Precedent Wealth Partners LLC Boosts Holdings in Costco Wholesale Co. (NASDAQ:COST)

Precedent Wealth Partners LLC raised its holdings in Costco Wholesale Co. (NASDAQ:COST) by 10.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 478 shares of the retailer’s stock after purchasing an additional 44 shares during the period. Precedent Wealth Partners LLC’s holdings in Costco Wholesale were worth $452,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Capital & Planning LLC boosted its position in shares of Costco Wholesale by 28.7% in the fourth quarter. Capital & Planning LLC now owns 3,756 shares of the retailer’s stock valued at $3,441,000 after acquiring an additional 837 shares during the period. Redmond Asset Management LLC bought a new stake in Costco Wholesale during the fourth quarter valued at approximately $1,214,000. May Barnhard Investments LLC bought a new stake in Costco Wholesale during the fourth quarter valued at approximately $485,000. Ironwood Wealth Management LLC. raised its holdings in Costco Wholesale by 0.6% during the 4th quarter. Ironwood Wealth Management LLC. now owns 3,852 shares of the retailer’s stock valued at $3,529,000 after buying an additional 22 shares during the last quarter. Finally, Brighton Jones LLC raised its holdings in Costco Wholesale by 12.3% during the 4th quarter. Brighton Jones LLC now owns 19,825 shares of the retailer’s stock valued at $18,165,000 after buying an additional 2,172 shares during the last quarter. Hedge funds and other institutional investors own 68.48% of the company’s stock.

Insiders Place Their Bets

In other Costco Wholesale news, EVP Claudine Adamo sold 900 shares of the business’s 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 transaction, the executive vice president now directly owns 6,987 shares in the company, valued at approximately $6,445,926.72. The trade was a 11.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, 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 transaction 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. This represents a 19.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 11,000 shares of company stock worth $10,825,205. 0.18% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have issued reports on COST shares. Barclays boosted their price objective on shares of Costco Wholesale from $940.00 to $980.00 and gave the company an “equal weight” rating in a research report on Monday, March 10th. JPMorgan Chase & Co. upped their target price 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. Morgan Stanley upped their target price 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. Cfra Research raised shares of Costco Wholesale from a “hold” rating to a “moderate buy” rating in a research report on Friday, April 4th. 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. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $1,035.32.

Costco Wholesale Stock Down 1.2%

NASDAQ COST opened at $990.21 on Monday. The company has a quick ratio of 0.43, a current ratio of 0.98 and a debt-to-equity ratio of 0.23. The company has a fifty day moving average of $1,000.43 and a two-hundred day moving average of $981.10. The firm has a market capitalization of $439.14 billion, a price-to-earnings ratio of 58.15, a PEG ratio of 6.15 and a beta of 1.00. Costco Wholesale Co. has a 52 week low of $793.00 and a 52 week high of $1,078.24.

Costco Wholesale (NASDAQ:COST) last released its quarterly earnings data on Thursday, May 29th. The retailer reported $4.28 earnings per share for the quarter, beating the consensus estimate of $4.24 by $0.04. The firm had revenue of $63.21 billion during the quarter, compared to the consensus estimate of $62.93 billion. Costco Wholesale had a return on equity of 32.31% and a net margin of 2.93%. The firm’s quarterly revenue was up 8.0% on a year-over-year basis. During the same period in the previous year, the company posted $3.78 earnings per share. On average, analysts predict 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 was paid on Friday, May 16th. Shareholders of record on Friday, May 2nd were issued a $1.30 dividend. The ex-dividend date was Friday, May 2nd. This is an increase from Costco Wholesale’s previous quarterly dividend of $1.16. This represents a $5.20 dividend on an annualized basis and a yield of 0.53%. Costco Wholesale’s payout ratio is currently 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.