Harbour Investment Management LLC reduced its stake in Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 6.2% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 18,407 shares of the retailer's stock after selling 1,220 shares during the quarter. Costco Wholesale accounts for 7.9% of Harbour Investment Management LLC's investment portfolio, making the stock its 2nd largest position. Harbour Investment Management LLC's holdings in Costco Wholesale were worth $17,409,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently added to or reduced their stakes in COST. Geode Capital Management LLC lifted its holdings in Costco Wholesale by 2.7% during the 4th quarter. Geode Capital Management LLC now owns 9,739,175 shares of the retailer's stock worth $8,901,249,000 after buying an additional 252,118 shares in the last quarter. F&V Capital Management LLC acquired a new stake in shares of Costco Wholesale in the 1st quarter valued at $236,000. Umpqua Bank raised its holdings in shares of Costco Wholesale by 14.7% in the 4th quarter. Umpqua Bank now owns 4,507 shares of the retailer's stock valued at $4,134,000 after purchasing an additional 577 shares in the last quarter. Curat Global LLC acquired a new stake in shares of Costco Wholesale in the 1st quarter valued at $241,000. Finally, Sequoia Financial Advisors LLC raised its holdings in shares of Costco Wholesale by 32.6% in the 4th quarter. Sequoia Financial Advisors LLC now owns 68,976 shares of the retailer's stock valued at $63,200,000 after purchasing an additional 16,967 shares in the last quarter. 68.48% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of brokerages have recently weighed in on COST. Morgan Stanley raised their price objective on shares of Costco Wholesale from $1,150.00 to $1,225.00 and gave the company an "overweight" rating in a report on Friday, May 30th. Wall Street Zen upgraded shares of Costco Wholesale from a "hold" rating to a "buy" rating in a report on Friday, June 6th. Loop Capital reduced their price objective on shares of Costco Wholesale from $1,115.00 to $1,110.00 and set a "buy" rating on the stock in a report on Thursday, May 29th. Stifel Nicolaus set a $1,035.00 price objective on shares of Costco Wholesale in a report on Thursday, May 29th. Finally, Cfra Research upgraded shares of Costco Wholesale from a "hold" rating to a "moderate buy" rating in a report on Friday, April 4th. Nine investment analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $1,034.79.
Get Our Latest Research Report on Costco Wholesale
Costco Wholesale Stock Performance
Costco Wholesale stock traded up $0.16 during midday trading on Friday, hitting $970.33. 1,939,399 shares of the company's stock were exchanged, compared to its average volume of 2,068,105. Costco Wholesale Corporation has a 12-month low of $793.00 and a 12-month high of $1,078.24. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.52 and a current ratio of 1.02. The stock has a market cap of $430.32 billion, a price-to-earnings ratio of 55.04, a price-to-earnings-growth ratio of 6.03 and a beta of 0.97. The firm's 50 day simple moving average is $1,003.77 and its 200 day simple moving average is $981.90.
Costco Wholesale (NASDAQ:COST - Get Free Report) last issued 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. Costco Wholesale had a net margin of 2.92% and a return on equity of 30.48%. The company had revenue of $63.21 billion for the quarter, compared to the consensus estimate of $62.93 billion. During the same period last year, the firm posted $3.78 EPS. Costco Wholesale's revenue for the quarter was up 8.0% on a year-over-year basis. Equities research analysts predict that Costco Wholesale Corporation will post 18.03 EPS for the current year.
Costco Wholesale Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, May 16th. Stockholders of record on Friday, May 2nd were issued a $1.30 dividend. 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. This represents a $5.20 annualized dividend and a dividend yield of 0.54%. Costco Wholesale's payout ratio is presently 29.50%.
Insider Activity
In other news, EVP James C. Klauer sold 4,000 shares of Costco Wholesale 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 sale, the executive vice president owned 43,994 shares of the company's stock, valued at $43,161,193.58. The trade was a 8.33% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Pierre Riel sold 2,000 shares of Costco Wholesale stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $1,014.15, for a total transaction of $2,028,300.00. Following the completion of the sale, the executive vice president directly owned 8,210 shares in the company, valued at approximately $8,326,171.50. The trade was a 19.59% decrease in their position. The disclosure for this sale can be found here. Insiders sold 9,547 shares of company stock worth $9,496,950 in the last ninety days. 0.18% of the stock is currently owned by insiders.
About Costco Wholesale
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Free Report)
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.
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