Cherry Creek Investment Advisors Inc. Sells 337 Shares of Costco Wholesale Corporation (NASDAQ:COST)

Cherry Creek Investment Advisors Inc. lessened its holdings in Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 6.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,277 shares of the retailer's stock after selling 337 shares during the quarter. Costco Wholesale accounts for approximately 2.6% of Cherry Creek Investment Advisors Inc.'s holdings, making the stock its 12th biggest holding. Cherry Creek Investment Advisors Inc.'s holdings in Costco Wholesale were worth $4,991,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the business. Geode Capital Management LLC increased its position in shares of Costco Wholesale by 2.7% during the 4th quarter. Geode Capital Management LLC now owns 9,739,175 shares of the retailer's stock worth $8,901,249,000 after purchasing an additional 252,118 shares in the last quarter. F&V Capital Management LLC acquired a new stake in shares of Costco Wholesale during the first quarter worth approximately $236,000. AMJ Financial Wealth Management raised its stake in shares of Costco Wholesale by 2.6% in the fourth quarter. AMJ Financial Wealth Management now owns 10,536 shares of the retailer's stock valued at $9,654,000 after acquiring an additional 270 shares during the last quarter. Umpqua Bank grew its position in Costco Wholesale by 14.7% during the 4th quarter. Umpqua Bank now owns 4,507 shares of the retailer's stock worth $4,134,000 after acquiring an additional 577 shares during the last quarter. Finally, Curat Global LLC bought a new stake in Costco Wholesale during the 1st quarter worth approximately $241,000. 68.48% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on COST shares. Stifel Nicolaus set a $1,035.00 price objective on Costco Wholesale in a research note on Thursday, May 29th. Evercore ISI reduced their target price on shares of Costco Wholesale from $1,075.00 to $1,060.00 and set an "outperform" rating on the stock in a research report on Tuesday, June 17th. Mizuho initiated coverage on shares of Costco Wholesale in a research report on Friday, April 11th. They issued a "neutral" rating and a $975.00 price objective for the company. JPMorgan Chase & Co. increased their price objective on Costco Wholesale from $1,065.00 to $1,070.00 and gave the company an "overweight" rating in a research report on Friday, March 7th. Finally, Barclays upped their price target on Costco Wholesale from $940.00 to $980.00 and gave the company an "equal weight" rating in a research note on Monday, March 10th. Nine investment analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Costco Wholesale presently has an average rating of "Moderate Buy" and an average target price of $1,034.79.

Insider Activity

In other news, Director Susan L. Decker sold 547 shares of the business's stock in a transaction that occurred on Wednesday, June 18th. The stock was sold at an average price of $980.00, for a total transaction of $536,060.00. Following the completion of the sale, the director now 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 transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP James C. Klauer sold 4,000 shares of the stock in a transaction on Thursday, April 17th. The stock was 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 now owns 43,994 shares in the company, valued at approximately $43,161,193.58. This represents a 8.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 10,647 shares of company stock worth $10,530,961 in the last quarter. 0.18% of the stock is owned by corporate insiders.

Costco Wholesale Price Performance

Shares of NASDAQ:COST traded down $2.56 during trading on Tuesday, hitting $1,001.92. 2,381,733 shares of the company were exchanged, compared to its average volume of 2,066,270. Costco Wholesale Corporation has a 1-year low of $793.00 and a 1-year high of $1,078.24. The business's 50 day moving average is $1,003.44 and its 200-day moving average is $981.11. The company has a quick ratio of 0.52, a current ratio of 1.02 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $444.33 billion, a P/E ratio of 56.83, a price-to-earnings-growth ratio of 5.93 and a beta of 1.00.

Costco Wholesale (NASDAQ:COST - Get Free Report) last issued its quarterly earnings results on Thursday, May 29th. The retailer reported $4.28 earnings per share for the quarter, beating the consensus estimate of $4.24 by $0.04. The company had revenue of $63.21 billion during the quarter, compared to analysts' expectations 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 quarter in the prior year, the firm posted $3.78 earnings per share. Equities analysts forecast that Costco Wholesale Corporation will post 18.03 earnings per share for the current year.

Costco Wholesale Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 16th. Stockholders of record on Friday, May 2nd were given a dividend of $1.30 per share. This is an increase from Costco Wholesale's previous quarterly dividend of $1.16. The ex-dividend date of this dividend was Friday, May 2nd. This represents a $5.20 annualized dividend and a dividend yield of 0.52%. Costco Wholesale's dividend payout ratio (DPR) is 29.50%.

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.