Jamison Private Wealth Management Inc. Sells 34 Shares of Costco Wholesale Corporation (NASDAQ:COST)

Jamison Private Wealth Management Inc. lessened its stake in Costco Wholesale Corporation (NASDAQ:COST) by 0.3% during the first quarter, HoldingsChannel reports. The institutional investor owned 10,164 shares of the retailer’s stock after selling 34 shares during the period. Costco Wholesale comprises about 1.5% of Jamison Private Wealth Management Inc.’s investment portfolio, making the stock its 21st largest position. Jamison Private Wealth Management Inc.’s holdings in Costco Wholesale were worth $9,613,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of Costco Wholesale by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 42,201,610 shares of the retailer’s stock valued at $38,668,069,000 after purchasing an additional 455,043 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Costco Wholesale by 2.7% during the 4th quarter. Geode Capital Management LLC now owns 9,739,175 shares of the retailer’s stock valued at $8,901,249,000 after purchasing an additional 252,118 shares in the last quarter. FMR LLC boosted its position in shares of Costco Wholesale by 1.6% during the 4th quarter. FMR LLC now owns 9,457,824 shares of the retailer’s stock valued at $8,665,921,000 after purchasing an additional 149,209 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of Costco Wholesale by 106,402.1% during the 1st 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 in the last quarter. Finally, Norges Bank bought a new stake in shares of Costco Wholesale during the 4th quarter valued at about $5,182,316,000. Institutional investors own 68.48% of the company’s stock.

Insider Activity

In other Costco Wholesale news, EVP Claudine Adamo sold 900 shares of the stock in a transaction on Monday, March 24th. The stock was sold at an average price of $922.56, for a total transaction of $830,304.00. Following the completion of the transaction, the executive vice president now directly owns 6,987 shares of the company’s stock, valued at approximately $6,445,926.72. This represents a 11.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Pierre Riel sold 2,000 shares of the stock in a transaction on Friday, June 6th. The shares were sold at an average price of $1,014.15, for a total value of $2,028,300.00. Following the transaction, the executive vice president now directly owns 8,210 shares of the company’s stock, valued at approximately $8,326,171.50. This trade represents a 19.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 11,547 shares of company stock valued at $11,361,265 over the last three months. Corporate insiders own 0.18% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. JPMorgan Chase & Co. upped their target price on Costco Wholesale from $1,065.00 to $1,070.00 and gave the company an “overweight” rating in a research report on Friday, March 7th. Barclays upped their target price on Costco Wholesale from $940.00 to $980.00 and gave the company an “equal weight” rating in a research report on Monday, March 10th. Truist Financial upped their price target on Costco Wholesale from $995.00 to $1,042.00 and gave the stock a “hold” rating in a research note on Friday, May 30th. Wall Street Zen raised Costco Wholesale from a “hold” rating to a “buy” rating in a research note on Friday, June 6th. Finally, Robert W. Baird upped their price target on Costco Wholesale from $1,075.00 to $1,125.00 and gave the stock an “outperform” rating in a research note 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 company. Based on data from MarketBeat.com, Costco Wholesale currently has an average rating of “Moderate Buy” and a consensus target price of $1,034.79.

Costco Wholesale Stock Performance

Shares of Costco Wholesale stock opened at $980.29 on Friday. The company has a market cap of $434.74 billion, a PE ratio of 55.60, a price-to-earnings-growth ratio of 5.76 and a beta of 1.00. The company has a quick ratio of 0.52, a current ratio of 1.02 and a debt-to-equity ratio of 0.21. The business has a 50 day moving average price of $1,002.94 and a 200-day moving average price of $981.10. Costco Wholesale Corporation has a 52 week low of $793.00 and a 52 week high of $1,078.24.

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 the consensus estimate of $4.24 by $0.04. The company had revenue of $63.21 billion during the quarter, compared to analyst estimates of $62.93 billion. Costco Wholesale had a return on equity of 30.48% and a net margin of 2.92%. Costco Wholesale’s quarterly revenue was up 8.0% on a year-over-year basis. During the same period in the prior year, the company posted $3.78 earnings per share. Equities analysts anticipate that Costco Wholesale Corporation will post 18.03 earnings per share for the current fiscal year.

Costco Wholesale Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 16th. Stockholders of record on Friday, May 2nd were issued a $1.30 dividend. The ex-dividend date of this dividend 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 dividend payout ratio is currently 29.50%.

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.