Harbour Investments Inc. Has $9.92 Million Stock Position in Costco Wholesale Corporation (NASDAQ:COST)

Key Points

• Harbour Investments Inc. increased its stake in Costco Wholesale by 3.5%, now owning 10,491 shares valued at approximately $9.9 million.
• Costco recently reported earnings per share of $4.28 for the quarter, beating estimates, with revenue increasing by 8.0% year-over-year.
• The company declared a quarterly dividend of $1.30 per share, with an annualized yield of 0.56%, to be paid on August 15th.

Harbour Investments Inc. increased its holdings in shares of Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 3.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 10,491 shares of the retailer's stock after acquiring an additional 354 shares during the quarter. Harbour Investments Inc.'s holdings in Costco Wholesale were worth $9,922,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. Peninsula Wealth LLC boosted its stake in Costco Wholesale by 1.2% in the fourth quarter. Peninsula Wealth LLC now owns 818 shares of the retailer's stock valued at $749,000 after acquiring an additional 10 shares in the last quarter. Bosun Asset Management LLC lifted its position in Costco Wholesale by 1.6% in the fourth quarter. Bosun Asset Management LLC now owns 636 shares of the retailer's stock valued at $583,000 after purchasing an additional 10 shares during the period. Corps Capital Advisors LLC increased its holdings in Costco Wholesale by 0.7% in the first quarter. Corps Capital Advisors LLC now owns 1,547 shares of the retailer's stock valued at $1,463,000 after buying an additional 10 shares in the last quarter. NFP Retirement Inc. increased its holdings in Costco Wholesale by 1.1% in the fourth quarter. NFP Retirement Inc. now owns 980 shares of the retailer's stock valued at $898,000 after buying an additional 11 shares in the last quarter. Finally, Coppell Advisory Solutions LLC increased its stake in shares of Costco Wholesale by 0.3% during the 4th quarter. Coppell Advisory Solutions LLC now owns 3,437 shares of the retailer's stock worth $3,163,000 after purchasing an additional 11 shares in the last quarter. 68.48% of the stock is currently owned by institutional investors.

Insider Activity

In other Costco Wholesale 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Susan L. Decker sold 547 shares of the company's stock in a transaction that occurred on Wednesday, June 18th. The shares were sold at an average price of $980.00, for a total transaction of $536,060.00. Following the completion of the transaction, the director owned 11,531 shares in the company, valued at approximately $11,300,380. This represents a 4.53% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 9,547 shares of company stock worth $9,472,510. Company insiders own 0.18% of the company's stock.

Analysts Set New Price Targets

COST has been the subject of several recent analyst reports. Evercore ISI lowered their target price on shares of Costco Wholesale from $1,075.00 to $1,060.00 and set an "outperform" rating for the company in a research note on Tuesday, June 17th. Loop Capital reduced their target price 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. Cfra Research upgraded shares of Costco Wholesale from a "hold" rating to a "moderate buy" rating in a report on Friday, April 4th. Stifel Nicolaus set a $1,035.00 target price on shares of Costco Wholesale in a research report on Thursday, May 29th. Finally, Telsey Advisory Group reissued an "outperform" rating and issued a $1,100.00 target price on shares of Costco Wholesale in a research report on Thursday, July 10th. Nine investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $1,037.48.

Costco Wholesale Price Performance

COST stock traded up $12.13 on Thursday, hitting $939.64. 2,560,014 shares of the company's stock traded hands, compared to its average volume of 1,946,133. Costco Wholesale Corporation has a 1-year low of $793.00 and a 1-year high of $1,078.23. The stock has a market cap of $416.71 billion, a price-to-earnings ratio of 53.30, a P/E/G ratio of 5.77 and a beta of 0.97. The stock has a fifty day moving average of $984.46 and a 200-day moving average of $983.58. 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 (NASDAQ:COST - Get Free Report) last posted 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 net margin of 2.92% and a return on equity of 30.48%. The firm had revenue of $63.21 billion during the quarter, compared to analyst estimates of $62.93 billion. During the same quarter last year, the business posted $3.78 EPS. The company's revenue was up 8.0% on a year-over-year basis. On average, analysts forecast that Costco Wholesale Corporation will post 18.03 EPS for the current fiscal year.

Costco Wholesale Dividend Announcement

The company 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. The ex-dividend date of this dividend is Friday, August 1st. This represents a $5.20 dividend on an annualized basis and a yield of 0.6%. Costco Wholesale's dividend payout ratio (DPR) is currently 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.