Wedbush Securities Inc. Has $113.47 Million Stake in Costco Wholesale Corporation (NASDAQ:COST)

Wedbush Securities Inc. grew its holdings in shares of Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 0.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 119,972 shares of the retailer's stock after buying an additional 537 shares during the period. Costco Wholesale accounts for about 4.2% of Wedbush Securities Inc.'s holdings, making the stock its 3rd largest holding. Wedbush Securities Inc.'s holdings in Costco Wholesale were worth $113,467,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Investment Management Corp VA ADV acquired a new position in Costco Wholesale during the 4th quarter worth approximately $25,000. Aspect Partners LLC increased its holdings in shares of Costco Wholesale by 24.4% during the 1st 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 stake in Costco Wholesale in the 4th quarter valued at $58,000. Mascagni Wealth Management Inc. acquired a new stake in Costco Wholesale in the 4th quarter valued at $59,000. Finally, Bank & Trust Co boosted its position in Costco Wholesale by 20.4% in the 1st quarter. Bank & Trust Co now owns 65 shares of the retailer's stock valued at $61,000 after buying an additional 11 shares during the last quarter. Institutional investors and hedge funds own 68.48% of the company's stock.

Insider Activity

In related news, EVP Yoram Rubanenko sold 4,000 shares of Costco Wholesale stock in a transaction on Monday, July 14th. The shares were sold at an average price of $974.96, for a total value of $3,899,840.00. Following the transaction, the executive vice president owned 5,774 shares in the company, valued at $5,629,419.04. This trade represents a 40.92% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Patrick J. Callans sold 3,000 shares of the business's stock in a transaction dated 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 transaction, the executive vice president owned 58,543 shares in the company, valued at approximately $58,705,164.11. The trade was a 4.87% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 9,547 shares of company stock worth $9,472,510. Insiders own 0.18% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on COST shares. Evercore ISI decreased their price objective on shares of 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. 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 price objective for the company. Loop Capital decreased 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 research report on Thursday, May 29th. Stifel Nicolaus set a $1,035.00 price objective on shares of Costco Wholesale in a research report on Thursday, May 29th. Finally, Cfra Research raised shares of Costco Wholesale from a "hold" rating to a "moderate buy" rating in a research report on Friday, April 4th. Nine investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $1,037.48.

Costco Wholesale Trading Up 0.2%

NASDAQ COST traded up $1.68 on Friday, hitting $935.48. 1,825,525 shares of the stock were exchanged, compared to its average volume of 1,969,335. Costco Wholesale Corporation has a 52-week low of $793.00 and a 52-week high of $1,078.23. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.02 and a quick ratio of 0.52. The company has a market capitalization of $414.87 billion, a price-to-earnings ratio of 53.06, a P/E/G ratio of 5.81 and a beta of 0.97. The company's 50-day moving average price is $992.04 and its two-hundred day moving average price is $983.45.

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, beating analysts' consensus estimates of $4.24 by $0.04. The company had revenue of $63.21 billion during the quarter, compared to analyst estimates of $62.93 billion. Costco Wholesale had a net margin of 2.92% and a return on equity of 30.48%. The company's revenue for the quarter was up 8.0% on a year-over-year basis. During the same quarter last year, the business posted $3.78 EPS. Research analysts predict that Costco Wholesale Corporation will post 18.03 EPS for the current year.

Costco Wholesale Announces Dividend

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. This represents a $5.20 annualized dividend and a dividend yield of 0.56%. The ex-dividend date is Friday, August 1st. Costco Wholesale's payout ratio is presently 29.50%.

Costco Wholesale 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.