Precision Wealth Strategies LLC Boosts Holdings in Costco Wholesale Corporation (NASDAQ:COST)

Precision Wealth Strategies LLC increased its position in Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 14.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,199 shares of the retailer's stock after buying an additional 398 shares during the period. Costco Wholesale accounts for about 2.3% of Precision Wealth Strategies LLC's investment portfolio, making the stock its 14th biggest position. Precision Wealth Strategies LLC's holdings in Costco Wholesale were worth $3,026,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in COST. Capital & Planning LLC raised its position in Costco Wholesale by 28.7% during the fourth quarter. Capital & Planning LLC now owns 3,756 shares of the retailer's stock valued at $3,441,000 after purchasing an additional 837 shares during the period. Redmond Asset Management LLC purchased a new stake in shares of Costco Wholesale in the fourth quarter worth approximately $1,214,000. May Barnhard Investments LLC purchased a new stake in shares of Costco Wholesale in the fourth quarter worth approximately $485,000. Ironwood Wealth Management LLC. raised its holdings in shares of Costco Wholesale by 0.6% in the fourth quarter. Ironwood Wealth Management LLC. now owns 3,852 shares of the retailer's stock worth $3,529,000 after buying an additional 22 shares during the period. Finally, Brighton Jones LLC raised its holdings in shares of Costco Wholesale by 12.3% in the fourth quarter. Brighton Jones LLC now owns 19,825 shares of the retailer's stock worth $18,165,000 after buying an additional 2,172 shares during the period. 68.48% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP Claudine Adamo sold 900 shares of the stock in a transaction on Monday, March 24th. The shares were sold at an average price of $922.56, for a total transaction of $830,304.00. Following the sale, the executive vice president now directly owns 6,987 shares of the company's stock, valued at approximately $6,445,926.72. This represents a 11.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Patrick J. Callans sold 3,000 shares of the stock in a transaction on Monday, June 9th. The stock was sold at an average price of $1,002.77, for a total transaction 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 trade represents a 4.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 11,000 shares of company stock valued at $10,825,205. Corporate insiders own 0.18% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on COST. Robert W. Baird increased their price target on Costco Wholesale from $1,075.00 to $1,125.00 and gave the stock an "outperform" rating in a report on Friday, March 7th. JPMorgan Chase & Co. increased their price target on Costco Wholesale from $1,065.00 to $1,070.00 and gave the stock an "overweight" rating in a report on Friday, March 7th. Wall Street Zen upgraded Costco Wholesale from a "hold" rating to a "buy" rating in a report on Friday, June 6th. Barclays increased their price target on Costco Wholesale from $940.00 to $980.00 and gave the stock an "equal weight" rating in a report on Monday, March 10th. Finally, Evercore ISI dropped their price objective on Costco Wholesale from $1,075.00 to $1,060.00 and set an "outperform" rating on the stock in a research note on Tuesday. Nine research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $1,034.79.

Costco Wholesale Stock Performance

COST stock traded down $2.82 during midday trading on Wednesday, reaching $974.90. The stock had a trading volume of 1,506,193 shares, compared to its average volume of 2,065,456. The stock has a market cap of $432.35 billion, a PE ratio of 55.30, a P/E/G ratio of 5.77 and a beta of 1.00. 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 firm has a fifty day simple moving average of $1,002.19 and a two-hundred day simple moving average of $981.16. Costco Wholesale Corporation has a 52-week low of $793.00 and a 52-week high of $1,078.24.

Costco Wholesale (NASDAQ:COST - Get Free Report) last posted its earnings results 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 return on equity of 30.48% and a net margin of 2.92%. The firm had revenue of $63.21 billion for the quarter, compared to analyst estimates of $62.93 billion. During the same period last year, the company earned $3.78 earnings per share. Costco Wholesale's revenue for the quarter was up 8.0% compared to the same quarter last year. As a group, equities research analysts anticipate that Costco Wholesale Corporation will post 18.03 EPS for the current year.

Costco Wholesale Increases Dividend

The company also recently declared 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 an increase 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%.

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.