Parkside Investments LLC increased its stake in shares of Costco Wholesale Co. (NASDAQ:COST - Free Report) by 576.6% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,429 shares of the retailer's stock after buying an additional 2,070 shares during the period. Parkside Investments LLC's holdings in Costco Wholesale were worth $2,297,000 as of its most recent SEC filing.
Other large investors have also added to or reduced their stakes in the company. Capital & Planning LLC increased its stake in shares of Costco Wholesale by 28.7% in the fourth quarter. Capital & Planning LLC now owns 3,756 shares of the retailer's stock worth $3,441,000 after purchasing an additional 837 shares in the last quarter. Redmond Asset Management LLC bought a new stake in Costco Wholesale during the fourth quarter valued at approximately $1,214,000. May Barnhard Investments LLC bought a new stake in Costco Wholesale during the fourth quarter valued at approximately $485,000. Ironwood Wealth Management LLC. lifted its position in Costco Wholesale by 0.6% during the fourth quarter. Ironwood Wealth Management LLC. now owns 3,852 shares of the retailer's stock valued at $3,529,000 after purchasing an additional 22 shares during the last quarter. Finally, Brighton Jones LLC lifted its holdings in shares of Costco Wholesale by 12.3% in the 4th quarter. Brighton Jones LLC now owns 19,825 shares of the retailer's stock worth $18,165,000 after acquiring an additional 2,172 shares during the last quarter. Hedge funds and other institutional investors own 68.48% of the company's stock.
Analysts Set New Price Targets
A number of equities research analysts have recently weighed in on COST shares. Wall Street Zen upgraded shares of Costco Wholesale from a "hold" rating to a "buy" rating in a report on Friday, June 6th. Loop Capital lowered 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 report on Thursday, May 29th. Morgan Stanley lifted their target price on shares of Costco Wholesale from $1,150.00 to $1,225.00 and gave the stock an "overweight" rating in a research note on Friday, May 30th. Cowen reaffirmed a "buy" rating on shares of Costco Wholesale in a research note on Friday, March 7th. Finally, Telsey Advisory Group reaffirmed an "outperform" rating and issued a $1,100.00 target price on shares of Costco Wholesale in a research note on Tuesday, June 3rd. Nine analysts have rated the stock with a hold rating and twenty-one have assigned 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 $1,035.32.
Read Our Latest Research Report on COST
Insider Buying and Selling at Costco Wholesale
In related news, EVP Claudine Adamo sold 900 shares of the stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $922.56, for a total value of $830,304.00. Following the completion of the sale, the executive vice president now directly owns 6,987 shares of the company's stock, valued at approximately $6,445,926.72. This represents a 11.41% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Pierre Riel sold 2,000 shares of the stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $1,014.15, for a total transaction of $2,028,300.00. Following the completion of the sale, the executive vice president now directly owns 8,210 shares of the company's stock, valued at $8,326,171.50. This represents a 19.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 11,000 shares of company stock worth $10,825,205. Company insiders own 0.18% of the company's stock.
Costco Wholesale Stock Down 0.6%
Shares of NASDAQ:COST traded down $5.85 during midday trading on Monday, reaching $984.36. The company's stock had a trading volume of 2,103,625 shares, compared to its average volume of 2,067,421. The firm has a 50 day moving average of $1,001.94 and a 200-day moving average of $981.18. The firm has a market capitalization of $436.54 billion, a P/E ratio of 57.80, a PEG ratio of 6.15 and a beta of 1.00. The company has a quick ratio of 0.43, a current ratio of 0.98 and a debt-to-equity ratio of 0.23. Costco Wholesale Co. has a 12-month low of $793.00 and a 12-month high of $1,078.24.
Costco Wholesale (NASDAQ:COST - Get Free Report) last announced its quarterly earnings results on Thursday, May 29th. The retailer reported $4.28 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.24 by $0.04. The company had revenue of $63.21 billion for the quarter, compared to analysts' expectations of $62.93 billion. Costco Wholesale had a net margin of 2.93% and a return on equity of 32.31%. Costco Wholesale's revenue was up 8.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.78 EPS. On average, research analysts anticipate that Costco Wholesale Co. 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. Shareholders of record on Friday, May 2nd were paid a dividend of $1.30 per share. The ex-dividend date of this dividend was Friday, May 2nd. This represents a $5.20 annualized dividend and a yield of 0.53%. This is a boost from Costco Wholesale's previous quarterly dividend of $1.16. Costco Wholesale's dividend payout ratio is currently 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.
Read More
Before you consider Costco Wholesale, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Costco Wholesale wasn't on the list.
While Costco Wholesale currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
