Hartford Investment Management Co. Cuts Stake in Costco Wholesale Co. (NASDAQ:COST)

Hartford Investment Management Co. decreased its position in shares of Costco Wholesale Co. (NASDAQ:COSTFree Report) by 1.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 29,831 shares of the retailer’s stock after selling 367 shares during the quarter. Costco Wholesale makes up about 0.7% of Hartford Investment Management Co.’s portfolio, making the stock its 20th biggest holding. Hartford Investment Management Co.’s holdings in Costco Wholesale were worth $19,691,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. B. Riley Wealth Advisors Inc. grew its holdings in shares of Costco Wholesale by 1.0% in the third quarter. B. Riley Wealth Advisors Inc. now owns 28,855 shares of the retailer’s stock valued at $16,302,000 after purchasing an additional 273 shares in the last quarter. Keating Investment Counselors Inc. boosted its holdings in Costco Wholesale by 43.0% in the third quarter. Keating Investment Counselors Inc. now owns 2,643 shares of the retailer’s stock valued at $1,493,000 after purchasing an additional 795 shares in the last quarter. Rice Partnership LLC raised its stake in Costco Wholesale by 21.0% during the 3rd quarter. Rice Partnership LLC now owns 11,741 shares of the retailer’s stock worth $6,633,000 after acquiring an additional 2,038 shares in the last quarter. Cyndeo Wealth Partners LLC lifted its holdings in shares of Costco Wholesale by 79.6% in the 4th quarter. Cyndeo Wealth Partners LLC now owns 10,358 shares of the retailer’s stock valued at $6,837,000 after purchasing an additional 4,592 shares during the last quarter. Finally, Resources Management Corp CT ADV lifted its stake in Costco Wholesale by 1,396.0% in the second quarter. Resources Management Corp CT ADV now owns 14,960 shares of the retailer’s stock valued at $8,054,000 after buying an additional 13,960 shares during the last quarter. 68.48% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Costco Wholesale news, EVP Caton Frates sold 740 shares of the business’s stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $683.50, for a total value of $505,790.00. Following the completion of the sale, the executive vice president now directly owns 6,721 shares of the company’s stock, valued at $4,593,803.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Caton Frates sold 740 shares of Costco Wholesale stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $683.50, for a total transaction of $505,790.00. Following the completion of the transaction, the executive vice president now directly owns 6,721 shares of the company’s stock, valued at approximately $4,593,803.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Claudine Adamo sold 1,500 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $714.83, for a total value of $1,072,245.00. Following the completion of the transaction, the executive vice president now directly owns 6,695 shares in the company, valued at $4,785,786.85. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 15,582 shares of company stock worth $10,736,778. Corporate insiders own 0.18% of the company’s stock.

Analysts Set New Price Targets

COST has been the topic of a number of research reports. BMO Capital Markets raised their price target on Costco Wholesale from $612.00 to $700.00 and gave the stock an “outperform” rating in a report on Friday, December 15th. Telsey Advisory Group increased their price target on shares of Costco Wholesale from $750.00 to $785.00 and gave the stock an “outperform” rating in a report on Monday, March 4th. Wells Fargo & Company lifted their price objective on Costco Wholesale from $610.00 to $675.00 and gave the company an “equal weight” rating in a report on Thursday, February 8th. Oppenheimer boosted their target price on Costco Wholesale from $760.00 to $805.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 5th. Finally, DA Davidson raised their price target on Costco Wholesale from $570.00 to $600.00 and gave the company a “neutral” rating in a report on Friday, December 15th. Seven research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat, Costco Wholesale currently has a consensus rating of “Moderate Buy” and an average target price of $672.76.

View Our Latest Stock Report on Costco Wholesale

Costco Wholesale Price Performance

COST traded down $9.30 during trading on Wednesday, reaching $702.00. The stock had a trading volume of 1,539,883 shares, compared to its average volume of 2,139,510. The company has a quick ratio of 0.43, a current ratio of 0.93 and a debt-to-equity ratio of 0.28. The stock has a 50 day moving average of $727.00 and a two-hundred day moving average of $647.84. Costco Wholesale Co. has a 1-year low of $476.75 and a 1-year high of $787.08. The firm has a market capitalization of $311.34 billion, a price-to-earnings ratio of 45.98, a price-to-earnings-growth ratio of 4.99 and a beta of 0.77.

Costco Wholesale (NASDAQ:COSTGet Free Report) last announced its earnings results on Thursday, March 7th. The retailer reported $3.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.62 by $0.09. Costco Wholesale had a net margin of 2.73% and a return on equity of 28.80%. The company had revenue of $58.44 billion for the quarter, compared to the consensus estimate of $59.11 billion. During the same period in the previous year, the business earned $3.30 EPS. The company’s revenue was up 5.7% on a year-over-year basis. As a group, equities analysts anticipate that Costco Wholesale Co. will post 15.81 EPS for the current fiscal year.

Costco Wholesale Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 16th. Stockholders of record on Friday, February 2nd were paid a $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a dividend yield of 0.58%. The ex-dividend date of this dividend was Thursday, February 1st. Costco Wholesale’s dividend payout ratio (DPR) is presently 26.68%.

About Costco Wholesale

(Free Report)

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.

See Also

Want to see what other hedge funds are holding COST? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Costco Wholesale Co. (NASDAQ:COSTFree Report).

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

Receive News & Ratings for Costco Wholesale Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Costco Wholesale and related companies with MarketBeat.com's FREE daily email newsletter.