Gradient Investments LLC Boosts Holdings in Costco Wholesale Co. (NASDAQ:COST)

Gradient Investments LLC grew its position in shares of Costco Wholesale Co. (NASDAQ:COST - Free Report) by 18.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 25,251 shares of the retailer's stock after purchasing an additional 3,903 shares during the period. Gradient Investments LLC's holdings in Costco Wholesale were worth $23,882,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Investment Management Corp VA ADV purchased a new position in shares of Costco Wholesale in the fourth quarter worth $25,000. Synergy Investment Management LLC purchased a new position in shares of Costco Wholesale in the fourth quarter worth $31,000. NewSquare Capital LLC raised its position in 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 last quarter. Collier Financial bought a new position in Costco Wholesale during the 4th quarter valued at approximately $35,000. Finally, Barrett & Company Inc. raised its position in Costco Wholesale by 59.3% during the 4th quarter. Barrett & Company Inc. now owns 43 shares of the retailer's stock valued at $39,000 after purchasing an additional 16 shares during the last quarter. Institutional investors own 68.48% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Robert W. Baird upped their price target on Costco Wholesale from $1,075.00 to $1,125.00 and gave the company an "outperform" rating in a research report on Friday, March 7th. Truist Financial increased their target price on Costco Wholesale from $995.00 to $1,042.00 and gave the stock a "hold" rating in a research report on Friday, May 30th. Loop Capital decreased their target price on 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. Barclays upped their price target on Costco Wholesale from $940.00 to $980.00 and gave the stock an "equal weight" rating in a research note on Monday, March 10th. Finally, Stifel Nicolaus set a $1,035.00 price target on Costco Wholesale in a research note on Thursday, May 29th. Ten analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $1,035.32.

Costco Wholesale Price Performance

NASDAQ:COST traded down $34.76 on Thursday, reaching $1,016.93. 1,701,437 shares of the company's stock traded hands, compared to its average volume of 2,049,758. The company has a quick ratio of 0.43, a current ratio of 0.98 and a debt-to-equity ratio of 0.23. The stock has a 50-day simple moving average of $991.17 and a 200-day simple moving average of $978.09. The firm has a market cap of $451.19 billion, a PE ratio of 59.71, a P/E/G ratio of 6.15 and a beta of 1.00. Costco Wholesale Co. has a 12 month low of $793.00 and a 12 month high of $1,078.24.

Costco Wholesale (NASDAQ:COST - Get Free Report) last issued its quarterly earnings data 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. The firm had revenue of $63.21 billion during the quarter, compared to analyst estimates of $62.93 billion. Costco Wholesale had a return on equity of 32.31% and a net margin of 2.93%. The business's quarterly revenue was up 8.0% compared to the same quarter last year. During the same quarter last year, the business posted $3.78 earnings per share. Equities research analysts forecast that Costco Wholesale Co. will post 18.03 earnings per share for the current year.

Costco Wholesale Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 16th. Investors of record on Friday, May 2nd were given a $1.30 dividend. The ex-dividend date was Friday, May 2nd. This represents a $5.20 annualized dividend and a yield of 0.51%. This is a positive change from Costco Wholesale's previous quarterly dividend of $1.16. Costco Wholesale's dividend payout ratio (DPR) is currently 30.36%.

Insider Buying and Selling

In other Costco Wholesale news, EVP James C. Klauer sold 4,000 shares of the firm's stock in a transaction dated 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 completion of the sale, the executive vice president now owns 43,994 shares of the company's stock, valued at $43,161,193.58. This trade represents a 8.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Claudine Adamo sold 900 shares of Costco Wholesale stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $922.56, for a total transaction of $830,304.00. Following the sale, the executive vice president now directly owns 6,987 shares of the company's stock, valued at $6,445,926.72. This represents a 11.41% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 9,600 shares of company stock worth $9,140,195. Corporate insiders own 0.18% of the company's stock.

Costco Wholesale 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.