Alpha Cubed Investments LLC Buys 2,472 Shares of Costco Wholesale Corporation (NASDAQ:COST)

Alpha Cubed Investments LLC lifted its stake in shares of Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 8.7% in the first quarter, according to its most recent filing with the SEC. The fund owned 30,895 shares of the retailer's stock after acquiring an additional 2,472 shares during the period. Costco Wholesale makes up 1.3% of Alpha Cubed Investments LLC's investment portfolio, making the stock its 23rd biggest position. Alpha Cubed Investments LLC's holdings in Costco Wholesale were worth $29,220,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in the stock. Investment Management Corp VA ADV purchased a new position in Costco Wholesale in the 4th quarter worth $25,000. Clear Investment Research LLC increased its position in shares of Costco Wholesale by 22.2% in the fourth quarter. Clear Investment Research LLC now owns 55 shares of the retailer's stock valued at $51,000 after acquiring an additional 10 shares during the period. Aspect Partners LLC increased its position 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 acquiring an additional 11 shares during the period. Capital A Wealth Management LLC purchased a new position in shares of Costco Wholesale in the fourth quarter valued at about $58,000. Finally, Mascagni Wealth Management Inc. purchased a new position in shares of Costco Wholesale in the fourth quarter valued at about $59,000. 68.48% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have issued reports on COST. Cfra Research upgraded shares of Costco Wholesale from a "hold" rating to a "moderate buy" rating in a research report on Friday, April 4th. Wall Street Zen upgraded shares of Costco Wholesale from a "hold" rating to a "buy" rating in a research report on Friday, June 6th. Mizuho began 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 on the stock. Telsey Advisory Group restated an "outperform" rating and issued a $1,100.00 price objective on shares of Costco Wholesale in a research report on Thursday. Finally, Loop Capital decreased 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 research report on Thursday, May 29th. Nine investment analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company. According to MarketBeat, Costco Wholesale has an average rating of "Moderate Buy" and an average price target of $1,034.79.

Insider Activity

In other news, EVP Pierre Riel sold 2,000 shares of the company's stock in a transaction that occurred 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 transaction, the executive vice president owned 8,210 shares in the company, valued at approximately $8,326,171.50. This represents a 19.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP James C. Klauer sold 4,000 shares of the company's stock in a transaction that occurred on Thursday, April 17th. The stock was sold at an average price of $981.07, for a total transaction of $3,924,280.00. Following the completion of the transaction, the executive vice president owned 43,994 shares in the company, valued at approximately $43,161,193.58. This represents a 8.33% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 9,547 shares of company stock worth $9,496,950. Corporate insiders own 0.18% of the company's stock.

Costco Wholesale Stock Up 0.0%

COST traded up $0.16 during midday trading on Friday, reaching $970.33. The company's stock had a trading volume of 1,939,399 shares, compared to its average volume of 2,068,105. The firm has a market capitalization of $430.32 billion, a price-to-earnings ratio of 55.04, a PEG ratio of 6.03 and a beta of 0.97. The company has a current ratio of 1.02, a quick ratio of 0.52 and a debt-to-equity ratio of 0.21. Costco Wholesale Corporation has a 1 year low of $793.00 and a 1 year high of $1,078.24. The stock's 50-day moving average is $1,003.77 and its 200-day moving average is $981.90.

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 the consensus estimate of $4.24 by $0.04. The firm had revenue of $63.21 billion for the quarter, compared to the consensus estimate of $62.93 billion. Costco Wholesale had a net margin of 2.92% and a return on equity of 30.48%. The business's revenue was up 8.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.78 earnings per share. As a group, research analysts expect 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 paid a $1.30 dividend. This represents a $5.20 annualized dividend and a dividend yield of 0.54%. The ex-dividend date was Friday, May 2nd. This is an increase from Costco Wholesale's previous quarterly dividend of $1.16. Costco Wholesale's dividend payout ratio is currently 29.50%.

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.