Everence Capital Management Inc. Makes New $3.14 Million Investment in Costco Wholesale Co. (NASDAQ:COST)

Everence Capital Management Inc. bought a new position in Costco Wholesale Co. (NASDAQ:COST) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 8,903 shares of the retailer’s stock, valued at approximately $3,138,000.

Several other institutional investors have also bought and sold shares of the business. Trust Co. of Toledo NA OH increased its holdings in shares of Costco Wholesale by 4.7% in the 1st quarter. Trust Co. of Toledo NA OH now owns 5,139 shares of the retailer’s stock worth $1,811,000 after purchasing an additional 230 shares in the last quarter. Campbell Capital Management Inc. bought a new stake in shares of Costco Wholesale in the 1st quarter worth $1,164,000. TrimTabs Asset Management LLC increased its holdings in shares of Costco Wholesale by 48.2% in the 1st quarter. TrimTabs Asset Management LLC now owns 7,301 shares of the retailer’s stock worth $2,570,000 after purchasing an additional 2,375 shares in the last quarter. Security National Bank increased its holdings in shares of Costco Wholesale by 30.0% in the 1st quarter. Security National Bank now owns 845 shares of the retailer’s stock worth $298,000 after purchasing an additional 195 shares in the last quarter. Finally, Modus Advisors LLC increased its holdings in shares of Costco Wholesale by 7.2% in the 1st quarter. Modus Advisors LLC now owns 920 shares of the retailer’s stock worth $324,000 after purchasing an additional 62 shares in the last quarter. 67.21% of the stock is owned by institutional investors and hedge funds.

Shares of Costco Wholesale stock traded up $2.69 during trading hours on Thursday, hitting $361.50. The company’s stock had a trading volume of 86,503 shares, compared to its average volume of 3,050,630. The business has a 50 day moving average price of $338.71 and a two-hundred day moving average price of $360.45. Costco Wholesale Co. has a 12-month low of $293.84 and a 12-month high of $393.15. The company has a market cap of $159.98 billion, a PE ratio of 37.11, a PEG ratio of 4.17 and a beta of 0.66. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.53 and a current ratio of 0.98.

Costco Wholesale (NASDAQ:COST) last posted its earnings results on Wednesday, March 3rd. The retailer reported $2.14 EPS for the quarter, missing analysts’ consensus estimates of $2.45 by ($0.31). The firm had revenue of $44.77 billion during the quarter, compared to analysts’ expectations of $43.71 billion. Costco Wholesale had a return on equity of 24.50% and a net margin of 2.50%. Costco Wholesale’s quarterly revenue was up 14.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.10 earnings per share. As a group, research analysts anticipate that Costco Wholesale Co. will post 9.95 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, February 19th. Investors of record on Friday, February 5th were given a $0.70 dividend. The ex-dividend date was Thursday, February 4th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 0.77%. Costco Wholesale’s dividend payout ratio is currently 31.64%.

In other Costco Wholesale news, Director Susan L. Decker sold 694 shares of the business’s stock in a transaction that occurred on Wednesday, January 27th. The stock was sold at an average price of $363.35, for a total transaction of $252,164.90. Following the sale, the director now directly owns 19,047 shares of the company’s stock, valued at $6,920,727.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Roland Michael Vachris sold 4,300 shares of the business’s stock in a transaction that occurred on Monday, March 22nd. The stock was sold at an average price of $334.30, for a total value of $1,437,490.00. Following the sale, the vice president now directly owns 15,602 shares in the company, valued at $5,215,748.60. The disclosure for this sale can be found here. Insiders sold 15,208 shares of company stock worth $5,433,062 over the last quarter. 0.22% of the stock is owned by company insiders.

COST has been the subject of several research analyst reports. Telsey Advisory Group cut their price objective on Costco Wholesale from $430.00 to $375.00 and set an “outperform” rating for the company in a report on Friday, March 5th. Oppenheimer lifted their price objective on Costco Wholesale from $370.00 to $400.00 and gave the stock an “outperform” rating in a report on Thursday. Royal Bank of Canada cut their price objective on Costco Wholesale from $435.00 to $399.00 and set an “outperform” rating for the company in a report on Thursday, March 11th. Wells Fargo & Company lifted their price objective on Costco Wholesale from $370.00 to $400.00 and gave the stock an “overweight” rating in a report on Thursday. Finally, Zacks Investment Research raised Costco Wholesale from a “hold” rating to a “buy” rating and set a $372.00 price objective for the company in a report on Tuesday, February 2nd. Eight research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $383.72.

About Costco Wholesale

Costco Wholesale Corporation, together with its subsidiaries, engages in the operation of membership warehouses in the United States, Puerto Rico, Canada, the United Kingdom, Mexico, Japan, Korea, Australia, Spain, France, Iceland, China, and Taiwan. It offers branded and private-label products in a range of merchandise categories.

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Institutional Ownership by Quarter for Costco Wholesale (NASDAQ:COST)

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