Salem Investment Counselors Inc. Grows Position in Costco Wholesale Co. (NASDAQ:COST)

Salem Investment Counselors Inc. raised its holdings in shares of Costco Wholesale Co. (NASDAQ:COST - Free Report) by 1.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 22,791 shares of the retailer's stock after acquiring an additional 259 shares during the quarter. Costco Wholesale makes up about 0.8% of Salem Investment Counselors Inc.'s investment portfolio, making the stock its 28th biggest position. Salem Investment Counselors Inc.'s holdings in Costco Wholesale were worth $21,555,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Cromwell Holdings LLC lifted its stake in shares of Costco Wholesale by 0.9% in the 4th quarter. Cromwell Holdings LLC now owns 1,144 shares of the retailer's stock worth $1,048,000 after purchasing an additional 10 shares during the period. 44 Wealth Management LLC lifted its stake in shares of Costco Wholesale by 0.3% in the 4th quarter. 44 Wealth Management LLC now owns 3,488 shares of the retailer's stock worth $3,196,000 after purchasing an additional 10 shares during the period. SRN Advisors LLC raised its stake in Costco Wholesale by 0.3% during the 4th quarter. SRN Advisors LLC now owns 3,081 shares of the retailer's stock worth $2,823,000 after acquiring an additional 10 shares during the period. Miramar Capital LLC raised its stake in Costco Wholesale by 1.9% during the 4th quarter. Miramar Capital LLC now owns 525 shares of the retailer's stock worth $481,000 after acquiring an additional 10 shares during the period. Finally, Clear Investment Research LLC raised its stake in Costco Wholesale by 22.2% during the 4th quarter. Clear Investment Research LLC now owns 55 shares of the retailer's stock worth $51,000 after acquiring an additional 10 shares during the period. 68.48% of the stock is owned by institutional investors.

Insider Activity

In related news, EVP Gary Millerchip sold 1,100 shares of the stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $940.01, for a total value of $1,034,011.00. Following the transaction, the executive vice president now owns 11,165 shares in the company, valued at approximately $10,495,211.65. This represents a 8.97% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Claudine Adamo sold 900 shares of the stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $922.56, for a total transaction of $830,304.00. Following the completion of the transaction, the executive vice president now owns 6,987 shares in the company, valued at approximately $6,445,926.72. This trade represents a 11.41% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 11,000 shares of company stock worth $10,825,205 over the last 90 days. 0.18% of the stock is currently owned by corporate insiders.

Costco Wholesale Stock Down 1.2%

NASDAQ:COST traded down $12.50 during mid-day trading on Friday, reaching $990.21. The company's stock had a trading volume of 1,782,964 shares, compared to its average volume of 2,067,253. Costco Wholesale Co. has a 1 year low of $793.00 and a 1 year high of $1,078.24. The stock has a fifty day moving average of $1,000.43 and a 200-day moving average of $980.96. The firm has a market capitalization of $439.14 billion, a PE ratio of 58.15, a price-to-earnings-growth ratio of 6.15 and a beta of 1.00. The company has a quick ratio of 0.43, a current ratio of 0.98 and a debt-to-equity ratio of 0.23.

Costco Wholesale (NASDAQ:COST - Get Free Report) last announced its earnings results on Thursday, May 29th. The retailer reported $4.28 EPS for the quarter, topping analysts' consensus estimates 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 2.93% and a return on equity of 32.31%. The firm's revenue was up 8.0% on a year-over-year basis. During the same period in the previous year, the company posted $3.78 earnings per share. Equities research analysts forecast that Costco Wholesale Co. will post 18.03 earnings per share for the current year.

Costco Wholesale Increases Dividend

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

Analysts Set New Price Targets

A number of equities research analysts have commented on COST shares. Cowen restated a "buy" rating on shares of Costco Wholesale in a research note on Friday, March 7th. Robert W. Baird raised their target price on shares of 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. JPMorgan Chase & Co. raised their target price on shares of Costco Wholesale from $1,065.00 to $1,070.00 and gave the stock an "overweight" rating in a research note on Friday, March 7th. Loop Capital decreased their target price on shares of Costco Wholesale from $1,115.00 to $1,110.00 and set a "buy" rating on the stock in a research note on Thursday, May 29th. Finally, Mizuho began coverage on shares of Costco Wholesale in a research note on Friday, April 11th. They set a "neutral" rating and a $975.00 target price on the stock. Nine investment analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $1,035.32.

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.