Costco Wholesale Co. (NASDAQ:COST) is Weik Capital Management’s 7th Largest Position

Weik Capital Management reduced its stake in Costco Wholesale Co. (NASDAQ:COST) by 0.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 8,891 shares of the retailer’s stock after selling 83 shares during the quarter. Costco Wholesale accounts for 3.3% of Weik Capital Management’s investment portfolio, making the stock its 7th largest position. Weik Capital Management’s holdings in Costco Wholesale were worth $8,147,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently made changes to their positions in COST. CHURCHILL MANAGEMENT Corp purchased a new stake in shares of Costco Wholesale in the 4th quarter valued at $8,430,000. GAMMA Investing LLC increased its stake in Costco Wholesale by 15.0% during the fourth quarter. GAMMA Investing LLC now owns 7,662 shares of the retailer’s stock worth $7,020,000 after purchasing an additional 1,001 shares during the period. Dale Q Rice Investment Management Ltd acquired a new stake in shares of Costco Wholesale during the fourth quarter worth about $984,000. Stanich Group LLC purchased a new position in shares of Costco Wholesale in the fourth quarter valued at approximately $214,000. Finally, Everence Capital Management Inc. grew its holdings in shares of Costco Wholesale by 15.4% in the fourth quarter. Everence Capital Management Inc. now owns 11,913 shares of the retailer’s stock valued at $10,916,000 after purchasing an additional 1,590 shares in the last quarter. Hedge funds and other institutional investors own 68.48% of the company’s stock.

Insider Activity at Costco Wholesale

In related news, EVP Gary Millerchip sold 1,100 shares of the stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $940.01, for a total value of $1,034,011.00. Following the completion of the sale, the executive vice president now directly owns 11,165 shares in the company, valued at approximately $10,495,211.65. This represents a 8.97 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Claudine Adamo sold 900 shares of the business’s stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $922.56, for a total value of $830,304.00. Following the transaction, the executive vice president now owns 6,987 shares in the company, valued at approximately $6,445,926.72. This represents a 11.41 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 5,600 shares of company stock worth $5,215,915. Company insiders own 0.18% of the company’s stock.

Wall Street Analysts Forecast Growth

COST has been the subject of several research reports. Morgan Stanley boosted their price target on shares of Costco Wholesale from $950.00 to $1,150.00 and gave the stock an “overweight” rating in a research note on Friday, December 13th. Raymond James increased their price target on Costco Wholesale from $990.00 to $1,030.00 and gave the company an “overweight” rating in a research report on Thursday, December 12th. Jefferies Financial Group boosted their price objective on Costco Wholesale from $1,050.00 to $1,145.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. Truist Financial raised their target price on shares of Costco Wholesale from $935.00 to $995.00 and gave the company a “hold” rating in a report on Friday, March 7th. Finally, Loop Capital dropped their price objective on shares of Costco Wholesale from $1,150.00 to $1,135.00 and set a “buy” rating on the stock in a research report on Friday, March 7th. Nine research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $1,029.00.

Costco Wholesale Stock Performance

Shares of COST stock opened at $938.75 on Friday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.43 and a current ratio of 0.98. The firm has a market capitalization of $416.51 billion, a price-to-earnings ratio of 55.12, a price-to-earnings-growth ratio of 6.15 and a beta of 0.82. Costco Wholesale Co. has a one year low of $697.27 and a one year high of $1,078.24. The company has a 50 day moving average price of $988.34 and a 200 day moving average price of $945.95.

Costco Wholesale (NASDAQ:COST) last issued its earnings results on Thursday, March 6th. The retailer reported $4.02 earnings per share for the quarter, missing the consensus estimate of $4.09 by ($0.07). The firm had revenue of $63.72 billion during the quarter, compared to analysts’ expectations of $63.02 billion. Costco Wholesale had a return on equity of 32.31% and a net margin of 2.93%. Sell-side analysts anticipate that Costco Wholesale Co. will post 18.03 EPS for the current year.

Costco Wholesale Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 21st. Investors of record on Friday, February 7th were given a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date was Friday, February 7th. Costco Wholesale’s dividend payout ratio (DPR) is presently 27.09%.

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.