Costco Wholesale Corporation $COST Stake Decreased by MeadowBrook Investment Advisors LLC

MeadowBrook Investment Advisors LLC lessened its stake in Costco Wholesale Corporation (NASDAQ:COST) by 1.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,401 shares of the retailer’s stock after selling 57 shares during the period. Costco Wholesale accounts for about 3.1% of MeadowBrook Investment Advisors LLC’s portfolio, making the stock its 7th largest position. MeadowBrook Investment Advisors LLC’s holdings in Costco Wholesale were worth $3,367,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently added to or reduced their stakes in COST. Brighton Jones LLC increased its stake in Costco Wholesale by 12.3% in the 4th quarter. Brighton Jones LLC now owns 19,825 shares of the retailer’s stock worth $18,165,000 after buying an additional 2,172 shares during the period. Revolve Wealth Partners LLC increased its stake in Costco Wholesale by 13.1% in the 4th quarter. Revolve Wealth Partners LLC now owns 1,123 shares of the retailer’s stock worth $1,029,000 after buying an additional 130 shares during the period. Golden State Wealth Management LLC increased its stake in Costco Wholesale by 0.8% in the 1st quarter. Golden State Wealth Management LLC now owns 4,099 shares of the retailer’s stock worth $3,877,000 after buying an additional 31 shares during the period. Riverstone Advisors LLC increased its stake in Costco Wholesale by 5.1% in the 1st quarter. Riverstone Advisors LLC now owns 724 shares of the retailer’s stock worth $685,000 after buying an additional 35 shares during the period. Finally, Barnes Dennig Private Wealth Management LLC purchased a new position in Costco Wholesale in the 1st quarter worth about $64,000. Hedge funds and other institutional investors own 68.48% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on COST shares. Wolfe Research initiated coverage on shares of Costco Wholesale in a research note on Thursday, September 18th. They issued a “peer perform” rating on the stock. Roth Capital set a $907.00 target price on shares of Costco Wholesale and gave the company a “neutral” rating in a research report on Friday, September 26th. Evercore ISI cut their target price on shares of Costco Wholesale from $1,060.00 to $1,025.00 and set an “outperform” rating on the stock in a research report on Friday, September 26th. Truist Financial cut their target price on shares of Costco Wholesale from $1,042.00 to $1,033.00 and set a “hold” rating on the stock in a research report on Friday, September 26th. Finally, Argus raised their target price on shares of Costco Wholesale from $1,170.00 to $1,200.00 and gave the company a “buy” rating in a research report on Monday, September 29th. Nineteen investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Costco Wholesale has a consensus rating of “Moderate Buy” and an average target price of $1,068.15.

Costco Wholesale Stock Down 1.3%

NASDAQ:COST opened at $912.42 on Thursday. Costco Wholesale Corporation has a fifty-two week low of $867.34 and a fifty-two week high of $1,078.23. The stock has a market capitalization of $404.37 billion, a P/E ratio of 50.11, a P/E/G ratio of 5.61 and a beta of 0.98. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.55 and a current ratio of 1.03. The company’s 50-day simple moving average is $941.47 and its 200-day simple moving average is $971.27.

Costco Wholesale (NASDAQ:COST) last released its quarterly earnings results on Thursday, September 25th. The retailer reported $5.87 earnings per share for the quarter, beating analysts’ consensus estimates of $5.81 by $0.06. Costco Wholesale had a net margin of 2.94% and a return on equity of 30.09%. The business had revenue of $86.16 billion for the quarter, compared to analysts’ expectations of $86.01 billion. During the same period last year, the business earned $5.15 EPS. The company’s revenue was up 8.1% compared to the same quarter last year. On average, equities analysts anticipate that Costco Wholesale Corporation will post 18.03 earnings per share for the current fiscal year.

Costco Wholesale Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Friday, October 31st will be issued a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date is Friday, October 31st. Costco Wholesale’s dividend payout ratio (DPR) is currently 28.56%.

Insider Activity

In other news, EVP Teresa A. Jones sold 600 shares of the firm’s stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $992.05, for a total value of $595,230.00. Following the sale, the executive vice president directly owned 2,362 shares in the company, valued at approximately $2,343,222.10. This trade represents a 20.26% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Tiffany Marie Barbre sold 1,239 shares of Costco Wholesale stock in a transaction that occurred on Friday, October 24th. The stock was sold at an average price of $934.62, for a total transaction of $1,157,994.18. Following the completion of the sale, the insider owned 5,155 shares of the company’s stock, valued at $4,817,966.10. This trade represents a 19.38% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 7,920 shares of company stock valued at $7,373,175 over the last 90 days. 0.18% of the stock is currently owned by corporate 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.