Everhart Financial Group Inc. boosted its position in Costco Wholesale Co. (NASDAQ:COST - Free Report) by 20.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,216 shares of the retailer's stock after acquiring an additional 717 shares during the quarter. Costco Wholesale accounts for approximately 0.5% of Everhart Financial Group Inc.'s portfolio, making the stock its 29th largest holding. Everhart Financial Group Inc.'s holdings in Costco Wholesale were worth $3,987,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Investment Management Corp VA ADV purchased a new position in shares of Costco Wholesale during the fourth quarter valued at approximately $25,000. Synergy Investment Management LLC bought a new position in shares of Costco Wholesale during the 4th quarter valued at $31,000. NewSquare Capital LLC grew its stake in shares of Costco Wholesale by 250.0% during the 4th quarter. NewSquare Capital LLC now owns 35 shares of the retailer's stock valued at $32,000 after purchasing an additional 25 shares during the period. Clear Investment Research LLC raised its position in 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 acquiring an additional 10 shares during the period. Finally, Capital A Wealth Management LLC purchased a new position in Costco Wholesale during the fourth quarter valued at $58,000. Institutional investors own 68.48% of the company's stock.
Costco Wholesale Price Performance
Shares of Costco Wholesale stock traded down $12.50 during trading on Friday, hitting $990.21. The stock had a trading volume of 1,782,964 shares, compared to its average volume of 2,064,562. Costco Wholesale Co. has a fifty-two week low of $793.00 and a fifty-two week high of $1,078.24. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.98 and a quick ratio of 0.43. The firm has a market cap of $439.14 billion, a P/E ratio of 58.15, a PEG ratio of 6.15 and a beta of 1.00. The business has a fifty day moving average of $998.80 and a two-hundred day moving average of $980.70.
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 (EPS) for the quarter, beating analysts' consensus estimates of $4.24 by $0.04. The business had revenue of $63.21 billion for the quarter, compared to analyst estimates of $62.93 billion. Costco Wholesale had a net margin of 2.93% and a return on equity of 32.31%. The firm's revenue was up 8.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.78 earnings per share. On average, sell-side analysts expect that Costco Wholesale Co. 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. Shareholders of record on Friday, May 2nd were issued a dividend of $1.30 per share. 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 of this dividend was Friday, May 2nd. Costco Wholesale's dividend payout ratio is 29.50%.
Analyst Upgrades and Downgrades
A number of brokerages have recently issued reports on COST. Robert W. Baird increased their price objective on shares of Costco Wholesale from $1,075.00 to $1,125.00 and gave the stock an "outperform" rating in a research note on Friday, March 7th. Evercore ISI boosted their target price on Costco Wholesale from $1,070.00 to $1,075.00 and gave the company an "outperform" rating in a research report on Thursday, May 29th. Telsey Advisory Group reaffirmed an "outperform" rating and issued a $1,100.00 price target on shares of Costco Wholesale in a research note on Tuesday, June 3rd. Stifel Nicolaus set a $1,035.00 price objective on shares of Costco Wholesale in a research note on Thursday, May 29th. Finally, Mizuho started coverage on shares of Costco Wholesale in a report on Friday, April 11th. They issued a "neutral" rating and a $975.00 price target on the stock. Nine investment analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $1,035.32.
Read Our Latest Stock Report on COST
Insider Buying and Selling
In related news, EVP Claudine Adamo sold 900 shares of the firm's stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $922.56, for a total transaction of $830,304.00. Following the completion of the transaction, the executive vice president now owns 6,987 shares in the company, valued at $6,445,926.72. This trade represents a 11.41% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Patrick J. Callans sold 3,000 shares of the business's stock in a transaction dated 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 completion of the transaction, the executive vice president now owns 58,543 shares in the company, valued at approximately $58,705,164.11. This trade represents a 4.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 11,000 shares of company stock valued at $10,825,205. 0.18% of the stock is owned by company insiders.
Costco Wholesale Profile
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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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