Axxcess Wealth Management LLC Lowers Stock Position in Costco Wholesale Corporation (NASDAQ:COST)

Axxcess Wealth Management LLC cut its stake in Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 9.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 14,020 shares of the retailer's stock after selling 1,481 shares during the period. Axxcess Wealth Management LLC's holdings in Costco Wholesale were worth $13,260,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Investment Management Corp VA ADV purchased a new position in shares of Costco Wholesale during the fourth quarter worth $25,000. Clear Investment Research LLC boosted its position in shares of Costco Wholesale by 22.2% during the fourth quarter. Clear Investment Research LLC now owns 55 shares of the retailer's stock worth $51,000 after buying an additional 10 shares during the period. Aspect Partners LLC boosted its position in shares of Costco Wholesale by 24.4% during the first quarter. Aspect Partners LLC now owns 56 shares of the retailer's stock worth $53,000 after buying an additional 11 shares during the period. Capital A Wealth Management LLC purchased a new position in shares of Costco Wholesale during the fourth quarter worth $58,000. Finally, Mascagni Wealth Management Inc. purchased a new position in shares of Costco Wholesale during the fourth quarter worth $59,000. 68.48% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Susan L. Decker sold 547 shares of the business's stock in a transaction dated Wednesday, June 18th. The stock was sold at an average price of $980.00, for a total value of $536,060.00. Following the transaction, the director owned 11,531 shares in the company, valued at $11,300,380. The trade was a 4.53% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP James C. Klauer sold 4,000 shares of the business's stock in a transaction dated Thursday, April 17th. The shares were sold at an average price of $981.07, for a total value of $3,924,280.00. Following the completion of the transaction, the executive vice president owned 43,994 shares in the company, valued at $43,161,193.58. This trade represents a 8.33% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 9,547 shares of company stock worth $9,496,950. Insiders own 0.18% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently commented on COST. Wall Street Zen upgraded Costco Wholesale from a "hold" rating to a "buy" rating in a research report on Friday, June 6th. Stifel Nicolaus set a $1,035.00 price target on Costco Wholesale in a research report on Thursday, May 29th. Cfra Research upgraded Costco Wholesale from a "hold" rating to a "moderate buy" rating in a research report on Friday, April 4th. Loop Capital decreased their target price on Costco Wholesale from $1,115.00 to $1,110.00 and set a "buy" rating for the company in a report on Thursday, May 29th. Finally, Truist Financial lifted their target price 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 equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. Based on data from MarketBeat, Costco Wholesale presently has a consensus rating of "Moderate Buy" and an average target price of $1,037.48.

Costco Wholesale Stock Performance

Shares of COST traded up $0.16 during midday trading on Friday, reaching $970.33. 1,939,399 shares of the stock were exchanged, compared to its average volume of 2,063,204. The business's 50-day moving average price is $1,003.77 and its 200 day moving average price is $982.06. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.02 and a quick ratio of 0.52. 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 capitalization of $430.32 billion, a price-to-earnings ratio of 55.04, a PEG ratio of 6.04 and a beta of 0.97.

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, topping analysts' consensus estimates of $4.24 by $0.04. Costco Wholesale had a return on equity of 30.48% and a net margin of 2.92%. The business had revenue of $63.21 billion for the quarter, compared to analysts' expectations of $62.93 billion. During the same quarter in the previous year, the firm earned $3.78 earnings per share. The business's revenue was up 8.0% compared to the same quarter last year. On average, sell-side analysts expect that Costco Wholesale Corporation will post 18.03 EPS for the current fiscal year.

Costco Wholesale Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 16th. Investors of record on Friday, May 2nd were given a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 0.54%. The ex-dividend date was Friday, May 2nd. This is a boost from Costco Wholesale's previous quarterly dividend of $1.16. Costco Wholesale's payout ratio is 29.50%.

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.