Peak Asset Management LLC Sells 366 Shares of Costco Wholesale Corporation (NASDAQ:COST)

Key Points

• Peak Asset Management LLC reduced its stake in Costco Wholesale by 8.6%, holding a total of 3,904 shares worth approximately $3.69 million after selling 366 shares during the first quarter.
• Several hedge funds increased their positions in Costco, with GAMMA Investing LLC seeing a dramatic increase of 106,402.1%, now owning over 8 million shares valued at nearly $7.72 billion.
• The company declared a quarterly dividend of $1.30 per share, payable on August 15th, with a current annualized yield of 0.56% and a payout ratio of 29.50%.

Peak Asset Management LLC lessened its stake in Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 8.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,904 shares of the retailer's stock after selling 366 shares during the quarter. Peak Asset Management LLC's holdings in Costco Wholesale were worth $3,692,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Alteri Wealth LLC raised its holdings in shares of Costco Wholesale by 1.3% during the 1st quarter. Alteri Wealth LLC now owns 1,824 shares of the retailer's stock worth $1,725,000 after acquiring an additional 23 shares in the last quarter. one8zero8 LLC grew its position in Costco Wholesale by 7.0% in the 1st quarter. one8zero8 LLC now owns 4,561 shares of the retailer's stock valued at $4,314,000 after acquiring an additional 297 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Costco Wholesale by 7.8% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 198,392 shares of the retailer's stock worth $187,635,000 after buying an additional 14,293 shares in the last quarter. Providence Wealth Advisors LLC lifted its stake in shares of Costco Wholesale by 0.9% during the 1st quarter. Providence Wealth Advisors LLC now owns 1,296 shares of the retailer's stock worth $1,226,000 after purchasing an additional 12 shares during the last quarter. Finally, Accretive Wealth Partners LLC raised its stake in shares of Costco Wholesale by 39.1% in the first quarter. Accretive Wealth Partners LLC now owns 505 shares of the retailer's stock worth $510,000 after purchasing an additional 142 shares during the last quarter. 68.48% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Stifel Nicolaus set a $1,035.00 price target on Costco Wholesale in a research note on Thursday, May 29th. Wall Street Zen raised Costco Wholesale from a "hold" rating to a "buy" rating in a research note on Friday, June 6th. Loop Capital dropped their price objective on Costco Wholesale from $1,115.00 to $1,110.00 and set a "buy" rating for the company in a research note on Thursday, May 29th. Evercore ISI decreased their price objective on Costco Wholesale from $1,075.00 to $1,060.00 and set an "outperform" rating on the stock in a report on Tuesday, June 17th. Finally, Morgan Stanley raised their price objective on Costco Wholesale from $1,150.00 to $1,225.00 and gave the company an "overweight" rating in a research report on Friday, May 30th. Nine investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $1,037.48.

Costco Wholesale Price Performance

Shares of NASDAQ COST traded down $4.40 during trading hours on Wednesday, hitting $930.17. 756,784 shares of the stock were exchanged, compared to its average volume of 2,203,349. The company has a market cap of $412.51 billion, a PE ratio of 52.74, a price-to-earnings-growth ratio of 5.81 and a beta of 0.97. 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 fifty day simple moving average is $987.99 and its two-hundred day simple moving average is $983.87. Costco Wholesale Corporation has a 1-year low of $793.00 and a 1-year high of $1,078.23.

Costco Wholesale (NASDAQ:COST - Get Free Report) last issued its quarterly earnings data on Thursday, May 29th. The retailer reported $4.28 EPS 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 net margin of 2.92% and a return on equity of 30.48%. The firm's revenue was up 8.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.78 EPS. On average, sell-side analysts predict that Costco Wholesale Corporation will post 18.03 EPS for the current year.

Costco Wholesale Announces Dividend

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

Insider Activity

In other Costco Wholesale news, EVP Yoram Rubanenko sold 4,000 shares of the firm's stock in a transaction on Monday, July 14th. The shares were sold at an average price of $974.96, for a total value of $3,899,840.00. Following the completion of the sale, the executive vice president directly owned 5,774 shares in the company, valued at approximately $5,629,419.04. This trade represents a 40.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Susan L. Decker sold 547 shares of the firm's 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 owned 11,531 shares of the company's stock, valued at $11,300,380. The trade was a 4.53% 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 over the last ninety days. Corporate insiders own 0.18% of the company's stock.

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.