Tributary Capital Management LLC Has $778,000 Stake in Costco Wholesale Co. (NASDAQ:COST)

Tributary Capital Management LLC cut its stake in Costco Wholesale Co. (NASDAQ:COST) by 3.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 915 shares of the retailer’s stock after selling 30 shares during the period. Tributary Capital Management LLC’s holdings in Costco Wholesale were worth $778,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently modified their holdings of COST. Main Street Financial Solutions LLC increased its position in shares of Costco Wholesale by 4.7% during the 4th quarter. Main Street Financial Solutions LLC now owns 1,763 shares of the retailer’s stock worth $1,164,000 after purchasing an additional 79 shares during the last quarter. Metis Global Partners LLC increased its holdings in Costco Wholesale by 15.6% during the fourth quarter. Metis Global Partners LLC now owns 21,514 shares of the retailer’s stock worth $14,201,000 after buying an additional 2,909 shares during the last quarter. Zhang Financial LLC raised its position in Costco Wholesale by 3.8% during the first quarter. Zhang Financial LLC now owns 1,010 shares of the retailer’s stock worth $740,000 after acquiring an additional 37 shares in the last quarter. Strong Tower Advisory Services lifted its stake in Costco Wholesale by 7.9% in the first quarter. Strong Tower Advisory Services now owns 1,867 shares of the retailer’s stock valued at $1,346,000 after acquiring an additional 137 shares during the last quarter. Finally, Cary Street Partners Investment Advisory LLC grew its position in shares of Costco Wholesale by 6.2% in the 4th quarter. Cary Street Partners Investment Advisory LLC now owns 27,902 shares of the retailer’s stock valued at $18,418,000 after acquiring an additional 1,627 shares during the period. 68.48% of the stock is owned by institutional investors and hedge funds.

Costco Wholesale Trading Up 0.2 %

Costco Wholesale stock traded up $1.65 during mid-day trading on Friday, hitting $879.21. 1,305,753 shares of the stock were exchanged, compared to its average volume of 1,967,249. The stock has a market capitalization of $389.78 billion, a price-to-earnings ratio of 54.47, a PEG ratio of 5.84 and a beta of 0.78. Costco Wholesale Co. has a 12 month low of $530.56 and a 12 month high of $896.67. The company has a quick ratio of 0.45, a current ratio of 0.94 and a debt-to-equity ratio of 0.27. The firm’s fifty day simple moving average is $851.23 and its two-hundred day simple moving average is $787.99.

Costco Wholesale (NASDAQ:COST) last released its earnings results on Thursday, May 30th. The retailer reported $3.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.70 by $0.08. Costco Wholesale had a net margin of 2.83% and a return on equity of 30.02%. The business had revenue of $58.52 billion for the quarter, compared to analyst estimates of $58.16 billion. During the same quarter in the previous year, the business earned $3.43 earnings per share. Costco Wholesale’s revenue for the quarter was up 9.1% on a year-over-year basis. Analysts forecast that Costco Wholesale Co. will post 15.98 EPS for the current year.

Costco Wholesale Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 9th. Shareholders of record on Friday, July 26th were issued a $1.16 dividend. The ex-dividend date was Friday, July 26th. This represents a $4.64 dividend on an annualized basis and a yield of 0.53%. Costco Wholesale’s payout ratio is currently 28.75%.

Insiders Place Their Bets

In other news, Director Kenneth D. Denman sold 350 shares of the firm’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $851.53, for a total transaction of $298,035.50. Following the completion of the sale, the director now owns 5,920 shares of the company’s stock, valued at approximately $5,041,057.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Director Kenneth D. Denman sold 350 shares of the firm’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $851.53, for a total value of $298,035.50. Following the completion of the sale, the director now directly owns 5,920 shares in the company, valued at approximately $5,041,057.60. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Daniel M. Hines sold 1,500 shares of the stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $848.53, for a total value of $1,272,795.00. Following the completion of the transaction, the insider now owns 10,992 shares in the company, valued at approximately $9,327,041.76. The disclosure for this sale can be found here. Over the last three months, insiders sold 4,970 shares of company stock worth $4,249,526. 0.18% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

COST has been the topic of a number of research analyst reports. Evercore ISI dropped their target price on shares of Costco Wholesale from $920.00 to $915.00 and set an “outperform” rating on the stock in a report on Wednesday, August 7th. Truist Financial upped their target price on Costco Wholesale from $815.00 to $873.00 and gave the company a “buy” rating in a research report on Friday, May 31st. TD Cowen lifted their price target on Costco Wholesale from $850.00 to $925.00 and gave the stock a “buy” rating in a report on Friday, July 12th. Oppenheimer lowered their price objective on shares of Costco Wholesale from $950.00 to $925.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Finally, Citigroup lifted their price target on Costco Wholesale from $710.00 to $800.00 and gave the company a “neutral” rating in a research note on Friday, May 31st. Seven analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. According to MarketBeat, Costco Wholesale presently has a consensus rating of “Moderate Buy” and a consensus target price of $824.50.

About Costco Wholesale

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.