Morse Asset Management Inc Has $5.29 Million Position in Costco Wholesale Co. (NASDAQ:COST)

Morse Asset Management Inc lessened its holdings in shares of Costco Wholesale Co. (NASDAQ:COST) by 3.9% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 6,227 shares of the retailer’s stock after selling 253 shares during the period. Costco Wholesale accounts for about 1.3% of Morse Asset Management Inc’s portfolio, making the stock its 24th largest position. Morse Asset Management Inc’s holdings in Costco Wholesale were worth $5,293,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Gilbert & Cook Inc. increased its holdings in shares of Costco Wholesale by 57.3% in the fourth quarter. Gilbert & Cook Inc. now owns 626 shares of the retailer’s stock valued at $413,000 after purchasing an additional 228 shares in the last quarter. Aveo Capital Partners LLC raised its position in shares of Costco Wholesale by 14.5% during the fourth quarter. Aveo Capital Partners LLC now owns 1,065 shares of the retailer’s stock worth $703,000 after acquiring an additional 135 shares during the last quarter. Gryphon Financial Partners LLC raised its position in shares of Costco Wholesale by 62.6% during the fourth quarter. Gryphon Financial Partners LLC now owns 3,309 shares of the retailer’s stock worth $2,184,000 after acquiring an additional 1,274 shares during the last quarter. TrinityPoint Wealth LLC lifted its stake in shares of Costco Wholesale by 15.5% during the fourth quarter. TrinityPoint Wealth LLC now owns 2,475 shares of the retailer’s stock valued at $1,633,000 after acquiring an additional 332 shares during the period. Finally, DSM Capital Partners LLC bought a new position in Costco Wholesale in the fourth quarter valued at about $36,000. 68.48% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Costco Wholesale

In related news, insider Daniel M. Hines sold 1,500 shares of the stock in a transaction on Friday, July 12th. The shares were sold at an average price of $844.20, for a total transaction of $1,266,300.00. Following the completion of the transaction, the insider now owns 12,492 shares in the company, valued at $10,545,746.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Costco Wholesale news, Director Kenneth D. Denman sold 350 shares of the firm’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $851.53, for a total value of $298,035.50. Following the completion of the transaction, the director now directly owns 5,920 shares in the company, valued at $5,041,057.60. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Daniel M. Hines sold 1,500 shares of the company’s stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $844.20, for a total value of $1,266,300.00. Following the sale, the insider now owns 12,492 shares in the company, valued at approximately $10,545,746.40. The disclosure for this sale can be found here. Insiders sold 4,974 shares of company stock valued at $4,252,856 in the last ninety days. 0.18% of the stock is currently owned by corporate insiders.

Costco Wholesale Stock Up 0.7 %

COST stock opened at $906.98 on Monday. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.94 and a quick ratio of 0.45. The stock has a market capitalization of $402.10 billion, a P/E ratio of 56.19, a P/E/G ratio of 5.51 and a beta of 0.80. Costco Wholesale Co. has a fifty-two week low of $540.23 and a fifty-two week high of $923.83. The business has a 50-day moving average of $864.85 and a 200-day moving average of $811.52.

Costco Wholesale Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 9th. Shareholders of record on Friday, July 26th were given a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a yield of 0.51%. The ex-dividend date was Friday, July 26th. Costco Wholesale’s dividend payout ratio (DPR) is currently 28.75%.

Wall Street Analysts Forecast Growth

COST has been the topic of a number of research reports. StockNews.com upgraded shares of Costco Wholesale from a “hold” rating to a “buy” rating in a research report on Friday, September 6th. Robert W. Baird increased their price objective on shares of Costco Wholesale from $850.00 to $975.00 and gave the company an “outperform” rating in a report on Thursday, July 11th. TD Cowen raised their price objective on shares of Costco Wholesale from $850.00 to $925.00 and gave the company a “buy” rating in a research note on Friday, July 12th. Barclays upped their target price on shares of Costco Wholesale from $765.00 to $830.00 and gave the company an “equal weight” rating in a research report on Thursday, July 11th. Finally, Wells Fargo & Company raised their price target on Costco Wholesale from $775.00 to $800.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 11th. Seven 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, Costco Wholesale has an average rating of “Moderate Buy” and a consensus price target of $853.92.

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.