Costco Wholesale Corporation $COST Stock Position Lessened by Marco Investment Management LLC

Marco Investment Management LLC lessened its stake in shares of Costco Wholesale Corporation (NASDAQ:COST) by 0.3% during the second quarter, Holdings Channel.com reports. The institutional investor owned 40,194 shares of the retailer’s stock after selling 125 shares during the period. Costco Wholesale accounts for about 3.3% of Marco Investment Management LLC’s portfolio, making the stock its 5th largest position. Marco Investment Management LLC’s holdings in Costco Wholesale were worth $39,790,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Peterson Wealth Services boosted its stake in Costco Wholesale by 0.5% in the 2nd quarter. Peterson Wealth Services now owns 13,616 shares of the retailer’s stock worth $13,479,000 after buying an additional 72 shares during the last quarter. Fishman Jay A Ltd. MI increased its position in Costco Wholesale by 3.5% during the 2nd quarter. Fishman Jay A Ltd. MI now owns 16,888 shares of the retailer’s stock worth $16,718,000 after purchasing an additional 575 shares in the last quarter. Independent Solutions Wealth Management LLC lifted its position in Costco Wholesale by 0.3% during the second quarter. Independent Solutions Wealth Management LLC now owns 20,638 shares of the retailer’s stock valued at $20,430,000 after buying an additional 53 shares in the last quarter. Graybill Wealth Management LTD. purchased a new position in shares of Costco Wholesale in the 1st quarter valued at $3,095,000. Finally, Rossmore Private Capital lifted its holdings in shares of Costco Wholesale by 0.9% during the 1st quarter. Rossmore Private Capital now owns 6,687 shares of the retailer’s stock valued at $6,325,000 after acquiring an additional 62 shares in the last quarter. 68.48% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Costco Wholesale

In related news, insider Tiffany Marie Barbre sold 1,239 shares of the company’s stock in a transaction that occurred on Friday, October 24th. The stock was sold at an average price of $934.62, for a total transaction of $1,157,994.18. Following the sale, the insider directly owned 5,155 shares of the company’s stock, valued at approximately $4,817,966.10. This represents a 19.38% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Claudine Adamo sold 2,700 shares of the firm’s stock in a transaction on Friday, October 24th. The stock was sold at an average price of $935.68, for a total value of $2,526,336.00. Following the transaction, the executive vice president owned 6,851 shares in the company, valued at $6,410,343.68. This trade represents a 28.27% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 7,920 shares of company stock valued at $7,373,175 over the last 90 days. Insiders own 0.18% of the company’s stock.

Costco Wholesale Price Performance

COST opened at $922.74 on Friday. The company has a market capitalization of $408.94 billion, a P/E ratio of 50.67, a PEG ratio of 5.54 and a beta of 0.98. The company has a 50-day moving average of $938.12 and a 200-day moving average of $968.77. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.55 and a current ratio of 1.03. Costco Wholesale Corporation has a 1-year low of $871.71 and a 1-year high of $1,078.23.

Costco Wholesale (NASDAQ:COST) last posted its quarterly earnings results on Thursday, September 25th. The retailer reported $5.87 EPS for the quarter, topping analysts’ consensus estimates of $5.81 by $0.06. The business had revenue of $86.16 billion during the quarter, compared to the consensus estimate of $86.01 billion. Costco Wholesale had a return on equity of 30.09% and a net margin of 2.94%.The company’s revenue for the quarter was up 8.1% compared to the same quarter last year. During the same period last year, the firm earned $5.15 earnings per share. Equities analysts expect that Costco Wholesale Corporation will post 18.03 EPS for the current fiscal year.

Costco Wholesale Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Friday, October 31st will be given a $1.30 dividend. The ex-dividend date is Friday, October 31st. This represents a $5.20 annualized dividend and a dividend yield of 0.6%. Costco Wholesale’s dividend payout ratio (DPR) is presently 28.56%.

Wall Street Analysts Forecast Growth

COST has been the topic of several research reports. Citigroup cut their price objective on Costco Wholesale from $1,065.00 to $990.00 and set a “neutral” rating on the stock in a research report on Monday, September 29th. Sanford C. Bernstein decreased their target price on shares of Costco Wholesale from $1,140.00 to $1,134.00 and set an “outperform” rating for the company in a research note on Tuesday. BTIG Research initiated coverage on Costco Wholesale in a research note on Tuesday, October 14th. They set a “buy” rating and a $1,115.00 target price for the company. The Goldman Sachs Group lifted their target price on Costco Wholesale from $1,333.00 to $1,418.00 and gave the stock a “buy” rating in a research report on Friday, September 26th. Finally, Truist Financial cut their price target on Costco Wholesale from $1,042.00 to $1,033.00 and set a “hold” rating on the stock in a research note on Friday, September 26th. Nineteen research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. According to data from MarketBeat, Costco Wholesale has an average rating of “Moderate Buy” and an average target price of $1,063.88.

Costco Wholesale Company 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.