Rockland Trust Co. Trims Position in Costco Wholesale Co. (NASDAQ:COST)

Rockland Trust Co. cut its holdings in shares of Costco Wholesale Co. (NASDAQ:COST) by 21.1% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 866 shares of the retailer’s stock after selling 231 shares during the quarter. Rockland Trust Co.’s holdings in Costco Wholesale were worth $819,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of COST. Investment Management Corp VA ADV acquired a new stake in shares of Costco Wholesale during the 4th quarter worth approximately $25,000. Synergy Investment Management LLC acquired a new stake in shares of Costco Wholesale during the 4th quarter worth approximately $31,000. NewSquare Capital LLC grew its stake in shares of Costco Wholesale by 250.0% during the 4th quarter. NewSquare Capital LLC now owns 35 shares of the retailer’s stock worth $32,000 after purchasing an additional 25 shares during the period. Clear Investment Research LLC grew its stake in shares of Costco Wholesale by 22.2% during the 4th quarter. Clear Investment Research LLC now owns 55 shares of the retailer’s stock worth $51,000 after purchasing an additional 10 shares during the period. Finally, Capital A Wealth Management LLC acquired a new stake in shares of Costco Wholesale during the 4th quarter worth approximately $58,000. 68.48% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Wall Street Zen raised shares of Costco Wholesale from a “hold” rating to a “buy” rating in a research note on Friday, June 6th. Cowen reissued a “buy” rating on shares of Costco Wholesale in a research note on Friday, March 7th. Barclays lifted their price target on shares of Costco Wholesale from $940.00 to $980.00 and gave the company an “equal weight” rating in a research note on Monday, March 10th. Stifel Nicolaus set a $1,035.00 price target on shares of Costco Wholesale in a research note on Thursday, May 29th. Finally, Loop Capital dropped their price target on shares of Costco Wholesale from $1,115.00 to $1,110.00 and set a “buy” rating on the stock in a research note on Thursday, May 29th. Nine research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Costco Wholesale has an average rating of “Moderate Buy” and a consensus price target of $1,035.32.

Costco Wholesale Stock Down 1.2%

NASDAQ COST opened at $990.21 on Friday. Costco Wholesale Co. has a 52 week low of $793.00 and a 52 week high of $1,078.24. The company has a quick ratio of 0.43, a current ratio of 0.98 and a debt-to-equity ratio of 0.23. The business’s fifty day simple moving average is $1,000.43 and its 200-day simple moving average is $980.83. The firm has a market cap of $439.14 billion, a PE ratio of 58.15, a P/E/G ratio of 6.15 and a beta of 1.00.

Costco Wholesale (NASDAQ:COST) last issued its quarterly earnings data on Thursday, May 29th. The retailer reported $4.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.24 by $0.04. The firm had revenue of $63.21 billion for the quarter, compared to analyst estimates of $62.93 billion. Costco Wholesale had a net margin of 2.93% and a return on equity of 32.31%. Costco Wholesale’s revenue was up 8.0% on a year-over-year basis. During the same period in the previous year, the firm earned $3.78 EPS. As a group, equities analysts anticipate that Costco Wholesale Co. will post 18.03 earnings per share for the current year.

Costco Wholesale Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 16th. Investors of record on Friday, May 2nd were issued a $1.30 dividend. This is a positive change from Costco Wholesale’s previous quarterly dividend of $1.16. This represents a $5.20 annualized dividend and a yield of 0.53%. The ex-dividend date was Friday, May 2nd. Costco Wholesale’s payout ratio is 29.50%.

Insider Activity at Costco Wholesale

In related news, EVP Claudine Adamo sold 900 shares of the business’s stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $922.56, for a total value of $830,304.00. Following the sale, the executive vice president now directly owns 6,987 shares in the company, valued at approximately $6,445,926.72. The trade was a 11.41% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Gary Millerchip sold 1,100 shares of Costco Wholesale stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $940.01, for a total value of $1,034,011.00. Following the completion of the transaction, the executive vice president now directly owns 11,165 shares of the company’s stock, valued at approximately $10,495,211.65. This represents a 8.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 11,000 shares of company stock worth $10,825,205. Company insiders own 0.18% of the company’s stock.

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.