Massachusetts Wealth Management Has $2.38 Million Holdings in Costco Wholesale Co. (NASDAQ:COST)

Massachusetts Wealth Management cut its position in Costco Wholesale Co. (NASDAQ:COST) by 1.8% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,797 shares of the retailer’s stock after selling 50 shares during the quarter. Costco Wholesale comprises about 1.6% of Massachusetts Wealth Management’s portfolio, making the stock its 18th biggest holding. Massachusetts Wealth Management’s holdings in Costco Wholesale were worth $2,377,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in COST. GUNN & Co INVESTMENT MANAGEMENT INC. raised its holdings in Costco Wholesale by 1,016.9% in the 4th quarter. GUNN & Co INVESTMENT MANAGEMENT INC. now owns 56,516 shares of the retailer’s stock valued at $37,305,000 after acquiring an additional 51,456 shares in the last quarter. Gilbert & Cook Inc. lifted its position in Costco Wholesale by 57.3% during the fourth quarter. Gilbert & Cook Inc. now owns 626 shares of the retailer’s stock worth $413,000 after purchasing an additional 228 shares during the period. Aveo Capital Partners LLC increased its holdings in shares of Costco Wholesale by 14.5% during the fourth quarter. Aveo Capital Partners LLC now owns 1,065 shares of the retailer’s stock worth $703,000 after buying an additional 135 shares in the last quarter. AJOVista LLC bought a new position in shares of Costco Wholesale in the 4th quarter valued at $72,000. Finally, Noesis Capital Mangement Corp boosted its holdings in shares of Costco Wholesale by 7.9% during the 4th quarter. Noesis Capital Mangement Corp now owns 477 shares of the retailer’s stock valued at $315,000 after acquiring an additional 35 shares in the last quarter. Institutional investors own 68.48% of the company’s stock.

Costco Wholesale Trading Up 0.6 %

Shares of NASDAQ COST traded up $5.75 during midday trading on Friday, hitting $892.38. 1,933,485 shares of the company traded hands, compared to its average volume of 1,775,800. Costco Wholesale Co. has a 12-month low of $539.31 and a 12-month high of $918.93. The firm has a market cap of $395.62 billion, a P/E ratio of 55.29, a P/E/G ratio of 5.98 and a beta of 0.78. The stock has a 50-day moving average price of $854.20 and a 200 day moving average price of $794.58. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.45 and a current ratio of 0.94.

Costco Wholesale (NASDAQ:COST) last issued its quarterly earnings results on Thursday, May 30th. The retailer reported $3.78 earnings per share (EPS) for the quarter, topping 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 company had revenue of $58.52 billion during the quarter, compared to analyst estimates of $58.16 billion. During the same period last year, the business earned $3.43 EPS. Costco Wholesale’s quarterly revenue was up 9.1% compared to the same quarter last year. As a group, analysts expect that Costco Wholesale Co. will post 15.98 earnings per share for the current year.

Costco Wholesale Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 9th. Investors of record on Friday, July 26th were paid a $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a yield of 0.52%. The ex-dividend date was Friday, July 26th. Costco Wholesale’s payout ratio is 28.75%.

Insiders Place Their Bets

In other news, insider Daniel M. Hines sold 1,500 shares of the firm’s stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $844.20, for a total transaction of $1,266,300.00. Following the sale, the insider now owns 12,492 shares of the company’s stock, valued at approximately $10,545,746.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Costco Wholesale news, Director Kenneth D. Denman sold 350 shares of Costco Wholesale 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 transaction, the director now owns 5,920 shares of the company’s stock, valued at $5,041,057.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Daniel M. Hines sold 1,500 shares of the stock in a transaction on Friday, July 12th. The stock was sold at an average price of $844.20, for a total transaction of $1,266,300.00. Following the completion of the sale, the insider now directly owns 12,492 shares of the company’s stock, valued at $10,545,746.40. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 4,974 shares of company stock valued at $4,252,856. Insiders own 0.18% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Evercore ISI dropped their target price on Costco Wholesale from $920.00 to $915.00 and set an “outperform” rating for the company in a research report on Wednesday, August 7th. Loop Capital raised their price objective on shares of Costco Wholesale from $940.00 to $970.00 and gave the company a “buy” rating in a report on Thursday, July 11th. TD Cowen boosted their target price on shares of Costco Wholesale from $850.00 to $925.00 and gave the stock a “buy” rating in a report on Friday, July 12th. Robert W. Baird boosted their price objective on shares of Costco Wholesale from $850.00 to $975.00 and gave the stock an “outperform” rating in a research note on Thursday, July 11th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on shares of Costco Wholesale from $925.00 to $927.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. Eight research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $824.50.

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.