Procyon Advisors LLC Purchases 561 Shares of Costco Wholesale Co. (NASDAQ:COST)

Procyon Advisors LLC grew its stake in shares of Costco Wholesale Co. (NASDAQ:COST - Free Report) by 5.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,658 shares of the retailer's stock after acquiring an additional 561 shares during the period. Procyon Advisors LLC's holdings in Costco Wholesale were worth $10,080,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Capital & Planning LLC boosted its stake in Costco Wholesale by 28.7% during the 4th quarter. Capital & Planning LLC now owns 3,756 shares of the retailer's stock valued at $3,441,000 after purchasing an additional 837 shares during the period. Redmond Asset Management LLC bought a new stake in shares of Costco Wholesale during the 4th quarter worth about $1,214,000. May Barnhard Investments LLC bought a new stake in shares of Costco Wholesale during the 4th quarter worth about $485,000. Ironwood Wealth Management LLC. raised its position in shares of Costco Wholesale by 0.6% during the 4th quarter. Ironwood Wealth Management LLC. now owns 3,852 shares of the retailer's stock worth $3,529,000 after buying an additional 22 shares in the last quarter. Finally, Brighton Jones LLC raised 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 purchasing an additional 2,172 shares in the last quarter. 68.48% of the stock is currently owned by institutional investors.

Insider Transactions at Costco Wholesale

In other Costco Wholesale news, EVP James C. Klauer sold 4,000 shares of the firm'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 sale, the executive vice president now owns 43,994 shares in the company, valued at approximately $43,161,193.58. This trade represents a 8.33% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Claudine Adamo sold 900 shares of the firm's stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $922.56, for a total transaction of $830,304.00. Following the completion of the sale, the executive vice president now owns 6,987 shares of the company's stock, valued at $6,445,926.72. The trade was a 11.41% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 9,600 shares of company stock valued at $9,140,195. Company insiders own 0.18% of the company's stock.

Costco Wholesale Stock Performance

Shares of NASDAQ COST traded up $4.13 during trading hours on Friday, hitting $1,014.94. 1,852,907 shares of the stock were exchanged, compared to its average volume of 2,056,283. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.98 and a quick ratio of 0.43. The company's 50 day moving average is $993.68 and its 200 day moving average is $979.31. The firm has a market capitalization of $450.31 billion, a P/E ratio of 59.60, a P/E/G ratio of 6.15 and a beta of 1.00. Costco Wholesale Co. has a one year low of $793.00 and a one year high of $1,078.24.

Costco Wholesale (NASDAQ:COST - Get Free Report) last posted 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 business had revenue of $63.21 billion during the quarter, compared to the consensus estimate of $62.93 billion. Costco Wholesale had a net margin of 2.93% and a return on equity of 32.31%. Costco Wholesale's quarterly revenue was up 8.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.78 EPS. On average, research analysts expect that Costco Wholesale Co. will post 18.03 EPS for the current year.

Costco Wholesale Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 16th. Stockholders 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 0.51%. 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. Costco Wholesale's dividend payout ratio (DPR) is presently 29.50%.

Analyst Ratings Changes

Several research analysts have recently weighed in on COST shares. Cfra Research raised shares of Costco Wholesale from a "hold" rating to a "moderate buy" rating in a research report on Friday, April 4th. Sanford C. Bernstein reissued an "outperform" rating on shares of Costco Wholesale in a research report on Friday, March 7th. Mizuho started coverage on shares of Costco Wholesale in a research report on Friday, April 11th. They issued a "neutral" rating and a $975.00 target price on the stock. Loop Capital dropped their target price on shares of Costco Wholesale from $1,115.00 to $1,110.00 and set a "buy" rating on the stock in a research report on Thursday, May 29th. Finally, Truist Financial lifted their target price on shares of Costco Wholesale from $995.00 to $1,042.00 and gave the stock a "hold" rating in a research report on Friday, May 30th. Nine analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $1,035.32.

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.