Marco Investment Management LLC Has $38.13 Million Stake in Costco Wholesale Corporation (NASDAQ:COST)

Key Points

• Marco Investment Management LLC reduced its stake in Costco Wholesale Corporation by 0.7%, making it the 4th largest position in their portfolio, valued at approximately $38.1 million.
• Research analysts have given Costco a consensus rating of "Moderate Buy" with an average price target of $1,037.48, reflecting positive growth expectations.
• Costco has announced a quarterly dividend of $1.30 per share, with a dividend yield of 0.56%, to be paid on August 15th to stockholders of record on August 1st.

Marco Investment Management LLC lessened its holdings in shares of Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 0.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 40,319 shares of the retailer's stock after selling 285 shares during the period. Costco Wholesale makes up approximately 3.5% of Marco Investment Management LLC's portfolio, making the stock its 4th biggest holding. Marco Investment Management LLC's holdings in Costco Wholesale were worth $38,133,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Investment Management Corp VA ADV purchased a new position in Costco Wholesale during the fourth quarter worth about $25,000. Aspect Partners LLC grew its stake in shares of Costco Wholesale by 24.4% in the first quarter. Aspect Partners LLC now owns 56 shares of the retailer's stock valued at $53,000 after buying an additional 11 shares in the last quarter. Capital A Wealth Management LLC acquired a new stake in shares of Costco Wholesale in the fourth quarter valued at about $58,000. Mascagni Wealth Management Inc. acquired a new stake in shares of Costco Wholesale in the fourth quarter valued at about $59,000. Finally, Bank & Trust Co grew its stake in shares of Costco Wholesale by 20.4% in the first quarter. Bank & Trust Co now owns 65 shares of the retailer's stock valued at $61,000 after buying an additional 11 shares in the last quarter. Institutional investors and hedge funds own 68.48% of the company's stock.

Insider Buying and Selling at Costco Wholesale

In related news, EVP Pierre Riel sold 2,000 shares of the business's stock in a transaction on Friday, June 6th. The shares were sold at an average price of $1,014.15, for a total value of $2,028,300.00. Following the sale, the executive vice president owned 8,210 shares of the company's stock, valued at $8,326,171.50. The trade was a 19.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Susan L. Decker sold 547 shares of the business's stock in a transaction on Wednesday, June 18th. The shares were sold at an average price of $980.00, for a total transaction of $536,060.00. Following the completion of the transaction, the director owned 11,531 shares in the company, valued at approximately $11,300,380. The trade was a 4.53% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 9,547 shares of company stock worth $9,472,510. Company insiders own 0.18% of the company's stock.

Costco Wholesale Stock Up 1.6%

Shares of Costco Wholesale stock traded up $15.14 during trading hours on Friday, reaching $953.48. 1,800,021 shares of the company's stock were exchanged, compared to its average volume of 2,209,510. Costco Wholesale Corporation has a fifty-two week low of $793.00 and a fifty-two week high of $1,078.23. The company has a current ratio of 1.02, a quick ratio of 0.52 and a debt-to-equity ratio of 0.21. The stock has a market cap of $422.85 billion, a P/E ratio of 54.08, a P/E/G ratio of 5.77 and a beta of 0.97. The company has a 50 day moving average of $984.46 and a two-hundred day moving average of $983.58.

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, beating analysts' consensus estimates of $4.24 by $0.04. The business had revenue of $63.21 billion for the quarter, compared to analysts' expectations of $62.93 billion. Costco Wholesale had a net margin of 2.92% and a return on equity of 30.48%. The firm's quarterly revenue was up 8.0% compared to the same quarter last year. During the same period last year, the firm posted $3.78 earnings per share. On average, sell-side analysts forecast that Costco Wholesale Corporation will post 18.03 EPS for the current fiscal year.

Costco Wholesale Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Friday, August 1st will be paid a $1.30 dividend. The ex-dividend date of this dividend is Friday, August 1st. This represents a $5.20 annualized dividend and a dividend yield of 0.5%. Costco Wholesale's payout ratio is currently 29.50%.

Wall Street Analysts Forecast Growth

COST has been the subject of a number of analyst reports. Morgan Stanley increased their price target on Costco Wholesale from $1,150.00 to $1,225.00 and gave the company an "overweight" rating in a report on Friday, May 30th. Mizuho initiated coverage on Costco Wholesale in a report on Friday, April 11th. They issued a "neutral" rating and a $975.00 price target on the stock. Cfra Research raised Costco Wholesale from a "hold" rating to a "moderate buy" rating in a report on Friday, April 4th. Telsey Advisory Group restated an "outperform" rating and issued a $1,100.00 target price on shares of Costco Wholesale in a research report on Thursday, July 10th. Finally, Evercore ISI lowered their target price on 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. Nine analysts have rated the stock with a hold rating and twenty have given a buy rating to the company's stock. According to data from MarketBeat, Costco Wholesale presently has an average rating of "Moderate Buy" and an average price target of $1,037.48.

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.