Azimuth Capital Investment Management LLC Sells 210 Shares of Costco Wholesale Co. (NASDAQ:COST)

Azimuth Capital Investment Management LLC lessened its stake in Costco Wholesale Co. (NASDAQ:COSTFree Report) by 0.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 32,296 shares of the retailer’s stock after selling 210 shares during the quarter. Costco Wholesale comprises 1.0% of Azimuth Capital Investment Management LLC’s investment portfolio, making the stock its 21st biggest position. Azimuth Capital Investment Management LLC’s holdings in Costco Wholesale were worth $21,318,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Richelieu Gestion SA acquired a new stake in Costco Wholesale in the fourth quarter valued at about $25,000. Frank Rimerman Advisors LLC bought a new stake in shares of Costco Wholesale during the 4th quarter valued at approximately $26,000. Morton Brown Family Wealth LLC increased its position in Costco Wholesale by 200.0% during the 4th quarter. Morton Brown Family Wealth LLC now owns 45 shares of the retailer’s stock worth $30,000 after purchasing an additional 30 shares in the last quarter. Wetzel Investment Advisors Inc. bought a new position in Costco Wholesale in the 4th quarter valued at approximately $30,000. Finally, DSM Capital Partners LLC acquired a new stake in Costco Wholesale in the fourth quarter valued at approximately $36,000. 68.48% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently weighed in on COST. Wells Fargo & Company boosted their price objective on Costco Wholesale from $750.00 to $775.00 and gave the stock an “equal weight” rating in a research report on Friday, May 31st. Evercore ISI upped their price objective on Costco Wholesale from $845.00 to $860.00 and gave the company an “outperform” rating in a research note on Friday, May 31st. DA Davidson reiterated a “neutral” rating and issued a $680.00 price objective on shares of Costco Wholesale in a report on Thursday, April 11th. Barclays boosted their target price on shares of Costco Wholesale from $700.00 to $765.00 and gave the stock an “equal weight” rating in a report on Friday, May 31st. Finally, Truist Financial raised their price target on shares of Costco Wholesale from $815.00 to $873.00 and gave the company a “buy” rating in a research note on Friday, May 31st. Seven research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $750.00.

Get Our Latest Stock Report on Costco Wholesale

Insider Buying and Selling at Costco Wholesale

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

Costco Wholesale Stock Up 0.3 %

COST stock traded up $2.94 during trading on Friday, reaching $845.58. 1,593,589 shares of the stock were exchanged, compared to its average volume of 1,755,104. The firm’s 50 day moving average is $760.25 and its 200 day moving average is $712.43. The firm has a market cap of $375.01 billion, a P/E ratio of 52.39, a price-to-earnings-growth ratio of 5.57 and a beta of 0.79. The company has a current ratio of 0.94, a quick ratio of 0.43 and a debt-to-equity ratio of 0.27. Costco Wholesale Co. has a twelve month low of $512.50 and a twelve month high of $850.38.

Costco Wholesale (NASDAQ:COSTGet Free Report) last issued its earnings results on Thursday, May 30th. The retailer reported $3.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.70 by $0.08. Costco Wholesale had a return on equity of 30.02% and a net margin of 2.83%. The company had revenue of $58.52 billion for the quarter, compared to analysts’ expectations of $58.16 billion. During the same period last year, the business earned $3.43 EPS. Costco Wholesale’s quarterly revenue was up 9.1% compared to the same quarter last year. As a group, research analysts forecast that Costco Wholesale Co. will post 15.97 EPS for the current year.

Costco Wholesale Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 10th. Investors of record on Friday, April 26th were given a $1.16 dividend. This is a boost from Costco Wholesale’s previous quarterly dividend of $1.02. The ex-dividend date of this dividend was Thursday, April 25th. This represents a $4.64 annualized dividend and a yield of 0.55%. Costco Wholesale’s dividend payout ratio (DPR) is presently 28.75%.

Costco Wholesale Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Costco Wholesale (NASDAQ:COST)

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