Costco Wholesale Co. (NASDAQ:COST) Shares Sold by Argus Investors Counsel Inc.

Argus Investors Counsel Inc. cut its position in Costco Wholesale Co. (NASDAQ:COST) by 4.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,357 shares of the retailer’s stock after selling 347 shares during the period. Costco Wholesale accounts for approximately 3.3% of Argus Investors Counsel Inc.’s investment portfolio, making the stock its 3rd biggest holding. Argus Investors Counsel Inc.’s holdings in Costco Wholesale were worth $5,390,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in COST. Richelieu Gestion SA acquired a new position in Costco Wholesale during the 4th quarter valued at about $25,000. Frank Rimerman Advisors LLC acquired a new position in Costco Wholesale during the 4th quarter valued at about $26,000. Morton Brown Family Wealth LLC boosted its stake in shares of Costco Wholesale by 200.0% in the 4th quarter. Morton Brown Family Wealth LLC now owns 45 shares of the retailer’s stock worth $30,000 after buying an additional 30 shares during the last quarter. Wetzel Investment Advisors Inc. purchased a new position in shares of Costco Wholesale in the 4th quarter worth approximately $30,000. Finally, Redmont Wealth Advisors LLC purchased a new position in shares of Costco Wholesale in the 1st quarter worth approximately $32,000. 68.48% of the stock is currently owned by institutional investors and hedge funds.

Costco Wholesale Price Performance

Shares of Costco Wholesale stock traded down $5.52 during trading on Thursday, hitting $796.34. The stock had a trading volume of 1,518,522 shares, compared to its average volume of 1,974,146. The firm has a market cap of $353.18 billion, a price-to-earnings ratio of 52.08, a P/E/G ratio of 5.33 and a beta of 0.77. Costco Wholesale Co. has a 12 month low of $476.75 and a 12 month high of $808.05. The business’s 50-day moving average is $740.99 and its 200 day moving average is $693.83. The company has a current ratio of 0.93, a quick ratio of 0.43 and a debt-to-equity ratio of 0.28.

Costco Wholesale (NASDAQ:COST) last released its quarterly earnings results on Thursday, March 7th. The retailer reported $3.71 earnings per share for the quarter, topping the consensus estimate of $3.62 by $0.09. The firm had revenue of $58.44 billion for the quarter, compared to analysts’ expectations of $59.11 billion. Costco Wholesale had a net margin of 2.73% and a return on equity of 28.80%. The business’s quarterly revenue was up 5.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.30 earnings per share. As a group, sell-side analysts anticipate that Costco Wholesale Co. will post 15.84 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 issued a $1.16 dividend. The ex-dividend date of this dividend was Thursday, April 25th. This represents a $4.64 annualized dividend and a dividend yield of 0.58%. This is a boost from Costco Wholesale’s previous quarterly dividend of $1.02. Costco Wholesale’s dividend payout ratio is presently 30.35%.

Insider Transactions at Costco Wholesale

In related news, EVP Russell D. Miller sold 785 shares of the company’s stock in a transaction on Wednesday, April 17th. The shares were sold at an average price of $722.86, for a total value of $567,445.10. Following the completion of the transaction, the executive vice president now directly owns 10,000 shares in the company, valued at $7,228,600. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Costco Wholesale news, EVP Claudine Adamo sold 1,500 shares of the company’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $714.83, for a total transaction of $1,072,245.00. Following the completion of the sale, the executive vice president now directly owns 6,695 shares in the company, valued at $4,785,786.85. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Russell D. Miller sold 785 shares of the company’s stock in a transaction dated Wednesday, April 17th. The shares were sold at an average price of $722.86, for a total transaction of $567,445.10. Following the sale, the executive vice president now owns 10,000 shares of the company’s stock, valued at $7,228,600. The disclosure for this sale can be found here. Insiders own 0.18% of the company’s stock.

Analysts Set New Price Targets

COST has been the topic of a number of research analyst reports. DA Davidson restated a “neutral” rating and issued a $680.00 target price on shares of Costco Wholesale in a research note on Thursday, April 11th. Gordon Haskett downgraded Costco Wholesale from a “buy” rating to an “accumulate” rating and set a $775.00 target price on the stock. in a research note on Wednesday, April 3rd. Loop Capital cut their target price on Costco Wholesale from $830.00 to $820.00 and set a “buy” rating on the stock in a research note on Thursday, April 11th. The Goldman Sachs Group boosted their target price on Costco Wholesale from $665.00 to $749.00 and gave the stock a “buy” rating in a research note on Thursday, February 8th. Finally, Evercore ISI lifted their price target on shares of Costco Wholesale from $810.00 to $820.00 and gave the stock an “outperform” rating in a report on Tuesday, May 14th. Six investment analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Costco Wholesale presently has a consensus rating of “Moderate Buy” and an average price target of $696.88.

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.