Mattern Capital Management LLC Decreases Stock Position in Costco Wholesale Corporation (NASDAQ:COST)

Mattern Capital Management LLC lowered its position in Costco Wholesale Corporation (NASDAQ:COST) by 7.0% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 14,083 shares of the retailer’s stock after selling 1,066 shares during the period. Costco Wholesale comprises approximately 1.7% of Mattern Capital Management LLC’s holdings, making the stock its 4th largest position. Mattern Capital Management LLC’s holdings in Costco Wholesale were worth $13,320,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. May Barnhard Investments LLC purchased a new stake in Costco Wholesale during the 4th quarter valued at approximately $485,000. Brighton Jones LLC lifted its holdings in shares of Costco Wholesale by 12.3% in the fourth 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 in the last quarter. Revolve Wealth Partners LLC boosted its position in shares of Costco Wholesale by 13.1% during the fourth quarter. Revolve Wealth Partners LLC now owns 1,123 shares of the retailer’s stock worth $1,029,000 after acquiring an additional 130 shares during the last quarter. SOA Wealth Advisors LLC. grew its stake in Costco Wholesale by 33.3% during the fourth quarter. SOA Wealth Advisors LLC. now owns 188 shares of the retailer’s stock valued at $172,000 after acquiring an additional 47 shares in the last quarter. Finally, Bank Pictet & Cie Europe AG grew its stake in Costco Wholesale by 45.0% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 117,254 shares of the retailer’s stock valued at $107,436,000 after acquiring an additional 36,384 shares in the last quarter. Institutional investors own 68.48% of the company’s stock.

Insider Activity at Costco Wholesale

In other Costco Wholesale news, EVP Pierre Riel sold 2,000 shares of the company’s stock in a transaction on Friday, June 6th. The stock was sold at an average price of $1,014.15, for a total value of $2,028,300.00. Following the completion of the sale, the executive vice president now directly owns 8,210 shares in the company, valued at approximately $8,326,171.50. This represents a 19.59% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Susan L. Decker sold 547 shares of the stock in a transaction on Wednesday, June 18th. The stock was sold at an average price of $980.00, for a total value of $536,060.00. Following the transaction, the director now directly owns 11,531 shares in the company, valued at $11,300,380. The trade was a 4.53% decrease in their position. The disclosure for this sale can be found here. Insiders sold 9,547 shares of company stock worth $9,496,950 in the last 90 days. 0.18% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

COST has been the topic of several research analyst reports. Mizuho began coverage on shares of Costco Wholesale in a research note on Friday, April 11th. They issued a “neutral” rating and a $975.00 price target on the stock. Wall Street Zen raised Costco Wholesale from a “hold” rating to a “buy” rating in a report on Friday, June 6th. Sanford C. Bernstein reissued an “outperform” rating on shares of Costco Wholesale in a research note on Friday, March 7th. Loop Capital cut their price target on Costco Wholesale from $1,115.00 to $1,110.00 and set a “buy” rating for the company in a report on Thursday, May 29th. Finally, Truist Financial lifted their price objective on Costco Wholesale from $995.00 to $1,042.00 and gave the stock a “hold” rating in a research note on Friday, May 30th. Nine research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $1,034.79.

Costco Wholesale Stock Down 1.5%

Shares of NASDAQ COST opened at $986.54 on Thursday. Costco Wholesale Corporation has a 1 year low of $793.00 and a 1 year high of $1,078.24. The firm has a 50-day simple moving average of $1,004.32 and a two-hundred day simple moving average of $981.29. The company has a market cap of $437.51 billion, a P/E ratio of 55.96, a PEG ratio of 5.92 and a beta of 1.00. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.02 and a quick ratio of 0.52.

Costco Wholesale (NASDAQ:COST) last released its earnings results on Thursday, May 29th. The retailer reported $4.28 earnings per share for the quarter, topping analysts’ consensus estimates of $4.24 by $0.04. Costco Wholesale had a return on equity of 30.48% and a net margin of 2.92%. The business had revenue of $63.21 billion for the quarter, compared to analyst estimates of $62.93 billion. During the same quarter last year, the firm posted $3.78 earnings per share. The business’s revenue was up 8.0% compared to the same quarter last year. Research analysts anticipate that Costco Wholesale Corporation will post 18.03 earnings per share for the current year.

Costco Wholesale Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 16th. Investors of record on Friday, May 2nd were paid a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 0.53%. The ex-dividend date of this dividend was Friday, May 2nd. This is an increase from Costco Wholesale’s previous quarterly dividend of $1.16. Costco Wholesale’s dividend payout ratio (DPR) is currently 29.50%.

About Costco Wholesale

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.