Costco Wholesale Co. (NASDAQ:COST) Position Decreased by Argus Investors Counsel Inc.

Argus Investors Counsel Inc. lessened its holdings in shares of Costco Wholesale Co. (NASDAQ:COSTFree Report) by 4.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,357 shares of the retailer’s stock after selling 347 shares during the quarter. Costco Wholesale makes up 3.3% of Argus Investors Counsel Inc.’s portfolio, making the stock its 3rd largest holding. Argus Investors Counsel Inc.’s holdings in Costco Wholesale were worth $5,390,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. B. Riley Wealth Advisors Inc. raised its position in shares of Costco Wholesale by 1.0% during the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 28,855 shares of the retailer’s stock valued at $16,302,000 after purchasing an additional 273 shares during the period. Main Street Financial Solutions LLC increased its holdings in Costco Wholesale by 4.7% in the 4th quarter. Main Street Financial Solutions LLC now owns 1,763 shares of the retailer’s stock valued at $1,164,000 after acquiring an additional 79 shares during the last quarter. Cerity Partners LLC increased its holdings in Costco Wholesale by 28.9% in the 4th quarter. Cerity Partners LLC now owns 272,288 shares of the retailer’s stock valued at $179,822,000 after acquiring an additional 61,122 shares during the last quarter. Metis Global Partners LLC increased its holdings in Costco Wholesale by 15.6% in the 4th quarter. Metis Global Partners LLC now owns 21,514 shares of the retailer’s stock valued at $14,201,000 after acquiring an additional 2,909 shares during the last quarter. Finally, Zhang Financial LLC increased its holdings in Costco Wholesale by 3.8% in the 1st quarter. Zhang Financial LLC now owns 1,010 shares of the retailer’s stock valued at $740,000 after acquiring an additional 37 shares during the last quarter. Hedge funds and other institutional investors own 68.48% of the company’s stock.

Analysts Set New Price Targets

COST has been the topic of a number of research reports. Telsey Advisory Group reiterated an “outperform” rating and issued a $800.00 price target on shares of Costco Wholesale in a report on Monday, May 6th. Roth Mkm lifted their price target on shares of Costco Wholesale from $601.00 to $650.00 and gave the company a “neutral” rating in a report on Thursday, April 11th. Wells Fargo & Company lifted their price target on shares of Costco Wholesale from $610.00 to $675.00 and gave the company an “equal weight” rating in a report on Thursday, February 8th. Gordon Haskett cut shares of Costco Wholesale from a “buy” rating to an “accumulate” rating and set a $775.00 price objective for the company. in a research note on Wednesday, April 3rd. Finally, Oppenheimer lifted their price objective on shares of Costco Wholesale from $805.00 to $850.00 and gave the stock an “outperform” rating in a research note on Wednesday. Six analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $696.88.

View Our Latest Stock Analysis on COST

Insider Transactions at Costco Wholesale

In related news, EVP Claudine Adamo sold 1,500 shares of the stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $714.83, for a total transaction of $1,072,245.00. Following the completion of the sale, the executive vice president now owns 6,695 shares of the company’s stock, valued at $4,785,786.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, EVP Claudine Adamo sold 1,500 shares of the stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $714.83, for a total transaction of $1,072,245.00. Following the completion of the sale, the executive vice president now owns 6,695 shares of the company’s stock, valued at $4,785,786.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Russell D. Miller sold 785 shares of the stock in a transaction that occurred on Wednesday, April 17th. The shares were sold at an average price of $722.86, for a total transaction of $567,445.10. Following the sale, the executive vice president now directly owns 10,000 shares of the company’s stock, valued at approximately $7,228,600. The disclosure for this sale can be found here. Corporate insiders own 0.18% of the company’s stock.

Costco Wholesale Stock Down 0.7 %

Shares of COST traded down $5.52 during mid-day trading on Thursday, hitting $796.34. The company’s stock had a trading volume of 1,518,522 shares, compared to its average volume of 1,974,146. The company’s 50-day moving average is $740.99 and its 200-day moving average is $693.83. Costco Wholesale Co. has a 52-week low of $476.75 and a 52-week high of $808.05. The firm has a market capitalization of $353.18 billion, a price-to-earnings ratio of 52.08, a PEG ratio of 5.33 and a beta of 0.77. The company has a current ratio of 0.93, a quick ratio of 0.43 and a debt-to-equity ratio of 0.28.

Costco Wholesale (NASDAQ:COSTGet Free Report) last announced its quarterly earnings results on Thursday, March 7th. The retailer reported $3.71 earnings per share for the quarter, topping the consensus estimate of $3.62 by $0.09. Costco Wholesale had a net margin of 2.73% and a return on equity of 28.80%. The firm had revenue of $58.44 billion during the quarter, compared to analysts’ expectations of $59.11 billion. During the same quarter in the prior year, the company earned $3.30 EPS. The company’s revenue was up 5.7% compared to the same quarter last year. On average, equities research analysts forecast that Costco Wholesale Co. will post 15.84 EPS for the current fiscal year.

Costco Wholesale Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 10th. Stockholders of record on Friday, April 26th were given a $1.16 dividend. This represents a $4.64 annualized dividend and a dividend yield of 0.58%. The ex-dividend date of this dividend was Thursday, April 25th. This is a boost from Costco Wholesale’s previous quarterly dividend of $1.02. Costco Wholesale’s dividend payout ratio is presently 30.35%.

Costco Wholesale Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Costco Wholesale (NASDAQ:COST)

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