Parisi Gray Wealth Management Has $6.20 Million Stock Holdings in Costco Wholesale Co. (NASDAQ:COST)

Parisi Gray Wealth Management increased its position in Costco Wholesale Co. (NASDAQ:COST - Free Report) by 10.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,554 shares of the retailer's stock after purchasing an additional 602 shares during the quarter. Costco Wholesale makes up 2.0% of Parisi Gray Wealth Management's portfolio, making the stock its 14th biggest position. Parisi Gray Wealth Management's holdings in Costco Wholesale were worth $6,199,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Stanich Group LLC acquired a new stake in Costco Wholesale in the fourth quarter worth about $214,000. Geode Capital Management LLC increased its position in Costco Wholesale by 2.7% in the fourth quarter. Geode Capital Management LLC now owns 9,739,175 shares of the retailer's stock worth $8,901,249,000 after purchasing an additional 252,118 shares during the period. RW Investment Management LLC increased its position in Costco Wholesale by 21.3% in the fourth quarter. RW Investment Management LLC now owns 5,624 shares of the retailer's stock worth $5,153,000 after purchasing an additional 989 shares during the period. AMJ Financial Wealth Management increased its position in Costco Wholesale by 2.6% in the fourth quarter. AMJ Financial Wealth Management now owns 10,536 shares of the retailer's stock worth $9,654,000 after purchasing an additional 270 shares during the period. Finally, Washburn Capital Management Inc. increased its position in Costco Wholesale by 8.5% in the fourth quarter. Washburn Capital Management Inc. now owns 3,140 shares of the retailer's stock worth $2,877,000 after purchasing an additional 245 shares during the period. 68.48% of the stock is currently owned by institutional investors and hedge funds.

Costco Wholesale Stock Down 1.2%

Shares of NASDAQ:COST traded down $12.50 during trading on Friday, hitting $990.21. 1,782,964 shares of the company were exchanged, compared to its average volume of 2,064,562. The stock has a market cap of $439.14 billion, a price-to-earnings ratio of 58.15, a P/E/G ratio of 6.15 and a beta of 1.00. Costco Wholesale Co. has a fifty-two week low of $793.00 and a fifty-two week high of $1,078.24. The firm has a fifty day moving average price of $998.80 and a two-hundred day moving average price of $980.70. The company has a current ratio of 0.98, a quick ratio of 0.43 and a debt-to-equity ratio of 0.23.

Costco Wholesale (NASDAQ:COST - Get Free Report) last posted its quarterly earnings results on Thursday, May 29th. The retailer reported $4.28 earnings per share for the quarter, topping the consensus estimate of $4.24 by $0.04. The firm 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 32.31% and a net margin of 2.93%. The business's quarterly revenue was up 8.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.78 EPS. As a group, research analysts anticipate that Costco Wholesale Co. will post 18.03 earnings per share for the current fiscal year.

Costco Wholesale Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 16th. Investors of record on Friday, May 2nd were issued a dividend of $1.30 per share. The ex-dividend date was Friday, May 2nd. This is a positive change from Costco Wholesale's previous quarterly dividend of $1.16. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.53%. Costco Wholesale's payout ratio is presently 29.50%.

Wall Street Analysts Forecast Growth

COST has been the topic of a number of recent analyst reports. Morgan Stanley raised their target price 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. Truist Financial raised their target price on Costco Wholesale from $995.00 to $1,042.00 and gave the stock a "hold" rating in a report on Friday, May 30th. Mizuho initiated coverage on Costco Wholesale in a report on Friday, April 11th. They set a "neutral" rating and a $975.00 target price on the stock. Sanford C. Bernstein restated an "outperform" rating on shares of Costco Wholesale in a report on Friday, March 7th. Finally, Barclays raised their target price on Costco Wholesale from $940.00 to $980.00 and gave the stock an "equal weight" rating in a report on Monday, March 10th. Nine equities research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $1,035.32.

Insider Buying and Selling

In related news, EVP Pierre Riel sold 2,000 shares of the business'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 now directly owns 8,210 shares of the company's stock, valued at approximately $8,326,171.50. The trade was a 19.59% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP James C. Klauer sold 4,000 shares of the business's stock in a transaction that occurred on Thursday, April 17th. The stock was sold at an average price of $981.07, for a total value of $3,924,280.00. Following the transaction, the executive vice president now directly owns 43,994 shares in the company, valued at $43,161,193.58. The trade was a 8.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 11,000 shares of company stock valued at $10,825,205. 0.18% of the stock is owned by insiders.

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.