McCarthy Asset Management Inc. Makes New $208,000 Investment in Costco Wholesale Co. (NASDAQ:COST)

McCarthy Asset Management Inc. acquired a new stake in Costco Wholesale Co. (NASDAQ:COST) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 315 shares of the retailer’s stock, valued at approximately $208,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Northern Trust Corp lifted its position in Costco Wholesale by 4.3% in the third quarter. Northern Trust Corp now owns 5,134,947 shares of the retailer’s stock valued at $2,901,040,000 after acquiring an additional 210,586 shares during the last quarter. International Assets Investment Management LLC increased its position in shares of Costco Wholesale by 61,693.5% during the fourth quarter. International Assets Investment Management LLC now owns 3,105,124 shares of the retailer’s stock worth $2,049,630,000 after purchasing an additional 3,100,099 shares in the last quarter. Wellington Management Group LLP lifted its holdings in shares of Costco Wholesale by 0.9% in the 3rd quarter. Wellington Management Group LLP now owns 2,689,514 shares of the retailer’s stock valued at $1,519,468,000 after purchasing an additional 24,274 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Costco Wholesale by 1.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,580,649 shares of the retailer’s stock valued at $1,457,964,000 after purchasing an additional 28,259 shares during the period. Finally, Invesco Ltd. grew its stake in Costco Wholesale by 18.3% during the 3rd quarter. Invesco Ltd. now owns 2,088,673 shares of the retailer’s stock worth $1,180,016,000 after buying an additional 323,346 shares during the last quarter. Institutional investors and hedge funds own 68.48% of the company’s stock.

Costco Wholesale Price Performance

Costco Wholesale stock traded up $7.32 during mid-day trading on Friday, reaching $729.18. The company had a trading volume of 1,524,431 shares, compared to its average volume of 1,663,722. The stock’s 50-day simple moving average is $730.41 and its 200-day simple moving average is $666.04. Costco Wholesale Co. has a 1 year low of $476.75 and a 1 year high of $787.08. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.93 and a quick ratio of 0.43. The company has a market capitalization of $323.39 billion, a P/E ratio of 47.69, a P/E/G ratio of 4.81 and a beta of 0.77.

Costco Wholesale (NASDAQ:COST) last announced its quarterly earnings results on Thursday, March 7th. The retailer reported $3.71 earnings per share for the quarter, beating analysts’ consensus estimates of $3.62 by $0.09. Costco Wholesale had a return on equity of 28.80% and a net margin of 2.73%. The business had revenue of $58.44 billion during the quarter, compared to analysts’ expectations of $59.11 billion. During the same quarter last year, the business posted $3.30 earnings per share. The business’s revenue for the quarter was up 5.7% on a year-over-year basis. On average, equities analysts predict that Costco Wholesale Co. will post 15.84 EPS for the current year.

Costco Wholesale Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 10th. Shareholders of record on Friday, April 26th will be issued a $1.16 dividend. This represents a $4.64 annualized dividend and a dividend yield of 0.64%. The ex-dividend date of this dividend is Thursday, April 25th. This is an increase from Costco Wholesale’s previous quarterly dividend of $1.02. Costco Wholesale’s dividend payout ratio is 30.35%.

Insider Transactions at Costco Wholesale

In related news, Director Susan L. Decker sold 1,442 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $723.48, for a total value of $1,043,258.16. Following the sale, the director now owns 12,395 shares of the company’s stock, valued at approximately $8,967,534.60. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Costco Wholesale news, Director Susan L. Decker sold 1,442 shares of the company’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $723.48, for a total value of $1,043,258.16. Following the transaction, the director now directly owns 12,395 shares in the company, valued at approximately $8,967,534.60. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Claudine Adamo sold 1,500 shares of Costco Wholesale stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $714.83, for a total transaction of $1,072,245.00. Following the sale, the executive vice president now owns 6,695 shares of the company’s stock, valued at $4,785,786.85. The disclosure for this sale can be found here. Insiders sold a total of 3,727 shares of company stock valued at $2,682,948 in the last ninety days. Corporate insiders own 0.18% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on COST. Loop Capital cut their target price on shares of Costco Wholesale from $830.00 to $820.00 and set a “buy” rating on the stock in a report on Thursday, April 11th. DA Davidson restated a “neutral” rating and issued a $680.00 price objective on shares of Costco Wholesale in a research note on Thursday, April 11th. The Goldman Sachs Group upped their target price on shares of Costco Wholesale from $665.00 to $749.00 and gave the company a “buy” rating in a report on Thursday, February 8th. Telsey Advisory Group reissued an “outperform” rating and set a $800.00 price target on shares of Costco Wholesale in a report on Thursday, April 11th. Finally, Roth Mkm upped their price objective on Costco Wholesale from $601.00 to $650.00 and gave the company a “neutral” rating in a research note on Thursday, April 11th. Seven research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat, Costco Wholesale has a consensus rating of “Moderate Buy” and an average target price of $694.48.

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.