Arcadia Investment Management Corp MI decreased its holdings in shares of Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 6.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 23,969 shares of the retailer's stock after selling 1,779 shares during the quarter. Costco Wholesale comprises about 4.1% of Arcadia Investment Management Corp MI's investment portfolio, making the stock its 5th largest position. Arcadia Investment Management Corp MI's holdings in Costco Wholesale were worth $22,670,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Investment Management Corp VA ADV bought a new position in Costco Wholesale during the 4th quarter valued at about $25,000. Clear Investment Research LLC increased its stake in 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 stake in shares of Costco Wholesale by 24.4% during 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 in the last quarter. Capital A Wealth Management LLC bought a new position in shares of Costco Wholesale during the 4th quarter worth $58,000. Finally, Mascagni Wealth Management Inc. purchased a new position in Costco Wholesale during the 4th quarter valued at about $59,000. Hedge funds and other institutional investors own 68.48% of the company's stock.
Costco Wholesale Stock Performance
COST stock traded down $3.75 on Wednesday, hitting $982.09. The company's stock had a trading volume of 2,911,606 shares, compared to its average volume of 2,076,933. The stock has a market cap of $435.54 billion, a price-to-earnings ratio of 55.71, a price-to-earnings-growth ratio of 6.17 and a beta of 0.97. The firm has a 50 day moving average of $1,005.36 and a two-hundred day moving average of $981.68. 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.
Costco Wholesale (NASDAQ:COST - Get Free Report) last issued its quarterly earnings results on Thursday, May 29th. The retailer reported $4.28 earnings per share 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 during the quarter, compared to the consensus estimate of $62.93 billion. During the same period last year, the company earned $3.78 earnings per share. The company's revenue for the quarter was up 8.0% on a year-over-year basis. Equities analysts predict that Costco Wholesale Corporation will post 18.03 EPS for the current fiscal year.
Costco Wholesale Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 16th. Investors of record on Friday, May 2nd were paid a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 0.53%. This is a boost from Costco Wholesale's previous quarterly dividend of $1.16. The ex-dividend date was Friday, May 2nd. Costco Wholesale's dividend payout ratio is presently 29.50%.
Analyst Upgrades and Downgrades
Several research firms have commented on COST. Loop Capital decreased their price target on shares of Costco Wholesale from $1,115.00 to $1,110.00 and set a "buy" rating for the company in a research report on Thursday, May 29th. Stifel Nicolaus set a $1,035.00 price objective on shares of Costco Wholesale in a research report on Thursday, May 29th. Mizuho assumed coverage on Costco Wholesale in a research note on Friday, April 11th. They set a "neutral" rating and a $975.00 target price for the company. Evercore ISI dropped their price target 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. Finally, Telsey Advisory Group reissued an "outperform" rating and set a $1,100.00 target price on shares of Costco Wholesale in a research note on Thursday, July 3rd. Nine investment analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $1,034.79.
Read Our Latest Report on Costco Wholesale
Insider Buying and Selling at Costco Wholesale
In other news, Director Susan L. Decker sold 547 shares of the stock in a transaction that occurred on Wednesday, June 18th. The shares were sold at an average price of $980.00, for a total value of $536,060.00. Following the sale, the director directly owned 11,531 shares in the company, valued at $11,300,380. This represents a 4.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Patrick J. Callans sold 3,000 shares of Costco Wholesale stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $1,002.77, for a total value of $3,008,310.00. Following the transaction, the executive vice president owned 58,543 shares of the company's stock, valued at $58,705,164.11. This represents a 4.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 9,547 shares of company stock valued at $9,496,950. Insiders own 0.18% of the company's stock.
About Costco Wholesale
(
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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