Mullooly Asset Management Inc. Acquires Shares of 296 Costco Wholesale Corporation (NASDAQ:COST)

Key Points

• Mullooly Asset Management Inc. has acquired 296 shares of Costco Wholesale Corporation, valued at approximately $280,000, during the first quarter of the year.
• Costco's stock has a consensus rating of "Moderate Buy" with a target price of $1,037.48, according to MarketBeat, as several analysts have upgraded the company's rating.
• The company announced a quarterly dividend of $1.30 per share to be paid on August 15th, representing an annualized dividend of $5.20 and a dividend yield of 0.5%.

Mullooly Asset Management Inc. bought a new position in shares of Costco Wholesale Corporation (NASDAQ:COST - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 296 shares of the retailer's stock, valued at approximately $280,000.

Several other hedge funds also recently made changes to their positions in COST. Investment Management Corp VA ADV bought a new stake in shares of Costco Wholesale during the 4th quarter worth approximately $25,000. Aspect Partners LLC increased its stake in 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 acquiring an additional 11 shares during the last quarter. Capital A Wealth Management LLC acquired a new position in Costco Wholesale during the fourth quarter valued at approximately $58,000. Mascagni Wealth Management Inc. bought a new stake in Costco Wholesale during the fourth quarter worth $59,000. Finally, Bank & Trust Co lifted 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 purchasing an additional 11 shares during the last quarter. 68.48% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Cfra Research upgraded Costco Wholesale from a "hold" rating to a "moderate buy" rating in a research note on Friday, April 4th. Mizuho initiated coverage on Costco Wholesale in a research report on Friday, April 11th. They issued a "neutral" rating and a $975.00 target price on the stock. Telsey Advisory Group reissued an "outperform" rating and set a $1,100.00 target price on shares of Costco Wholesale in a research note on Thursday, July 10th. Stifel Nicolaus set a $1,035.00 target price on shares of Costco Wholesale in a report on Thursday, May 29th. Finally, Evercore ISI lowered their price objective on shares of Costco Wholesale from $1,075.00 to $1,060.00 and set an "outperform" rating for the company in a research report on Tuesday, June 17th. Nine research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $1,037.48.

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 transaction of $2,028,300.00. Following the transaction, 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 transaction 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 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 transaction, the director owned 11,531 shares in the company, valued at approximately $11,300,380. The trade was a 4.53% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 9,547 shares of company stock worth $9,472,510 over the last three months. 0.18% of the stock is currently owned by company insiders.

Costco Wholesale Stock Up 1.4%

Shares of Costco Wholesale stock opened at $952.52 on Friday. The firm has a market cap of $422.42 billion, a price-to-earnings ratio of 54.03, a PEG ratio of 5.84 and a beta of 0.97. The stock's 50-day moving average is $983.34 and its 200 day moving average is $983.82. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.02 and a quick ratio of 0.52. Costco Wholesale Corporation has a one year low of $793.00 and a one year high of $1,078.23.

Costco Wholesale (NASDAQ:COST - Get Free Report) last announced its quarterly earnings data on Thursday, May 29th. The retailer reported $4.28 EPS for the quarter, topping the consensus estimate of $4.24 by $0.04. Costco Wholesale had a net margin of 2.92% and a return on equity of 30.48%. The company had revenue of $63.21 billion during the quarter, compared to the consensus estimate of $62.93 billion. During the same quarter last year, the firm posted $3.78 EPS. The company's quarterly revenue was up 8.0% on a year-over-year basis. Equities research analysts anticipate that Costco Wholesale Corporation will post 18.03 EPS for the current year.

Costco Wholesale Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Friday, August 1st will be issued 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 0.5%. Costco Wholesale's dividend payout ratio is currently 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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