Morse Asset Management Inc Sells 1,248 Shares of Costco Wholesale Co. (NASDAQ:COST)

Morse Asset Management Inc decreased its position in Costco Wholesale Co. (NASDAQ:COST - Free Report) by 16.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,233 shares of the retailer's stock after selling 1,248 shares during the quarter. Costco Wholesale accounts for approximately 1.3% of Morse Asset Management Inc's portfolio, making the stock its 22nd largest position. Morse Asset Management Inc's holdings in Costco Wholesale were worth $5,711,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the company. Synergy Investment Management LLC acquired a new stake in shares of Costco Wholesale in the 4th quarter valued at $31,000. NewSquare Capital LLC raised its stake in Costco Wholesale by 250.0% in the fourth quarter. NewSquare Capital LLC now owns 35 shares of the retailer's stock valued at $32,000 after buying an additional 25 shares in the last quarter. Endeavor Private Wealth Inc. purchased a new stake in Costco Wholesale during the 4th quarter worth about $33,000. Collier Financial purchased a new position in shares of Costco Wholesale in the 4th quarter valued at about $35,000. Finally, Barrett & Company Inc. boosted its holdings in Costco Wholesale by 59.3% in the fourth quarter. Barrett & Company Inc. now owns 43 shares of the retailer's stock valued at $39,000 after purchasing an additional 16 shares in the last quarter. 68.48% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently commented on COST. Cowen reaffirmed a "buy" rating on shares of Costco Wholesale in a research report on Friday, March 7th. Mizuho initiated coverage on Costco Wholesale in a report on Friday, April 11th. They issued a "neutral" rating and a $975.00 target price for the company. JPMorgan Chase & Co. raised their price target on Costco Wholesale from $1,065.00 to $1,070.00 and gave the stock an "overweight" rating in a research note on Friday, March 7th. Loop Capital decreased their price objective on Costco Wholesale from $1,150.00 to $1,045.00 and set a "buy" rating for the company in a report on Wednesday, April 9th. Finally, Evercore ISI increased their price objective on Costco Wholesale from $1,050.00 to $1,070.00 and gave the stock an "outperform" rating in a research report on Tuesday, March 11th. Ten equities research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company's stock. According to MarketBeat, Costco Wholesale presently has an average rating of "Moderate Buy" and an average target price of $1,024.03.

Insider Buying and Selling

In other news, EVP Claudine Adamo sold 900 shares of the business's stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $922.56, for a total value of $830,304.00. Following the sale, the executive vice president now directly owns 6,987 shares in the company, valued at $6,445,926.72. The trade was a 11.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP James C. Klauer sold 4,000 shares of the company's stock in a transaction dated 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 $43,161,193.58. This represents a 8.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 9,600 shares of company stock worth $9,140,195 over the last ninety days. Company insiders own 0.18% of the company's stock.

Costco Wholesale Trading Up 1.9%

Shares of NASDAQ COST traded up $18.93 during mid-day trading on Thursday, hitting $1,010.47. The company's stock had a trading volume of 2,462,281 shares, compared to its average volume of 2,040,679. The company's fifty day simple moving average is $958.04 and its 200-day simple moving average is $965.34. The stock has a market cap of $448.33 billion, a price-to-earnings ratio of 59.33, a price-to-earnings-growth ratio of 6.15 and a beta of 1.00. Costco Wholesale Co. has a one year low of $778.52 and a one year high of $1,078.24. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.98 and a quick ratio of 0.43.

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

Costco Wholesale Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 16th. Stockholders of record on Friday, May 2nd will be given a dividend of $1.30 per share. This is an increase from Costco Wholesale's previous quarterly dividend of $1.16. The ex-dividend date of this dividend is Friday, May 2nd. This represents a $5.20 annualized dividend and a dividend yield of 0.51%. Costco Wholesale's dividend payout ratio is currently 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.