SlateStone Wealth LLC Sells 109 Shares of Costco Wholesale Co. (NASDAQ:COST)

SlateStone Wealth LLC cut its holdings in Costco Wholesale Co. (NASDAQ:COST) by 0.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,074 shares of the retailer’s stock after selling 109 shares during the period. Costco Wholesale makes up approximately 1.2% of SlateStone Wealth LLC’s portfolio, making the stock its 21st biggest position. SlateStone Wealth LLC’s holdings in Costco Wholesale were worth $11,979,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. RPg Family Wealth Advisory LLC acquired a new stake in shares of Costco Wholesale in the 3rd quarter valued at about $29,000. Synergy Investment Management LLC acquired a new stake in shares of Costco Wholesale in the 4th quarter valued at about $31,000. NewSquare Capital LLC grew its stake in shares of 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 period. Endeavor Private Wealth Inc. acquired a new stake in shares of Costco Wholesale in the 4th quarter valued at about $33,000. Finally, Collier Financial acquired a new stake in shares of Costco Wholesale in the 4th quarter valued at about $35,000. 68.48% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. TD Cowen raised their target price on Costco Wholesale from $975.00 to $1,090.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Oppenheimer reiterated an “outperform” rating and set a $1,075.00 price target (up previously from $980.00) on shares of Costco Wholesale in a research note on Tuesday, December 10th. Cowen reiterated a “buy” rating on shares of Costco Wholesale in a research note on Friday, March 7th. Truist Financial lifted their price target on Costco Wholesale from $935.00 to $995.00 and gave the company a “hold” rating in a research note on Friday, March 7th. Finally, Stifel Nicolaus lifted their price target on Costco Wholesale from $1,000.00 to $1,075.00 and gave the company a “buy” rating in a research note on Thursday, February 6th. Nine equities research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $1,030.43.

Costco Wholesale Trading Up 1.5 %

Shares of COST stock opened at $903.92 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. Costco Wholesale Co. has a 52-week low of $697.27 and a 52-week high of $1,078.24. The company has a market capitalization of $401.25 billion, a PE ratio of 53.08, a price-to-earnings-growth ratio of 6.15 and a beta of 0.81. The business’s fifty day moving average is $989.80 and its 200 day moving average is $944.47.

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

Costco Wholesale Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 21st. Investors of record on Friday, February 7th were given a $1.16 dividend. The ex-dividend date was Friday, February 7th. This represents a $4.64 dividend on an annualized basis and a dividend yield of 0.51%. Costco Wholesale’s dividend payout ratio (DPR) is presently 27.09%.

Insider Buying and Selling

In related news, CEO Roland Michael Vachris sold 3,600 shares of the stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $931.00, for a total value of $3,351,600.00. Following the transaction, the chief executive officer now owns 41,077 shares of the company’s stock, valued at $38,242,687. This represents a 8.06 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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.