Jacobs Levy Equity Management Inc. Sells 2,906 Shares of Costco Wholesale Co. (NASDAQ:COST)

Jacobs Levy Equity Management Inc. decreased its stake in Costco Wholesale Co. (NASDAQ:COST) by 13.2% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 19,102 shares of the retailer’s stock after selling 2,906 shares during the quarter. Jacobs Levy Equity Management Inc.’s holdings in Costco Wholesale were worth $13,995,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of COST. Frank Rimerman Advisors LLC purchased a new position in shares of Costco Wholesale during the fourth quarter worth $26,000. Morton Brown Family Wealth LLC boosted its stake in shares of Costco Wholesale by 200.0% during the 4th quarter. Morton Brown Family Wealth LLC now owns 45 shares of the retailer’s stock worth $30,000 after acquiring an additional 30 shares in the last quarter. Wetzel Investment Advisors Inc. acquired a new position in Costco Wholesale in the 4th quarter valued at $30,000. Redmont Wealth Advisors LLC purchased a new stake in shares of Costco Wholesale during the 1st quarter valued at $32,000. Finally, Vima LLC purchased a new stake in Costco Wholesale during the 4th quarter worth $34,000. Institutional investors and hedge funds own 68.48% of the company’s stock.

Costco Wholesale Stock Performance

NASDAQ:COST traded up $14.22 during mid-day trading on Wednesday, reaching $824.25. 683,458 shares of the company’s stock were exchanged, compared to its average volume of 1,979,787. Costco Wholesale Co. has a one year low of $530.56 and a one year high of $896.67. The firm has a market capitalization of $365.41 billion, a PE ratio of 50.77, a price-to-earnings-growth ratio of 5.48 and a beta of 0.78. The business’s fifty day simple moving average is $842.53 and its two-hundred day simple moving average is $769.29. 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 posted its earnings results on Thursday, May 30th. The retailer reported $3.78 EPS for the quarter, topping the consensus estimate of $3.70 by $0.08. Costco Wholesale had a net margin of 2.83% and a return on equity of 30.02%. The business had revenue of $58.52 billion for the quarter, compared to the consensus estimate of $58.16 billion. During the same period last year, the company earned $3.43 EPS. The firm’s revenue was up 9.1% compared to the same quarter last year. Analysts anticipate that Costco Wholesale Co. will post 15.97 earnings per share for the current fiscal year.

Costco Wholesale Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 9th. Investors of record on Friday, July 26th will be issued a $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a dividend yield of 0.56%. The ex-dividend date of this dividend is Friday, July 26th. Costco Wholesale’s dividend payout ratio (DPR) is currently 28.75%.

Insider Buying and Selling at Costco Wholesale

In related news, insider Daniel M. Hines sold 1,500 shares of the company’s stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $844.20, for a total value of $1,266,300.00. Following the transaction, the insider now directly owns 12,492 shares in the company, valued at $10,545,746.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, Director Kenneth D. Denman sold 350 shares of Costco Wholesale stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $851.53, for a total transaction of $298,035.50. Following the transaction, the director now directly owns 5,920 shares of the company’s stock, valued at approximately $5,041,057.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Daniel M. Hines sold 1,500 shares of the firm’s stock in a transaction on Friday, July 12th. The shares were sold at an average price of $844.20, for a total transaction of $1,266,300.00. Following the completion of the transaction, the insider now directly owns 12,492 shares of the company’s stock, valued at $10,545,746.40. The disclosure for this sale can be found here. Insiders have sold a total of 3,350 shares of company stock valued at $2,837,131 over the last three months. 0.18% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on COST shares. Stifel Nicolaus increased their price objective on shares of Costco Wholesale from $900.00 to $950.00 and gave the stock a “buy” rating in a research note on Thursday, July 11th. Robert W. Baird upped their price target on shares of Costco Wholesale from $850.00 to $975.00 and gave the company an “outperform” rating in a research report on Thursday, July 11th. BMO Capital Markets restated an “outperform” rating and set a $875.00 price target (up previously from $800.00) on shares of Costco Wholesale in a report on Friday, May 31st. Telsey Advisory Group reiterated an “outperform” rating and issued a $900.00 target price on shares of Costco Wholesale in a report on Monday, July 8th. Finally, Loop Capital upped their target price on shares of Costco Wholesale from $940.00 to $970.00 and gave the company a “buy” rating in a research note on Thursday, July 11th. Seven investment analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $799.33.

Costco Wholesale 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.