Costco Wholesale Corporation (NASDAQ:COST) Shares Sold by Principle Wealth Partners LLC

Principle Wealth Partners LLC trimmed its stake in shares of Costco Wholesale Corporation (NASDAQ:COST) by 3.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,545 shares of the retailer’s stock after selling 190 shares during the quarter. Principle Wealth Partners LLC’s holdings in Costco Wholesale were worth $5,245,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the business. Investment Management Corp VA ADV purchased a new stake in shares of Costco Wholesale in the fourth quarter valued at $25,000. Aspect Partners LLC boosted its holdings in shares of Costco Wholesale by 24.4% during the first quarter. Aspect Partners LLC now owns 56 shares of the retailer’s stock worth $53,000 after purchasing an additional 11 shares during the last quarter. Capital A Wealth Management LLC acquired a new stake in shares of Costco Wholesale during the fourth quarter worth $58,000. Mascagni Wealth Management Inc. acquired a new position in Costco Wholesale in the fourth quarter valued at $59,000. Finally, Bank & Trust Co boosted its holdings in Costco Wholesale by 20.4% in the first quarter. Bank & Trust Co now owns 65 shares of the retailer’s stock valued at $61,000 after acquiring an additional 11 shares during the last quarter. 68.48% of the stock is owned by hedge funds and other institutional investors.

Costco Wholesale Stock Down 0.3%

NASDAQ:COST traded down $2.83 during trading hours on Thursday, hitting $938.36. 282,183 shares of the company’s stock traded hands, compared to its average volume of 2,205,798. The firm has a market cap of $416.14 billion, a P/E ratio of 53.33, a P/E/G ratio of 5.85 and a beta of 0.97. Costco Wholesale Corporation has a twelve month low of $793.00 and a twelve month high of $1,078.23. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.52 and a current ratio of 1.02. The stock’s fifty day moving average price is $995.38 and its two-hundred day moving average price is $983.27.

Costco Wholesale (NASDAQ:COST) last released its quarterly earnings results on Thursday, May 29th. The retailer reported $4.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.24 by $0.04. Costco Wholesale had a return on equity of 30.48% and a net margin of 2.92%. The company had revenue of $63.21 billion during the quarter, compared to the consensus estimate of $62.93 billion. During the same quarter in the prior year, the company posted $3.78 EPS. The firm’s revenue was up 8.0% on a year-over-year basis. On average, research analysts expect 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. Shareholders of record on Friday, August 1st will be issued a dividend of $1.30 per share. The ex-dividend date is Friday, August 1st. This represents a $5.20 annualized dividend and a yield of 0.55%. Costco Wholesale’s dividend payout ratio is presently 29.50%.

Analyst Upgrades and Downgrades

COST has been the topic of a number of research analyst reports. Wall Street Zen upgraded Costco Wholesale from a “hold” rating to a “buy” rating in a report on Friday, June 6th. Loop Capital cut their target price on 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. Evercore ISI dropped their price target on Costco Wholesale from $1,075.00 to $1,060.00 and set an “outperform” rating on the stock in a report on Tuesday, June 17th. Telsey Advisory Group reissued an “outperform” rating and set a $1,100.00 target price on shares of Costco Wholesale in a research note on Thursday, July 10th. Finally, Cfra Research raised shares of Costco Wholesale from a “hold” rating to a “moderate buy” rating in a research note on Friday, April 4th. Nine equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $1,037.48.

Insider Transactions at Costco Wholesale

In other news, EVP Pierre Riel sold 2,000 shares of the company’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 value of $2,028,300.00. Following the transaction, the executive vice president owned 8,210 shares of the company’s stock, valued at approximately $8,326,171.50. This represents a 19.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 value of $3,008,310.00. Following the completion of the transaction, the executive vice president directly owned 58,543 shares in the company, valued at $58,705,164.11. The trade was a 4.87% decrease in their position. The disclosure for this sale can be found here. Insiders sold 9,547 shares of company stock valued at $9,472,510 over the last three months. 0.18% of the stock is currently owned by corporate insiders.

About Costco Wholesale

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.