Gerber Kawasaki Wealth & Investment Management Sells 58 Shares of Costco Wholesale Corporation $COST

Gerber Kawasaki Wealth & Investment Management lessened its stake in Costco Wholesale Corporation (NASDAQ:COST) by 1.4% in the first quarter, HoldingsChannel reports. The fund owned 4,071 shares of the retailer’s stock after selling 58 shares during the period. Gerber Kawasaki Wealth & Investment Management’s holdings in Costco Wholesale were worth $3,851,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Graney & King LLC lifted its stake in shares of Costco Wholesale by 8.7% in the 1st quarter. Graney & King LLC now owns 162 shares of the retailer’s stock valued at $153,000 after acquiring an additional 13 shares during the last quarter. Monterey Private Wealth Inc. lifted its stake in shares of Costco Wholesale by 1.3% in the 1st quarter. Monterey Private Wealth Inc. now owns 4,036 shares of the retailer’s stock valued at $3,818,000 after acquiring an additional 50 shares during the last quarter. Next Century Growth Investors LLC lifted its stake in shares of Costco Wholesale by 9.3% in the 1st quarter. Next Century Growth Investors LLC now owns 6,241 shares of the retailer’s stock valued at $5,903,000 after acquiring an additional 531 shares during the last quarter. Oarsman Capital Inc. lifted its stake in shares of Costco Wholesale by 2.8% in the 1st quarter. Oarsman Capital Inc. now owns 1,350 shares of the retailer’s stock valued at $1,277,000 after acquiring an additional 37 shares during the last quarter. Finally, OMERS ADMINISTRATION Corp lifted its stake in shares of Costco Wholesale by 2.2% in the 1st quarter. OMERS ADMINISTRATION Corp now owns 26,830 shares of the retailer’s stock valued at $25,375,000 after acquiring an additional 588 shares during the last quarter. Institutional investors own 68.48% of the company’s stock.

Insider Buying and Selling at Costco Wholesale

In other Costco Wholesale news, EVP Teresa A. Jones sold 600 shares of the business’s stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $992.05, for a total value of $595,230.00. Following the sale, the executive vice president directly owned 2,362 shares of the company’s stock, valued at approximately $2,343,222.10. The trade was a 20.26% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Pierre Riel sold 2,000 shares of the stock in a transaction 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 completion of the sale, the executive vice president directly owned 8,210 shares in the company, valued at approximately $8,326,171.50. This represents a 19.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 10,147 shares of company stock valued at $10,067,740 in the last ninety days. Corporate insiders own 0.18% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Stifel Nicolaus set a $1,035.00 target price on Costco Wholesale in a research note on Thursday, May 29th. Evercore ISI lowered their price target on Costco Wholesale from $1,075.00 to $1,060.00 and set an “outperform” rating for the company in a research report on Tuesday, June 17th. Truist Financial upped their price target on Costco Wholesale from $995.00 to $1,042.00 and gave the company a “hold” rating in a research report on Friday, May 30th. Loop Capital lowered 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. Finally, Telsey Advisory Group reaffirmed an “outperform” rating and set a $1,100.00 price target on shares of Costco Wholesale in a research report on Monday, August 4th. Seventeen analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat.com, Costco Wholesale currently has an average rating of “Moderate Buy” and a consensus price target of $1,050.00.

Costco Wholesale Stock Up 0.9%

COST stock opened at $949.52 on Thursday. Costco Wholesale Corporation has a fifty-two week low of $867.16 and a fifty-two week high of $1,078.23. The business’s 50 day moving average price is $967.76 and its two-hundred day moving average price is $983.35. 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 company has a market capitalization of $421.09 billion, a price-to-earnings ratio of 53.86, a price-to-earnings-growth ratio of 5.85 and a beta of 0.96.

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

Costco Wholesale Dividend Announcement

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

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.