Costco Wholesale Corporation (NASDAQ:COST) Stake Trimmed by Jackson Wealth Management LLC

Jackson Wealth Management LLC reduced its position in Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 1.6% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 20,359 shares of the retailer's stock after selling 326 shares during the period. Costco Wholesale comprises approximately 2.3% of Jackson Wealth Management LLC's holdings, making the stock its 8th largest position. Jackson Wealth Management LLC's holdings in Costco Wholesale were worth $19,255,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in COST. May Barnhard Investments LLC purchased a new position in Costco Wholesale in the 4th quarter worth approximately $485,000. Brighton Jones LLC grew its position in 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 purchasing an additional 2,172 shares during the period. Revolve Wealth Partners LLC grew its position in Costco Wholesale by 13.1% in the 4th quarter. Revolve Wealth Partners LLC now owns 1,123 shares of the retailer's stock worth $1,029,000 after purchasing an additional 130 shares during the period. Bank Pictet & Cie Europe AG grew its position in Costco Wholesale by 45.0% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 117,254 shares of the retailer's stock worth $107,436,000 after purchasing an additional 36,384 shares during the period. Finally, Highview Capital Management LLC DE grew its position in Costco Wholesale by 0.8% in the 4th quarter. Highview Capital Management LLC DE now owns 4,813 shares of the retailer's stock worth $4,410,000 after purchasing an additional 40 shares during the period. 68.48% of the stock is currently owned by hedge funds and other institutional investors.

Costco Wholesale Price Performance

COST stock traded up $5.16 during mid-day trading on Monday, hitting $992.18. The company had a trading volume of 1,831,328 shares, compared to its average volume of 2,073,144. The company has a market capitalization of $440.01 billion, a price-to-earnings ratio of 56.28, a P/E/G ratio of 6.14 and a beta of 0.97. Costco Wholesale Corporation has a 12-month low of $793.00 and a 12-month high of $1,078.24. The company has a quick ratio of 0.52, a current ratio of 1.02 and a debt-to-equity ratio of 0.21. The company has a 50-day moving average price of $1,005.20 and a 200 day moving average price of $981.38.

Costco Wholesale (NASDAQ:COST - Get Free Report) last announced its quarterly earnings results on Thursday, May 29th. The retailer reported $4.28 EPS for the quarter, topping the consensus estimate of $4.24 by $0.04. The business had revenue of $63.21 billion for the quarter, compared to analysts' expectations of $62.93 billion. Costco Wholesale had a net margin of 2.92% and a return on equity of 30.48%. 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 company earned $3.78 EPS. On average, research analysts anticipate that Costco Wholesale Corporation 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. Shareholders of record on Friday, May 2nd were paid a $1.30 dividend. The ex-dividend date of this dividend was Friday, May 2nd. This represents a $5.20 annualized dividend and a yield of 0.52%. This is a boost from Costco Wholesale's previous quarterly dividend of $1.16. Costco Wholesale's payout ratio is presently 29.50%.

Wall Street Analyst Weigh In

A number of research firms have commented on COST. Stifel Nicolaus set a $1,035.00 target price on shares of Costco Wholesale in a research report on Thursday, May 29th. Truist Financial lifted their target price on shares of Costco Wholesale from $995.00 to $1,042.00 and gave the stock a "hold" rating in a research report on Friday, May 30th. Cfra Research raised shares of Costco Wholesale from a "hold" rating to a "moderate buy" rating in a research report on Friday, April 4th. Barclays lifted their target price on shares of Costco Wholesale from $940.00 to $980.00 and gave the stock an "equal weight" rating in a research report on Monday, March 10th. Finally, 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 objective for the company. Nine investment analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $1,034.79.

Insider Activity at Costco Wholesale

In other news, EVP Patrick J. Callans sold 3,000 shares of the company'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 sale, the executive vice president directly owned 58,543 shares in the company, valued at approximately $58,705,164.11. This represents a 4.87% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Susan L. Decker sold 547 shares of the company's stock in a transaction dated Wednesday, June 18th. The shares were sold at an average price of $980.00, for a total transaction of $536,060.00. Following the sale, the director owned 11,531 shares in the company, valued at $11,300,380. This represents a 4.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 9,547 shares of company stock worth $9,496,950 in the last quarter. 0.18% of the stock is owned by company insiders.

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.