Costco Wholesale Co. (NASDAQ:COST) Shares Sold by BOK Financial Private Wealth Inc.

BOK Financial Private Wealth Inc. trimmed its stake in Costco Wholesale Co. (NASDAQ:COST) by 21.5% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,271 shares of the retailer’s stock after selling 1,718 shares during the quarter. BOK Financial Private Wealth Inc.’s holdings in Costco Wholesale were worth $4,594,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Richelieu Gestion SA purchased a new stake in Costco Wholesale during the fourth quarter valued at about $25,000. Frank Rimerman Advisors LLC purchased a new stake in Costco Wholesale during the fourth quarter valued at about $26,000. Redmont Wealth Advisors LLC purchased a new stake in Costco Wholesale during the first quarter valued at about $32,000. Morton Brown Family Wealth LLC grew its position in Costco Wholesale by 200.0% during the fourth quarter. Morton Brown Family Wealth LLC now owns 45 shares of the retailer’s stock valued at $30,000 after acquiring an additional 30 shares during the period. Finally, Wetzel Investment Advisors Inc. purchased a new stake in Costco Wholesale during the fourth quarter valued at about $30,000. 68.48% of the stock is currently owned by institutional investors and hedge funds.

Costco Wholesale Price Performance

Shares of COST stock traded up $23.01 during mid-day trading on Friday, hitting $885.67. 2,620,714 shares of the stock traded hands, compared to its average volume of 1,559,025. Costco Wholesale Co. has a twelve month low of $524.63 and a twelve month high of $886.94. The firm has a market cap of $392.64 billion, a price-to-earnings ratio of 54.87, a price-to-earnings-growth ratio of 5.70 and a beta of 0.78. The company’s 50-day simple moving average is $816.01 and its 200-day simple moving average is $746.64. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.45 and a current ratio of 0.94.

Costco Wholesale (NASDAQ:COST) last issued its quarterly earnings results on Thursday, May 30th. The retailer reported $3.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.70 by $0.08. Costco Wholesale had a return on equity of 30.02% and a net margin of 2.83%. The company had revenue of $58.52 billion for the quarter, compared to analysts’ expectations of $58.16 billion. During the same period last year, the firm earned $3.43 EPS. The firm’s revenue for the quarter was up 9.1% on a year-over-year basis. As a group, equities research analysts expect that Costco Wholesale Co. will post 15.98 earnings per share for the current year.

Costco Wholesale Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 10th. Stockholders of record on Friday, April 26th were given a dividend of $1.16 per share. The ex-dividend date was Thursday, April 25th. This is a boost from Costco Wholesale’s previous quarterly dividend of $1.02. This represents a $4.64 annualized dividend and a dividend yield of 0.52%. Costco Wholesale’s dividend payout ratio (DPR) is 28.75%.

Wall Street Analysts Forecast Growth

COST has been the subject of several analyst reports. Argus upped their target price on Costco Wholesale from $805.00 to $900.00 and gave the stock a “buy” rating in a research report on Tuesday, May 28th. StockNews.com raised Costco Wholesale from a “hold” rating to a “buy” rating in a report on Sunday, June 2nd. Citigroup increased their target price on Costco Wholesale from $710.00 to $800.00 and gave the stock a “neutral” rating in a report on Friday, May 31st. TD Cowen increased their target price on Costco Wholesale from $777.00 to $850.00 and gave the stock a “buy” rating in a report on Friday, May 31st. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a $875.00 target price (up previously from $800.00) on shares of Costco Wholesale in a report on Friday, May 31st. Seven analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $758.70.

Insider Activity

In related news, EVP Russell D. Miller sold 785 shares of Costco Wholesale stock in a transaction on Wednesday, April 17th. The stock was sold at an average price of $722.86, for a total value of $567,445.10. Following the transaction, the executive vice president now directly owns 10,000 shares in the company, valued at approximately $7,228,600. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.18% of the stock is owned by 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.