Costco Wholesale Corporation (NASDAQ:COST) is Adell Harriman & Carpenter Inc.'s 8th Largest Position

Adell Harriman & Carpenter Inc. grew its position in shares of Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 1.0% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 38,242 shares of the retailer's stock after buying an additional 382 shares during the quarter. Costco Wholesale accounts for 2.7% of Adell Harriman & Carpenter Inc.'s investment portfolio, making the stock its 8th largest holding. Adell Harriman & Carpenter Inc.'s holdings in Costco Wholesale were worth $36,169,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Geode Capital Management LLC boosted its stake in shares of Costco Wholesale by 2.7% in the fourth quarter. Geode Capital Management LLC now owns 9,739,175 shares of the retailer's stock valued at $8,901,249,000 after buying an additional 252,118 shares in the last quarter. F&V Capital Management LLC acquired a new stake in Costco Wholesale in the first quarter valued at $236,000. Umpqua Bank boosted its position in shares of Costco Wholesale by 14.7% during the 4th quarter. Umpqua Bank now owns 4,507 shares of the retailer's stock worth $4,134,000 after purchasing an additional 577 shares in the last quarter. Curat Global LLC acquired a new position in shares of Costco Wholesale during the 1st quarter worth $241,000. Finally, Sequoia Financial Advisors LLC increased its holdings in shares of Costco Wholesale by 32.6% in the 4th quarter. Sequoia Financial Advisors LLC now owns 68,976 shares of the retailer's stock valued at $63,200,000 after purchasing an additional 16,967 shares in the last quarter. Institutional investors and hedge funds own 68.48% of the company's stock.

Insiders Place Their Bets

In other news, EVP Patrick J. Callans sold 3,000 shares of the company's stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $1,002.77, for a total transaction of $3,008,310.00. Following the completion of the transaction, the executive vice president owned 58,543 shares of the company's stock, valued at $58,705,164.11. This represents a 4.87% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Pierre Riel sold 2,000 shares of the firm's stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $1,014.15, for a total transaction 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 $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 9,547 shares of company stock worth $9,496,950 over the last 90 days. Corporate insiders own 0.18% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on COST shares. Cfra Research upgraded shares of Costco Wholesale from a "hold" rating to a "moderate buy" rating in a research note on Friday, April 4th. Truist Financial lifted their price target on shares of Costco Wholesale from $995.00 to $1,042.00 and gave the company a "hold" rating in a research report on Friday, May 30th. Wall Street Zen upgraded Costco Wholesale from a "hold" rating to a "buy" rating in a report on Friday, June 6th. Telsey Advisory Group reaffirmed an "outperform" rating and set a $1,100.00 price objective on shares of Costco Wholesale in a report on Thursday. Finally, Mizuho started coverage on Costco Wholesale in a research report on Friday, April 11th. They set a "neutral" rating and a $975.00 target price on the stock. Nine equities research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company's stock. According to data from MarketBeat, Costco Wholesale has a consensus rating of "Moderate Buy" and an average price target of $1,034.79.

Costco Wholesale Trading Up 0.4%

NASDAQ COST traded up $3.91 during mid-day trading on Friday, reaching $986.27. 1,101,351 shares of the stock were exchanged, compared to its average volume of 2,074,110. The stock has a market capitalization of $437.39 billion, a PE ratio of 55.94, a PEG ratio of 6.14 and a beta of 0.97. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.52 and a current ratio of 1.02. Costco Wholesale Corporation has a 1-year low of $793.00 and a 1-year high of $1,078.24. The business's fifty day simple moving average is $1,005.20 and its 200 day simple moving average is $981.20.

Costco Wholesale (NASDAQ:COST - Get Free Report) last issued its quarterly 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. The company had revenue of $63.21 billion for the quarter, compared to analyst estimates of $62.93 billion. Costco Wholesale had a return on equity of 30.48% and a net margin of 2.92%. The business's revenue for the quarter was up 8.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.78 EPS. On average, research analysts anticipate that Costco Wholesale Corporation 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 paid a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 0.53%. This is a positive change from Costco Wholesale's previous quarterly dividend of $1.16. The ex-dividend date was Friday, May 2nd. Costco Wholesale's dividend payout ratio (DPR) is presently 29.50%.

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.