Stockman Wealth Management Inc. Lowers Stock Position in Costco Wholesale Co. (NASDAQ:COST)

Stockman Wealth Management Inc. decreased its position in shares of Costco Wholesale Co. (NASDAQ:COST) by 11.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,464 shares of the retailer’s stock after selling 306 shares during the quarter. Stockman Wealth Management Inc.’s holdings in Costco Wholesale were worth $2,330,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Investment Management Corp VA ADV purchased a new stake in Costco Wholesale in the 4th quarter valued at approximately $25,000. Synergy Investment Management LLC acquired a new position in Costco Wholesale in the 4th quarter valued at $31,000. NewSquare Capital LLC raised its holdings in Costco Wholesale by 250.0% in the 4th quarter. NewSquare Capital LLC now owns 35 shares of the retailer’s stock valued at $32,000 after acquiring an additional 25 shares during the last quarter. Clear Investment Research LLC increased its holdings 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 buying an additional 10 shares during the last quarter. Finally, Capital A Wealth Management LLC acquired a new stake in shares of Costco Wholesale during the 4th quarter worth $58,000. Hedge funds and other institutional investors own 68.48% of the company’s stock.

Insider Activity

In other Costco Wholesale 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 transaction, the executive vice president now directly owns 6,987 shares in the company, valued at $6,445,926.72. The trade was a 11.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Gary Millerchip sold 1,100 shares of the business’s stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $940.01, for a total transaction of $1,034,011.00. Following the completion of the transaction, the executive vice president now owns 11,165 shares in the company, valued at approximately $10,495,211.65. This trade represents a 8.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 11,000 shares of company stock worth $10,825,205. Corporate insiders own 0.18% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on COST. Telsey Advisory Group reissued an “outperform” rating and issued a $1,100.00 price objective on shares of Costco Wholesale in a research report on Tuesday, June 3rd. Truist Financial raised their price target on shares of Costco Wholesale from $995.00 to $1,042.00 and gave the company a “hold” rating in a research note on Friday, May 30th. Robert W. Baird raised their price objective on shares of Costco Wholesale from $1,075.00 to $1,125.00 and gave the company an “outperform” rating in a research note on Friday, March 7th. Cowen restated a “buy” rating on shares of Costco Wholesale in a report on Friday, March 7th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Costco Wholesale from $1,065.00 to $1,070.00 and gave the stock an “overweight” rating in a research note on Friday, March 7th. Nine investment analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the stock. According to data from MarketBeat.com, Costco Wholesale presently has an average rating of “Moderate Buy” and a consensus price target of $1,035.32.

Costco Wholesale Stock Performance

NASDAQ COST opened at $984.36 on Tuesday. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.98 and a quick ratio of 0.43. The firm has a market capitalization of $436.54 billion, a price-to-earnings ratio of 57.80, a P/E/G ratio of 6.15 and a beta of 1.00. The company’s fifty day moving average is $1,001.94 and its two-hundred day moving average is $981.18. Costco Wholesale Co. has a 52-week low of $793.00 and a 52-week high of $1,078.24.

Costco Wholesale (NASDAQ:COST) last posted its quarterly earnings results on Thursday, May 29th. The retailer reported $4.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.24 by $0.04. The company 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%. The business’s quarterly revenue was up 8.0% on a year-over-year basis. During the same period last year, the business posted $3.78 EPS. Equities research analysts forecast that Costco Wholesale Co. will post 18.03 EPS for the current year.

Costco Wholesale Increases Dividend

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

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.