AMI Asset Management Corp Has $23.77 Million Stock Position in Costco Wholesale Corporation (NASDAQ:COST)

AMI Asset Management Corp decreased its stake in shares of Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 4.4% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 25,137 shares of the retailer's stock after selling 1,161 shares during the quarter. AMI Asset Management Corp's holdings in Costco Wholesale were worth $23,774,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. GAMMA Investing LLC increased its holdings in shares of Costco Wholesale by 106,402.1% during the 1st quarter. GAMMA Investing LLC now owns 8,160,190 shares of the retailer's stock worth $7,717,744,000 after acquiring an additional 8,152,528 shares during the last quarter. Norges Bank acquired a new position in shares of Costco Wholesale during the 4th quarter worth approximately $5,182,316,000. Proficio Capital Partners LLC increased its holdings in shares of Costco Wholesale by 74,796.3% during the 4th quarter. Proficio Capital Partners LLC now owns 1,521,893 shares of the retailer's stock worth $1,394,465,000 after acquiring an additional 1,519,861 shares during the last quarter. Leigh Baldwin & CO. LLC acquired a new position in shares of Costco Wholesale during the 4th quarter worth approximately $95,452,000. Finally, Northern Trust Corp increased its holdings in shares of Costco Wholesale by 12.6% during the 4th quarter. Northern Trust Corp now owns 5,257,809 shares of the retailer's stock worth $4,817,573,000 after acquiring an additional 587,303 shares during the last quarter. Institutional investors and hedge funds own 68.48% of the company's stock.

Wall Street Analyst Weigh In

COST has been the topic of a number of recent analyst reports. Loop Capital decreased their target price on Costco Wholesale from $1,115.00 to $1,110.00 and set a "buy" rating on the stock in a report on Thursday, May 29th. Morgan Stanley upped their price objective on Costco Wholesale from $1,150.00 to $1,225.00 and gave the company an "overweight" rating in a report on Friday, May 30th. Wall Street Zen raised Costco Wholesale from a "hold" rating to a "buy" rating in a report on Friday, June 6th. JPMorgan Chase & Co. upped their price objective on Costco Wholesale from $1,065.00 to $1,070.00 and gave the company an "overweight" rating in a report on Friday, March 7th. Finally, Truist Financial upped their price objective on Costco Wholesale from $995.00 to $1,042.00 and gave the company a "hold" rating in a report on Friday, May 30th. Nine 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, the stock currently has an average rating of "Moderate Buy" and an average target price of $1,034.79.

Costco Wholesale Stock Performance

NASDAQ:COST opened at $982.91 on Friday. The stock's 50-day simple moving average is $1,004.08 and its 200 day simple moving average is $981.26. The firm has a market capitalization of $435.90 billion, a PE ratio of 55.75, a price-to-earnings-growth ratio of 5.83 and a beta of 1.00. The company has a quick ratio of 0.52, a current ratio of 1.02 and a debt-to-equity ratio of 0.21. Costco Wholesale Corporation has a twelve month low of $793.00 and a twelve month high of $1,078.24.

Costco Wholesale (NASDAQ:COST - Get Free Report) last posted its earnings results on Thursday, May 29th. The retailer reported $4.28 EPS for the quarter, beating the consensus estimate of $4.24 by $0.04. The firm had revenue of $63.21 billion during the quarter, compared to the consensus estimate of $62.93 billion. Costco Wholesale had a return on equity of 30.48% and a net margin of 2.92%. The business's quarterly revenue was up 8.0% on a year-over-year basis. During the same period last year, the company earned $3.78 earnings per share. On average, analysts anticipate that Costco Wholesale Corporation will post 18.03 EPS for the current fiscal year.

Costco Wholesale Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 16th. Shareholders of record on Friday, May 2nd were given a $1.30 dividend. The ex-dividend date of this dividend was Friday, May 2nd. 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 0.53%. Costco Wholesale's dividend payout ratio (DPR) is currently 29.50%.

Insider Buying and Selling at Costco Wholesale

In other Costco Wholesale news, EVP Pierre Riel sold 2,000 shares of the stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $1,014.15, for a total value of $2,028,300.00. Following the completion of the transaction, the executive vice president now directly owns 8,210 shares in the company, valued at approximately $8,326,171.50. This trade represents a 19.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Susan L. Decker sold 547 shares of the stock in a transaction dated Wednesday, June 18th. The shares were sold at an average price of $980.00, for a total value of $536,060.00. Following the completion of the sale, the director now directly owns 11,531 shares of the company's stock, valued at approximately $11,300,380. The trade was a 4.53% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 9,547 shares of company stock worth $9,496,950. 0.18% of the stock is currently owned by insiders.

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.

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