Costco Wholesale Corporation (NASDAQ:COST) Stake Cut by Riggs Asset Managment Co. Inc.

Riggs Asset Managment Co. Inc. cut its position in shares of Costco Wholesale Corporation (NASDAQ:COST) by 16.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 326 shares of the retailer’s stock after selling 63 shares during the period. Riggs Asset Managment Co. Inc.’s holdings in Costco Wholesale were worth $308,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in COST. Investment Management Corp VA ADV purchased a new stake in shares of Costco Wholesale during the 4th quarter worth about $25,000. Clear Investment Research LLC raised its stake in shares of Costco Wholesale by 22.2% during the 4th quarter. Clear Investment Research LLC now owns 55 shares of the retailer’s stock worth $51,000 after purchasing an additional 10 shares in the last quarter. Aspect Partners LLC raised its stake in shares of Costco Wholesale by 24.4% during the 1st quarter. Aspect Partners LLC now owns 56 shares of the retailer’s stock worth $53,000 after purchasing an additional 11 shares in the last quarter. Capital A Wealth Management LLC purchased a new stake in shares of Costco Wholesale during the 4th quarter worth about $58,000. Finally, Mascagni Wealth Management Inc. purchased a new stake in shares of Costco Wholesale during the 4th quarter worth about $59,000. 68.48% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Costco Wholesale

In other news, EVP James C. Klauer sold 4,000 shares of Costco Wholesale stock in a transaction that occurred on Thursday, April 17th. The stock was sold at an average price of $981.07, for a total transaction of $3,924,280.00. Following the sale, the executive vice president owned 43,994 shares of the company’s stock, valued at approximately $43,161,193.58. This trade represents a 8.33% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Susan L. Decker sold 547 shares of Costco Wholesale stock in a transaction that occurred on Wednesday, June 18th. The stock was sold at an average price of $980.00, for a total value of $536,060.00. Following the sale, the director directly owned 11,531 shares in the company, valued at $11,300,380. The trade was a 4.53% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 9,547 shares of company stock worth $9,496,950 over the last quarter. 0.18% of the stock is owned by company insiders.

Analyst Ratings Changes

COST has been the subject of a number of recent research reports. Morgan Stanley raised their price target 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. Stifel Nicolaus set a $1,035.00 price target on Costco Wholesale in a research note on Thursday, May 29th. Mizuho initiated coverage on Costco Wholesale in a research note on Friday, April 11th. They issued a “neutral” rating and a $975.00 price objective on the stock. Loop Capital cut their price objective on Costco Wholesale from $1,115.00 to $1,110.00 and set a “buy” rating on the stock in a research note on Thursday, May 29th. Finally, Evercore ISI cut their price objective on Costco Wholesale from $1,075.00 to $1,060.00 and set an “outperform” rating on the stock in a research note on Tuesday, June 17th. Nine investment analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Costco Wholesale has an average rating of “Moderate Buy” and a consensus target price of $1,034.79.

Costco Wholesale Stock Performance

COST opened at $986.27 on Friday. The firm has a market capitalization of $437.39 billion, a P/E ratio of 55.94, a price-to-earnings-growth ratio of 6.14 and a beta of 0.97. The stock’s 50 day moving average price is $1,005.20 and its two-hundred day moving average price is $981.20. The company has a quick ratio of 0.52, a current ratio of 1.02 and a debt-to-equity ratio of 0.21. Costco Wholesale Corporation has a 12-month low of $793.00 and a 12-month high of $1,078.24.

Costco Wholesale (NASDAQ:COST) last announced its quarterly earnings data on Thursday, May 29th. The retailer reported $4.28 earnings per share for the quarter, topping the consensus estimate of $4.24 by $0.04. Costco Wholesale had a return on equity of 30.48% and a net margin of 2.92%. The company had revenue of $63.21 billion for the quarter, compared to analyst estimates of $62.93 billion. During the same quarter last year, the firm earned $3.78 EPS. Costco Wholesale’s revenue for the quarter was up 8.0% compared to the same quarter last year. On average, equities analysts forecast that Costco Wholesale Corporation will post 18.03 earnings per share for the current year.

Costco Wholesale Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 16th. Stockholders of record on Friday, May 2nd were issued a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 0.53%. The ex-dividend date of this dividend was Friday, May 2nd. This is a positive change from Costco Wholesale’s previous quarterly dividend of $1.16. Costco Wholesale’s dividend payout ratio (DPR) 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.