Blue Chip Partners LLC Buys 1,340 Shares of Costco Wholesale Co. (NASDAQ:COST)

Blue Chip Partners LLC increased its holdings in Costco Wholesale Co. (NASDAQ:COST) by 4.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 34,269 shares of the retailer’s stock after buying an additional 1,340 shares during the period. Costco Wholesale accounts for 2.4% of Blue Chip Partners LLC’s holdings, making the stock its 15th largest position. Blue Chip Partners LLC’s holdings in Costco Wholesale were worth $22,620,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Richelieu Gestion SA bought a new stake in shares of Costco Wholesale in the fourth quarter worth $25,000. Morton Brown Family Wealth LLC raised its holdings 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 acquiring an additional 30 shares during the last quarter. Wetzel Investment Advisors Inc. acquired a new stake in shares of Costco Wholesale in the 4th quarter worth about $30,000. Steph & Co. increased its stake in Costco Wholesale by 42.3% in the 3rd quarter. Steph & Co. now owns 74 shares of the retailer’s stock valued at $42,000 after buying an additional 22 shares during the last quarter. Finally, Valued Wealth Advisors LLC purchased a new stake in Costco Wholesale in the 4th quarter valued at about $49,000. 68.48% of the stock is currently owned by institutional investors and hedge funds.

Costco Wholesale Price Performance

Shares of NASDAQ:COST traded up $7.32 on Friday, reaching $729.18. The company’s stock had a trading volume of 1,524,431 shares, compared to its average volume of 1,663,722. The company has a 50-day simple moving average of $730.41 and a 200 day simple moving average of $667.48. The company has a market cap of $323.39 billion, a P/E ratio of 47.69, a PEG ratio of 4.86 and a beta of 0.77. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.43 and a current ratio of 0.93. Costco Wholesale Co. has a 52-week low of $476.75 and a 52-week high of $787.08.

Costco Wholesale (NASDAQ:COST) last released its earnings results on Thursday, March 7th. The retailer reported $3.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.62 by $0.09. The firm had revenue of $58.44 billion during the quarter, compared to analyst estimates of $59.11 billion. Costco Wholesale had a net margin of 2.73% and a return on equity of 28.80%. The business’s revenue was up 5.7% on a year-over-year basis. During the same quarter last year, the business earned $3.30 EPS. As a group, equities research analysts anticipate that Costco Wholesale Co. will post 15.84 EPS for the current fiscal year.

Costco Wholesale Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 10th. Investors of record on Friday, April 26th will be issued a dividend of $1.16 per share. This is a positive change from Costco Wholesale’s previous quarterly dividend of $1.02. The ex-dividend date is Thursday, April 25th. This represents a $4.64 dividend on an annualized basis and a yield of 0.64%. Costco Wholesale’s dividend payout ratio (DPR) is presently 30.35%.

Insider Activity at Costco Wholesale

In related news, EVP Russell D. Miller sold 785 shares of Costco Wholesale 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 completion of the sale, the executive vice president now owns 10,000 shares in the company, valued at approximately $7,228,600. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, EVP Claudine Adamo sold 1,500 shares of Costco Wholesale stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $714.83, for a total value of $1,072,245.00. Following the transaction, the executive vice president now owns 6,695 shares of the company’s stock, valued at approximately $4,785,786.85. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Russell D. Miller sold 785 shares of the business’s stock in a transaction that occurred on Wednesday, April 17th. The stock was sold at an average price of $722.86, for a total transaction of $567,445.10. Following the sale, the executive vice president now directly owns 10,000 shares in the company, valued at approximately $7,228,600. The disclosure for this sale can be found here. Insiders sold 3,727 shares of company stock worth $2,682,948 in the last 90 days. 0.18% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have commented on COST. DA Davidson reiterated a “neutral” rating and issued a $680.00 price objective on shares of Costco Wholesale in a research note on Thursday, April 11th. StockNews.com lowered shares of Costco Wholesale from a “buy” rating to a “hold” rating in a research note on Friday, April 12th. Telsey Advisory Group reiterated an “outperform” rating and issued a $800.00 price objective on shares of Costco Wholesale in a research note on Thursday, April 11th. Loop Capital decreased their price objective on shares of Costco Wholesale from $830.00 to $820.00 and set a “buy” rating for the company in a research note on Thursday, April 11th. Finally, Evercore ISI increased their target price on shares of Costco Wholesale from $795.00 to $805.00 and gave the company an “outperform” rating in a research report on Thursday, April 11th. Seven analysts have rated the stock with a hold rating and eighteen have given 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 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.