Costco Wholesale Co. (NASDAQ:COST) Position Reduced by GPS Wealth Strategies Group LLC

GPS Wealth Strategies Group LLC lowered its stake in shares of Costco Wholesale Co. (NASDAQ:COST - Free Report) by 4.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,869 shares of the retailer's stock after selling 286 shares during the quarter. Costco Wholesale comprises about 0.9% of GPS Wealth Strategies Group LLC's holdings, making the stock its 23rd largest position. GPS Wealth Strategies Group LLC's holdings in Costco Wholesale were worth $6,497,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of the stock. Investment Management Corp VA ADV purchased a new position in Costco Wholesale in the fourth quarter valued at approximately $25,000. Synergy Investment Management LLC acquired a new stake in shares of Costco Wholesale in the fourth quarter worth $31,000. NewSquare Capital LLC raised its stake in shares of Costco Wholesale by 250.0% in the 4th quarter. NewSquare Capital LLC now owns 35 shares of the retailer's stock valued at $32,000 after acquiring an additional 25 shares during the period. Collier Financial purchased a new position in shares of Costco Wholesale in the 4th quarter valued at $35,000. Finally, Clear Investment Research LLC lifted its holdings in shares of Costco Wholesale by 22.2% during the 4th quarter. Clear Investment Research LLC now owns 55 shares of the retailer's stock valued at $51,000 after acquiring an additional 10 shares in the last quarter. 68.48% of the stock is currently owned by hedge funds and other institutional investors.

Costco Wholesale Stock Performance

Shares of Costco Wholesale stock traded down $13.18 during trading hours on Friday, reaching $989.53. The company's stock had a trading volume of 1,118,955 shares, compared to its average volume of 2,059,354. Costco Wholesale Co. has a one year low of $793.00 and a one year high of $1,078.24. The company's 50 day simple moving average is $998.80 and its 200 day simple moving average is $980.70. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.43 and a current ratio of 0.98. The stock has a market cap of $438.83 billion, a P/E ratio of 58.15, a price-to-earnings-growth ratio of 6.15 and a beta of 1.00.

Costco Wholesale (NASDAQ:COST - Get Free Report) last issued its 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 firm 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% on a year-over-year basis. During the same quarter last year, the company posted $3.78 earnings per share. As a group, analysts expect that Costco Wholesale Co. will post 18.03 EPS 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 given a dividend of $1.30 per share. The ex-dividend date was Friday, May 2nd. This represents a $5.20 dividend on an annualized basis and a yield of 0.53%. This is a positive change from Costco Wholesale's previous quarterly dividend of $1.16. Costco Wholesale's payout ratio is currently 29.50%.

Insider Activity at Costco Wholesale

In other news, EVP Patrick J. Callans sold 3,000 shares of the business's stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $1,002.77, for a total transaction of $3,008,310.00. Following the completion of the transaction, the executive vice president now directly owns 58,543 shares in the company, valued at approximately $58,705,164.11. The trade was a 4.87% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Gary Millerchip sold 1,100 shares of the firm's stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $940.01, for a total value of $1,034,011.00. Following the completion of the sale, the executive vice president now owns 11,165 shares in the company, valued at approximately $10,495,211.65. This represents a 8.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 11,000 shares of company stock worth $10,825,205 in the last 90 days. 0.18% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Cfra Research upgraded Costco Wholesale from a "hold" rating to a "moderate buy" rating in a report on Friday, April 4th. Cowen reiterated a "buy" rating on shares of Costco Wholesale in a research note on Friday, March 7th. Morgan Stanley boosted their price target on Costco Wholesale from $1,150.00 to $1,225.00 and gave the stock an "overweight" rating in a research report on Friday, May 30th. Telsey Advisory Group restated an "outperform" rating and issued a $1,100.00 price target on shares of Costco Wholesale in a report on Tuesday, June 3rd. Finally, Evercore ISI raised their price target on shares of Costco Wholesale from $1,070.00 to $1,075.00 and gave the company an "outperform" rating in a report on Thursday, May 29th. Nine investment analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $1,035.32.

Costco Wholesale Company 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.