Van Hulzen Asset Management LLC lessened its holdings in shares of Costco Wholesale Co. (NASDAQ:COST) by 4.7% in the 4th quarter, Holdings Channel reports. The firm owned 12,925 shares of the retailer’s stock after selling 633 shares during the quarter. Van Hulzen Asset Management LLC’s holdings in Costco Wholesale were worth $2,633,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of COST. Country Club Trust Company n.a. increased its position in shares of Costco Wholesale by 8.0% in the 4th quarter. Country Club Trust Company n.a. now owns 6,556 shares of the retailer’s stock valued at $1,336,000 after acquiring an additional 484 shares during the period. Ruggie Capital Group acquired a new position in shares of Costco Wholesale in the 4th quarter valued at $61,000. Ipswich Investment Management Co. Inc. increased its position in shares of Costco Wholesale by 80.1% in the 4th quarter. Ipswich Investment Management Co. Inc. now owns 15,378 shares of the retailer’s stock valued at $3,133,000 after acquiring an additional 6,839 shares during the period. TCI Wealth Advisors Inc. increased its position in shares of Costco Wholesale by 2.5% in the 4th quarter. TCI Wealth Advisors Inc. now owns 7,782 shares of the retailer’s stock valued at $1,585,000 after acquiring an additional 191 shares during the period. Finally, Walter & Keenan Financial Consulting Co. MI ADV increased its position in shares of Costco Wholesale by 5.6% in the 4th quarter. Walter & Keenan Financial Consulting Co. MI ADV now owns 1,900 shares of the retailer’s stock valued at $387,000 after acquiring an additional 100 shares during the period. Hedge funds and other institutional investors own 71.07% of the company’s stock.
In other news, Director Susan L. Decker sold 2,049 shares of the firm’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $232.00, for a total transaction of $475,368.00. Following the sale, the director now directly owns 48,589 shares in the company, valued at approximately $11,272,648. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Richard A. Galanti sold 4,188 shares of the firm’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $230.47, for a total value of $965,208.36. Following the sale, the vice president now owns 30,082 shares in the company, valued at $6,932,998.54. The disclosure for this sale can be found here. Insiders have sold a total of 8,587 shares of company stock worth $1,924,179 over the last 90 days. Insiders own 0.21% of the company’s stock.
Costco Wholesale (NASDAQ:COST) last posted its earnings results on Thursday, March 7th. The retailer reported $2.01 EPS for the quarter, beating the Zacks’ consensus estimate of $1.67 by $0.34. Costco Wholesale had a return on equity of 25.53% and a net margin of 2.34%. The firm had revenue of $35.40 billion for the quarter. During the same quarter last year, the business earned $1.59 earnings per share. As a group, analysts expect that Costco Wholesale Co. will post 7.9 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, February 22nd. Stockholders of record on Friday, February 8th were given a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 0.96%. The ex-dividend date was Thursday, February 7th. Costco Wholesale’s dividend payout ratio (DPR) is presently 33.38%.
COST has been the topic of several analyst reports. Citigroup downgraded Costco Wholesale from a “buy” rating to a “neutral” rating and cut their price target for the stock from $257.00 to $238.00 in a research report on Monday, December 3rd. Zacks Investment Research raised Costco Wholesale from a “hold” rating to a “buy” rating and set a $260.00 price target on the stock in a research report on Wednesday, December 5th. Wells Fargo & Co cut their price target on Costco Wholesale from $235.00 to $220.00 and set a “market perform” rating on the stock in a research report on Friday, December 14th. They noted that the move was a valuation call. Loop Capital cut their price target on Costco Wholesale to $260.00 and set a “buy” rating on the stock in a research report on Friday, December 14th. Finally, Oppenheimer cut their price target on Costco Wholesale from $262.00 to $240.00 in a research report on Friday, December 14th. Seven research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $244.57.
Costco Wholesale Profile
Costco Wholesale Corporation, together with its subsidiaries, operates membership warehouses. It offers branded and private-label products in a range of merchandise categories. The company provides dry and packaged foods, and groceries; snack foods, candies, alcoholic and nonalcoholic beverages, and cleaning supplies; appliances, electronics, health and beauty aids, hardware, and garden and patio products; meat, bakery, deli, and produces; and apparel and small appliances.
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