend. This represents a $5.20 annualized dividend and a dividend yield of 0.6%. The ex-dividend date was Friday, August 1st. Costco Wholesale’s dividend payout ratio is 29.50%.

Insider Transactions at Costco Wholesale

In other news, EVP Yoram Rubanenko sold 4,000 shares of the stock in a transaction that occurred on Monday, July 14th. The shares were sold at an average price of $974.96, for a total value of $3,899,840.00. Following the transaction, the executive vice president owned 5,774 shares in the company, valued at $5,629,419.04. This represents a 40.92% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Pierre Riel sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $1,014.15, for a total transaction of $2,028,300.00. Following the sale, the executive vice president owned 8,210 shares in the company, valued at approximately $8,326,171.50. The trade was a 19.59% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 10,147 shares of company stock worth $10,067,740. 0.18% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

COST has been the topic of a number of recent research reports. Evercore ISI reduced 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 report on Tuesday, June 17th. Wall Street Zen raised shares of Costco Wholesale from a “hold” rating to a “buy” rating in a research report on Friday, June 6th. JPMorgan Chase & Co. upped their target price on shares of Costco Wholesale from $1,115.00 to $1,160.00 and gave the stock an “overweight” rating in a research report on Thursday, August 7th. Stifel Nicolaus set a $1,035.00 target price on shares of Costco Wholesale in a research report on Thursday, May 29th. Finally, Loop Capital reduced their target price on shares of Costco Wholesale from $1,115.00 to $1,110.00 and set a “buy” rating on the stock in a research report on Thursday, May 29th. Seventeen analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $1,050.00.

Check Out Our Latest Stock Analysis on Costco Wholesale

About Costco Wholesale

(Free Report)

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.

See Also

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