Riggs Asset Managment Co. Inc. Has $308,000 Stake in Costco Wholesale Corporation (NASDAQ:COST)

Riggs Asset Managment Co. Inc. decreased its stake in Costco Wholesale Corporation (NASDAQ:COST) by 16.2% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 326 shares of the retailer’s stock after selling 63 shares during the period. Riggs Asset Managment Co. Inc.’s holdings in Costco Wholesale were worth $308,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Investment Management Corp VA ADV acquired a new stake in Costco Wholesale in the 4th quarter valued at $25,000. Clear Investment Research LLC raised its position in Costco Wholesale by 22.2% in the 4th quarter. Clear Investment Research LLC now owns 55 shares of the retailer’s stock valued at $51,000 after purchasing an additional 10 shares during the last quarter. Aspect Partners LLC raised its position in Costco Wholesale by 24.4% in the 1st quarter. Aspect Partners LLC now owns 56 shares of the retailer’s stock valued at $53,000 after purchasing an additional 11 shares during the last quarter. Capital A Wealth Management LLC bought a new position in Costco Wholesale in the 4th quarter valued at $58,000. Finally, Mascagni Wealth Management Inc. bought a new position in Costco Wholesale in the 4th quarter valued at $59,000. Institutional investors and hedge funds own 68.48% of the company’s stock.

Costco Wholesale Stock Up 0.4%

Shares of Costco Wholesale stock opened at $986.27 on Friday. The company has a quick ratio of 0.52, a current ratio of 1.02 and a debt-to-equity ratio of 0.21. Costco Wholesale Corporation has a 12 month low of $793.00 and a 12 month high of $1,078.24. The business has a fifty day simple moving average of $1,005.20 and a 200 day simple moving average of $981.20. The stock has a market cap of $437.39 billion, a PE ratio of 55.94, a price-to-earnings-growth ratio of 6.14 and a beta of 0.97.

Costco Wholesale (NASDAQ:COST) last announced 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 return on equity of 30.48% and a net margin of 2.92%. The business had revenue of $63.21 billion during the quarter, compared to analysts’ expectations of $62.93 billion. During the same period in the previous year, the firm earned $3.78 earnings per share. The firm’s quarterly revenue was up 8.0% compared to the same quarter last year. Research analysts predict that Costco Wholesale Corporation will post 18.03 EPS for the current year.

Costco Wholesale Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 16th. Shareholders of record on Friday, May 2nd were paid a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 0.53%. This is a boost from Costco Wholesale’s previous quarterly dividend of $1.16. The ex-dividend date was Friday, May 2nd. Costco Wholesale’s payout ratio is presently 29.50%.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. Loop Capital cut their price objective on Costco Wholesale from $1,115.00 to $1,110.00 and set a “buy” rating for the company in a research report on Thursday, May 29th. Stifel Nicolaus set a $1,035.00 price objective on Costco Wholesale in a research report on Thursday, May 29th. Truist Financial lifted their price objective on Costco Wholesale from $995.00 to $1,042.00 and gave the company a “hold” 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 report on Friday, June 6th. Finally, Cfra Research upgraded Costco Wholesale from a “hold” rating to a “moderate buy” rating in a research report on Friday, April 4th. Nine analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $1,034.79.

Insiders Place Their Bets

In other Costco Wholesale news, EVP James C. Klauer sold 4,000 shares of the business’s stock in a transaction dated Thursday, April 17th. The stock was sold at an average price of $981.07, for a total value of $3,924,280.00. Following the completion of the transaction, the executive vice president directly owned 43,994 shares of the company’s stock, valued at approximately $43,161,193.58. The trade was a 8.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Patrick J. Callans sold 3,000 shares of the business’s stock in a transaction dated Monday, June 9th. The shares were 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 directly owned 58,543 shares of the company’s stock, valued at approximately $58,705,164.11. The trade was a 4.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 9,547 shares of company stock valued at $9,496,950 in the last three months. 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.