Park Edge Advisors LLC Raises Holdings in Costco Wholesale Co. (NASDAQ:COST)

Park Edge Advisors LLC increased its position in Costco Wholesale Co. (NASDAQ:COST) by 6.5% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 2,169 shares of the retailer’s stock after purchasing an additional 132 shares during the period. Costco Wholesale accounts for about 0.6% of Park Edge Advisors LLC’s holdings, making the stock its 28th biggest holding. Park Edge Advisors LLC’s holdings in Costco Wholesale were worth $2,051,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Cromwell Holdings LLC boosted its stake in Costco Wholesale by 0.9% in the fourth quarter. Cromwell Holdings LLC now owns 1,144 shares of the retailer’s stock valued at $1,048,000 after acquiring an additional 10 shares during the period. 44 Wealth Management LLC raised its position in shares of Costco Wholesale by 0.3% during 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 lifted its holdings in shares of Costco Wholesale by 0.3% in the 4th quarter. SRN Advisors LLC now owns 3,081 shares of the retailer’s stock worth $2,823,000 after purchasing an additional 10 shares during the last quarter. Miramar Capital LLC boosted its position in Costco Wholesale by 1.9% during the 4th quarter. Miramar Capital LLC now owns 525 shares of the retailer’s stock valued at $481,000 after purchasing an additional 10 shares during the period. Finally, Clear Investment Research LLC boosted its position in Costco Wholesale by 22.2% during the 4th quarter. Clear Investment Research LLC now owns 55 shares of the retailer’s stock valued at $51,000 after purchasing an additional 10 shares during the period. 68.48% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CEO Roland Michael Vachris sold 3,600 shares of Costco Wholesale stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $931.00, for a total transaction of $3,351,600.00. Following the completion of the sale, the chief executive officer now owns 41,077 shares of the company’s stock, valued at approximately $38,242,687. This trade represents a 8.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP James C. Klauer sold 4,000 shares of Costco Wholesale stock in a transaction dated Thursday, April 17th. The shares were sold at an average price of $981.07, for a total value of $3,924,280.00. Following the sale, the executive vice president now owns 43,994 shares of the company’s stock, valued at approximately $43,161,193.58. This represents a 8.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 9,600 shares of company stock worth $9,140,195. 0.18% of the stock is owned by insiders.

Costco Wholesale Price Performance

NASDAQ:COST opened at $1,055.59 on Wednesday. The company has a quick ratio of 0.43, a current ratio of 0.98 and a debt-to-equity ratio of 0.23. The business’s 50-day moving average price is $988.73 and its 200 day moving average price is $977.58. Costco Wholesale Co. has a 52-week low of $793.00 and a 52-week high of $1,078.24. The firm has a market cap of $468.35 billion, a P/E ratio of 61.98, a PEG ratio of 6.15 and a beta of 1.00.

Costco Wholesale (NASDAQ:COST) last announced its quarterly earnings data on Thursday, May 29th. The retailer reported $4.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.24 by $0.04. Costco Wholesale had a net margin of 2.93% and a return on equity of 32.31%. The company had revenue of $63.21 billion for the quarter, compared to analysts’ expectations of $62.93 billion. During the same quarter in the previous year, the company posted $3.78 EPS. The business’s revenue was up 8.0% compared to the same quarter last year. As a group, sell-side analysts predict 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. This represents a $5.20 dividend on an annualized basis and a yield of 0.49%. This is a boost from Costco Wholesale’s previous quarterly dividend of $1.16. The ex-dividend date of this dividend was Friday, May 2nd. Costco Wholesale’s dividend payout ratio (DPR) is presently 30.36%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on COST. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Costco Wholesale in a research report on Friday, March 7th. Truist Financial upped their price target on shares of Costco Wholesale from $995.00 to $1,042.00 and gave the stock a “hold” rating in a research report on Friday, May 30th. Barclays increased their price objective on shares of Costco Wholesale from $940.00 to $980.00 and gave the stock an “equal weight” rating in a report on Monday, March 10th. Cowen reissued a “buy” rating on shares of Costco Wholesale in a research note on Friday, March 7th. Finally, Loop Capital dropped their price target 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. Eleven equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average 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.