Asset Management One Co. Ltd. raised its stake in shares of Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 5.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 222,438 shares of the retailer's stock after purchasing an additional 12,012 shares during the quarter. Costco Wholesale accounts for 0.7% of Asset Management One Co. Ltd.'s portfolio, making the stock its 21st largest holding. Asset Management One Co. Ltd. owned approximately 0.05% of Costco Wholesale worth $210,377,000 as of its most recent SEC filing.
A number of other institutional investors also recently added to or reduced their stakes in the stock. GAMMA Investing LLC boosted its stake in 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 stake in Costco Wholesale during the 4th quarter worth $5,182,316,000. Proficio Capital Partners LLC increased its position in shares of Costco Wholesale by 74,796.3% during the fourth 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 in the last quarter. Leigh Baldwin & CO. LLC bought a new stake in Costco Wholesale in the 4th quarter valued at $95,452,000. Finally, Northern Trust Corp increased its holdings in 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 purchasing an additional 587,303 shares in the last quarter. 68.48% of the stock is owned by institutional investors and hedge funds.
Costco Wholesale Stock Performance
COST stock traded down $15.38 during trading on Wednesday, reaching $986.54. The company had a trading volume of 1,760,778 shares, compared to its average volume of 2,065,166. 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 twelve month low of $793.00 and a twelve month high of $1,078.24. The company has a market cap of $437.51 billion, a price-to-earnings ratio of 55.96, a price-to-earnings-growth ratio of 5.93 and a beta of 1.00. The firm has a 50-day simple moving average of $1,003.94 and a 200-day simple moving average of $981.25.
Costco Wholesale (NASDAQ:COST - Get Free Report) last released its quarterly 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. Costco Wholesale had a net margin of 2.92% and a return on equity of 30.48%. The company had revenue of $63.21 billion for the quarter, compared to analyst estimates of $62.93 billion. During the same quarter last year, the business earned $3.78 earnings per share. The firm's revenue was up 8.0% on a year-over-year basis. As a group, sell-side analysts expect that Costco Wholesale Corporation will post 18.03 earnings per share for the current year.
Costco Wholesale Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, May 16th. Stockholders of record on Friday, May 2nd were issued a dividend of $1.30 per share. This is a boost from Costco Wholesale's previous quarterly dividend of $1.16. This represents a $5.20 annualized dividend and a dividend yield of 0.53%. The ex-dividend date was Friday, May 2nd. Costco Wholesale's payout ratio is currently 29.50%.
Insider Activity at Costco Wholesale
In other Costco Wholesale news, EVP Pierre Riel sold 2,000 shares of the company's stock in a transaction on Friday, June 6th. The shares were 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 owns 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 transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Susan L. Decker sold 547 shares of Costco Wholesale stock in a transaction on Wednesday, June 18th. The shares were sold at an average price of $980.00, for a total transaction of $536,060.00. Following the completion of the transaction, the director now directly owns 11,531 shares in the company, valued at $11,300,380. The trade was a 4.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 10,647 shares of company stock valued at $10,530,961. 0.18% of the stock is owned by company insiders.
Wall Street Analysts Forecast Growth
A number of equities analysts have recently commented on the stock. Loop Capital reduced their price objective on shares of Costco Wholesale from $1,115.00 to $1,110.00 and set a "buy" rating for the company in a research note on Thursday, May 29th. Morgan Stanley lifted their target price on Costco Wholesale from $1,150.00 to $1,225.00 and gave the stock an "overweight" rating in a report on Friday, May 30th. Stifel Nicolaus set a $1,035.00 price objective on shares of Costco Wholesale in a research note on Thursday, May 29th. Robert W. Baird raised their price objective on Costco Wholesale from $1,075.00 to $1,125.00 and gave the company an "outperform" rating in a research note on Friday, March 7th. Finally, Mizuho initiated coverage on Costco Wholesale in a report on Friday, April 11th. They set a "neutral" rating and a $975.00 price objective on the stock. Nine investment analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $1,034.79.
Read Our Latest Stock Report on Costco Wholesale
Costco Wholesale Profile
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Free Report)
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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