Costco Wholesale Corporation (NASDAQ:COST) Stock Holdings Lifted by King Wealth Management Group

King Wealth Management Group boosted its position in shares of Costco Wholesale Corporation (NASDAQ:COST) by 1.0% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 12,859 shares of the retailer’s stock after purchasing an additional 129 shares during the period. Costco Wholesale accounts for 1.8% of King Wealth Management Group’s investment portfolio, making the stock its 14th biggest holding. King Wealth Management Group’s holdings in Costco Wholesale were worth $12,162,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Investment Management Corp VA ADV bought a new stake in Costco Wholesale in the fourth quarter worth approximately $25,000. Aspect Partners LLC grew its position in Costco Wholesale by 24.4% in the first quarter. Aspect Partners LLC now owns 56 shares of the retailer’s stock worth $53,000 after acquiring an additional 11 shares in the last quarter. Capital A Wealth Management LLC bought a new stake in Costco Wholesale in the fourth quarter worth approximately $58,000. Mascagni Wealth Management Inc. bought a new stake in Costco Wholesale in the fourth quarter worth approximately $59,000. Finally, Bank & Trust Co grew its position in Costco Wholesale by 20.4% in the first quarter. Bank & Trust Co now owns 65 shares of the retailer’s stock worth $61,000 after acquiring an additional 11 shares in the last quarter. 68.48% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have commented on COST shares. Stifel Nicolaus set a $1,035.00 target price on shares of Costco Wholesale in a research report on Thursday, May 29th. Mizuho assumed coverage on shares of Costco Wholesale in a research note on Friday, April 11th. They issued a “neutral” rating and a $975.00 price objective for the company. Wall Street Zen upgraded shares of Costco Wholesale from a “hold” rating to a “buy” rating in a research note on Friday, June 6th. Evercore ISI reduced their price objective on shares of Costco Wholesale from $1,075.00 to $1,060.00 and set an “outperform” rating for the company in a research note on Tuesday, June 17th. Finally, Loop Capital reduced their price objective on shares of Costco Wholesale from $1,115.00 to $1,110.00 and set a “buy” rating for the company in a research note on Thursday, May 29th. Nine equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,037.48.

Costco Wholesale Stock Down 0.8%

COST opened at $927.51 on Thursday. The firm’s 50-day simple moving average is $986.03 and its 200-day simple moving average is $983.48. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.52 and a current ratio of 1.02. Costco Wholesale Corporation has a twelve month low of $793.00 and a twelve month high of $1,078.23. The firm has a market cap of $411.33 billion, a price-to-earnings ratio of 52.61, a PEG ratio of 5.81 and a beta of 0.97.

Costco Wholesale (NASDAQ:COST) last issued its quarterly earnings data on Thursday, May 29th. The retailer reported $4.28 EPS for the quarter, topping analysts’ consensus estimates of $4.24 by $0.04. Costco Wholesale had a net margin of 2.92% and a return on equity of 30.48%. The firm had revenue of $63.21 billion for the quarter, compared to analyst estimates of $62.93 billion. During the same quarter in the prior year, the firm earned $3.78 EPS. The company’s revenue was up 8.0% on a year-over-year basis. Equities research analysts anticipate that Costco Wholesale Corporation will post 18.03 EPS for the current fiscal year.

Costco Wholesale Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Friday, August 1st will be issued a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 0.56%. The ex-dividend date is Friday, August 1st. Costco Wholesale’s dividend payout ratio is currently 29.50%.

Insider Activity at Costco Wholesale

In other Costco Wholesale news, EVP Pierre Riel sold 2,000 shares of the stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $1,014.15, for a total transaction of $2,028,300.00. Following the sale, the executive vice president owned 8,210 shares of the company’s stock, valued at $8,326,171.50. This represents a 19.59% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Yoram Rubanenko sold 4,000 shares of the company’s stock in a transaction dated Monday, July 14th. The shares were sold at an average price of $974.96, for a total transaction of $3,899,840.00. Following the transaction, the executive vice president owned 5,774 shares in the company, valued at approximately $5,629,419.04. The trade was a 40.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 9,547 shares of company stock worth $9,472,510 in the last quarter. Insiders own 0.18% of the company’s stock.

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.