Centre Asset Management LLC Purchases New Holdings in Costco Wholesale Co. (NASDAQ:COST)

Centre Asset Management LLC acquired a new stake in Costco Wholesale Co. (NASDAQ:COST - Free Report) in the first quarter, according to its most recent filing with the SEC. The fund acquired 3,431 shares of the retailer's stock, valued at approximately $3,245,000.

Other hedge funds have also bought and sold shares of the company. Investment Management Corp VA ADV bought a new stake in Costco Wholesale in the fourth quarter valued at $25,000. Synergy Investment Management LLC purchased a new position in shares of Costco Wholesale during the fourth quarter valued at about $31,000. NewSquare Capital LLC increased its position in shares of Costco Wholesale by 250.0% during 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 during the period. Collier Financial purchased a new stake in Costco Wholesale in the fourth quarter worth about $35,000. Finally, Barrett & Company Inc. lifted its holdings in Costco Wholesale by 59.3% in the fourth quarter. Barrett & Company Inc. now owns 43 shares of the retailer's stock worth $39,000 after buying an additional 16 shares during the period. 68.48% of the stock is currently owned by hedge funds and other institutional investors.

Costco Wholesale Price Performance

NASDAQ:COST traded up $40.04 during mid-day trading on Friday, reaching $1,048.78. 5,400,884 shares of the stock were exchanged, compared to its average volume of 2,061,193. Costco Wholesale Co. has a 1-year low of $788.20 and a 1-year high of $1,078.24. The company has a current ratio of 0.98, a quick ratio of 0.43 and a debt-to-equity ratio of 0.23. The business has a fifty day moving average price of $981.48 and a 200 day moving average price of $974.53. The firm has a market capitalization of $465.33 billion, a PE ratio of 61.58, a PEG ratio of 6.15 and a beta of 1.00.

Costco Wholesale (NASDAQ:COST - Get Free Report) last issued its earnings results on Thursday, May 29th. The retailer reported $4.28 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.24 by $0.04. Costco Wholesale had a net margin of 2.93% and a return on equity of 32.31%. The company had revenue of $63.21 billion during the quarter, compared to analyst estimates of $62.93 billion. During the same quarter last year, the business posted $3.78 EPS. The company's revenue for the quarter was up 8.0% on a year-over-year basis. Research analysts expect that Costco Wholesale Co. will post 18.03 earnings per share for the current fiscal year.

Costco Wholesale Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 16th. Shareholders of record on Friday, May 2nd were given a $1.30 dividend. This is an increase from Costco Wholesale's previous quarterly dividend of $1.16. This represents a $5.20 annualized dividend and a yield of 0.50%. The ex-dividend date was Friday, May 2nd. Costco Wholesale's payout ratio is currently 30.36%.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Cowen reissued 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. JPMorgan Chase & Co. increased their price objective on shares of Costco Wholesale from $1,065.00 to $1,070.00 and gave the company an "overweight" rating in a research report on Friday, March 7th. Evercore ISI lifted their target price on shares of Costco Wholesale from $1,070.00 to $1,075.00 and gave the stock an "outperform" rating in a report on Thursday. Finally, Robert W. Baird increased their price target on shares of Costco Wholesale from $1,075.00 to $1,125.00 and gave the company an "outperform" rating in a report on Friday, March 7th. Ten investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $1,035.32.

Insider Activity

In other Costco Wholesale 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 transaction of $830,304.00. Following the completion of the sale, the executive vice president now directly owns 6,987 shares of the company's stock, valued at approximately $6,445,926.72. The trade was a 11.41% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP James C. Klauer sold 4,000 shares of the firm's stock in a transaction that occurred on Thursday, April 17th. The shares were 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 directly owns 43,994 shares in the company, valued at approximately $43,161,193.58. The trade was a 8.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 9,600 shares of company stock valued at $9,140,195. 0.18% of the stock is owned by company insiders.

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.