State of Tennessee Department of Treasury Lowers Position in Costco Wholesale Co. (NASDAQ:COST)

State of Tennessee Department of Treasury trimmed its position in shares of Costco Wholesale Co. (NASDAQ:COST) by 4.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 155,467 shares of the retailer’s stock after selling 6,916 shares during the quarter. State of Tennessee Department of Treasury’s holdings in Costco Wholesale were worth $142,450,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of the company. Synergy Investment Management LLC bought a new position in Costco Wholesale in the 4th quarter valued at $31,000. NewSquare Capital LLC boosted its holdings in shares of Costco Wholesale by 250.0% in the 4th quarter. NewSquare Capital LLC now owns 35 shares of the retailer’s stock worth $32,000 after buying an additional 25 shares during the last quarter. Endeavor Private Wealth Inc. purchased a new stake in Costco Wholesale during the fourth quarter worth about $33,000. Collier Financial bought a new stake in Costco Wholesale in the fourth quarter worth about $35,000. Finally, Barrett & Company Inc. raised its position in Costco Wholesale by 59.3% in the fourth quarter. Barrett & Company Inc. now owns 43 shares of the retailer’s stock worth $39,000 after acquiring an additional 16 shares during the period. 68.48% of the stock is owned by hedge funds and other institutional investors.

Costco Wholesale Price Performance

Shares of NASDAQ:COST opened at $994.50 on Monday. The company’s fifty day moving average price is $975.99 and its 200-day moving average price is $953.37. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.98 and a quick ratio of 0.43. The firm has a market capitalization of $441.24 billion, a price-to-earnings ratio of 58.40, a PEG ratio of 6.15 and a beta of 0.95. Costco Wholesale Co. has a one year low of $706.17 and a one year high of $1,078.24.

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

Costco Wholesale Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 16th. Shareholders of record on Friday, May 2nd will be given a dividend of $1.30 per share. This is a boost from Costco Wholesale’s previous quarterly dividend of $1.16. This represents a $5.20 dividend on an annualized basis and a yield of 0.52%. The ex-dividend date of this dividend is Friday, May 2nd. Costco Wholesale’s dividend payout ratio (DPR) is presently 27.09%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on COST shares. Robert W. Baird raised their price target on shares of Costco Wholesale from $1,075.00 to $1,125.00 and gave the stock an “outperform” rating in a research note on Friday, March 7th. Telsey Advisory Group reissued an “outperform” rating and issued a $1,100.00 target price on shares of Costco Wholesale in a research report on Thursday, April 10th. Cfra Research raised Costco Wholesale from a “hold” rating to a “moderate buy” rating in a research report on Friday, April 4th. Cowen reiterated a “buy” rating on shares of Costco Wholesale in a research note on Friday, March 7th. Finally, Mizuho started coverage on Costco Wholesale in a research note on Friday, April 11th. They issued a “neutral” rating and a $975.00 price objective on the stock. Ten equities research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,024.03.

Insiders Place Their Bets

In other news, CEO Roland Michael Vachris sold 3,600 shares of the firm’s stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $931.00, for a total transaction of $3,351,600.00. Following the transaction, the chief executive officer now directly owns 41,077 shares of the company’s stock, valued at approximately $38,242,687. This trade represents a 8.06 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Gary Millerchip sold 1,100 shares of the business’s stock in a transaction dated Thursday, March 27th. The shares were 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 of the company’s stock, valued at approximately $10,495,211.65. This trade represents a 8.97 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 5,600 shares of company stock valued at $5,215,915. 0.18% of the stock is currently owned by corporate insiders.

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.