Pitcairn Co. Sells 1,786 Shares of Costco Wholesale Corporation $COST

Pitcairn Co. lessened its stake in Costco Wholesale Corporation (NASDAQ:COST) by 18.2% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,052 shares of the retailer’s stock after selling 1,786 shares during the quarter. Costco Wholesale makes up about 0.5% of Pitcairn Co.’s holdings, making the stock its 29th largest position. Pitcairn Co.’s holdings in Costco Wholesale were worth $7,971,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of COST. Bulwark Capital Corp purchased a new position in Costco Wholesale during the 2nd quarter worth $25,000. Soundwatch Capital LLC lifted its position in shares of Costco Wholesale by 635.7% during the second quarter. Soundwatch Capital LLC now owns 2,553 shares of the retailer’s stock valued at $25,000 after purchasing an additional 2,206 shares in the last quarter. LFA Lugano Financial Advisors SA purchased a new position in Costco Wholesale during the second quarter worth about $31,000. Anderson Financial Strategies LLC grew its position in Costco Wholesale by 900.0% in the 1st quarter. Anderson Financial Strategies LLC now owns 40 shares of the retailer’s stock worth $38,000 after purchasing an additional 36 shares in the last quarter. Finally, Financial Connections Group Inc. increased its stake in Costco Wholesale by 975.0% in the 2nd quarter. Financial Connections Group Inc. now owns 43 shares of the retailer’s stock valued at $42,000 after buying an additional 39 shares during the last quarter. Hedge funds and other institutional investors own 68.48% of the company’s stock.

Insider Buying and Selling

In related news, EVP William Richard Wilcox sold 2,400 shares of the stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $930.13, for a total transaction of $2,232,312.00. Following the sale, the executive vice president owned 2,000 shares of the company’s stock, valued at approximately $1,860,260. This represents a 54.55% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Claudine Adamo sold 2,700 shares of the firm’s stock in a transaction dated Friday, October 24th. The stock was sold at an average price of $935.68, for a total value of $2,526,336.00. Following the completion of the transaction, the executive vice president owned 6,851 shares of the company’s stock, valued at approximately $6,410,343.68. This represents a 28.27% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 9,720 shares of company stock worth $9,010,257. Insiders own 0.18% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on COST. Sanford C. Bernstein upped their target price on Costco Wholesale from $1,134.00 to $1,146.00 and gave the company an “outperform” rating in a report on Friday. UBS Group restated a “buy” rating on shares of Costco Wholesale in a research note on Friday. Gordon Haskett lowered their target price on Costco Wholesale from $1,150.00 to $1,100.00 and set a “buy” rating on the stock in a research note on Monday, December 1st. Hovde Group began coverage on shares of Costco Wholesale in a report on Tuesday, November 18th. They issued a “market perform” rating and a $16.00 price target on the stock. Finally, Robert W. Baird decreased their price objective on shares of Costco Wholesale from $1,125.00 to $1,000.00 and set an “outperform” rating for the company in a report on Friday. Eighteen analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company. According to MarketBeat.com, Costco Wholesale has an average rating of “Moderate Buy” and an average target price of $998.70.

Costco Wholesale Trading Down 0.0%

Shares of Costco Wholesale stock opened at $884.47 on Friday. The stock has a market capitalization of $392.67 billion, a P/E ratio of 47.37, a P/E/G ratio of 6.00 and a beta of 1.00. Costco Wholesale Corporation has a 52-week low of $867.12 and a 52-week high of $1,078.23. 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 stock’s 50-day simple moving average is $916.22 and its 200 day simple moving average is $950.64.

Costco Wholesale (NASDAQ:COST) last posted its earnings results on Thursday, December 11th. The retailer reported $4.34 earnings per share for the quarter, topping the consensus estimate of $4.27 by $0.07. Costco Wholesale had a net margin of 2.96% and a return on equity of 30.16%. The firm had revenue of $67.31 billion during the quarter, compared to the consensus estimate of $67.03 billion. During the same quarter last year, the company earned $4.04 earnings per share. The company’s revenue was up 8.3% on a year-over-year basis. As a group, research analysts anticipate that Costco Wholesale Corporation will post 18.03 EPS for the current year.

Costco Wholesale Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 14th. Shareholders of record on Friday, October 31st were issued a dividend of $1.30 per share. The ex-dividend date of this dividend was Friday, October 31st. This represents a $5.20 dividend on an annualized basis and a yield of 0.6%. Costco Wholesale’s payout ratio is presently 28.56%.

Costco Wholesale 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.