Wade G W & Inc. lifted its stake in shares of Costco Wholesale Co. (NASDAQ:COST) by 45.0% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 11,083 shares of the retailer’s stock after acquiring an additional 3,442 shares during the period. Wade G W & Inc.’s holdings in Costco Wholesale were worth $3,907,000 at the end of the most recent reporting period.
Several other institutional investors also recently added to or reduced their stakes in the stock. Moser Wealth Advisors LLC lifted its position in shares of Costco Wholesale by 6.9% during the 1st quarter. Moser Wealth Advisors LLC now owns 3,896 shares of the retailer’s stock valued at $1,373,000 after acquiring an additional 250 shares during the period. Slow Capital Inc. raised its holdings in Costco Wholesale by 0.3% during the first quarter. Slow Capital Inc. now owns 17,767 shares of the retailer’s stock worth $6,263,000 after buying an additional 58 shares during the last quarter. Destination Wealth Management raised its holdings in Costco Wholesale by 2.4% during the first quarter. Destination Wealth Management now owns 113,978 shares of the retailer’s stock worth $40,175,000 after buying an additional 2,657 shares during the last quarter. GSB Wealth Management LLC acquired a new position in Costco Wholesale during the first quarter worth $52,863,000. Finally, Lakeview Capital Partners LLC raised its holdings in Costco Wholesale by 11.7% during the first quarter. Lakeview Capital Partners LLC now owns 3,921 shares of the retailer’s stock worth $1,382,000 after buying an additional 412 shares during the last quarter. Institutional investors own 67.21% of the company’s stock.
Several research analysts have weighed in on the stock. Wells Fargo & Company upped their price objective on shares of Costco Wholesale from $370.00 to $400.00 and gave the stock an “overweight” rating in a report on Wednesday, April 14th. Telsey Advisory Group upped their price objective on shares of Costco Wholesale from $390.00 to $395.00 and gave the stock an “outperform” rating in a report on Monday, May 10th. Citigroup lowered their price objective on shares of Costco Wholesale from $380.00 to $360.00 and set a “neutral” rating on the stock in a report on Thursday, March 11th. Oppenheimer upped their target price on shares of Costco Wholesale from $370.00 to $400.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 14th. Finally, Stifel Nicolaus upped their target price on shares of Costco Wholesale from $370.00 to $385.00 and gave the stock a “buy” rating in a research note on Wednesday, April 14th. Seven analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. Costco Wholesale presently has a consensus rating of “Buy” and a consensus target price of $389.92.
Costco Wholesale (NASDAQ:COST) last issued its earnings results on Wednesday, March 3rd. The retailer reported $2.14 earnings per share for the quarter, missing analysts’ consensus estimates of $2.45 by ($0.31). The business had revenue of $44.77 billion for the quarter, compared to the consensus estimate of $43.71 billion. Costco Wholesale had a return on equity of 24.50% and a net margin of 2.50%. Costco Wholesale’s revenue for the quarter was up 14.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.10 EPS. As a group, sell-side analysts predict that Costco Wholesale Co. will post 9.95 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, May 14th. Stockholders of record on Friday, April 30th were issued a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a dividend yield of 0.82%. This is an increase from Costco Wholesale’s previous quarterly dividend of $0.70. The ex-dividend date was Thursday, April 29th. Costco Wholesale’s dividend payout ratio is presently 35.71%.
In other news, CFO Richard A. Galanti sold 2,230 shares of the stock in a transaction dated Thursday, April 29th. The shares were sold at an average price of $372.06, for a total value of $829,693.80. Following the sale, the chief financial officer now directly owns 22,871 shares of the company’s stock, valued at $8,509,384.26. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Roland Michael Vachris sold 4,300 shares of the stock in a transaction dated Monday, March 22nd. The stock was sold at an average price of $334.30, for a total transaction of $1,437,490.00. Following the completion of the sale, the vice president now directly owns 15,602 shares in the company, valued at $5,215,748.60. The disclosure for this sale can be found here. Corporate insiders own 0.22% of the company’s stock.
Costco Wholesale Profile
Costco Wholesale Corporation, together with its subsidiaries, engages in the operation of membership warehouses in the United States, Puerto Rico, Canada, the United Kingdom, Mexico, Japan, Korea, Australia, Spain, France, Iceland, China, and Taiwan. It offers branded and private-label products in a range of merchandise categories.
Recommended Story: How to identify percentage decliners
Want to see what other hedge funds are holding COST? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Costco Wholesale Co. (NASDAQ:COST).
Receive News & Ratings for Costco Wholesale Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Costco Wholesale and related companies with MarketBeat.com's FREE daily email newsletter.