Zullo Investment Group Inc. Trims Stock Position in Costco Wholesale Corporation (NASDAQ:COST)

Zullo Investment Group Inc. lowered its stake in shares of Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 15.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,910 shares of the retailer's stock after selling 353 shares during the quarter. Zullo Investment Group Inc.'s holdings in Costco Wholesale were worth $1,807,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in COST. Investment Management Corp VA ADV purchased a new position in shares of Costco Wholesale in the 4th quarter worth $25,000. Clear Investment Research LLC raised its position 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 buying an additional 10 shares during the period. Aspect Partners LLC raised its position in shares of Costco Wholesale by 24.4% in 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 period. Capital A Wealth Management LLC purchased a new position in shares of Costco Wholesale in the 4th quarter worth $58,000. Finally, Mascagni Wealth Management Inc. purchased a new position in shares of Costco Wholesale in the 4th quarter worth $59,000. Hedge funds and other institutional investors own 68.48% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on COST. Mizuho began coverage on Costco Wholesale in a report on Friday, April 11th. They issued a "neutral" rating and a $975.00 price target for the company. Wall Street Zen upgraded Costco Wholesale from a "hold" rating to a "buy" rating in a report on Friday, June 6th. Cfra Research upgraded Costco Wholesale from a "hold" rating to a "moderate buy" rating in a report on Friday, April 4th. Loop Capital lowered their price target on Costco Wholesale from $1,115.00 to $1,110.00 and set a "buy" rating for the company in a report on Thursday, May 29th. Finally, Stifel Nicolaus set a $1,035.00 price target on Costco Wholesale in a report on Thursday, May 29th. Nine investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company's stock. According to MarketBeat, Costco Wholesale has a consensus rating of "Moderate Buy" and an average price target of $1,037.48.

Costco Wholesale Price Performance

COST stock traded up $0.16 during trading on Friday, reaching $970.33. 1,939,399 shares of the company were exchanged, compared to its average volume of 2,063,204. The company has a 50-day moving average of $1,003.77 and a two-hundred day moving average of $982.06. The company has a market capitalization of $430.32 billion, a price-to-earnings ratio of 55.04, a P/E/G ratio of 6.04 and a beta of 0.97. Costco Wholesale Corporation has a twelve month low of $793.00 and a twelve month high of $1,078.24. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.02 and a quick ratio of 0.52.

Costco Wholesale (NASDAQ:COST - Get Free Report) last announced its quarterly earnings results on Thursday, May 29th. The retailer reported $4.28 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $63.21 billion during the quarter, compared to analysts' expectations of $62.93 billion. During the same period in the prior year, the company posted $3.78 EPS. The company's revenue was up 8.0% on a year-over-year basis. As a group, equities analysts predict that Costco Wholesale Corporation will post 18.03 earnings per share for the current fiscal year.

Costco Wholesale Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 16th. Investors of record on Friday, May 2nd were paid a dividend of $1.30 per share. The ex-dividend date was Friday, May 2nd. This is a positive change from Costco Wholesale's previous quarterly dividend of $1.16. This represents a $5.20 annualized dividend and a yield of 0.54%. Costco Wholesale's dividend payout ratio is currently 29.50%.

Insider Activity at Costco Wholesale

In related news, EVP James C. Klauer sold 4,000 shares of the stock in a transaction on Thursday, April 17th. The shares were sold at an average price of $981.07, for a total transaction of $3,924,280.00. Following the transaction, the executive vice president directly owned 43,994 shares of the company's stock, valued at $43,161,193.58. This represents a 8.33% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Pierre Riel sold 2,000 shares of the firm's 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 sale, the executive vice president owned 8,210 shares of the company's stock, valued at $8,326,171.50. This trade represents a 19.59% decrease in their position. The disclosure for this sale can be found here. Insiders sold 9,547 shares of company stock valued at $9,496,950 in the last ninety days. Insiders own 0.18% of the company's stock.

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.