Great Lakes Retirement Inc. Acquires 255 Shares of Costco Wholesale Co. (NASDAQ:COST)

Great Lakes Retirement Inc. boosted its stake in Costco Wholesale Co. (NASDAQ:COST - Free Report) by 2.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,603 shares of the retailer's stock after acquiring an additional 255 shares during the period. Costco Wholesale accounts for approximately 1.2% of Great Lakes Retirement Inc.'s holdings, making the stock its 25th biggest holding. Great Lakes Retirement Inc.'s holdings in Costco Wholesale were worth $9,082,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Capital & Planning LLC raised its position in shares of Costco Wholesale by 28.7% in the 4th quarter. Capital & Planning LLC now owns 3,756 shares of the retailer's stock worth $3,441,000 after acquiring an additional 837 shares in the last quarter. Redmond Asset Management LLC purchased a new stake in Costco Wholesale in the fourth quarter worth $1,214,000. May Barnhard Investments LLC bought a new position in Costco Wholesale in the fourth quarter worth $485,000. Ironwood Wealth Management LLC. lifted its position in Costco Wholesale by 0.6% during the fourth quarter. Ironwood Wealth Management LLC. now owns 3,852 shares of the retailer's stock valued at $3,529,000 after buying an additional 22 shares during the period. Finally, Brighton Jones LLC grew its position in shares of Costco Wholesale by 12.3% in the 4th quarter. Brighton Jones LLC now owns 19,825 shares of the retailer's stock worth $18,165,000 after buying an additional 2,172 shares during the period. 68.48% of the stock is owned by hedge funds and other institutional investors.

Costco Wholesale Trading Down 1.2%

Shares of COST stock opened at $990.21 on Monday. The company has a current ratio of 0.98, a quick ratio of 0.43 and a debt-to-equity ratio of 0.23. Costco Wholesale Co. has a 12-month low of $793.00 and a 12-month high of $1,078.24. The stock has a market capitalization of $439.14 billion, a P/E ratio of 58.15, a P/E/G ratio of 6.15 and a beta of 1.00. The firm's 50 day moving average is $1,000.43 and its 200 day moving average is $981.10.

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, topping analysts' consensus estimates of $4.24 by $0.04. Costco Wholesale had a return on equity of 32.31% and a net margin of 2.93%. The firm had revenue of $63.21 billion for the quarter, compared to the consensus estimate of $62.93 billion. During the same period last year, the business posted $3.78 EPS. The company's revenue for the quarter was up 8.0% on a year-over-year basis. Research analysts expect that Costco Wholesale Co. will post 18.03 earnings per share for the current year.

Costco Wholesale Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 16th. Shareholders of record on Friday, May 2nd were given a $1.30 dividend. This represents a $5.20 annualized dividend 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 (DPR) is presently 29.50%.

Insider Buying and Selling at Costco Wholesale

In other Costco Wholesale news, EVP Pierre Riel sold 2,000 shares of the stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $1,014.15, for a total value of $2,028,300.00. Following the transaction, the executive vice president now directly owns 8,210 shares in the company, valued at approximately $8,326,171.50. This trade represents a 19.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Patrick J. Callans sold 3,000 shares of the business'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 now directly owns 58,543 shares of the company's stock, valued at approximately $58,705,164.11. The trade was a 4.87% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 11,000 shares of company stock worth $10,825,205 in the last three months. 0.18% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on COST shares. Mizuho assumed coverage on shares of Costco Wholesale in a research report on Friday, April 11th. They set a "neutral" rating and a $975.00 price target for the company. Loop Capital lowered their target price on shares of Costco Wholesale from $1,115.00 to $1,110.00 and set a "buy" rating for the company in a report on Thursday, May 29th. Stifel Nicolaus set a $1,035.00 price target on Costco Wholesale in a research report on Thursday, May 29th. Cowen reaffirmed a "buy" rating on shares of Costco Wholesale in a research report on Friday, March 7th. Finally, Sanford C. Bernstein reiterated an "outperform" rating on shares of Costco Wholesale in a research note on Friday, March 7th. Nine analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. Based on data from MarketBeat.com, Costco Wholesale has an average rating of "Moderate Buy" and an average price target of $1,035.32.

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.

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