Gibraltar Capital Management Inc. Acquires Shares of 6,700 Costco Wholesale Corporation (NASDAQ:COST)

Gibraltar Capital Management Inc. acquired a new position in Costco Wholesale Corporation (NASDAQ:COST - Free Report) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 6,700 shares of the retailer's stock, valued at approximately $6,337,000.

Other hedge funds also recently added to or reduced their stakes in the company. Investment Management Corp VA ADV purchased a new stake in shares of Costco Wholesale during the fourth quarter valued at about $25,000. Clear Investment Research LLC lifted its position in shares of Costco Wholesale by 22.2% during the fourth quarter. Clear Investment Research LLC now owns 55 shares of the retailer's stock valued at $51,000 after buying an additional 10 shares during the last quarter. Aspect Partners LLC lifted its position 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 buying an additional 11 shares during the last quarter. Capital A Wealth Management LLC purchased a new stake in shares of Costco Wholesale during the fourth quarter valued at about $58,000. Finally, Mascagni Wealth Management Inc. purchased a new stake in shares of Costco Wholesale during the fourth quarter valued at about $59,000. 68.48% of the stock is owned by hedge funds and other institutional investors.

Costco Wholesale Stock Performance

Shares of NASDAQ COST traded down $6.34 during midday trading on Tuesday, reaching $985.84. 1,714,765 shares of the stock were exchanged, compared to its average volume of 2,073,564. The firm has a market cap of $437.20 billion, a price-to-earnings ratio of 55.92, a PEG ratio of 6.17 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 firm has a 50-day simple moving average of $1,005.48 and a two-hundred day simple moving average of $981.65. The company has a quick ratio of 0.52, a current ratio of 1.02 and a debt-to-equity ratio of 0.21.

Costco Wholesale (NASDAQ:COST - Get Free Report) last issued 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 business had revenue of $63.21 billion for the quarter, compared to analysts' expectations of $62.93 billion. During the same quarter last year, the company earned $3.78 EPS. The business's revenue was up 8.0% on a year-over-year basis. As a group, analysts anticipate that Costco Wholesale Corporation will post 18.03 EPS for the current fiscal year.

Costco Wholesale Increases Dividend

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

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Cfra Research raised shares of Costco Wholesale from a "hold" rating to a "moderate buy" rating in a research report on Friday, April 4th. 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. Wall Street Zen raised shares of Costco Wholesale from a "hold" rating to a "buy" rating in a research report on Friday, June 6th. Stifel Nicolaus set a $1,035.00 price target on shares of Costco Wholesale in a research report on Thursday, May 29th. Finally, Mizuho initiated coverage on shares of Costco Wholesale in a report on Friday, April 11th. They set a "neutral" rating and a $975.00 price objective on the stock. Nine equities research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. According to data from MarketBeat, Costco Wholesale currently has an average rating of "Moderate Buy" and an average target price of $1,034.79.

Insiders Place Their Bets

In other news, EVP James C. Klauer sold 4,000 shares of the stock in a transaction that occurred on Thursday, April 17th. The stock was sold at an average price of $981.07, for a total transaction of $3,924,280.00. Following the transaction, the executive vice president owned 43,994 shares in the company, valued at $43,161,193.58. This trade represents a 8.33% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Patrick J. Callans sold 3,000 shares of the stock in a transaction that occurred on Monday, June 9th. The shares were 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 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. Over the last quarter, insiders have sold 9,547 shares of company stock worth $9,496,950. Corporate 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.