Callan Family Office LLC Lowers Stock Holdings in Costco Wholesale Corporation (NASDAQ:COST)

Callan Family Office LLC trimmed its stake in Costco Wholesale Corporation (NASDAQ:COST) by 70.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,784 shares of the retailer’s stock after selling 9,070 shares during the period. Callan Family Office LLC’s holdings in Costco Wholesale were worth $3,579,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently added to or reduced their stakes in the company. Investment Management Corp VA ADV purchased a new stake in Costco Wholesale in the 4th quarter valued at about $25,000. Aspect Partners LLC lifted its position 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 purchasing an additional 11 shares during the period. Capital A Wealth Management LLC purchased a new stake in shares of Costco Wholesale in the 4th quarter worth approximately $58,000. Mascagni Wealth Management Inc. purchased a new stake in shares of Costco Wholesale in the 4th quarter worth approximately $59,000. Finally, Bank & Trust Co lifted its position in shares of Costco Wholesale by 20.4% in the 1st quarter. Bank & Trust Co now owns 65 shares of the retailer’s stock worth $61,000 after purchasing an additional 11 shares during the period. 68.48% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently weighed in on COST. Stifel Nicolaus set a $1,035.00 price target on shares of Costco Wholesale in a research report on Thursday, May 29th. Morgan Stanley upped their price target 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. Erste Group Bank cut shares of Costco Wholesale from a “buy” rating to a “hold” rating in a research report on Tuesday, August 5th. Wall Street Zen raised shares of Costco Wholesale from a “hold” rating to a “buy” rating in a research report on Friday, June 6th. Finally, Loop Capital lowered their price target on shares of Costco Wholesale from $1,115.00 to $1,110.00 and set a “buy” rating for the company in a research report on Thursday, May 29th. Ten analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $1,050.00.

Insider Activity at Costco Wholesale

In other Costco Wholesale news, EVP Patrick J. Callans sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $1,002.77, for a total transaction of $3,008,310.00. Following the transaction, the executive vice president owned 58,543 shares in the company, valued at approximately $58,705,164.11. This represents a 4.87% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Yoram Rubanenko sold 4,000 shares of the 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 completion of the sale, the executive vice president owned 5,774 shares in the company, valued at $5,629,419.04. The trade was a 40.92% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 9,547 shares of company stock worth $9,472,510. 0.18% of the stock is owned by company insiders.

Costco Wholesale Trading Up 0.8%

Shares of Costco Wholesale stock opened at $988.74 on Tuesday. The company has a current ratio of 1.02, a quick ratio of 0.52 and a debt-to-equity ratio of 0.21. Costco Wholesale Corporation has a 12-month low of $852.40 and a 12-month high of $1,078.23. The firm has a market capitalization of $438.49 billion, a price-to-earnings ratio of 56.08, a PEG ratio of 6.10 and a beta of 0.96. The firm’s 50 day simple moving average is $976.56 and its two-hundred day simple moving average is $985.77.

Costco Wholesale (NASDAQ:COST) last issued its quarterly earnings results on Thursday, May 29th. The retailer reported $4.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $62.93 billion. During the same quarter in the prior year, the business posted $3.78 EPS. Costco Wholesale’s revenue for the quarter was up 8.0% compared to the same quarter last year. Analysts predict that Costco Wholesale Corporation will post 18.03 EPS for the current year.

Costco Wholesale Announces Dividend

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 paid a dividend of $1.30 per share. The ex-dividend date is Friday, August 1st. This represents a $5.20 dividend on an annualized basis and a yield of 0.5%. Costco Wholesale’s dividend payout ratio is presently 29.50%.

Costco Wholesale Company 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.