Envestnet Asset Management Inc. Purchases 15,019 Shares of Costco Wholesale Corporation (NASDAQ:COST)

Envestnet Asset Management Inc. lifted its position in shares of Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 2.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 596,414 shares of the retailer's stock after buying an additional 15,019 shares during the quarter. Envestnet Asset Management Inc. owned about 0.13% of Costco Wholesale worth $564,077,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Miramar Capital LLC lifted its position in shares of Costco Wholesale by 1.9% during the fourth quarter. Miramar Capital LLC now owns 525 shares of the retailer's stock valued at $481,000 after purchasing an additional 10 shares in the last quarter. Clear Investment Research LLC increased its stake 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 worth $51,000 after purchasing an additional 10 shares in the last quarter. Peninsula Wealth LLC increased its stake in shares of Costco Wholesale by 1.2% in the fourth quarter. Peninsula Wealth LLC now owns 818 shares of the retailer's stock worth $749,000 after purchasing an additional 10 shares in the last quarter. Bosun Asset Management LLC grew its stake in Costco Wholesale by 1.6% during the fourth quarter. Bosun Asset Management LLC now owns 636 shares of the retailer's stock valued at $583,000 after acquiring an additional 10 shares in the last quarter. Finally, Lifeworks Advisors LLC grew its stake in Costco Wholesale by 1.2% during the fourth quarter. Lifeworks Advisors LLC now owns 895 shares of the retailer's stock valued at $820,000 after acquiring an additional 11 shares in the last quarter. 68.48% of the stock is currently owned by institutional investors and hedge funds.

Costco Wholesale Stock Down 1.0%

Shares of NASDAQ COST traded down $10.02 during mid-day trading on Wednesday, hitting $975.83. The company had a trading volume of 966,282 shares, compared to its average volume of 2,069,405. Costco Wholesale Corporation has a one year low of $793.00 and a one year high of $1,078.24. The company has a current ratio of 1.02, a quick ratio of 0.52 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $432.76 billion, a PE ratio of 55.35, a price-to-earnings-growth ratio of 6.17 and a beta of 0.97. The firm has a 50-day simple moving average of $1,005.36 and a two-hundred day simple moving average of $981.68.

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

Costco Wholesale Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 16th. Shareholders of record on Friday, May 2nd were paid a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.53%. The ex-dividend date was Friday, May 2nd. This is a boost from Costco Wholesale's previous quarterly dividend of $1.16. Costco Wholesale's payout ratio is presently 29.50%.

Insider Buying and Selling at Costco Wholesale

In related news, EVP James C. Klauer sold 4,000 shares of the business's stock in a transaction on Thursday, April 17th. The shares were sold at an average price of $981.07, for a total value of $3,924,280.00. Following the sale, the executive vice president owned 43,994 shares of the company's stock, valued at $43,161,193.58. The trade was a 8.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Patrick J. Callans sold 3,000 shares of the company's stock in a transaction on Monday, June 9th. The shares were sold at an average price of $1,002.77, for a total transaction of $3,008,310.00. Following the sale, the executive vice president directly owned 58,543 shares in the company, valued at $58,705,164.11. This trade represents a 4.87% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 9,547 shares of company stock worth $9,496,950. Company insiders own 0.18% of the company's stock.

Analysts Set New Price Targets

COST has been the subject of a number of recent research reports. Mizuho assumed 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. Morgan Stanley increased their price objective on shares of Costco Wholesale from $1,150.00 to $1,225.00 and gave the stock an "overweight" rating in a research note on Friday, May 30th. Evercore ISI cut their price objective on shares of Costco Wholesale from $1,075.00 to $1,060.00 and set an "outperform" rating for the company in a report on Tuesday, June 17th. Cfra Research raised shares of Costco Wholesale from a "hold" rating to a "moderate buy" rating in a research note on Friday, April 4th. Finally, Truist Financial lifted their price objective on Costco Wholesale from $995.00 to $1,042.00 and gave the company a "hold" rating in a report on Friday, May 30th. Nine analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average 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.