Costco Wholesale Co. (NASDAQ:COST) Shares Sold by Morse Asset Management Inc

Morse Asset Management Inc cut its stake in Costco Wholesale Co. (NASDAQ:COST) by 16.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,233 shares of the retailer’s stock after selling 1,248 shares during the quarter. Costco Wholesale makes up approximately 1.3% of Morse Asset Management Inc’s investment portfolio, making the stock its 22nd largest position. Morse Asset Management Inc’s holdings in Costco Wholesale were worth $5,711,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of COST. Synergy Investment Management LLC acquired a new position in Costco Wholesale in the fourth quarter valued at approximately $31,000. NewSquare Capital LLC raised 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 buying an additional 25 shares during the period. Endeavor Private Wealth Inc. acquired a new position in shares of Costco Wholesale during the 4th quarter worth approximately $33,000. Collier Financial acquired a new position in shares of Costco Wholesale during the 4th quarter worth approximately $35,000. Finally, Barrett & Company Inc. raised its stake in shares of Costco Wholesale by 59.3% during the 4th quarter. Barrett & Company Inc. now owns 43 shares of the retailer’s stock worth $39,000 after buying an additional 16 shares during the period. 68.48% of the stock is owned by institutional investors and hedge funds.

Costco Wholesale Stock Performance

NASDAQ COST opened at $1,016.15 on Tuesday. The stock has a market cap of $450.85 billion, a PE ratio of 59.67, a P/E/G ratio of 6.15 and a beta of 1.00. The company has a current ratio of 0.98, a quick ratio of 0.43 and a debt-to-equity ratio of 0.23. Costco Wholesale Co. has a twelve month low of $771.43 and a twelve month high of $1,078.24. The stock has a fifty day simple moving average of $958.05 and a 200-day simple moving average of $964.92.

Costco Wholesale (NASDAQ:COST) last released its quarterly earnings results on Thursday, March 6th. The retailer reported $4.02 earnings per share for the quarter, missing analysts’ consensus estimates of $4.09 by ($0.07). The business had revenue of $63.72 billion for the quarter, compared to analysts’ expectations of $63.02 billion. Costco Wholesale had a return on equity of 32.31% and a net margin of 2.93%. Equities analysts anticipate that Costco Wholesale Co. will post 18.03 earnings per share for the current year.

Costco Wholesale Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 16th. Investors of record on Friday, May 2nd will be issued a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 0.51%. This is a boost from Costco Wholesale’s previous quarterly dividend of $1.16. The ex-dividend date of this dividend is Friday, May 2nd. Costco Wholesale’s dividend payout ratio (DPR) is 30.36%.

Wall Street Analyst Weigh In

COST has been the subject of several research analyst reports. Mizuho initiated coverage on Costco Wholesale in a research note on Friday, April 11th. They set a “neutral” rating and a $975.00 target price for the company. Evercore ISI upped their target price on Costco Wholesale from $1,050.00 to $1,070.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 11th. Stifel Nicolaus reduced their target price on Costco Wholesale from $1,075.00 to $1,035.00 and set a “buy” rating for the company in a research note on Thursday, March 20th. Loop Capital reduced their target price on Costco Wholesale from $1,150.00 to $1,045.00 and set a “buy” rating for the company in a research note on Wednesday, April 9th. Finally, Sanford C. Bernstein reissued an “outperform” rating on shares of Costco Wholesale in a research note on Friday, March 7th. Ten analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $1,024.03.

Insider Activity at Costco Wholesale

In other Costco Wholesale news, 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 value of $3,924,280.00. Following the sale, the executive vice president now owns 43,994 shares of the company’s stock, valued at $43,161,193.58. This trade represents a 8.33% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Claudine Adamo sold 900 shares of the stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $922.56, for a total value of $830,304.00. Following the completion of the sale, the executive vice president now directly owns 6,987 shares in the company, valued at $6,445,926.72. This represents a 11.41% decrease in their position. The disclosure for this sale can be found here. Insiders sold 9,600 shares of company stock worth $9,140,195 in the last three months. 0.18% of the stock is owned by company insiders.

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.