Trinity Legacy Partners LLC Sells 31 Shares of Costco Wholesale Corporation $COST

Trinity Legacy Partners LLC reduced its position in Costco Wholesale Corporation (NASDAQ:COST) by 0.5% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,503 shares of the retailer’s stock after selling 31 shares during the quarter. Costco Wholesale makes up about 1.6% of Trinity Legacy Partners LLC’s holdings, making the stock its 19th largest position. Trinity Legacy Partners LLC’s holdings in Costco Wholesale were worth $6,497,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Brighton Jones LLC lifted its holdings in Costco Wholesale by 12.3% during the fourth quarter. Brighton Jones LLC now owns 19,825 shares of the retailer’s stock valued at $18,165,000 after purchasing an additional 2,172 shares during the last quarter. Revolve Wealth Partners LLC increased its stake in shares of Costco Wholesale by 13.1% in the fourth quarter. Revolve Wealth Partners LLC now owns 1,123 shares of the retailer’s stock worth $1,029,000 after purchasing an additional 130 shares in the last quarter. Bank Pictet & Cie Europe AG raised its position in shares of Costco Wholesale by 45.0% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 117,254 shares of the retailer’s stock valued at $107,436,000 after purchasing an additional 36,384 shares during the period. Highview Capital Management LLC DE lifted its stake in shares of Costco Wholesale by 0.8% during the 4th quarter. Highview Capital Management LLC DE now owns 4,813 shares of the retailer’s stock valued at $4,410,000 after buying an additional 40 shares in the last quarter. Finally, Topsail Wealth Management LLC purchased a new stake in shares of Costco Wholesale during the 4th quarter valued at approximately $250,000. 68.48% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, EVP Patrick J. Callans sold 3,000 shares of the firm’s stock in a transaction dated 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 sale, the executive vice president directly owned 58,543 shares of the company’s stock, valued at approximately $58,705,164.11. This trade represents a 4.87% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Yoram Rubanenko sold 4,000 shares of Costco Wholesale stock in a transaction dated Monday, July 14th. The shares were sold at an average price of $974.96, for a total transaction of $3,899,840.00. Following the sale, the executive vice president directly 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. In the last ninety days, insiders sold 10,147 shares of company stock worth $10,067,740. Company insiders own 0.18% of the company’s stock.

Costco Wholesale Price Performance

Shares of NASDAQ:COST opened at $958.54 on Friday. The stock has a market cap of $425.09 billion, a PE ratio of 54.37, a PEG ratio of 6.03 and a beta of 0.96. The company’s fifty day moving average is $969.85 and its 200 day moving average is $985.46. The company has a quick ratio of 0.52, a current ratio of 1.02 and a debt-to-equity ratio of 0.21. Costco Wholesale Corporation has a 52 week low of $867.16 and a 52 week high of $1,078.23.

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

Costco Wholesale Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Friday, August 1st were issued a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date was Friday, August 1st. Costco Wholesale’s dividend payout ratio is currently 29.50%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on COST shares. Morgan Stanley lifted their price objective on shares of Costco Wholesale from $1,150.00 to $1,225.00 and gave the company an “overweight” rating in a research note on Friday, May 30th. Loop Capital reduced their price target 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. Erste Group Bank lowered Costco Wholesale from a “buy” rating to a “hold” rating in a research note on Tuesday, August 5th. Truist Financial increased their price objective on Costco Wholesale from $995.00 to $1,042.00 and gave the stock a “hold” rating in a report on Friday, May 30th. Finally, JPMorgan Chase & Co. lifted their target price on Costco Wholesale from $1,115.00 to $1,160.00 and gave the company an “overweight” rating in a report on Thursday, August 7th. Seventeen investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $1,050.00.

Costco Wholesale 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.