Baker Boyer National Bank cut its holdings in shares of Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 19.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,791 shares of the retailer's stock after selling 444 shares during the quarter. Costco Wholesale comprises approximately 0.6% of Baker Boyer National Bank's portfolio, making the stock its 15th biggest holding. Baker Boyer National Bank's holdings in Costco Wholesale were worth $1,694,000 as of its most recent SEC filing.
Other institutional investors have also recently bought and sold shares of the company. May Barnhard Investments LLC acquired a new position in shares of Costco Wholesale during the fourth quarter worth $485,000. Brighton Jones LLC boosted its position in Costco Wholesale by 12.3% in the 4th quarter. Brighton Jones LLC now owns 19,825 shares of the retailer's stock valued at $18,165,000 after buying an additional 2,172 shares during the last quarter. Revolve Wealth Partners LLC grew its stake in shares of Costco Wholesale by 13.1% during the fourth quarter. Revolve Wealth Partners LLC now owns 1,123 shares of the retailer's stock valued at $1,029,000 after acquiring an additional 130 shares in the last quarter. Bank Pictet & Cie Europe AG increased its position in shares of Costco Wholesale by 45.0% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 117,254 shares of the retailer's stock worth $107,436,000 after acquiring an additional 36,384 shares during the last quarter. Finally, Highview Capital Management LLC DE grew its holdings in Costco Wholesale by 0.8% during the 4th quarter. Highview Capital Management LLC DE now owns 4,813 shares of the retailer's stock worth $4,410,000 after acquiring an additional 40 shares in the last quarter. 68.48% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
COST has been the subject of several recent research reports. Robert W. Baird boosted their target price on shares of 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. Sanford C. Bernstein restated an "outperform" rating on shares of Costco Wholesale in a research note on Friday, March 7th. Wall Street Zen upgraded shares of Costco Wholesale from a "hold" rating to a "buy" rating in a research note on Friday, June 6th. Cfra Research raised Costco Wholesale from a "hold" rating to a "moderate buy" rating in a research note on Friday, April 4th. Finally, Morgan Stanley increased their price target on Costco Wholesale from $1,150.00 to $1,225.00 and gave the company an "overweight" rating in a research report on Friday, May 30th. Nine equities research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $1,034.79.
Check Out Our Latest Analysis on COST
Insider Activity at Costco Wholesale
In other news, EVP James C. Klauer sold 4,000 shares of Costco Wholesale stock in a transaction that occurred on 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 sale, the executive vice president directly owned 43,994 shares in the company, valued at $43,161,193.58. This trade represents a 8.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 transaction of $536,060.00. Following the sale, the director directly owned 11,531 shares in the company, valued at $11,300,380. This trade represents a 4.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 9,547 shares of company stock valued at $9,496,950. 0.18% of the stock is owned by insiders.
Costco Wholesale Price Performance
Shares of COST stock traded up $3.91 during trading hours on Friday, reaching $986.27. 1,101,351 shares of the company were exchanged, compared to its average volume of 2,076,297. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.02 and a quick ratio of 0.52. The company has a market cap of $437.39 billion, a price-to-earnings ratio of 55.94, a P/E/G ratio of 6.14 and a beta of 0.97. The stock's fifty day moving average is $1,005.20 and its two-hundred day moving average is $981.08. Costco Wholesale Corporation has a fifty-two week low of $793.00 and a fifty-two week high of $1,078.24.
Costco Wholesale (NASDAQ:COST - Get Free Report) last released its quarterly earnings data on Thursday, May 29th. The retailer reported $4.28 earnings per share for the quarter, topping the consensus estimate of $4.24 by $0.04. The business had revenue of $63.21 billion for 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%. Costco Wholesale's quarterly revenue was up 8.0% compared to the same quarter last year. During the same quarter last year, the firm earned $3.78 EPS. Sell-side analysts forecast that Costco Wholesale Corporation will post 18.03 earnings per share for the current fiscal year.
Costco Wholesale Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, May 16th. Investors of record on Friday, May 2nd were issued a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.53%. This is a positive change from Costco Wholesale's previous quarterly dividend of $1.16. The ex-dividend date of this dividend was Friday, May 2nd. Costco Wholesale's dividend payout ratio (DPR) is presently 29.50%.
About Costco Wholesale
(
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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