Costco Wholesale Co. (NASDAQ:COST) Shares Bought by Procyon Advisors LLC

Procyon Advisors LLC raised its holdings in Costco Wholesale Co. (NASDAQ:COST) by 5.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 10,658 shares of the retailer’s stock after purchasing an additional 561 shares during the period. Procyon Advisors LLC’s holdings in Costco Wholesale were worth $10,080,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Permanent Capital Management LP raised its position in Costco Wholesale by 65.8% during the first quarter. Permanent Capital Management LP now owns 534 shares of the retailer’s stock worth $505,000 after acquiring an additional 212 shares during the period. Unique Wealth LLC increased its stake in shares of Costco Wholesale by 6.2% during the first quarter. Unique Wealth LLC now owns 910 shares of the retailer’s stock worth $861,000 after purchasing an additional 53 shares in the last quarter. Next Level Private LLC raised its position in shares of Costco Wholesale by 75.3% during the 1st quarter. Next Level Private LLC now owns 447 shares of the retailer’s stock worth $423,000 after purchasing an additional 192 shares during the last quarter. Magnus Financial Group LLC raised its position in shares of Costco Wholesale by 7.2% during the 1st quarter. Magnus Financial Group LLC now owns 1,438 shares of the retailer’s stock worth $1,360,000 after purchasing an additional 96 shares during the last quarter. Finally, Insight Advisors LLC PA lifted its stake in Costco Wholesale by 2.6% in the 1st quarter. Insight Advisors LLC PA now owns 3,371 shares of the retailer’s stock valued at $3,189,000 after buying an additional 86 shares in the last quarter. 68.48% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on COST shares. JPMorgan Chase & Co. boosted their price objective on 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. Cfra Research raised Costco Wholesale from a “hold” rating to a “moderate buy” rating in a research note on Friday, April 4th. Telsey Advisory Group reiterated an “outperform” rating and set a $1,100.00 price target on shares of Costco Wholesale in a research report on Tuesday. Cowen reissued a “buy” rating on shares of Costco Wholesale in a research note on Friday, March 7th. Finally, Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Costco Wholesale in a research note on Friday, March 7th. Ten research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $1,035.32.

Insider Activity at Costco Wholesale

In other Costco Wholesale news, CEO Roland Michael Vachris sold 3,600 shares of Costco Wholesale stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $931.00, for a total value of $3,351,600.00. Following the transaction, the chief executive officer now directly owns 41,077 shares in the company, valued at approximately $38,242,687. This trade represents a 8.06% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP James C. Klauer sold 4,000 shares of the stock in a transaction dated Thursday, April 17th. The stock was sold at an average price of $981.07, for a total transaction of $3,924,280.00. Following the transaction, the executive vice president now directly owns 43,994 shares of the company’s stock, valued at $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. Insiders sold 9,600 shares of company stock valued at $9,140,195 over the last three months. 0.18% of the stock is owned by corporate insiders.

Costco Wholesale Trading Down 3.9%

COST opened at $1,010.81 on Friday. The business’s 50 day moving average price is $992.47 and its 200 day moving average price is $978.72. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.43 and a current ratio of 0.98. The stock has a market capitalization of $448.48 billion, a PE ratio of 59.35, a P/E/G ratio of 6.15 and a beta of 1.00. Costco Wholesale Co. has a one year low of $793.00 and a one year high of $1,078.24.

Costco Wholesale (NASDAQ:COST) last announced its earnings results on Thursday, May 29th. The retailer reported $4.28 EPS for the quarter, beating analysts’ consensus estimates of $4.24 by $0.04. Costco Wholesale had a return on equity of 32.31% and a net margin of 2.93%. The company had revenue of $63.21 billion during the quarter, compared to analysts’ expectations of $62.93 billion. During the same period last year, the business posted $3.78 EPS. Costco Wholesale’s revenue for the quarter was up 8.0% on a year-over-year basis. As a group, equities research analysts expect that Costco Wholesale Co. will post 18.03 EPS for the current year.

Costco Wholesale Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 16th. Stockholders of record on Friday, May 2nd were given a dividend of $1.30 per share. This is a boost from Costco Wholesale’s previous quarterly dividend of $1.16. This represents a $5.20 annualized dividend and a dividend yield of 0.51%. The ex-dividend date was Friday, May 2nd. Costco Wholesale’s dividend payout ratio is currently 29.50%.

Costco Wholesale Company Profile

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.