Ibex Wealth Advisors lifted its position in shares of Costco Wholesale Co. (NASDAQ:COST - Free Report) by 5.7% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,561 shares of the retailer's stock after buying an additional 299 shares during the period. Ibex Wealth Advisors' holdings in Costco Wholesale were worth $5,259,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors have also recently made changes to their positions in COST. First National Bank of Mount Dora Trust Investment Services raised its position in Costco Wholesale by 16.9% in the first quarter. First National Bank of Mount Dora Trust Investment Services now owns 12,911 shares of the retailer's stock valued at $12,211,000 after purchasing an additional 1,869 shares during the period. Manitou Investment Management Ltd. grew its position in Costco Wholesale by 104.2% in the 1st quarter. Manitou Investment Management Ltd. now owns 245 shares of the retailer's stock valued at $232,000 after acquiring an additional 125 shares in the last quarter. Ameliora Wealth Management Ltd. increased its stake in Costco Wholesale by 0.9% during the first quarter. Ameliora Wealth Management Ltd. now owns 2,408 shares of the retailer's stock worth $2,277,000 after purchasing an additional 22 shares during the period. Crescent Sterling Ltd. lifted its position in shares of Costco Wholesale by 11.6% during the first quarter. Crescent Sterling Ltd. now owns 907 shares of the retailer's stock worth $858,000 after purchasing an additional 94 shares in the last quarter. Finally, Accurate Wealth Management LLC grew its holdings in shares of Costco Wholesale by 1.2% in the first quarter. Accurate Wealth Management LLC now owns 1,136 shares of the retailer's stock valued at $1,094,000 after purchasing an additional 13 shares in the last quarter. Hedge funds and other institutional investors own 68.48% of the company's stock.
Insider Activity at Costco Wholesale
In related news, EVP Pierre Riel sold 2,000 shares of the company's stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $1,014.15, for a total value of $2,028,300.00. Following the sale, the executive vice president now owns 8,210 shares in the company, valued at $8,326,171.50. This represents a 19.59% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP James C. Klauer sold 4,000 shares of the firm'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 completion of the transaction, the executive vice president now owns 43,994 shares of the company's stock, valued at approximately $43,161,193.58. This represents a 8.33% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 11,000 shares of company stock worth $10,825,205 over the last three months. 0.18% of the stock is currently owned by corporate insiders.
Analyst Upgrades and Downgrades
Several equities research analysts have weighed in on COST shares. Truist Financial upped their price target on Costco Wholesale from $995.00 to $1,042.00 and gave the stock a "hold" rating in a report on Friday, May 30th. Cfra Research upgraded shares of Costco Wholesale from a "hold" rating to a "moderate buy" rating in a research note on Friday, April 4th. JPMorgan Chase & Co. lifted their price target on shares of Costco Wholesale from $1,065.00 to $1,070.00 and gave the stock an "overweight" rating in a research note on Friday, March 7th. Evercore ISI increased their price objective on shares of 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. Finally, Cowen reiterated a "buy" rating on shares of Costco Wholesale in a research note on Friday, March 7th. Nine equities research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $1,035.32.
View Our Latest Stock Analysis on COST
Costco Wholesale Stock Performance
Shares of NASDAQ COST traded up $1.09 during mid-day trading on Tuesday, hitting $1,007.27. 2,251,265 shares of the company were exchanged, compared to its average volume of 2,057,474. 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 firm has a market cap of $446.70 billion, a price-to-earnings ratio of 59.15, a price-to-earnings-growth ratio of 6.15 and a beta of 1.00. The stock has a 50 day simple moving average of $994.50 and a 200-day simple moving average of $980.11. Costco Wholesale Co. has a 1-year low of $793.00 and a 1-year high of $1,078.24.
Costco Wholesale (NASDAQ:COST - Get Free Report) last issued its earnings results on Thursday, May 29th. The retailer reported $4.28 earnings per share for the quarter, beating the consensus estimate of $4.24 by $0.04. The business had revenue of $63.21 billion for the quarter, compared to the consensus estimate of $62.93 billion. Costco Wholesale had a net margin of 2.93% and a return on equity of 32.31%. The business's quarterly revenue was up 8.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.78 earnings per share. On average, sell-side analysts forecast that Costco Wholesale Co. will post 18.03 EPS for the current fiscal year.
Costco Wholesale Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, May 16th. Stockholders of record on Friday, May 2nd were issued a $1.30 dividend. This is a boost from Costco Wholesale's previous quarterly dividend of $1.16. This represents a $5.20 annualized dividend and a dividend yield of 0.52%. The ex-dividend date was Friday, May 2nd. Costco Wholesale's dividend payout ratio (DPR) is currently 29.50%.
About Costco Wholesale
(
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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