Cary Street Partners Investment Advisory LLC Reduces Stock Position in Costco Wholesale Co. (NASDAQ:COST)

1 May 2024

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Cary Street Partners Investment Advisory LLC Reduces Stock Position in
Costco Wholesale Co NASDAQCOST

Alpha Cubed Investments LLC boosted its holdings in shares of Costco Wholesale Co. (NASDAQ:COST - Free Report) by 4.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 31,295 shares of the retailer's stock after purchasing an additional 1,349 shares during the period. Costco Wholesale makes up approximately 1.2% of Alpha Cubed Investments LLC's holdings, making the stock its 28th biggest position. Alpha Cubed Investments LLC's holdings in Costco Wholesale were worth $20,657,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Richelieu Gestion SA acquired a new stake in Costco Wholesale during the fourth quarter valued at approximately $25,000. Morton Brown Family Wealth LLC lifted its stake in Costco Wholesale by 200.0% during the fourth 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. acquired a new stake in Costco Wholesale during the fourth quarter valued at approximately $30,000. Steph & Co. lifted its stake in Costco Wholesale by 42.3% during the third quarter. Steph & Co. now owns 74 shares of the retailer's stock valued at $42,000 after purchasing an additional 22 shares during the last quarter. Finally, Valued Wealth Advisors LLC acquired a new stake in Costco Wholesale during the fourth quarter valued at approximately $49,000. 68.48% of the stock is owned by institutional investors and hedge funds.

Costco Wholesale Stock Performance

COST traded down $3.43 during trading on Tuesday, hitting $722.90. The stock had a trading volume of 1,734,041 shares, compared to its average volume of 2,045,451. The firm has a market cap of $320.61 billion, a PE ratio of 47.19, a P/E/G ratio of 4.86 and a beta of 0.77. Costco Wholesale Co. has a 12 month low of $476.75 and a 12 month high of $787.08. The company has a current ratio of 0.93, a quick ratio of 0.43 and a debt-to-equity ratio of 0.28. The company has a 50 day simple moving average of $730.46 and a 200-day simple moving average of $668.62.

Costco Wholesale (NASDAQ:COST - Get Free Report) last posted its quarterly earnings results on Thursday, March 7th. The retailer reported $3.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.62 by $0.09. The company had revenue of $58.44 billion for the quarter, compared to analyst estimates of $59.11 billion. Costco Wholesale had a net margin of 2.73% and a return on equity of 28.80%. The business's quarterly revenue was up 5.7% on a year-over-year basis. During the same period last year, the business posted $3.30 EPS. Analysts expect that Costco Wholesale Co. will post 15.84 EPS for the current year.

Costco Wholesale Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 10th. Shareholders of record on Friday, April 26th will be given a $1.16 dividend. This represents a $4.64 annualized dividend and a yield of 0.64%. This is a positive change from Costco Wholesale's previous quarterly dividend of $1.02. The ex-dividend date of this dividend is Thursday, April 25th. Costco Wholesale's dividend payout ratio (DPR) is currently 30.35%.

Insiders Place Their Bets

In other Costco Wholesale news, Director Susan L. Decker sold 1,442 shares of the firm's stock in a transaction on Friday, February 9th. The shares were sold at an average price of $723.48, for a total value of $1,043,258.16. Following the sale, the director now directly owns 12,395 shares in the company, valued at approximately $8,967,534.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Costco Wholesale news, Director Susan L. Decker sold 1,442 shares of the firm's stock in a transaction on Friday, February 9th. The shares were sold at an average price of $723.48, for a total value of $1,043,258.16. Following the sale, the director now directly owns 12,395 shares in the company, valued at approximately $8,967,534.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Claudine Adamo sold 1,500 shares of the firm's stock in a transaction on 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 have sold 3,727 shares of company stock worth $2,682,948 in the last ninety days. Insiders own 0.18% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Loop Capital reduced their price target on shares of Costco Wholesale from $830.00 to $820.00 and set a "buy" rating for the company in a research report on Thursday, April 11th. Wells Fargo & Company upped their price target on shares of Costco Wholesale from $610.00 to $675.00 and gave the company an "equal weight" rating in a research report on Thursday, February 8th. Oppenheimer upped their price target on shares of Costco Wholesale from $760.00 to $805.00 and gave the company an "outperform" rating in a research report on Tuesday, March 5th. The Goldman Sachs Group upped their price target on shares of Costco Wholesale from $665.00 to $749.00 and gave the company a "buy" rating in a research report on Thursday, February 8th. Finally, DA Davidson restated a "neutral" rating and issued a $680.00 price target on shares of Costco Wholesale in a research report on Thursday, April 11th. Seven investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat, Costco Wholesale currently has a consensus rating of "Moderate Buy" and an average target price of $694.48.

Get Our Latest Stock Report on Costco Wholesale

About Costco Wholesale

(Free Report)

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.