Golden State Wealth Management LLC Has $8.35 Million Stake in Costco Wholesale Corporation (NASDAQ:COST)

Golden State Wealth Management LLC grew its holdings in shares of Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 116.9% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 8,824 shares of the retailer's stock after purchasing an additional 4,756 shares during the period. Golden State Wealth Management LLC's holdings in Costco Wholesale were worth $8,353,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Investment Management Corp VA ADV acquired a new stake in Costco Wholesale during the fourth quarter worth about $25,000. Synergy Investment Management LLC bought a new position in shares of Costco Wholesale during the fourth quarter valued at approximately $31,000. NewSquare Capital LLC raised its position in shares of Costco Wholesale by 250.0% during the 4th quarter. NewSquare Capital LLC now owns 35 shares of the retailer's stock worth $32,000 after purchasing an additional 25 shares during the period. Clear Investment Research LLC lifted its holdings in shares of Costco Wholesale by 22.2% in the 4th 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 last quarter. Finally, Capital A Wealth Management LLC acquired a new position in Costco Wholesale during the 4th quarter valued at approximately $58,000. 68.48% of the stock is currently owned by institutional investors.

Costco Wholesale Trading Up 0.2%

Shares of NASDAQ COST traded up $2.23 during mid-day trading on Friday, hitting $985.14. 2,128,085 shares of the company traded hands, compared to its average volume of 2,073,406. 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 1 year low of $793.00 and a 1 year high of $1,078.24. The stock has a market capitalization of $436.89 billion, a price-to-earnings ratio of 55.88, a PEG ratio of 5.81 and a beta of 1.00. The business has a 50 day moving average of $1,004.08 and a two-hundred day moving average of $981.26.

Costco Wholesale (NASDAQ:COST - Get Free Report) last posted 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 return on equity of 30.48% and a net margin of 2.92%. The firm had revenue of $63.21 billion for the quarter, compared to the consensus estimate of $62.93 billion. During the same quarter in the previous year, the company earned $3.78 EPS. The business's revenue for the quarter was up 8.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Costco Wholesale Corporation will post 18.03 earnings per share for the current fiscal year.

Costco Wholesale Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 16th. Investors of record on Friday, May 2nd were given a $1.30 dividend. This represents a $5.20 annualized dividend and a dividend yield of 0.53%. The ex-dividend date of this dividend 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 29.50%.

Insider Buying and Selling

In other Costco Wholesale news, EVP Pierre Riel sold 2,000 shares of Costco Wholesale stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $1,014.15, for a total transaction of $2,028,300.00. Following the transaction, the executive vice president now owns 8,210 shares of the company's stock, valued at $8,326,171.50. The trade was a 19.59% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Patrick J. Callans sold 3,000 shares of the company's stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $1,002.77, for a total value of $3,008,310.00. Following the completion of the transaction, the executive vice president now owns 58,543 shares in the company, valued at $58,705,164.11. This represents a 4.87% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 9,547 shares of company stock valued at $9,496,950. Company insiders own 0.18% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on COST shares. Barclays upped their price objective on Costco Wholesale from $940.00 to $980.00 and gave the stock an "equal weight" rating in a research note on Monday, March 10th. Wall Street Zen upgraded Costco Wholesale from a "hold" rating to a "buy" rating in a research report on Friday, June 6th. Cowen reaffirmed a "buy" rating on shares of Costco Wholesale in a research note on Friday, March 7th. Evercore ISI cut their price objective on shares of Costco Wholesale from $1,075.00 to $1,060.00 and set an "outperform" rating on the stock in a research note on Tuesday, June 17th. Finally, Mizuho began coverage on shares of Costco Wholesale in a report on Friday, April 11th. They issued a "neutral" rating and a $975.00 price objective for the company. Nine research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $1,034.79.

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.