SlateStone Wealth LLC Has $8.86 Million Stake in Costco Wholesale Co. (NASDAQ:COST)

SlateStone Wealth LLC lifted its stake in shares of Costco Wholesale Co. (NASDAQ:COST) by 0.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 13,415 shares of the retailer’s stock after purchasing an additional 91 shares during the period. Costco Wholesale makes up about 1.1% of SlateStone Wealth LLC’s investment portfolio, making the stock its 20th biggest position. SlateStone Wealth LLC’s holdings in Costco Wholesale were worth $8,855,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the business. International Assets Investment Management LLC lifted its holdings in Costco Wholesale by 61,693.5% in the fourth quarter. International Assets Investment Management LLC now owns 3,105,124 shares of the retailer’s stock valued at $2,049,630,000 after buying an additional 3,100,099 shares during the period. C WorldWide Group Holding A S acquired a new position in Costco Wholesale in the third quarter valued at approximately $390,630,000. Alphinity Investment Management Pty Ltd acquired a new stake in Costco Wholesale in the fourth quarter worth $297,915,000. Invesco Ltd. raised its holdings in Costco Wholesale by 18.3% in the third quarter. Invesco Ltd. now owns 2,088,673 shares of the retailer’s stock worth $1,180,016,000 after purchasing an additional 323,346 shares during the period. Finally, Canada Pension Plan Investment Board raised its holdings in Costco Wholesale by 34.8% in the third quarter. Canada Pension Plan Investment Board now owns 1,161,630 shares of the retailer’s stock worth $656,274,000 after purchasing an additional 300,000 shares during the period. 68.48% of the stock is owned by institutional investors.

Insider Transactions at Costco Wholesale

In other news, EVP Russell D. Miller sold 785 shares of the firm’s stock in a transaction dated Wednesday, April 17th. The shares were sold at an average price of $722.86, for a total transaction of $567,445.10. Following the completion of the sale, the executive vice president now owns 10,000 shares in the company, valued at approximately $7,228,600. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Costco Wholesale news, Director Susan L. Decker sold 1,442 shares of Costco Wholesale stock in a transaction dated 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 completion of the sale, the director now owns 12,395 shares in the company, valued at approximately $8,967,534.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Russell D. Miller sold 785 shares of Costco Wholesale stock in a transaction dated Wednesday, April 17th. The stock was sold at an average price of $722.86, for a total transaction of $567,445.10. Following the completion of the sale, the executive vice president now owns 10,000 shares of the company’s stock, valued at approximately $7,228,600. The disclosure for this sale can be found here. In the last 90 days, insiders sold 3,727 shares of company stock worth $2,682,948. 0.18% of the stock is owned by insiders.

Costco Wholesale Stock Performance

Shares of COST opened at $720.06 on Wednesday. The firm has a 50-day moving average of $730.32 and a 200-day moving average of $664.04. Costco Wholesale Co. has a one year low of $476.75 and a one year high of $787.08. The company has a market cap of $319.35 billion, a PE ratio of 47.26, a price-to-earnings-growth ratio of 4.76 and a beta of 0.77. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.93 and a quick ratio of 0.43.

Costco Wholesale (NASDAQ:COST) last announced its quarterly earnings data on Thursday, March 7th. The retailer reported $3.71 EPS for the quarter, beating analysts’ consensus estimates of $3.62 by $0.09. Costco Wholesale had a net margin of 2.73% and a return on equity of 28.80%. The company had revenue of $58.44 billion during the quarter, compared to the consensus estimate of $59.11 billion. During the same quarter last year, the firm posted $3.30 EPS. The company’s quarterly revenue was up 5.7% on a year-over-year basis. As a group, equities analysts forecast that Costco Wholesale Co. will post 15.84 earnings per share for the current year.

Costco Wholesale Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 10th. Stockholders of record on Friday, April 26th will be given a $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a dividend yield of 0.64%. The ex-dividend date of this dividend is Thursday, April 25th. This is an increase from Costco Wholesale’s previous quarterly dividend of $1.02. Costco Wholesale’s dividend payout ratio (DPR) is 26.68%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on COST shares. Loop Capital cut their target price on shares of Costco Wholesale from $830.00 to $820.00 and set a “buy” rating on the stock in a report on Thursday, April 11th. Gordon Haskett lowered shares of Costco Wholesale from a “buy” rating to an “accumulate” rating and set a $775.00 target price on the stock. in a report on Wednesday, April 3rd. Wells Fargo & Company increased their target price on shares of Costco Wholesale from $610.00 to $675.00 and gave the stock an “equal weight” rating in a report on Thursday, February 8th. Telsey Advisory Group reiterated an “outperform” rating and issued a $800.00 target price on shares of Costco Wholesale in a report on Thursday, April 11th. Finally, DA Davidson reiterated a “neutral” rating and issued a $680.00 target price on shares of Costco Wholesale in a report on Thursday, April 11th. Seven equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $694.48.

Costco Wholesale 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.