PKO Investment Management Joint Stock Co Raises Stock Position in Costco Wholesale Corporation (NASDAQ:COST)

PKO Investment Management Joint Stock Co raised its stake in shares of Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 187.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,500 shares of the retailer's stock after purchasing an additional 7,500 shares during the period. Costco Wholesale accounts for 1.2% of PKO Investment Management Joint Stock Co's holdings, making the stock its 19th biggest position. PKO Investment Management Joint Stock Co's holdings in Costco Wholesale were worth $10,876,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of COST. Capital & Planning LLC grew its holdings in shares of Costco Wholesale by 28.7% during the fourth quarter. Capital & Planning LLC now owns 3,756 shares of the retailer's stock worth $3,441,000 after buying an additional 837 shares in the last quarter. Redmond Asset Management LLC acquired a new position in Costco Wholesale during the fourth quarter worth about $1,214,000. May Barnhard Investments LLC acquired a new position in Costco Wholesale during the fourth quarter worth about $485,000. Ironwood Wealth Management LLC. grew its stake in Costco Wholesale by 0.6% during the 4th quarter. Ironwood Wealth Management LLC. now owns 3,852 shares of the retailer's stock valued at $3,529,000 after acquiring an additional 22 shares in the last quarter. Finally, Brighton Jones LLC raised its holdings in Costco Wholesale by 12.3% in the 4th quarter. Brighton Jones LLC now owns 19,825 shares of the retailer's stock valued at $18,165,000 after acquiring an additional 2,172 shares during the last quarter. Institutional investors and hedge funds own 68.48% of the company's stock.

Costco Wholesale Stock Down 0.7%

Shares of NASDAQ COST opened at $977.72 on Wednesday. The company has a quick ratio of 0.52, a current ratio of 1.02 and a debt-to-equity ratio of 0.21. The business's 50 day moving average is $1,002.19 and its two-hundred day moving average is $981.16. Costco Wholesale Corporation has a 52-week low of $793.00 and a 52-week high of $1,078.24. The firm has a market cap of $433.60 billion, a price-to-earnings ratio of 55.46, a PEG ratio of 5.81 and a beta of 1.00.

Costco Wholesale (NASDAQ:COST - Get Free Report) last issued its quarterly earnings data on Thursday, May 29th. The retailer reported $4.28 earnings per share for the quarter, beating 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 business had revenue of $63.21 billion during the quarter, compared to analysts' expectations of $62.93 billion. During the same period in the previous year, the firm posted $3.78 earnings per share. The company's revenue was up 8.0% on a year-over-year basis. Research analysts predict that Costco Wholesale Corporation will post 18.03 EPS for the current year.

Costco Wholesale Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 16th. Shareholders of record on Friday, May 2nd were paid 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 yield of 0.53%. Costco Wholesale's dividend payout ratio is 29.50%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on COST shares. Truist Financial boosted 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. Wall Street Zen raised Costco Wholesale from a "hold" rating to a "buy" rating in a report on Friday, June 6th. Robert W. Baird boosted their price objective on Costco Wholesale from $1,075.00 to $1,125.00 and gave the stock an "outperform" rating in a research note on Friday, March 7th. Stifel Nicolaus set a $1,035.00 target price on Costco Wholesale in a report on Thursday, May 29th. Finally, Evercore ISI reduced their price target on Costco Wholesale from $1,075.00 to $1,060.00 and set an "outperform" rating on the stock in a report on Tuesday. Nine research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the stock. According to data from MarketBeat, Costco Wholesale presently has an average rating of "Moderate Buy" and an average target price of $1,034.79.

Insiders Place Their Bets

In other Costco Wholesale news, EVP Claudine Adamo sold 900 shares of the business's stock in a transaction on Monday, March 24th. The shares were sold at an average price of $922.56, for a total value of $830,304.00. Following the completion of the transaction, the executive vice president now owns 6,987 shares in the company, valued at $6,445,926.72. The trade was a 11.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Patrick J. Callans sold 3,000 shares of the company's stock in a transaction on Monday, June 9th. The stock was sold at an average price of $1,002.77, for a total value of $3,008,310.00. Following the sale, the executive vice president now directly owns 58,543 shares in the company, valued at $58,705,164.11. This represents a 4.87% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 11,000 shares of company stock worth $10,825,205 over the last three months. Company insiders own 0.18% of the company's stock.

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.

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