Costco Wholesale Corporation $COST is Mccarter Private Wealth Services LLC’s 7th Largest Position

Mccarter Private Wealth Services LLC cut its stake in Costco Wholesale Corporation (NASDAQ:COST) by 3.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,429 shares of the retailer’s stock after selling 218 shares during the quarter. Costco Wholesale accounts for about 3.4% of Mccarter Private Wealth Services LLC’s portfolio, making the stock its 7th biggest position. Mccarter Private Wealth Services LLC’s holdings in Costco Wholesale were worth $5,135,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Monetary Management Group Inc. grew its holdings in shares of Costco Wholesale by 0.4% in the first quarter. Monetary Management Group Inc. now owns 4,230 shares of the retailer’s stock valued at $4,001,000 after acquiring an additional 15 shares in the last quarter. Gould Capital LLC grew its holdings in shares of Costco Wholesale by 29.4% in the first quarter. Gould Capital LLC now owns 330 shares of the retailer’s stock valued at $312,000 after acquiring an additional 75 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in shares of Costco Wholesale by 1.8% in the first quarter. Ameriprise Financial Inc. now owns 1,544,958 shares of the retailer’s stock valued at $1,464,850,000 after acquiring an additional 27,491 shares in the last quarter. Norinchukin Bank The grew its holdings in shares of Costco Wholesale by 5.3% in the first quarter. Norinchukin Bank The now owns 78,766 shares of the retailer’s stock valued at $74,495,000 after acquiring an additional 3,994 shares in the last quarter. Finally, CW Advisors LLC grew its holdings in Costco Wholesale by 11.0% during the first quarter. CW Advisors LLC now owns 62,746 shares of the retailer’s stock valued at $59,277,000 after purchasing an additional 6,243 shares during the period. 68.48% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, EVP Patrick J. Callans sold 3,000 shares of the business’s stock in a transaction dated 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 owned 58,543 shares in the company, valued at $58,705,164.11. The trade was a 4.87% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Yoram Rubanenko sold 4,000 shares of the business’s stock in a transaction dated Monday, July 14th. The shares were sold at an average price of $974.96, for a total value of $3,899,840.00. Following the transaction, the executive vice president owned 5,774 shares in the company, valued at approximately $5,629,419.04. This represents a 40.92% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 9,547 shares of company stock worth $9,472,510 in the last quarter. 0.18% of the stock is currently owned by company insiders.

Analyst Ratings Changes

COST has been the subject of several research reports. Telsey Advisory Group reissued an “outperform” rating and set a $1,100.00 price objective on shares of Costco Wholesale in a report on Monday, August 4th. Wall Street Zen raised Costco Wholesale from a “hold” rating to a “buy” rating in a report on Friday, June 6th. Morgan Stanley increased their price objective on Costco Wholesale from $1,150.00 to $1,225.00 and gave the company an “overweight” rating in a report on Friday, May 30th. 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, Erste Group Bank lowered Costco Wholesale from a “buy” rating to a “hold” rating in a report on Tuesday, August 5th. Seventeen investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $1,050.00.

Costco Wholesale Stock Performance

NASDAQ:COST opened at $969.68 on Friday. The business has a 50 day moving average of $970.48 and a 200 day moving average of $985.89. The company has a market capitalization of $430.03 billion, a price-to-earnings ratio of 55.00, a PEG ratio of 6.18 and a beta of 0.96. Costco Wholesale Corporation has a 1-year low of $867.16 and a 1-year high of $1,078.23. 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 quarterly earnings data on Thursday, May 29th. The retailer reported $4.28 EPS 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 the consensus estimate of $62.93 billion. Costco Wholesale had a return on equity of 30.48% and a net margin of 2.92%.The company’s quarterly revenue was up 8.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.78 earnings per share. On average, sell-side analysts predict that Costco Wholesale Corporation will post 18.03 earnings per share for the current fiscal year.

Costco Wholesale Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Friday, August 1st were issued a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date was Friday, August 1st. Costco Wholesale’s payout ratio is currently 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.