Oppenheimer Asset Management Inc. Sells 1,451 Shares of Costco Wholesale Corporation (NASDAQ:COST)

Oppenheimer Asset Management Inc. cut its stake in Costco Wholesale Corporation (NASDAQ:COST) by 9.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,366 shares of the retailer’s stock after selling 1,451 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Costco Wholesale were worth $13,587,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of COST. GAMMA Investing LLC raised its position in shares of Costco Wholesale by 106,402.1% in the first quarter. GAMMA Investing LLC now owns 8,160,190 shares of the retailer’s stock valued at $7,717,744,000 after purchasing an additional 8,152,528 shares during the period. Norges Bank bought a new position in shares of Costco Wholesale in the fourth quarter valued at about $5,182,316,000. Proficio Capital Partners LLC raised its position in shares of Costco Wholesale by 74,796.3% in the fourth quarter. Proficio Capital Partners LLC now owns 1,521,893 shares of the retailer’s stock valued at $1,394,465,000 after purchasing an additional 1,519,861 shares during the period. Leigh Baldwin & CO. LLC bought a new position in shares of Costco Wholesale in the fourth quarter valued at about $95,452,000. Finally, Northern Trust Corp raised its position in shares of Costco Wholesale by 12.6% in the fourth quarter. Northern Trust Corp now owns 5,257,809 shares of the retailer’s stock valued at $4,817,573,000 after purchasing an additional 587,303 shares during the period. 68.48% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on COST shares. Mizuho started coverage on shares of Costco Wholesale in a research report on Friday, April 11th. They set a “neutral” rating and a $975.00 price target on the stock. Morgan Stanley raised their price target on shares of Costco Wholesale from $1,150.00 to $1,225.00 and gave the stock an “overweight” rating in a research report on Friday, May 30th. JPMorgan Chase & Co. raised their price target on shares of Costco Wholesale from $1,065.00 to $1,070.00 and gave the stock an “overweight” rating in a research report on Friday, March 7th. Telsey Advisory Group reaffirmed an “outperform” rating and set a $1,100.00 price target on shares of Costco Wholesale in a research report on Tuesday, June 3rd. Finally, Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Costco Wholesale in a research report on Friday, March 7th. Nine research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $1,034.79.

Costco Wholesale Trading Up 2.5%

COST opened at $1,004.48 on Tuesday. The company’s 50 day moving average is $1,003.44 and its 200-day moving average is $981.11. Costco Wholesale Corporation has a 1-year low of $793.00 and a 1-year high of $1,078.24. 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 $445.47 billion, a P/E ratio of 56.98, a PEG ratio of 5.79 and a beta of 1.00.

Costco Wholesale (NASDAQ:COST) last posted its quarterly earnings results on Thursday, May 29th. The retailer reported $4.28 earnings per share for the quarter, beating 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 company had revenue of $63.21 billion for the quarter, compared to the consensus estimate of $62.93 billion. During the same period last year, the company posted $3.78 EPS. The firm’s quarterly revenue was up 8.0% compared to the same quarter last year. Equities research analysts predict that Costco Wholesale Corporation will post 18.03 earnings per share for the current fiscal year.

Costco Wholesale Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 16th. Investors of record on Friday, May 2nd were issued a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 0.52%. The ex-dividend date was Friday, May 2nd. This is a positive change from Costco Wholesale’s previous quarterly dividend of $1.16. Costco Wholesale’s dividend payout ratio (DPR) is 29.50%.

Insider Activity at Costco Wholesale

In related news, Director Susan L. Decker sold 547 shares of the firm’s stock in a transaction that occurred on Wednesday, June 18th. The shares were sold at an average price of $980.00, for a total value of $536,060.00. Following the completion of the transaction, the director now owns 11,531 shares in the company, valued at $11,300,380. This trade represents a 4.53% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Patrick J. Callans sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $1,002.77, for a total transaction of $3,008,310.00. Following the transaction, the executive vice president now owns 58,543 shares of the company’s stock, valued at approximately $58,705,164.11. The trade was a 4.87% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 10,647 shares of company stock worth $10,530,961 in the last quarter. 0.18% of the stock is owned by insiders.

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.