Centric Wealth Management Reduces Stock Position in Costco Wholesale Co. (NASDAQ:COST)

Centric Wealth Management decreased its position in shares of Costco Wholesale Co. (NASDAQ:COST) by 4.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,033 shares of the retailer’s stock after selling 47 shares during the quarter. Centric Wealth Management’s holdings in Costco Wholesale were worth $735,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Northern Trust Corp lifted its stake in Costco Wholesale by 4.3% in the 3rd quarter. Northern Trust Corp now owns 5,134,947 shares of the retailer’s stock valued at $2,901,040,000 after buying an additional 210,586 shares in the last quarter. International Assets Investment Management LLC increased its position in Costco Wholesale by 61,693.5% during the 4th quarter. International Assets Investment Management LLC now owns 3,105,124 shares of the retailer’s stock worth $2,049,630,000 after purchasing an additional 3,100,099 shares in the last quarter. Fisher Asset Management LLC lifted its stake in shares of Costco Wholesale by 3.2% during the 4th quarter. Fisher Asset Management LLC now owns 2,794,480 shares of the retailer’s stock worth $1,844,581,000 after purchasing an additional 85,398 shares during the period. Wellington Management Group LLP boosted its holdings in shares of Costco Wholesale by 0.9% during the third quarter. Wellington Management Group LLP now owns 2,689,514 shares of the retailer’s stock worth $1,519,468,000 after purchasing an additional 24,274 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Costco Wholesale by 3.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,657,994 shares of the retailer’s stock valued at $1,754,489,000 after purchasing an additional 77,345 shares during the period. Institutional investors and hedge funds own 68.48% of the company’s stock.

Costco Wholesale Stock Down 1.0 %

Shares of NASDAQ COST traded down $7.57 during midday trading on Wednesday, reaching $763.74. 1,030,722 shares of the company’s stock were exchanged, compared to its average volume of 2,024,366. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.43 and a current ratio of 0.93. Costco Wholesale Co. has a 52-week low of $476.75 and a 52-week high of $787.08. The business’s fifty day moving average price is $731.22 and its two-hundred day moving average price is $675.97. The stock has a market capitalization of $338.72 billion, a PE ratio of 50.32, a price-to-earnings-growth ratio of 4.95 and a beta of 0.77.

Costco Wholesale (NASDAQ:COST) last released its earnings results on Thursday, March 7th. The retailer reported $3.71 EPS for the quarter, beating the consensus estimate of $3.62 by $0.09. The company had revenue of $58.44 billion during the quarter, compared to analysts’ expectations of $59.11 billion. Costco Wholesale had a return on equity of 28.80% and a net margin of 2.73%. The business’s revenue was up 5.7% on a year-over-year basis. During the same period in the prior year, the business posted $3.30 EPS. Analysts forecast that Costco Wholesale Co. will post 15.84 EPS for the current year.

Costco Wholesale Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Stockholders of record on Friday, April 26th will be given a $1.16 dividend. The ex-dividend date is Thursday, April 25th. This represents a $4.64 annualized dividend and a dividend yield of 0.61%. This is an increase from Costco Wholesale’s previous quarterly dividend of $1.02. Costco Wholesale’s payout ratio is presently 30.35%.

Analysts Set New Price Targets

A number of analysts have issued reports on COST shares. StockNews.com lowered Costco Wholesale from a “buy” rating to a “hold” rating in a research note on Friday, April 12th. DA Davidson restated a “neutral” rating and issued a $680.00 target price on shares of Costco Wholesale in a report on Thursday, April 11th. Oppenheimer increased their price target on shares of Costco Wholesale from $760.00 to $805.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 5th. Loop Capital lowered their price objective on shares of Costco Wholesale from $830.00 to $820.00 and set a “buy” rating for the company in a research note on Thursday, April 11th. Finally, Citigroup increased their target price on Costco Wholesale from $630.00 to $710.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 23rd. Seven investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $694.48.

Insider Transactions at Costco Wholesale

In other Costco Wholesale news, Director Susan L. Decker sold 1,442 shares of the stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $723.48, for a total transaction of $1,043,258.16. Following the transaction, the director now owns 12,395 shares of the company’s stock, valued at approximately $8,967,534.60. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, EVP Claudine Adamo sold 1,500 shares of the business’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $714.83, for a total transaction of $1,072,245.00. Following the completion of the sale, the executive vice president now owns 6,695 shares of the company’s stock, valued at approximately $4,785,786.85. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Susan L. Decker sold 1,442 shares of the firm’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $723.48, for a total transaction of $1,043,258.16. Following the completion of the transaction, the director now directly owns 12,395 shares in the company, valued at approximately $8,967,534.60. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 3,727 shares of company stock valued at $2,682,948. Insiders own 0.18% of the company’s stock.

About Costco Wholesale

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.