Costco Wholesale Corporation (NASDAQ:COST) Shares Purchased by Morse Asset Management Inc

Morse Asset Management Inc raised its position in shares of Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 7.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,672 shares of the retailer's stock after buying an additional 439 shares during the quarter. Costco Wholesale comprises 1.6% of Morse Asset Management Inc's portfolio, making the stock its 20th biggest holding. Morse Asset Management Inc's holdings in Costco Wholesale were worth $6,310,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of COST. Peninsula Wealth LLC lifted its holdings in shares of Costco Wholesale by 1.2% in the fourth quarter. Peninsula Wealth LLC now owns 818 shares of the retailer's stock valued at $749,000 after buying an additional 10 shares during the period. Bosun Asset Management LLC boosted its stake in shares of Costco Wholesale by 1.6% during the 4th quarter. Bosun Asset Management LLC now owns 636 shares of the retailer's stock worth $583,000 after acquiring an additional 10 shares in the last quarter. NFP Retirement Inc. boosted its stake in Costco Wholesale by 1.1% during the 4th quarter. NFP Retirement Inc. now owns 980 shares of the retailer's stock valued at $898,000 after purchasing an additional 11 shares during the period. Coppell Advisory Solutions LLC boosted its stake in Costco Wholesale by 0.3% during the 4th quarter. Coppell Advisory Solutions LLC now owns 3,437 shares of the retailer's stock valued at $3,163,000 after purchasing an additional 11 shares during the period. Finally, Rooted Wealth Advisors Inc. lifted its position in shares of Costco Wholesale by 2.6% in the 1st quarter. Rooted Wealth Advisors Inc. now owns 441 shares of the retailer's stock worth $404,000 after acquiring an additional 11 shares during the period. Hedge funds and other institutional investors own 68.48% of the company's stock.

Costco Wholesale Stock Up 0.3%

NASDAQ COST traded up $3.12 during trading hours on Wednesday, reaching $944.73. 807,764 shares of the company's stock were exchanged, compared to its average volume of 2,060,929. Costco Wholesale Corporation has a one year low of $793.00 and a one 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. The company's 50-day moving average is $998.91 and its two-hundred day moving average is $983.64. The company has a market capitalization of $418.97 billion, a price-to-earnings ratio of 53.57, a price-to-earnings-growth ratio of 5.89 and a beta of 0.97.

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

Costco Wholesale Announces Dividend

The company also recently disclosed 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. This represents a $5.20 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date is Friday, August 1st. Costco Wholesale's dividend payout ratio (DPR) is presently 29.50%.

Insider Buying and Selling

In other news, Director Susan L. Decker sold 547 shares of the firm's stock in a transaction that occurred 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 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Pierre Riel sold 2,000 shares of Costco Wholesale stock in a transaction dated 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 directly owned 8,210 shares of the company's stock, valued at approximately $8,326,171.50. This represents a 19.59% decrease in their position. The disclosure for this sale can be found here. Insiders sold 9,547 shares of company stock worth $9,472,510 over the last ninety days. 0.18% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on COST. Wall Street Zen raised Costco Wholesale from a "hold" rating to a "buy" rating in a research report on Friday, June 6th. Stifel Nicolaus set a $1,035.00 price objective on Costco Wholesale in a report on Thursday, May 29th. Loop Capital reduced their price objective on 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. Mizuho began coverage on Costco Wholesale in a research note on Friday, April 11th. They issued a "neutral" rating and a $975.00 price target for the company. Finally, Cfra Research upgraded Costco Wholesale from a "hold" rating to a "moderate buy" rating in a research note on Friday, April 4th. Nine analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $1,037.48.

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.