Tyche Wealth Partners LLC Sells 656 Shares of Costco Wholesale Corporation (NASDAQ:COST)

Tyche Wealth Partners LLC cut its holdings in Costco Wholesale Corporation (NASDAQ:COST) by 10.1% in the 1st quarter, HoldingsChannel.com reports. The firm owned 5,854 shares of the retailer’s stock after selling 656 shares during the period. Costco Wholesale comprises approximately 1.2% of Tyche Wealth Partners LLC’s portfolio, making the stock its 19th largest holding. Tyche Wealth Partners LLC’s holdings in Costco Wholesale were worth $5,537,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Geode Capital Management LLC boosted its position in Costco Wholesale by 2.7% during the 4th quarter. Geode Capital Management LLC now owns 9,739,175 shares of the retailer’s stock valued at $8,901,249,000 after buying an additional 252,118 shares during the period. F&V Capital Management LLC bought a new position in shares of Costco Wholesale during the first quarter valued at about $236,000. AMJ Financial Wealth Management boosted its holdings in shares of Costco Wholesale by 2.6% during the fourth quarter. AMJ Financial Wealth Management now owns 10,536 shares of the retailer’s stock worth $9,654,000 after purchasing an additional 270 shares during the period. Umpqua Bank grew its stake in shares of Costco Wholesale by 14.7% in the fourth quarter. Umpqua Bank now owns 4,507 shares of the retailer’s stock worth $4,134,000 after purchasing an additional 577 shares during the last quarter. Finally, Curat Global LLC bought a new stake in shares of Costco Wholesale in the first quarter worth about $241,000. 68.48% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Costco Wholesale

In related news, EVP James C. Klauer sold 4,000 shares of the company’s stock in a transaction that occurred on Thursday, April 17th. The stock was sold at an average price of $981.07, for a total value of $3,924,280.00. Following the transaction, the executive vice president now directly owns 43,994 shares of the company’s stock, valued at approximately $43,161,193.58. This represents a 8.33% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Susan L. Decker sold 547 shares of the stock in a transaction on Wednesday, June 18th. The shares were sold at an average price of $980.00, for a total value of $536,060.00. Following the sale, the director now owns 11,531 shares in the company, valued at approximately $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 sold 9,547 shares of company stock valued at $9,496,950 over the last 90 days. Corporate insiders own 0.18% of the company’s stock.

Costco Wholesale Trading Down 1.5%

NASDAQ COST opened at $986.54 on Thursday. Costco Wholesale Corporation has a 12 month low of $793.00 and a 12 month high of $1,078.24. The company has a current ratio of 1.02, a quick ratio of 0.52 and a debt-to-equity ratio of 0.21. The stock’s fifty day moving average price is $1,004.32 and its 200-day moving average price is $981.29. The stock has a market cap of $437.51 billion, a P/E ratio of 55.96, a P/E/G ratio of 5.92 and a beta of 1.00.

Costco Wholesale (NASDAQ:COST) last announced its quarterly earnings data on Thursday, May 29th. The retailer reported $4.28 EPS for the quarter, beating the consensus estimate of $4.24 by $0.04. The company had revenue of $63.21 billion for the quarter, compared to the consensus estimate of $62.93 billion. Costco Wholesale had a net margin of 2.92% and a return on equity of 30.48%. Costco Wholesale’s revenue for the quarter was up 8.0% on a year-over-year basis. During the same period in the prior year, the firm posted $3.78 EPS. As a group, equities analysts forecast that Costco Wholesale Corporation will post 18.03 EPS for the current fiscal year.

Costco Wholesale Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 16th. Stockholders of record on Friday, May 2nd were issued a dividend of $1.30 per share. This is a boost from Costco Wholesale’s previous quarterly dividend of $1.16. The ex-dividend date of this dividend was Friday, May 2nd. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.53%. Costco Wholesale’s dividend payout ratio is presently 29.50%.

Analyst Ratings Changes

A number of research analysts have commented on COST shares. Cowen reaffirmed a “buy” rating on shares of Costco Wholesale in a research report on Friday, March 7th. Sanford C. Bernstein restated an “outperform” rating on shares of Costco Wholesale in a report on Friday, March 7th. Loop Capital decreased their target price on Costco Wholesale from $1,115.00 to $1,110.00 and set a “buy” rating for the company in a report on Thursday, May 29th. Stifel Nicolaus set a $1,035.00 price target on shares of Costco Wholesale in a report on Thursday, May 29th. Finally, Truist Financial boosted their price objective on shares of Costco Wholesale from $995.00 to $1,042.00 and gave the company a “hold” rating in a research report on Friday, May 30th. Nine equities research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $1,034.79.

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.