Analyst IMS Investment Management Services Ltd. Sells 141 Shares of Costco Wholesale Corporation (NASDAQ:COST)

Analyst IMS Investment Management Services Ltd. cut its stake in shares of Costco Wholesale Corporation (NASDAQ:COST) by 1.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 7,225 shares of the retailer’s stock after selling 141 shares during the period. Analyst IMS Investment Management Services Ltd.’s holdings in Costco Wholesale were worth $6,833,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Investment Management Corp VA ADV purchased a new position in shares of Costco Wholesale in the fourth quarter worth approximately $25,000. Synergy Investment Management LLC bought a new position in Costco Wholesale in the fourth quarter worth approximately $31,000. NewSquare Capital LLC boosted its stake in shares of Costco Wholesale by 250.0% during the 4th quarter. NewSquare Capital LLC now owns 35 shares of the retailer’s stock worth $32,000 after acquiring an additional 25 shares during the last quarter. Clear Investment Research LLC grew its position in shares of 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 acquiring an additional 10 shares during the period. Finally, Capital A Wealth Management LLC bought a new stake in shares of Costco Wholesale during the 4th quarter valued at $58,000. 68.48% of the stock is owned by institutional investors.

Costco Wholesale Stock Performance

Shares of COST stock opened at $974.90 on Thursday. Costco Wholesale Corporation has a 12-month low of $793.00 and a 12-month high of $1,078.24. The business’s fifty day simple moving average is $1,002.39 and its 200-day simple moving average is $981.12. The company has a current ratio of 1.02, a quick ratio of 0.52 and a debt-to-equity ratio of 0.21. The company has a market cap of $432.35 billion, a PE ratio of 55.30, a PEG ratio of 5.77 and a beta of 1.00.

Costco Wholesale (NASDAQ:COST) last announced its earnings results on Thursday, May 29th. The retailer reported $4.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.24 by $0.04. The company had revenue of $63.21 billion for the quarter, compared to analyst estimates of $62.93 billion. Costco Wholesale had a return on equity of 30.48% and a net margin of 2.92%. The firm’s quarterly revenue was up 8.0% compared to the same quarter last year. During the same period in the prior year, the company posted $3.78 EPS. Analysts expect that Costco Wholesale Corporation will post 18.03 earnings per share for the current fiscal year.

Costco Wholesale Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 16th. Stockholders of record on Friday, May 2nd were issued a dividend of $1.30 per share. The ex-dividend date was Friday, May 2nd. This is a positive change from Costco Wholesale’s previous quarterly dividend of $1.16. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.53%. Costco Wholesale’s payout ratio is 29.50%.

Insider Buying and Selling at Costco Wholesale

In other news, EVP Pierre Riel sold 2,000 shares of the business’s stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $1,014.15, for a total value of $2,028,300.00. Following the completion of the transaction, the executive vice president now owns 8,210 shares of the company’s stock, valued at $8,326,171.50. The trade was a 19.59% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Gary Millerchip sold 1,100 shares of the firm’s stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $940.01, for a total value of $1,034,011.00. Following the sale, the executive vice president now directly owns 11,165 shares in the company, valued at approximately $10,495,211.65. This trade represents a 8.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 11,000 shares of company stock worth $10,825,205. 0.18% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Cfra Research upgraded Costco Wholesale from a “hold” rating to a “moderate buy” rating in a research report on Friday, April 4th. Truist Financial raised their price objective on Costco Wholesale from $995.00 to $1,042.00 and gave the stock a “hold” rating in a research note on Friday, May 30th. Mizuho began coverage on Costco Wholesale in a research note on Friday, April 11th. They set a “neutral” rating and a $975.00 price objective for the company. Barclays lifted their price target on shares of Costco Wholesale from $940.00 to $980.00 and gave the company an “equal weight” rating in a report on Monday, March 10th. Finally, Cowen reissued a “buy” rating on shares of Costco Wholesale in a research note on Friday, March 7th. Nine investment analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the stock. According to data from MarketBeat, Costco Wholesale presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,034.79.

Costco Wholesale 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.