Violich Capital Management Inc. Sells 3,932 Shares of Costco Wholesale Corporation (NASDAQ:COST)

Violich Capital Management Inc. lessened its position in Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 7.0% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 52,580 shares of the retailer's stock after selling 3,932 shares during the period. Costco Wholesale makes up 6.7% of Violich Capital Management Inc.'s holdings, making the stock its 6th largest position. Violich Capital Management Inc.'s holdings in Costco Wholesale were worth $49,729,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of COST. Investment Management Corp VA ADV acquired a new position in Costco Wholesale during the fourth quarter valued at $25,000. Clear Investment Research LLC boosted its position in Costco Wholesale by 22.2% during the fourth quarter. Clear Investment Research LLC now owns 55 shares of the retailer's stock worth $51,000 after purchasing an additional 10 shares during the period. Aspect Partners LLC lifted its holdings in shares of Costco Wholesale by 24.4% during the first 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 acquired a new position in shares of Costco Wholesale during the fourth quarter worth approximately $58,000. Finally, Mascagni Wealth Management Inc. acquired a new position in shares of Costco Wholesale during the fourth quarter worth approximately $59,000. Institutional investors own 68.48% of the company's stock.

Costco Wholesale Trading Down 1.3%

Shares of Costco Wholesale stock traded down $13.23 during trading on Tuesday, reaching $967.68. 1,874,145 shares of the company were exchanged, compared to its average volume of 2,060,924. The company has a quick ratio of 0.52, a current ratio of 1.02 and a debt-to-equity ratio of 0.21. Costco Wholesale Corporation has a twelve month low of $793.00 and a twelve month high of $1,078.24. The business has a 50-day moving average price of $1,003.09 and a 200-day moving average price of $982.53. The firm has a market capitalization of $429.15 billion, a price-to-earnings ratio of 54.89, a P/E/G ratio of 6.10 and a beta of 0.97.

Costco Wholesale (NASDAQ:COST - Get Free Report) last announced its quarterly earnings data on Thursday, May 29th. The retailer reported $4.28 EPS for the quarter, topping analysts' consensus estimates of $4.24 by $0.04. Costco Wholesale had a return on equity of 30.48% and a net margin of 2.92%. The business had revenue of $63.21 billion during the quarter, compared to analysts' expectations of $62.93 billion. During the same period in the previous year, the firm earned $3.78 earnings per share. The firm's quarterly revenue was up 8.0% compared to the same quarter last year. Sell-side analysts anticipate that Costco Wholesale Corporation will post 18.03 EPS for the current fiscal year.

Costco Wholesale Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 16th. Shareholders of record on Friday, May 2nd were paid a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 0.54%. This is a boost from Costco Wholesale's previous quarterly dividend of $1.16. The ex-dividend date was Friday, May 2nd. Costco Wholesale's payout ratio is presently 29.50%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Evercore ISI reduced their price objective on Costco Wholesale from $1,075.00 to $1,060.00 and set an "outperform" rating for the company in a research report on Tuesday, June 17th. Telsey Advisory Group restated an "outperform" rating and set a $1,100.00 target price on shares of Costco Wholesale in a research report on Thursday, July 10th. Mizuho initiated coverage on Costco Wholesale in a research report on Friday, April 11th. They set a "neutral" rating and a $975.00 target price for the company. Cfra Research upgraded Costco Wholesale from a "hold" rating to a "moderate buy" rating in a research report on Friday, April 4th. Finally, Stifel Nicolaus set a $1,035.00 price objective on Costco Wholesale in a research report on Thursday, May 29th. Nine analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $1,037.48.

Insider Transactions at Costco Wholesale

In other news, EVP Yoram Rubanenko sold 4,000 shares of the business's stock in a transaction dated Monday, July 14th. The stock was sold at an average price of $974.96, for a total value of $3,899,840.00. Following the sale, the executive vice president directly owned 5,774 shares in the company, valued at $5,629,419.04. The trade was a 40.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP James C. Klauer sold 4,000 shares of the business'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 owned 43,994 shares in the company, valued at approximately $43,161,193.58. This trade represents a 8.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 13,547 shares of company stock valued at $13,396,790. Insiders own 0.18% of the company's stock.

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.