Venturi Wealth Management LLC lowered its holdings in Costco Wholesale Co. (NASDAQ:COST) by 6.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,689 shares of the retailer’s stock after selling 330 shares during the quarter. Venturi Wealth Management LLC’s holdings in Costco Wholesale were worth $1,378,000 as of its most recent filing with the SEC.
A number of other institutional investors have also added to or reduced their stakes in the business. Cordasco Financial Network purchased a new position in shares of Costco Wholesale in the fourth quarter valued at $25,000. Horan Capital Advisors LLC. purchased a new stake in Costco Wholesale during the 3rd quarter worth about $31,000. Cerebellum GP LLC purchased a new stake in Costco Wholesale in the 3rd quarter valued at about $32,000. Farmers & Merchants Trust Co of Chambersburg PA grew its holdings in Costco Wholesale by 164.3% in the 3rd quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 111 shares of the retailer’s stock valued at $32,000 after buying an additional 69 shares during the period. Finally, Princeton Global Asset Management LLC grew its holdings in Costco Wholesale by 88.6% in the 2nd quarter. Princeton Global Asset Management LLC now owns 132 shares of the retailer’s stock valued at $35,000 after buying an additional 62 shares during the period. 70.01% of the stock is owned by institutional investors.
Several analysts have commented on COST shares. Guggenheim restated a “hold” rating on shares of Costco Wholesale in a report on Thursday, October 10th. Edward Jones cut Costco Wholesale from a “buy” rating to a “hold” rating in a report on Tuesday, October 15th. Nomura restated a “hold” rating and issued a $300.00 price target on shares of Costco Wholesale in a report on Monday, January 6th. Morgan Stanley lifted their price target on Costco Wholesale from $265.00 to $290.00 and gave the company an “equal weight” rating in a report on Friday, December 13th. Finally, Telsey Advisory Group lifted their price target on Costco Wholesale from $305.00 to $315.00 and gave the company an “outperform” rating in a report on Friday, October 4th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and fifteen have given a buy rating to the company’s stock. Costco Wholesale currently has an average rating of “Buy” and an average price target of $302.05.
Costco Wholesale (NASDAQ:COST) last released its quarterly earnings data on Thursday, December 12th. The retailer reported $1.73 earnings per share for the quarter, beating the consensus estimate of $1.71 by $0.02. The business had revenue of $37.04 billion for the quarter, compared to analyst estimates of $37.40 billion. Costco Wholesale had a return on equity of 24.22% and a net margin of 2.42%. The company’s revenue was up 5.6% compared to the same quarter last year. During the same period in the previous year, the company posted $1.61 EPS. On average, research analysts forecast that Costco Wholesale Co. will post 8.61 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 21st. Stockholders of record on Friday, February 7th will be paid a $0.65 dividend. This represents a $2.60 annualized dividend and a dividend yield of 0.84%. The ex-dividend date of this dividend is Thursday, February 6th. Costco Wholesale’s dividend payout ratio is currently 31.75%.
In related news, EVP Russell D. Miller sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $302.83, for a total transaction of $302,830.00. Following the transaction, the executive vice president now directly owns 1 shares of the company’s stock, valued at approximately $302.83. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Joseph P. Portera sold 14,095 shares of the business’s stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $299.52, for a total value of $4,221,734.40. Following the transaction, the vice president now directly owns 6,211 shares in the company, valued at $1,860,318.72. The disclosure for this sale can be found here. Insiders sold a total of 30,313 shares of company stock worth $9,099,357 over the last ninety days. Corporate insiders own 0.22% of the company’s stock.
Costco Wholesale Profile
Costco Wholesale Corporation, together with its subsidiaries, operates membership warehouses. It offers branded and private-label products in a range of merchandise categories. The company provides dry and packaged foods, and groceries; snack foods, candies, alcoholic and nonalcoholic beverages, and cleaning supplies; appliances, electronics, health and beauty aids, hardware, and garden and patio products; meat, bakery, deli, and produces; and apparel and small appliances.
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