Congress Asset Management Co. MA Cuts Position in Costco Wholesale Co. (NASDAQ:COST)

Congress Asset Management Co. MA decreased its position in Costco Wholesale Co. (NASDAQ:COSTFree Report) by 0.3% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 284,911 shares of the retailer’s stock after selling 860 shares during the period. Costco Wholesale comprises 1.5% of Congress Asset Management Co. MA’s portfolio, making the stock its 5th biggest position. Congress Asset Management Co. MA owned about 0.06% of Costco Wholesale worth $188,064,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the company. Envestnet Portfolio Solutions Inc. bought a new stake in shares of Costco Wholesale during the 3rd quarter worth approximately $11,793,000. Envestnet Asset Management Inc. raised its stake in shares of Costco Wholesale by 19.6% during the 3rd quarter. Envestnet Asset Management Inc. now owns 633,702 shares of the retailer’s stock worth $358,017,000 after purchasing an additional 103,671 shares in the last quarter. Meridian Wealth Advisors LLC raised its stake in shares of Costco Wholesale by 2.3% during the 3rd quarter. Meridian Wealth Advisors LLC now owns 9,858 shares of the retailer’s stock worth $5,569,000 after purchasing an additional 222 shares in the last quarter. Mirabella Financial Services LLP raised its stake in shares of Costco Wholesale by 6.8% during the 3rd quarter. Mirabella Financial Services LLP now owns 1,817 shares of the retailer’s stock worth $1,027,000 after purchasing an additional 115 shares in the last quarter. Finally, Qtron Investments LLC raised its stake in shares of Costco Wholesale by 10.3% during the 3rd quarter. Qtron Investments LLC now owns 4,855 shares of the retailer’s stock worth $2,743,000 after purchasing an additional 455 shares in the last quarter. Institutional investors own 68.48% of the company’s stock.

Costco Wholesale Price Performance

Shares of COST stock traded up $9.71 on Friday, hitting $855.67. 1,395,485 shares of the company’s stock were exchanged, compared to its average volume of 1,735,517. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.94 and a quick ratio of 0.45. Costco Wholesale Co. has a 12 month low of $516.54 and a 12 month high of $856.18. The stock has a market cap of $379.34 billion, a P/E ratio of 53.02, a price-to-earnings-growth ratio of 5.66 and a beta of 0.79. The company has a 50 day moving average of $774.06 and a 200 day moving average of $723.29.

Costco Wholesale (NASDAQ:COSTGet Free Report) last announced its quarterly earnings data on Thursday, May 30th. The retailer reported $3.78 earnings per share for the quarter, topping the consensus estimate of $3.70 by $0.08. Costco Wholesale had a return on equity of 30.02% and a net margin of 2.83%. The business had revenue of $58.52 billion during the quarter, compared to the consensus estimate of $58.16 billion. During the same period in the prior year, the company earned $3.43 EPS. Costco Wholesale’s revenue for the quarter was up 9.1% on a year-over-year basis. On average, equities research analysts predict that Costco Wholesale Co. will post 15.96 EPS for the current year.

Costco Wholesale Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 10th. Investors of record on Friday, April 26th were given a dividend of $1.16 per share. This is an increase from Costco Wholesale’s previous quarterly dividend of $1.02. This represents a $4.64 annualized dividend and a dividend yield of 0.54%. The ex-dividend date of this dividend was Thursday, April 25th. Costco Wholesale’s dividend payout ratio is currently 28.75%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. StockNews.com upgraded Costco Wholesale from a “hold” rating to a “buy” rating in a research note on Sunday, June 2nd. Argus increased their price target on Costco Wholesale from $805.00 to $900.00 and gave the company a “buy” rating in a research note on Tuesday, May 28th. Citigroup increased their price target on Costco Wholesale from $710.00 to $800.00 and gave the company a “neutral” rating in a research note on Friday, May 31st. Barclays increased their price target on Costco Wholesale from $700.00 to $765.00 and gave the company an “equal weight” rating in a research note on Friday, May 31st. Finally, Oppenheimer increased their price target on Costco Wholesale from $850.00 to $905.00 and gave the company an “outperform” rating in a research note on Thursday, June 6th. Seven research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. According to data from MarketBeat.com, Costco Wholesale presently has a consensus rating of “Moderate Buy” and an average target price of $751.85.

Read Our Latest Report on COST

Insider Buying and Selling

In other Costco Wholesale news, EVP Russell D. Miller sold 785 shares of the stock in a transaction dated Wednesday, April 17th. The stock was sold at an average price of $722.86, for a total value of $567,445.10. Following the completion of the transaction, the executive vice president now directly owns 10,000 shares in the company, valued at $7,228,600. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.18% of the stock is owned by corporate insiders.

Costco Wholesale Profile

(Free Report)

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.

Read More

Want to see what other hedge funds are holding COST? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Costco Wholesale Co. (NASDAQ:COSTFree Report).

Institutional Ownership by Quarter for Costco Wholesale (NASDAQ:COST)

Receive News & Ratings for Costco Wholesale Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Costco Wholesale and related companies with MarketBeat.com's FREE daily email newsletter.