RMB Capital Management LLC Trims Position in Costco Wholesale Co. (NASDAQ:COST)

RMB Capital Management LLC lowered its position in Costco Wholesale Co. (NASDAQ:COSTGet Rating) by 10.8% in the first quarter, HoldingsChannel reports. The firm owned 2,456 shares of the retailer’s stock after selling 297 shares during the period. RMB Capital Management LLC’s holdings in Costco Wholesale were worth $1,414,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Fortune 45 LLC grew its stake in shares of Costco Wholesale by 8.6% in the 1st quarter. Fortune 45 LLC now owns 696 shares of the retailer’s stock valued at $401,000 after buying an additional 55 shares during the period. CHICAGO TRUST Co NA lifted its holdings in Costco Wholesale by 3.6% in the first quarter. CHICAGO TRUST Co NA now owns 6,081 shares of the retailer’s stock valued at $3,502,000 after acquiring an additional 209 shares during the last quarter. Twin Capital Management Inc. lifted its holdings in Costco Wholesale by 1.3% in the first quarter. Twin Capital Management Inc. now owns 7,728 shares of the retailer’s stock valued at $4,450,000 after acquiring an additional 101 shares during the last quarter. Schmidt P J Investment Management Inc. grew its position in Costco Wholesale by 117.4% in the first quarter. Schmidt P J Investment Management Inc. now owns 6,332 shares of the retailer’s stock worth $3,367,000 after acquiring an additional 3,419 shares during the period. Finally, Balentine LLC increased its stake in Costco Wholesale by 70.3% during the first quarter. Balentine LLC now owns 4,541 shares of the retailer’s stock worth $2,615,000 after acquiring an additional 1,874 shares during the last quarter. 67.52% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently issued reports on COST shares. Truist Financial boosted their price objective on shares of Costco Wholesale from $543.00 to $571.00 in a report on Thursday. Oppenheimer upped their price objective on shares of Costco Wholesale from $535.00 to $600.00 in a report on Thursday. Stifel Nicolaus lifted their target price on shares of Costco Wholesale from $555.00 to $565.00 in a report on Thursday, May 5th. StockNews.com upgraded Costco Wholesale from a “hold” rating to a “buy” rating in a research note on Friday, July 15th. Finally, Robert W. Baird lowered their price target on Costco Wholesale from $600.00 to $560.00 and set an “outperform” rating for the company in a research report on Friday, May 27th. Four analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $576.68.

Costco Wholesale Trading Down 0.5 %

Shares of NASDAQ:COST opened at $540.67 on Friday. The company has a market cap of $239.50 billion, a PE ratio of 42.57, a P/E/G ratio of 4.53 and a beta of 0.69. The company’s 50 day moving average is $492.92 and its two-hundred day moving average is $515.12. Costco Wholesale Co. has a 52 week low of $406.51 and a 52 week high of $612.27. The company has a current ratio of 1.04, a quick ratio of 0.48 and a debt-to-equity ratio of 0.32.

Costco Wholesale (NASDAQ:COSTGet Rating) last posted its earnings results on Thursday, May 26th. The retailer reported $3.17 EPS for the quarter, beating the consensus estimate of $3.00 by $0.17. The firm had revenue of $52.60 billion for the quarter, compared to analyst estimates of $51.49 billion. Costco Wholesale had a return on equity of 29.71% and a net margin of 2.60%. Costco Wholesale’s revenue for the quarter was up 18.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.75 earnings per share. Equities analysts predict that Costco Wholesale Co. will post 13.05 earnings per share for the current fiscal year.

Costco Wholesale Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 12th. Stockholders of record on Friday, July 29th will be given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 0.07%. The ex-dividend date is Thursday, July 28th. Costco Wholesale’s dividend payout ratio (DPR) is presently 28.35%.

Insider Buying and Selling

In other Costco Wholesale news, VP James P. Murphy sold 1,500 shares of the stock in a transaction that occurred on Wednesday, July 20th. The shares were sold at an average price of $525.20, for a total value of $787,800.00. Following the transaction, the vice president now directly owns 36,230 shares in the company, valued at $19,027,996. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Richard A. Galanti sold 1,000 shares of the business’s stock in a transaction on Thursday, July 14th. The shares were sold at an average price of $505.60, for a total value of $505,600.00. Following the completion of the sale, the chief financial officer now directly owns 25,750 shares of the company’s stock, valued at $13,019,200. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP James P. Murphy sold 1,500 shares of the firm’s stock in a transaction dated Wednesday, July 20th. The stock was sold at an average price of $525.20, for a total value of $787,800.00. Following the transaction, the vice president now directly owns 36,230 shares in the company, valued at approximately $19,027,996. The disclosure for this sale can be found here. Insiders sold a total of 5,300 shares of company stock worth $2,609,904 over the last 90 days. 0.22% of the stock is owned by insiders.

Costco Wholesale Company Profile

(Get Rating)

Costco Wholesale Corporation, together with its subsidiaries, engages in the operation of membership warehouses in the United States, Puerto Rico, Canada, the United Kingdom, Mexico, Japan, Korea, Australia, Spain, France, Iceland, China, and Taiwan. It offers branded and private-label products in a range of merchandise categories.

See Also

Want to see what other hedge funds are holding COST? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Costco Wholesale Co. (NASDAQ:COSTGet Rating).

Institutional Ownership by Quarter for Costco Wholesale (NASDAQ:COST)

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