Howard Capital Management Group LLC Sells 723 Shares of Costco Wholesale Co. (NASDAQ:COST)

Howard Capital Management Group LLC decreased its holdings in Costco Wholesale Co. (NASDAQ:COST) by 1.3% in the first quarter, HoldingsChannel reports. The institutional investor owned 57,088 shares of the retailer’s stock after selling 723 shares during the period. Costco Wholesale makes up 4.2% of Howard Capital Management Group LLC’s portfolio, making the stock its 6th biggest position. Howard Capital Management Group LLC’s holdings in Costco Wholesale were worth $53,993,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. GAMMA Investing LLC raised its stake in Costco Wholesale by 106,402.1% during the first quarter. GAMMA Investing LLC now owns 8,160,190 shares of the retailer’s stock worth $7,717,744,000 after acquiring an additional 8,152,528 shares in the last quarter. Norges Bank acquired a new stake in shares of Costco Wholesale during the 4th quarter worth about $5,182,316,000. Proficio Capital Partners LLC lifted its holdings in Costco Wholesale by 74,796.3% during the 4th quarter. Proficio Capital Partners LLC now owns 1,521,893 shares of the retailer’s stock valued at $1,394,465,000 after purchasing an additional 1,519,861 shares during the last quarter. Leigh Baldwin & CO. LLC acquired a new position in Costco Wholesale in the fourth quarter valued at about $95,452,000. Finally, Northern Trust Corp grew its stake in Costco Wholesale by 12.6% during the fourth quarter. Northern Trust Corp now owns 5,257,809 shares of the retailer’s stock worth $4,817,573,000 after buying an additional 587,303 shares during the last quarter. 68.48% of the stock is owned by institutional investors.

Analyst Ratings Changes

COST has been the subject of a number of research analyst reports. Cowen reiterated a “buy” rating on shares of Costco Wholesale in a research note on Friday, March 7th. Sanford C. Bernstein reiterated an “outperform” rating on shares of Costco Wholesale in a research report on Friday, March 7th. Morgan Stanley boosted their price objective on Costco Wholesale from $1,150.00 to $1,225.00 and gave the stock an “overweight” rating in a research note on Friday, May 30th. Evercore ISI lifted their price target on Costco Wholesale from $1,070.00 to $1,075.00 and gave the company an “outperform” rating in a report on Thursday, May 29th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Costco Wholesale from $1,065.00 to $1,070.00 and gave the stock an “overweight” rating in a 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 company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,035.32.

Insider Buying and Selling at Costco Wholesale

In related news, EVP Patrick J. Callans sold 3,000 shares of the business’s stock in a transaction on Monday, June 9th. The shares were sold at an average price of $1,002.77, for a total value of $3,008,310.00. Following the sale, the executive vice president now directly owns 58,543 shares of the company’s stock, valued at approximately $58,705,164.11. The trade was a 4.87% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Pierre Riel sold 2,000 shares of the company’s stock in a transaction on 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 directly owns 8,210 shares of the company’s stock, valued at approximately $8,326,171.50. The trade was 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 valued at $10,825,205. Company insiders own 0.18% of the company’s stock.

Costco Wholesale Stock Up 0.6%

Shares of Costco Wholesale stock opened at $1,002.71 on Friday. The business has a fifty day simple moving average of $998.80 and a 200 day simple moving average of $980.70. The stock has a market cap of $444.68 billion, a PE ratio of 58.88, a price-to-earnings-growth ratio of 6.15 and a beta of 1.00. The company has a quick ratio of 0.43, a current ratio of 0.98 and a debt-to-equity ratio of 0.23. Costco Wholesale Co. has a 12 month low of $793.00 and a 12 month high of $1,078.24.

Costco Wholesale (NASDAQ:COST) last issued its quarterly earnings data on Thursday, May 29th. The retailer reported $4.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.24 by $0.04. Costco Wholesale had a net margin of 2.93% and a return on equity of 32.31%. The firm had revenue of $63.21 billion during the quarter, compared to analysts’ expectations of $62.93 billion. During the same quarter in the previous year, the company earned $3.78 earnings per share. The business’s revenue for the quarter was up 8.0% on a year-over-year basis. Research analysts predict that Costco Wholesale Co. will post 18.03 EPS for the current year.

Costco Wholesale Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 16th. Shareholders of record on Friday, May 2nd were paid a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 0.52%. This is a boost from Costco Wholesale’s previous quarterly dividend of $1.16. The ex-dividend date was Friday, May 2nd. Costco Wholesale’s payout ratio is presently 29.50%.

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.