AmeriServ Wealth Advisors Makes New Investment in Costco Wholesale Co. (NASDAQ:COST)

AmeriServ Wealth Advisors purchased a new stake in Costco Wholesale Co. (NASDAQ:COST - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 1,360 shares of the retailer's stock, valued at approximately $1,246,000. Costco Wholesale comprises approximately 0.7% of AmeriServ Wealth Advisors' holdings, making the stock its 23rd largest position.

Several other institutional investors and hedge funds also recently made changes to their positions in COST. Synergy Investment Management LLC bought a new stake in shares of Costco Wholesale during the 4th quarter valued at about $31,000. NewSquare Capital LLC boosted its holdings in shares of Costco Wholesale by 250.0% during the 4th quarter. NewSquare Capital LLC now owns 35 shares of the retailer's stock worth $32,000 after buying an additional 25 shares in the last quarter. Endeavor Private Wealth Inc. acquired a new stake in shares of Costco Wholesale during the 4th quarter worth approximately $33,000. Collier Financial bought a new stake in shares of Costco Wholesale in the 4th quarter valued at $35,000. Finally, Barrett & Company Inc. boosted its stake in Costco Wholesale by 59.3% during the fourth quarter. Barrett & Company Inc. now owns 43 shares of the retailer's stock worth $39,000 after acquiring an additional 16 shares in the last quarter. Institutional investors and hedge funds own 68.48% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on COST shares. Cfra Research raised shares of Costco Wholesale from a "hold" rating to a "moderate buy" rating in a research note on Friday, April 4th. Robert W. Baird upped their price target on Costco Wholesale from $1,075.00 to $1,125.00 and gave the stock an "outperform" rating in a research note on Friday, March 7th. Loop Capital cut their price target on Costco Wholesale from $1,150.00 to $1,045.00 and set a "buy" rating on the stock in a report on Wednesday, April 9th. Barclays boosted their price objective on Costco Wholesale from $940.00 to $980.00 and gave the company an "equal weight" rating in a report on Monday, March 10th. Finally, JPMorgan Chase & Co. increased their target price on Costco Wholesale from $1,065.00 to $1,070.00 and gave the stock an "overweight" rating in a report on Friday, March 7th. Ten investment 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 stock currently has an average rating of "Moderate Buy" and an average target price of $1,024.03.

Insider Buying and Selling

In other Costco Wholesale news, CEO Roland Michael Vachris sold 3,600 shares of the company's stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $931.00, for a total transaction of $3,351,600.00. Following the sale, the chief executive officer now directly owns 41,077 shares of the company's stock, valued at $38,242,687. This represents a 8.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP James C. Klauer sold 4,000 shares of Costco Wholesale stock in a transaction dated Thursday, April 17th. The stock was sold at an average price of $981.07, for a total transaction of $3,924,280.00. Following the completion of the transaction, the executive vice president now owns 43,994 shares of the company's stock, valued at $43,161,193.58. The trade was a 8.33 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 9,600 shares of company stock valued at $9,140,195. 0.18% of the stock is owned by company insiders.

Costco Wholesale Stock Performance

Costco Wholesale stock traded up $9.26 during mid-day trading on Friday, reaching $1,008.30. 1,547,172 shares of the company's stock were exchanged, compared to its average volume of 2,033,356. Costco Wholesale Co. has a one year low of $746.48 and a one year high of $1,078.24. The firm has a market capitalization of $447.37 billion, a PE ratio of 59.21, a P/E/G ratio of 6.15 and a beta of 0.95. The business's fifty day simple moving average is $961.44 and its 200 day simple moving average is $959.95. The company has a quick ratio of 0.43, a current ratio of 0.98 and a debt-to-equity ratio of 0.23.

Costco Wholesale (NASDAQ:COST - Get Free Report) last issued its quarterly earnings results on Thursday, March 6th. The retailer reported $4.02 earnings per share for the quarter, missing analysts' consensus estimates of $4.09 by ($0.07). The company had revenue of $63.72 billion during the quarter, compared to analysts' expectations of $63.02 billion. Costco Wholesale had a return on equity of 32.31% and a net margin of 2.93%. On average, sell-side analysts expect that Costco Wholesale Co. will post 18.03 earnings per share for the current year.

Costco Wholesale Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 16th. Stockholders of record on Friday, May 2nd will be paid a dividend of $1.30 per share. The ex-dividend date is Friday, May 2nd. This represents a $5.20 annualized dividend and a dividend yield of 0.52%. This is a positive change from Costco Wholesale's previous quarterly dividend of $1.16. Costco Wholesale's dividend payout ratio (DPR) is presently 30.36%.

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.