Marcum Wealth LLC Sells 46 Shares of Costco Wholesale Co. (NASDAQ:COST)

Marcum Wealth LLC reduced its position in shares of Costco Wholesale Co. (NASDAQ:COST) by 5.2% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 834 shares of the retailer’s stock after selling 46 shares during the period. Marcum Wealth LLC’s holdings in Costco Wholesale were worth $611,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Richelieu Gestion SA bought a new position in Costco Wholesale during the 4th quarter valued at about $25,000. Frank Rimerman Advisors LLC bought a new position in Costco Wholesale during the 4th quarter valued at about $26,000. Morton Brown Family Wealth LLC lifted its holdings in Costco Wholesale by 200.0% during the 4th quarter. Morton Brown Family Wealth LLC now owns 45 shares of the retailer’s stock valued at $30,000 after purchasing an additional 30 shares during the last quarter. Wetzel Investment Advisors Inc. bought a new position in shares of Costco Wholesale in the fourth quarter worth about $30,000. Finally, Vima LLC bought a new position in shares of Costco Wholesale in the fourth quarter worth about $34,000. 68.48% of the stock is owned by institutional investors.

Insider Transactions at Costco Wholesale

In other news, EVP Russell D. Miller sold 785 shares of the firm’s 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 transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.18% of the stock is currently owned by corporate insiders.

Costco Wholesale Stock Performance

NASDAQ COST opened at $848.31 on Friday. The firm has a 50-day moving average of $788.13 and a 200-day moving average of $730.83. 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 stock has a market cap of $376.08 billion, a PE ratio of 52.56, a P/E/G ratio of 5.70 and a beta of 0.79. Costco Wholesale Co. has a 52-week low of $519.34 and a 52-week high of $873.96.

Costco Wholesale (NASDAQ:COST) last posted 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. The company had revenue of $58.52 billion during the quarter, compared to analysts’ expectations of $58.16 billion. Costco Wholesale had a net margin of 2.83% and a return on equity of 30.02%. Costco Wholesale’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same quarter last year, the company posted $3.43 EPS. On average, sell-side analysts anticipate that Costco Wholesale Co. will post 15.98 EPS for the current year.

Costco Wholesale Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 10th. Stockholders of record on Friday, April 26th were paid a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date was Thursday, April 25th. This is a boost from Costco Wholesale’s previous quarterly dividend of $1.02. Costco Wholesale’s dividend payout ratio (DPR) is currently 28.75%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Gordon Haskett lowered shares of Costco Wholesale from a “buy” rating to an “accumulate” rating and set a $775.00 target price on the stock. in a research report on Wednesday, April 3rd. Barclays upped their target price on shares of Costco Wholesale from $700.00 to $765.00 and gave the stock an “equal weight” rating in a research report on Friday, May 31st. Argus upped their target price 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. Stifel Nicolaus upped their target price on shares of Costco Wholesale from $800.00 to $850.00 and gave the stock a “buy” rating in a research report on Friday, May 31st. Finally, BMO Capital Markets reiterated an “outperform” rating and set a $875.00 target price (up from $800.00) on shares of Costco Wholesale in a research report on Friday, May 31st. Seven investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $752.96.

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.