GUNN & Co INVESTMENT MANAGEMENT INC. Raises Position in Costco Wholesale Co. (NASDAQ:COST)

GUNN & Co INVESTMENT MANAGEMENT INC. lifted its stake in shares of Costco Wholesale Co. (NASDAQ:COST) by 1,016.9% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 56,516 shares of the retailer’s stock after buying an additional 51,456 shares during the quarter. Costco Wholesale accounts for approximately 2.5% of GUNN & Co INVESTMENT MANAGEMENT INC.’s holdings, making the stock its 17th largest holding. GUNN & Co INVESTMENT MANAGEMENT INC.’s holdings in Costco Wholesale were worth $37,305,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Monument Capital Management grew its stake in shares of Costco Wholesale by 8.6% during the third quarter. Monument Capital Management now owns 528 shares of the retailer’s stock valued at $298,000 after acquiring an additional 42 shares in the last quarter. Cutler Investment Counsel LLC increased its holdings in Costco Wholesale by 0.8% during the 3rd quarter. Cutler Investment Counsel LLC now owns 2,662 shares of the retailer’s stock worth $1,504,000 after purchasing an additional 21 shares during the last quarter. Concord Wealth Partners raised its position in shares of Costco Wholesale by 132.7% in the 3rd quarter. Concord Wealth Partners now owns 1,945 shares of the retailer’s stock valued at $1,099,000 after purchasing an additional 1,109 shares in the last quarter. Everhart Financial Group Inc. boosted its stake in shares of Costco Wholesale by 9.4% during the 3rd quarter. Everhart Financial Group Inc. now owns 2,039 shares of the retailer’s stock valued at $1,152,000 after buying an additional 175 shares during the last quarter. Finally, Lindbrook Capital LLC grew its position in shares of Costco Wholesale by 2.9% during the third quarter. Lindbrook Capital LLC now owns 2,458 shares of the retailer’s stock worth $1,388,000 after buying an additional 69 shares in the last quarter. 68.48% of the stock is owned by institutional investors and hedge funds.

Costco Wholesale Trading Up 1.6 %

NASDAQ:COST opened at $743.90 on Friday. Costco Wholesale Co. has a 1 year low of $476.75 and a 1 year high of $787.08. The business has a fifty day moving average of $730.46 and a 200-day moving average of $671.71. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.43 and a current ratio of 0.93. The stock has a market cap of $329.92 billion, a price-to-earnings ratio of 48.65, a PEG ratio of 4.88 and a beta of 0.77.

Costco Wholesale (NASDAQ:COST) last announced its earnings results on Thursday, March 7th. The retailer reported $3.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.62 by $0.09. Costco Wholesale had a net margin of 2.73% and a return on equity of 28.80%. The firm had revenue of $58.44 billion during the quarter, compared to analyst estimates of $59.11 billion. During the same quarter in the prior year, the firm posted $3.30 EPS. Costco Wholesale’s revenue was up 5.7% compared to the same quarter last year. Equities analysts predict that Costco Wholesale Co. will post 15.84 earnings per share for the current 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 paid a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a dividend yield of 0.62%. The ex-dividend date of this dividend is Thursday, April 25th. This is a positive change from Costco Wholesale’s previous quarterly dividend of $1.02. Costco Wholesale’s dividend payout ratio (DPR) is currently 30.35%.

Wall Street Analyst Weigh In

COST has been the topic of a number of research analyst reports. DA Davidson reiterated a “neutral” rating and set a $680.00 price objective on shares of Costco Wholesale in a research note on Thursday, April 11th. Wells Fargo & Company lifted their price target on Costco Wholesale from $610.00 to $675.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 8th. Citigroup upped their price objective on Costco Wholesale from $630.00 to $710.00 and gave the company a “neutral” rating in a research note on Tuesday, April 23rd. Oppenheimer lifted their target price on Costco Wholesale from $760.00 to $805.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 5th. Finally, Evercore ISI upped their price target on Costco Wholesale from $795.00 to $805.00 and gave the company an “outperform” rating in a research report on Thursday, April 11th. Seven equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $694.48.

Insiders Place Their Bets

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

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.