Spectrum Asset Management Inc. NB CA Has $1.41 Million Position in Costco Wholesale Co. (NASDAQ:COST)

Spectrum Asset Management Inc. NB CA lessened its holdings in shares of Costco Wholesale Co. (NASDAQ:COST) by 27.1% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,494 shares of the retailer’s stock after selling 554 shares during the quarter. Spectrum Asset Management Inc. NB CA’s holdings in Costco Wholesale were worth $1,413,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Investment Management Corp VA ADV acquired a new position in Costco Wholesale during the fourth quarter valued at approximately $25,000. Synergy Investment Management LLC bought a new stake in shares of Costco Wholesale during the 4th quarter worth $31,000. NewSquare Capital LLC grew its stake in Costco Wholesale by 250.0% in the 4th quarter. NewSquare Capital LLC now owns 35 shares of the retailer’s stock valued at $32,000 after buying an additional 25 shares during the last quarter. Collier Financial bought a new position in Costco Wholesale in the 4th quarter worth $35,000. Finally, Clear Investment Research LLC lifted its position in Costco Wholesale by 22.2% during the 4th quarter. Clear Investment Research LLC now owns 55 shares of the retailer’s stock worth $51,000 after acquiring an additional 10 shares during the last quarter. 68.48% of the stock is currently owned by institutional investors and hedge funds.

Costco Wholesale Price Performance

Shares of COST stock opened at $996.78 on Thursday. Costco Wholesale Co. has a 1 year low of $793.00 and a 1 year high of $1,078.24. The company has a current ratio of 0.98, a quick ratio of 0.43 and a debt-to-equity ratio of 0.23. The firm’s 50 day moving average is $996.91 and its 200-day moving average is $980.41. The firm has a market capitalization of $442.05 billion, a price-to-earnings ratio of 58.53, a PEG ratio of 6.15 and a beta of 1.00.

Costco Wholesale (NASDAQ:COST) last posted its quarterly earnings data on Thursday, May 29th. The retailer reported $4.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.24 by $0.04. The firm had revenue of $63.21 billion for the quarter, compared to the consensus estimate of $62.93 billion. Costco Wholesale had a return on equity of 32.31% and a net margin of 2.93%. The business’s revenue for the quarter was up 8.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.78 EPS. Sell-side analysts forecast that Costco Wholesale Co. will post 18.03 EPS for the current fiscal year.

Costco Wholesale Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 16th. Investors of record on Friday, May 2nd were issued a $1.30 dividend. This is a boost from Costco Wholesale’s previous quarterly dividend of $1.16. The ex-dividend date was Friday, May 2nd. This represents a $5.20 annualized dividend and a yield of 0.52%. Costco Wholesale’s dividend payout ratio (DPR) is currently 29.50%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on COST. Morgan Stanley upped their price target on shares of Costco Wholesale from $1,150.00 to $1,225.00 and gave the company an “overweight” rating in a report on Friday, May 30th. Cfra Research raised Costco Wholesale from a “hold” rating to a “moderate buy” rating in a report on Friday, April 4th. Truist Financial lifted their price target on Costco Wholesale from $995.00 to $1,042.00 and gave the stock a “hold” rating in a research report on Friday, May 30th. Loop Capital reduced their price objective on Costco Wholesale from $1,115.00 to $1,110.00 and set a “buy” rating for the company in a research report on Thursday, May 29th. Finally, Telsey Advisory Group restated an “outperform” rating and issued a $1,100.00 price objective on shares of Costco Wholesale in a research note on Tuesday, June 3rd. Nine equities research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $1,035.32.

Insider Buying and Selling

In other Costco Wholesale news, EVP Pierre Riel sold 2,000 shares of Costco Wholesale stock in a transaction on Friday, June 6th. The shares were sold at an average price of $1,014.15, for a total transaction of $2,028,300.00. Following the completion of the sale, the executive vice president now owns 8,210 shares of the company’s stock, valued at approximately $8,326,171.50. The trade was a 19.59% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Claudine Adamo sold 900 shares of the company’s stock in a transaction on Monday, March 24th. The shares were sold at an average price of $922.56, for a total transaction of $830,304.00. Following the sale, the executive vice president now owns 6,987 shares of the company’s stock, valued at $6,445,926.72. The trade was a 11.41% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 11,000 shares of company stock worth $10,825,205 over the last three months. 0.18% of the stock is currently owned by company 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.