Concurrent Investment Advisors LLC Has $14.22 Million Position in Costco Wholesale Corporation (NASDAQ:COST)

Concurrent Investment Advisors LLC lifted its position in shares of Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 20.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,035 shares of the retailer's stock after acquiring an additional 2,527 shares during the period. Concurrent Investment Advisors LLC's holdings in Costco Wholesale were worth $14,220,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Investment Management Corp VA ADV bought a new position in Costco Wholesale during the 4th quarter worth $25,000. Clear Investment Research LLC grew its stake in Costco Wholesale by 22.2% during the 4th 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 last quarter. Aspect Partners LLC grew its stake in Costco Wholesale by 24.4% during the 1st quarter. Aspect Partners LLC now owns 56 shares of the retailer's stock worth $53,000 after buying an additional 11 shares during the last quarter. Capital A Wealth Management LLC bought a new position in Costco Wholesale during the 4th quarter worth $58,000. Finally, Mascagni Wealth Management Inc. bought a new position in Costco Wholesale during the 4th quarter worth $59,000. 68.48% of the stock is owned by institutional investors and hedge funds.

Costco Wholesale Stock Down 0.4%

Costco Wholesale stock traded down $3.75 during mid-day trading on Wednesday, hitting $982.09. The company's stock had a trading volume of 2,764,267 shares, compared to its average volume of 2,213,570. The firm's 50 day moving average is $1,005.36 and its 200 day moving average is $981.68. The company has a market cap of $435.54 billion, a PE ratio of 55.71, a price-to-earnings-growth ratio of 6.17 and a beta of 0.97. 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 52-week low of $793.00 and a 52-week high of $1,078.23.

Costco Wholesale (NASDAQ:COST - Get Free Report) last announced its quarterly earnings data on Thursday, May 29th. The retailer reported $4.28 earnings per share (EPS) for the quarter, topping 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 revenue for the quarter was up 8.0% on a year-over-year basis. During the same period in the prior year, the business earned $3.78 EPS. On average, analysts anticipate that Costco Wholesale Corporation will post 18.03 earnings per share for the current year.

Costco Wholesale Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 16th. Investors of record on Friday, May 2nd were paid a $1.30 dividend. 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%. The ex-dividend date was Friday, May 2nd. Costco Wholesale's dividend payout ratio is currently 29.50%.

Insiders Place Their Bets

In related 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 sale, the executive vice president directly owned 8,210 shares of the company's stock, valued at approximately $8,326,171.50. This represents a 19.59% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Patrick J. Callans sold 3,000 shares of the stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $1,002.77, for a total value of $3,008,310.00. Following the completion of the sale, the executive vice president directly owned 58,543 shares of the company's stock, valued at approximately $58,705,164.11. This represents a 4.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 9,547 shares of company stock valued at $9,496,950 in the last 90 days. Insiders own 0.18% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Cfra Research upgraded Costco Wholesale from a "hold" rating to a "moderate buy" rating in a research note on Friday, April 4th. Telsey Advisory Group reissued an "outperform" rating and issued a $1,100.00 price target on shares of Costco Wholesale in a research note on Thursday, July 3rd. Evercore ISI decreased their price target on Costco Wholesale from $1,075.00 to $1,060.00 and set an "outperform" rating for the company in a research note on Tuesday, June 17th. Loop Capital decreased their price target on 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. Finally, Wall Street Zen raised Costco Wholesale from a "hold" rating to a "buy" rating in a research note on Friday, June 6th. Nine analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the stock. According to MarketBeat, Costco Wholesale currently has a consensus rating of "Moderate Buy" and an average target price of $1,034.79.

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.