Costco Wholesale Corporation (NASDAQ:COST) Shares Acquired by Main Street Research LLC

Main Street Research LLC raised its stake in shares of Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 1.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 61,955 shares of the retailer's stock after purchasing an additional 663 shares during the period. Costco Wholesale accounts for 3.8% of Main Street Research LLC's holdings, making the stock its 8th biggest position. Main Street Research LLC's holdings in Costco Wholesale were worth $58,596,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in COST. Topsail Wealth Management LLC lifted its stake in shares of Costco Wholesale by 28.2% in the first quarter. Topsail Wealth Management LLC now owns 350 shares of the retailer's stock worth $331,000 after buying an additional 77 shares in the last quarter. Banque Pictet & Cie SA raised its holdings in Costco Wholesale by 12.2% in the 1st quarter. Banque Pictet & Cie SA now owns 8,305 shares of the retailer's stock valued at $7,855,000 after acquiring an additional 904 shares during the last quarter. Court Place Advisors LLC lifted its stake in Costco Wholesale by 1.5% in the 1st quarter. Court Place Advisors LLC now owns 1,240 shares of the retailer's stock worth $1,173,000 after purchasing an additional 18 shares in the last quarter. Rehmann Capital Advisory Group lifted its stake in Costco Wholesale by 2.5% in the 1st quarter. Rehmann Capital Advisory Group now owns 7,742 shares of the retailer's stock worth $7,323,000 after purchasing an additional 189 shares in the last quarter. Finally, Cornerstone Planning Group LLC boosted its holdings in shares of Costco Wholesale by 126.6% during the 1st quarter. Cornerstone Planning Group LLC now owns 247 shares of the retailer's stock worth $241,000 after purchasing an additional 138 shares during the last quarter. 68.48% of the stock is owned by hedge funds and other institutional investors.

Costco Wholesale Stock Down 0.4%

Shares of NASDAQ:COST traded down $3.75 on Wednesday, hitting $982.09. 2,911,606 shares of the company's stock were exchanged, compared to its average volume of 2,079,819. The firm's 50-day moving average is $1,005.36 and its 200 day moving average is $981.68. The company has a market capitalization of $435.54 billion, a PE ratio of 55.71, a P/E/G ratio of 6.13 and a beta of 0.97. Costco Wholesale Corporation has a 1-year low of $793.00 and a 1-year high of $1,078.24. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.52 and a current ratio of 1.02.

Costco Wholesale (NASDAQ:COST - Get Free Report) last posted 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 during the quarter, compared to the consensus estimate of $62.93 billion. Costco Wholesale had a return on equity of 30.48% and a net margin of 2.92%. The business's quarterly revenue was up 8.0% on a year-over-year basis. During the same period in the previous year, the business earned $3.78 EPS. Sell-side analysts predict that Costco Wholesale Corporation will post 18.03 EPS 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. This represents a $5.20 annualized dividend and a yield of 0.53%. The ex-dividend date was Friday, May 2nd. This is a boost from Costco Wholesale's previous quarterly dividend of $1.16. Costco Wholesale's payout ratio is 29.50%.

Insider Buying and Selling

In related news, Director Susan L. Decker sold 547 shares of the stock in a transaction on Wednesday, June 18th. The stock was sold at an average price of $980.00, for a total transaction of $536,060.00. Following the completion of the sale, the director directly owned 11,531 shares of the company's stock, valued at $11,300,380. This trade represents a 4.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Patrick J. Callans sold 3,000 shares of the company's stock in a transaction on Monday, June 9th. The stock was sold at an average price of $1,002.77, for a total transaction of $3,008,310.00. Following the transaction, the executive vice president owned 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. In the last ninety days, insiders sold 9,547 shares of company stock worth $9,496,950. 0.18% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Morgan Stanley lifted their price target on Costco Wholesale from $1,150.00 to $1,225.00 and gave the stock an "overweight" rating in a report on Friday, May 30th. Wall Street Zen raised shares of Costco Wholesale from a "hold" rating to a "buy" rating in a research note on Friday, June 6th. Cfra Research raised shares of Costco Wholesale from a "hold" rating to a "moderate buy" rating in a research note on Friday, April 4th. Mizuho began coverage on shares of Costco Wholesale in a report on Friday, April 11th. They set a "neutral" rating and a $975.00 price target for the company. Finally, Telsey Advisory Group reiterated an "outperform" rating and issued a $1,100.00 price objective on shares of Costco Wholesale in a report on Thursday, July 3rd. 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 MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $1,034.79.

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.