Coastline Trust Co Trims Holdings in Costco Wholesale Corporation (NASDAQ:COST)

Coastline Trust Co trimmed its position in Costco Wholesale Corporation (NASDAQ:COST) by 0.1% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,691 shares of the retailer’s stock after selling 14 shares during the period. Costco Wholesale comprises about 1.1% of Coastline Trust Co’s investment portfolio, making the stock its 24th largest position. Coastline Trust Co’s holdings in Costco Wholesale were worth $9,166,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in COST. May Barnhard Investments LLC acquired a new position in shares of Costco Wholesale during the 4th quarter valued at about $485,000. Brighton Jones LLC increased its stake in shares of Costco Wholesale by 12.3% during the 4th quarter. Brighton Jones LLC now owns 19,825 shares of the retailer’s stock valued at $18,165,000 after acquiring an additional 2,172 shares during the last quarter. Revolve Wealth Partners LLC increased its stake in shares of Costco Wholesale by 13.1% during the 4th quarter. Revolve Wealth Partners LLC now owns 1,123 shares of the retailer’s stock valued at $1,029,000 after acquiring an additional 130 shares during the last quarter. SOA Wealth Advisors LLC. increased its stake in shares of Costco Wholesale by 33.3% during the 4th quarter. SOA Wealth Advisors LLC. now owns 188 shares of the retailer’s stock valued at $172,000 after acquiring an additional 47 shares during the last quarter. Finally, Bank Pictet & Cie Europe AG increased its stake in shares of Costco Wholesale by 45.0% during the 4th 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 during the last quarter. 68.48% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, EVP Patrick J. Callans sold 3,000 shares of the firm’s stock in a transaction on Monday, June 9th. The stock was sold at an average price of $1,002.77, for a total transaction of $3,008,310.00. Following the transaction, the executive vice president directly owned 58,543 shares of the company’s stock, valued at approximately $58,705,164.11. This trade represents a 4.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Susan L. Decker sold 547 shares of the firm’s stock in a transaction dated Wednesday, June 18th. The shares were sold at an average price of $980.00, for a total value of $536,060.00. Following the transaction, the director directly owned 11,531 shares of the company’s stock, valued at $11,300,380. This represents a 4.53% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 9,547 shares of company stock valued at $9,496,950 over the last three months. 0.18% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

COST has been the subject of a number of research analyst reports. Robert W. Baird upped 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. Truist Financial increased their target price on shares of Costco Wholesale from $995.00 to $1,042.00 and gave the stock a “hold” rating in a research report on Friday, May 30th. Wall Street Zen raised shares of Costco Wholesale from a “hold” rating to a “buy” rating in a research report on Friday, June 6th. Cowen reissued a “buy” rating on shares of Costco Wholesale in a research report on Friday, March 7th. Finally, JPMorgan Chase & Co. increased their target price on shares of Costco Wholesale from $1,065.00 to $1,070.00 and gave the stock an “overweight” rating in a research report on Friday, March 7th. Nine equities research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company. Based on data from MarketBeat, Costco Wholesale currently has an average rating of “Moderate Buy” and a consensus price target of $1,034.79.

Costco Wholesale Price Performance

Shares of NASDAQ COST opened at $982.36 on Thursday. Costco Wholesale Corporation has a 1-year low of $793.00 and a 1-year high of $1,078.24. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.02 and a quick ratio of 0.52. The business’s fifty day moving average price is $1,004.80 and its two-hundred day moving average price is $981.10. The firm has a market capitalization of $435.66 billion, a PE ratio of 55.72, a P/E/G ratio of 6.13 and a beta of 0.97.

Costco Wholesale (NASDAQ:COST) last issued its earnings results on Thursday, May 29th. The retailer reported $4.28 earnings per share for the quarter, topping 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 return on equity of 30.48% and a net margin of 2.92%. The firm’s revenue for the quarter was up 8.0% on a year-over-year basis. During the same period last year, the company earned $3.78 earnings per share. On average, research analysts expect that Costco Wholesale Corporation will post 18.03 EPS for the current year.

Costco Wholesale Increases Dividend

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

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.