SMI Advisory Services LLC Takes Position in Costco Wholesale Co. (NASDAQ:COST)

SMI Advisory Services LLC acquired a new stake in shares of Costco Wholesale Co. (NASDAQ:COST) in the 1st quarter, Holdings Channel.com reports. The institutional investor acquired 5,294 shares of the retailer’s stock, valued at approximately $3,804,000.

Other hedge funds have also recently made changes to their positions in the company. Richelieu Gestion SA purchased a new stake in Costco Wholesale during the fourth quarter valued at approximately $25,000. Frank Rimerman Advisors LLC purchased a new stake in Costco Wholesale during the fourth quarter valued at approximately $26,000. Morton Brown Family Wealth LLC boosted its position in shares of Costco Wholesale by 200.0% in the fourth quarter. Morton Brown Family Wealth LLC now owns 45 shares of the retailer’s stock worth $30,000 after purchasing an additional 30 shares during the period. Wetzel Investment Advisors Inc. bought a new position in shares of Costco Wholesale in the fourth quarter worth approximately $30,000. Finally, Vima LLC bought a new position in shares of Costco Wholesale in the fourth quarter worth approximately $34,000. 68.48% of the stock is owned by hedge funds and other institutional investors.

Costco Wholesale Trading Up 0.1 %

NASDAQ:COST opened at $857.79 on Thursday. Costco Wholesale Co. has a one year low of $524.63 and a one year high of $873.96. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.45 and a current ratio of 0.94. The firm has a market cap of $380.28 billion, a P/E ratio of 53.09, a P/E/G ratio of 5.66 and a beta of 0.79. The firm has a 50-day simple moving average of $793.52 and a 200-day simple moving average of $735.97.

Costco Wholesale (NASDAQ:COST) last posted its quarterly earnings results on Thursday, May 30th. The retailer reported $3.78 EPS for the quarter, beating the consensus estimate of $3.70 by $0.08. Costco Wholesale had a net margin of 2.83% and a return on equity of 30.02%. The business had revenue of $58.52 billion during the quarter, compared to analyst estimates of $58.16 billion. During the same quarter in the previous year, the business posted $3.43 EPS. The company’s quarterly revenue was up 9.1% compared to the same quarter last year. Equities analysts anticipate that Costco Wholesale Co. will post 15.98 EPS for the current fiscal year.

Costco Wholesale Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 10th. Stockholders of record on Friday, April 26th were given a $1.16 dividend. The ex-dividend date of this dividend was Thursday, April 25th. This represents a $4.64 dividend on an annualized basis and a dividend yield of 0.54%. This is an increase from Costco Wholesale’s previous quarterly dividend of $1.02. Costco Wholesale’s payout ratio is presently 28.75%.

Insider Transactions at Costco Wholesale

In other news, EVP Russell D. Miller sold 785 shares of Costco Wholesale stock in a transaction that occurred on Wednesday, April 17th. The shares were sold at an average price of $722.86, for a total value of $567,445.10. Following the transaction, the executive vice president now owns 10,000 shares of the company’s stock, valued at approximately $7,228,600. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.18% of the company’s stock.

Analysts Set New Price Targets

COST has been the subject of a number of recent analyst reports. BMO Capital Markets reiterated an “outperform” rating and issued a $875.00 price target (up from $800.00) on shares of Costco Wholesale in a research report on Friday, May 31st. Oppenheimer upped their price target on shares of Costco Wholesale from $850.00 to $905.00 and gave the stock an “outperform” rating in a research report on Thursday, June 6th. StockNews.com upgraded shares of Costco Wholesale from a “hold” rating to a “buy” rating in a research report on Sunday, June 2nd. Argus upped their price target on shares of Costco Wholesale from $805.00 to $900.00 and gave the stock a “buy” rating in a research report on Tuesday, May 28th. Finally, Roth Mkm reiterated a “neutral” rating and issued a $676.00 price target (up from $650.00) on shares of Costco Wholesale in a research report on Friday, May 31st. Seven equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $756.85.

About Costco Wholesale

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.