Grandview Asset Management LLC Acquires 22 Shares of Costco Wholesale Corporation (NASDAQ:COST)

Grandview Asset Management LLC lifted its holdings in shares of Costco Wholesale Corporation (NASDAQ:COST) by 0.8% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,867 shares of the retailer’s stock after acquiring an additional 22 shares during the quarter. Costco Wholesale makes up about 1.0% of Grandview Asset Management LLC’s portfolio, making the stock its 23rd biggest holding. Grandview Asset Management LLC’s holdings in Costco Wholesale were worth $2,711,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in COST. Investment Management Corp VA ADV bought a new position in Costco Wholesale during the fourth quarter worth $25,000. Synergy Investment Management LLC acquired a new stake in shares of Costco Wholesale during the 4th quarter worth about $31,000. NewSquare Capital LLC boosted its holdings 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 buying an additional 25 shares during the period. Clear Investment Research LLC boosted its holdings 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 worth $51,000 after buying an additional 10 shares during the period. Finally, Capital A Wealth Management LLC acquired a new position in Costco Wholesale in the 4th quarter valued at about $58,000. 68.48% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have issued reports on COST. Morgan Stanley raised their price objective 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. Wall Street Zen upgraded Costco Wholesale from a “hold” rating to a “buy” rating in a research note on Friday, June 6th. Barclays lifted their price target on Costco Wholesale from $940.00 to $980.00 and gave the stock an “equal weight” rating in a report on Monday, March 10th. Loop Capital decreased their price objective on Costco Wholesale from $1,115.00 to $1,110.00 and set a “buy” rating on the stock in a report on Thursday, May 29th. Finally, Stifel Nicolaus set a $1,035.00 target price on Costco Wholesale in a report on Thursday, May 29th. Nine equities research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Costco Wholesale has an average rating of “Moderate Buy” and a consensus price target of $1,034.79.

Insider Buying and Selling

In other Costco Wholesale news, EVP Patrick J. Callans sold 3,000 shares of the stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $1,002.77, for a total value of $3,008,310.00. Following the completion of the transaction, the executive vice president now directly owns 58,543 shares in the company, valued at approximately $58,705,164.11. This trade represents a 4.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Gary Millerchip sold 1,100 shares of the business’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 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. Insiders sold a total of 11,000 shares of company stock worth $10,825,205 in the last three months. 0.18% of the stock is owned by corporate insiders.

Costco Wholesale Trading Down 0.3%

Shares of COST opened at $974.90 on Thursday. 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 52-week low of $793.00 and a 52-week high of $1,078.24. The firm has a market cap of $432.35 billion, a price-to-earnings ratio of 55.30, a PEG ratio of 5.77 and a beta of 1.00. The business’s fifty day moving average is $1,002.39 and its 200-day moving average is $981.12.

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

Costco Wholesale Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 16th. Investors 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 annualized dividend and a dividend yield of 0.53%. Costco Wholesale’s payout ratio is 29.50%.

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.