Costco Wholesale Corporation (NASDAQ:COST) Shares Purchased by Pinnacle Financial Partners Inc

Pinnacle Financial Partners Inc boosted its holdings in Costco Wholesale Corporation (NASDAQ:COST) by 3.1% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 39,673 shares of the retailer’s stock after acquiring an additional 1,207 shares during the period. Costco Wholesale comprises about 0.8% of Pinnacle Financial Partners Inc’s investment portfolio, making the stock its 24th biggest holding. Pinnacle Financial Partners Inc’s holdings in Costco Wholesale were worth $37,441,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of COST. Miramar Capital LLC boosted its holdings in shares of Costco Wholesale by 1.9% during the fourth quarter. Miramar Capital LLC now owns 525 shares of the retailer’s stock worth $481,000 after acquiring an additional 10 shares during the period. Clear Investment Research LLC boosted its stake in Costco Wholesale by 22.2% in the 4th quarter. Clear Investment Research LLC now owns 55 shares of the retailer’s stock valued at $51,000 after purchasing an additional 10 shares during the period. Peninsula Wealth LLC grew its holdings in Costco Wholesale by 1.2% in the 4th quarter. Peninsula Wealth LLC now owns 818 shares of the retailer’s stock valued at $749,000 after buying an additional 10 shares in the last quarter. Bosun Asset Management LLC increased its position in Costco Wholesale by 1.6% during the 4th quarter. Bosun Asset Management LLC now owns 636 shares of the retailer’s stock worth $583,000 after buying an additional 10 shares during the period. Finally, Lifeworks Advisors LLC lifted its holdings in shares of Costco Wholesale by 1.2% during the fourth quarter. Lifeworks Advisors LLC now owns 895 shares of the retailer’s stock worth $820,000 after buying an additional 11 shares in the last quarter. 68.48% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Costco Wholesale news, EVP James C. Klauer sold 4,000 shares of the stock in a transaction that occurred on Thursday, April 17th. The stock was sold at an average price of $981.07, for a total value of $3,924,280.00. Following the completion of the sale, the executive vice president owned 43,994 shares in the company, valued at approximately $43,161,193.58. This trade represents a 8.33% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Patrick J. Callans sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $1,002.77, for a total value of $3,008,310.00. Following the transaction, the executive vice president directly owned 58,543 shares in the company, valued at $58,705,164.11. This trade represents a 4.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 9,547 shares of company stock worth $9,496,950 in the last quarter. 0.18% of the stock is currently owned by company insiders.

Costco Wholesale Stock Performance

Shares of COST stock opened at $982.36 on Thursday. The company has a market capitalization of $435.66 billion, a P/E ratio of 55.72, a PEG ratio of 6.13 and a beta of 0.97. Costco Wholesale Corporation has a fifty-two week low of $793.00 and a fifty-two week high of $1,078.24. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.52 and a current ratio of 1.02. The stock has a 50 day moving average price of $1,004.80 and a two-hundred day moving average price of $981.10.

Costco Wholesale (NASDAQ:COST) last posted its quarterly earnings results on Thursday, May 29th. The retailer reported $4.28 EPS for the quarter, beating analysts’ consensus estimates of $4.24 by $0.04. The company had revenue of $63.21 billion during the quarter, compared to analyst estimates of $62.93 billion. Costco Wholesale had a net margin of 2.92% and a return on equity of 30.48%. The firm’s revenue was up 8.0% compared to the same quarter last year. During the same period in the prior year, the business posted $3.78 EPS. Analysts expect that Costco Wholesale Corporation will post 18.03 earnings per share for the current year.

Costco Wholesale Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 16th. Stockholders of record on Friday, May 2nd were issued a dividend of $1.30 per share. This is a positive change from Costco Wholesale’s previous quarterly dividend of $1.16. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.53%. The ex-dividend date of this dividend was Friday, May 2nd. Costco Wholesale’s dividend payout ratio is currently 29.50%.

Analyst Ratings Changes

Several research firms have recently issued reports on COST. Cfra Research raised Costco Wholesale from a “hold” rating to a “moderate buy” rating in a report on Friday, April 4th. Cowen restated a “buy” rating on shares of Costco Wholesale in a research report on Friday, March 7th. Evercore ISI reduced their target price on Costco Wholesale from $1,075.00 to $1,060.00 and set an “outperform” rating on the stock in a report on Tuesday, June 17th. Barclays boosted their price target on Costco Wholesale from $940.00 to $980.00 and gave the stock an “equal weight” rating in a report on Monday, March 10th. Finally, Mizuho initiated coverage on Costco Wholesale in a research note on Friday, April 11th. They issued a “neutral” rating and a $975.00 price objective on the stock. Nine investment analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company’s stock. According to data from MarketBeat, Costco Wholesale currently has an average rating of “Moderate Buy” and an average price target of $1,034.79.

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.