NorthRock Partners LLC Raises Stock Holdings in Costco Wholesale Co. (NASDAQ:COST)

NorthRock Partners LLC boosted its holdings in Costco Wholesale Co. (NASDAQ:COST) by 18.2% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 6,855 shares of the retailer’s stock after buying an additional 1,054 shares during the quarter. NorthRock Partners LLC’s holdings in Costco Wholesale were worth $5,022,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of COST. Capital Investment Advisors LLC increased its position in shares of Costco Wholesale by 23.6% during the 4th quarter. Capital Investment Advisors LLC now owns 10,517 shares of the retailer’s stock valued at $6,942,000 after purchasing an additional 2,011 shares during the last quarter. Walker Asset Management LLC purchased a new stake in shares of Costco Wholesale during the 4th quarter valued at about $422,000. StrongBox Wealth LLC grew its stake in shares of Costco Wholesale by 2.0% during the 4th quarter. StrongBox Wealth LLC now owns 6,093 shares of the retailer’s stock valued at $4,022,000 after acquiring an additional 118 shares during the period. Diversified Trust Co grew its stake in shares of Costco Wholesale by 22.9% during the 4th quarter. Diversified Trust Co now owns 6,530 shares of the retailer’s stock valued at $4,310,000 after acquiring an additional 1,217 shares during the period. Finally, Pure Financial Advisors LLC grew its stake in shares of Costco Wholesale by 21.3% during the 4th quarter. Pure Financial Advisors LLC now owns 7,008 shares of the retailer’s stock valued at $4,626,000 after acquiring an additional 1,230 shares during the period. Hedge funds and other institutional investors own 68.48% of the company’s stock.

Costco Wholesale Stock Up 0.7 %

COST stock traded up $5.83 during mid-day trading on Monday, reaching $848.73. The company had a trading volume of 2,061,631 shares, compared to its average volume of 1,995,748. 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 Co. has a fifty-two week low of $530.56 and a fifty-two week high of $896.67. The company has a market capitalization of $376.27 billion, a price-to-earnings ratio of 52.88, a price-to-earnings-growth ratio of 5.67 and a beta of 0.78. The firm has a fifty day simple moving average of $829.88 and a 200 day simple moving average of $754.71.

Costco Wholesale (NASDAQ:COST) last released its quarterly earnings results on Thursday, May 30th. The retailer reported $3.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.70 by $0.08. Costco Wholesale had a return on equity of 30.02% and a net margin of 2.83%. The firm had revenue of $58.52 billion for the quarter, compared to the consensus estimate of $58.16 billion. During the same quarter last year, the business posted $3.43 EPS. The firm’s quarterly revenue was up 9.1% compared to the same quarter last year. Analysts forecast that Costco Wholesale Co. will post 15.97 earnings per share for the current fiscal year.

Costco Wholesale Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 9th. Investors of record on Friday, July 26th will be issued a dividend of $1.16 per share. The ex-dividend date is Friday, July 26th. This represents a $4.64 annualized dividend and a yield of 0.55%. Costco Wholesale’s dividend payout ratio is presently 28.75%.

Analyst Ratings Changes

Several research firms have weighed in on COST. Argus upped their price target on Costco Wholesale from $805.00 to $900.00 and gave the stock a “buy” rating in a research note on Tuesday, May 28th. Tigress Financial increased their price target on Costco Wholesale from $870.00 to $975.00 and gave the company a “buy” rating in a report on Tuesday, June 25th. BMO Capital Markets reiterated an “outperform” rating and issued a $875.00 target price (up previously from $800.00) on shares of Costco Wholesale in a research note on Friday, May 31st. Barclays increased their target price on Costco Wholesale from $765.00 to $830.00 and gave the stock an “equal weight” rating in a research note on Thursday. Finally, Wells Fargo & Company increased their price target on Costco Wholesale from $775.00 to $800.00 and gave the stock an “equal weight” rating in a research report on Thursday. Seven research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company. According to data from MarketBeat, Costco Wholesale presently has a consensus rating of “Moderate Buy” and a consensus target price of $799.33.

Insider Buying and Selling

In other news, Director Kenneth D. Denman sold 350 shares of Costco Wholesale stock in a transaction on Monday, July 15th. The stock was sold at an average price of $851.53, for a total value of $298,035.50. Following the completion of the sale, the director now owns 5,920 shares of the company’s stock, valued at $5,041,057.60. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, EVP Russell D. Miller sold 785 shares of the business’s stock in a transaction dated 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 owns 10,000 shares in the company, valued at $7,228,600. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Kenneth D. Denman sold 350 shares of the company’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $851.53, for a total value of $298,035.50. Following the sale, the director now owns 5,920 shares in the company, valued at approximately $5,041,057.60. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 4,135 shares of company stock valued at $3,404,576. 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.