Advisor Resource Council Makes New $5.77 Million Investment in Costco Wholesale Corporation (NASDAQ:COST)

Advisor Resource Council purchased a new position in Costco Wholesale Corporation (NASDAQ:COST - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 6,466 shares of the retailer's stock, valued at approximately $5,766,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Capital & Planning LLC increased its holdings in Costco Wholesale by 28.7% in the 4th quarter. Capital & Planning LLC now owns 3,756 shares of the retailer's stock worth $3,441,000 after buying an additional 837 shares during the period. Redmond Asset Management LLC purchased a new stake in shares of Costco Wholesale in the 4th quarter valued at $1,214,000. May Barnhard Investments LLC purchased a new stake in Costco Wholesale in the fourth quarter valued at $485,000. Ironwood Wealth Management LLC. grew its holdings in Costco Wholesale by 0.6% during the fourth quarter. Ironwood Wealth Management LLC. now owns 3,852 shares of the retailer's stock worth $3,529,000 after acquiring an additional 22 shares during the period. Finally, Brighton Jones LLC raised its position in Costco Wholesale by 12.3% during the fourth quarter. Brighton Jones LLC now owns 19,825 shares of the retailer's stock valued at $18,165,000 after acquiring an additional 2,172 shares in the last quarter. 68.48% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have commented on the company. Loop Capital lowered their price objective on Costco Wholesale from $1,115.00 to $1,110.00 and set a "buy" rating on the stock in a research report on Thursday, May 29th. Robert W. Baird increased their price target on shares of Costco Wholesale from $1,075.00 to $1,125.00 and gave the stock an "outperform" rating in a report on Friday, March 7th. Cowen restated a "buy" rating on shares of Costco Wholesale in a research report on Friday, March 7th. Mizuho began coverage on shares of Costco Wholesale in a report on Friday, April 11th. They issued a "neutral" rating and a $975.00 price objective for the company. Finally, JPMorgan Chase & Co. upped their price objective on shares of Costco Wholesale from $1,065.00 to $1,070.00 and gave the stock an "overweight" rating in a research report on Friday, March 7th. Nine equities research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company. According to data from MarketBeat, Costco Wholesale presently has a consensus rating of "Moderate Buy" and a consensus price target of $1,034.79.

Costco Wholesale Stock Up 0.6%

Shares of COST opened at $980.29 on Friday. The stock has a 50 day moving average price of $1,002.94 and a 200 day moving average price of $981.10. 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 stock has a market capitalization of $434.74 billion, a price-to-earnings ratio of 55.60, a PEG ratio of 5.76 and a beta of 1.00. Costco Wholesale Corporation has a one year low of $793.00 and a one year high of $1,078.24.

Costco Wholesale (NASDAQ:COST - Get Free Report) last released its earnings results on Thursday, May 29th. The retailer reported $4.28 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.24 by $0.04. The business had revenue of $63.21 billion during the quarter, compared to analyst estimates of $62.93 billion. Costco Wholesale had a net margin of 2.92% and a return on equity of 30.48%. The company'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 firm earned $3.78 earnings per share. Equities research analysts forecast that Costco Wholesale Corporation will post 18.03 earnings per share for the current fiscal year.

Costco Wholesale Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 16th. Shareholders of record on Friday, May 2nd were issued a $1.30 dividend. This is an increase from Costco Wholesale's previous quarterly dividend of $1.16. The ex-dividend date was Friday, May 2nd. This represents a $5.20 dividend on an annualized basis and a yield of 0.53%. Costco Wholesale's dividend payout ratio is presently 29.50%.

Insiders Place Their Bets

In other news, EVP Pierre Riel sold 2,000 shares of Costco Wholesale stock in a transaction 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 transaction, the executive vice president now owns 8,210 shares in the company, valued at $8,326,171.50. The trade was a 19.59% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Gary Millerchip sold 1,100 shares of the business's stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $940.01, for a total transaction of $1,034,011.00. Following the transaction, the executive vice president now directly owns 11,165 shares in the company, valued at approximately $10,495,211.65. The trade was a 8.97% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 11,547 shares of company stock valued at $11,361,265 in the last ninety days. 0.18% of the stock is currently owned by corporate insiders.

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.

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