Marvin & Palmer Associates Inc. Has $3.19 Million Stock Holdings in Costco Wholesale Corporation (NASDAQ:COST)

Key Points

• Marvin & Palmer Associates Inc. decreased its holdings in Costco by 7.4%, now owning shares worth approximately $3.19 million, which represents 4.8% of their total portfolio.
• Costco recently announced a quarterly dividend of $1.30 per share, with an ex-dividend date set for August 1st, reflecting an annualized dividend yield of 0.56%.
• Wall Street analysts have mixed views on Costco, with nine holding a hold rating and twenty giving a buy rating, leading to an average price target of $1,037.48.

Marvin & Palmer Associates Inc. lessened its position in shares of Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 7.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,375 shares of the retailer's stock after selling 270 shares during the quarter. Costco Wholesale comprises 4.8% of Marvin & Palmer Associates Inc.'s holdings, making the stock its 6th biggest position. Marvin & Palmer Associates Inc.'s holdings in Costco Wholesale were worth $3,192,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Investment Management Corp VA ADV purchased a new stake in shares of Costco Wholesale in the 4th quarter valued at $25,000. Aspect Partners LLC raised its position in shares of Costco Wholesale by 24.4% in the first quarter. Aspect Partners LLC now owns 56 shares of the retailer's stock valued at $53,000 after buying an additional 11 shares during the last quarter. Capital A Wealth Management LLC purchased a new stake in shares of Costco Wholesale in the fourth quarter valued at about $58,000. Mascagni Wealth Management Inc. purchased a new stake in shares of Costco Wholesale in the fourth quarter valued at about $59,000. Finally, Bank & Trust Co boosted its stake in Costco Wholesale by 20.4% during the first quarter. Bank & Trust Co now owns 65 shares of the retailer's stock worth $61,000 after buying an additional 11 shares during the period. Hedge funds and other institutional investors own 68.48% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on COST. Evercore ISI reduced their price target on shares of Costco Wholesale from $1,075.00 to $1,060.00 and set an "outperform" rating on the stock in a research report on Tuesday, June 17th. Morgan Stanley raised their price objective on shares of Costco Wholesale from $1,150.00 to $1,225.00 and gave the stock an "overweight" rating in a report on Friday, May 30th. Telsey Advisory Group reaffirmed an "outperform" rating and issued a $1,100.00 target price on shares of Costco Wholesale in a report on Thursday, July 10th. Mizuho initiated coverage on shares of Costco Wholesale in a research note on Friday, April 11th. They issued a "neutral" rating and a $975.00 price objective on the stock. Finally, Stifel Nicolaus set a $1,035.00 price objective on shares of Costco Wholesale in a research note on Thursday, May 29th. Nine equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $1,037.48.

Insider Buying and Selling

In other Costco Wholesale news, Director Susan L. Decker sold 547 shares of the business's stock in a transaction on Wednesday, June 18th. The stock was sold at an average price of $980.00, for a total value of $536,060.00. Following the transaction, the director owned 11,531 shares of the company's stock, valued at approximately $11,300,380. The trade was a 4.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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 value of $3,008,310.00. Following the completion of the sale, the executive vice president owned 58,543 shares in the company, valued at approximately $58,705,164.11. The trade was a 4.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 9,547 shares of company stock worth $9,472,510 in the last ninety days. Corporate insiders own 0.18% of the company's stock.

Costco Wholesale Price Performance

Shares of COST stock opened at $935.48 on Monday. The business has a fifty day simple moving average of $992.04 and a 200 day simple moving average of $984.23. Costco Wholesale Corporation has a twelve month low of $793.00 and a twelve month high of $1,078.23. The company has a market cap of $414.87 billion, a P/E ratio of 53.06, a P/E/G ratio of 5.82 and a beta of 0.97. The company has a quick ratio of 0.52, a current ratio of 1.02 and a debt-to-equity ratio of 0.21.

Costco Wholesale (NASDAQ:COST - Get Free Report) last posted its quarterly earnings data on Thursday, May 29th. The retailer reported $4.28 EPS for the quarter, topping analysts' consensus estimates of $4.24 by $0.04. The company had revenue of $63.21 billion for the quarter, compared to analyst estimates of $62.93 billion. Costco Wholesale had a return on equity of 30.48% and a net margin of 2.92%. The firm's quarterly revenue was up 8.0% on a year-over-year basis. During the same period in the previous year, the firm earned $3.78 earnings per share. On average, sell-side analysts forecast that Costco Wholesale Corporation will post 18.03 EPS for the current fiscal year.

Costco Wholesale Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Friday, August 1st will be given a dividend of $1.30 per share. The ex-dividend date is Friday, August 1st. This represents a $5.20 annualized dividend and a dividend yield of 0.56%. Costco Wholesale's payout ratio is 29.50%.

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.

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