Spouting Rock Asset Management LLC Sells 3,278 Shares of Costco Wholesale Co. (NASDAQ:COST)

Spouting Rock Asset Management LLC lessened its stake in Costco Wholesale Co. (NASDAQ:COSTFree Report) by 25.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,484 shares of the retailer’s stock after selling 3,278 shares during the period. Costco Wholesale makes up approximately 2.3% of Spouting Rock Asset Management LLC’s holdings, making the stock its 11th largest position. Spouting Rock Asset Management LLC’s holdings in Costco Wholesale were worth $6,260,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. B. Riley Wealth Advisors Inc. grew its position in shares of Costco Wholesale by 1.0% during the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 28,855 shares of the retailer’s stock valued at $16,302,000 after acquiring an additional 273 shares during the period. Main Street Financial Solutions LLC lifted its stake in shares of Costco Wholesale by 4.7% during the 4th quarter. Main Street Financial Solutions LLC now owns 1,763 shares of the retailer’s stock valued at $1,164,000 after buying an additional 79 shares in the last quarter. Cerity Partners LLC lifted its stake in shares of Costco Wholesale by 28.9% during the 4th quarter. Cerity Partners LLC now owns 272,288 shares of the retailer’s stock valued at $179,822,000 after buying an additional 61,122 shares in the last quarter. Metis Global Partners LLC lifted its stake in shares of Costco Wholesale by 15.6% during the 4th quarter. Metis Global Partners LLC now owns 21,514 shares of the retailer’s stock valued at $14,201,000 after buying an additional 2,909 shares in the last quarter. Finally, Rice Partnership LLC lifted its stake in shares of Costco Wholesale by 21.0% during the 3rd quarter. Rice Partnership LLC now owns 11,741 shares of the retailer’s stock valued at $6,633,000 after buying an additional 2,038 shares in the last quarter. Institutional investors own 68.48% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on COST. TD Cowen lifted their target price on shares of Costco Wholesale from $777.00 to $850.00 and gave the company a “buy” rating in a research note on Friday, May 31st. DA Davidson reiterated a “neutral” rating and issued a $680.00 price target on shares of Costco Wholesale in a research note on Thursday, April 11th. Evercore ISI boosted their price target on shares of Costco Wholesale from $845.00 to $860.00 and gave the stock an “outperform” rating in a research note on Friday, May 31st. Telsey Advisory Group boosted their price target on shares of Costco Wholesale from $850.00 to $900.00 and gave the stock an “outperform” rating in a research note on Thursday, June 6th. Finally, Barclays upped their target price on shares of Costco Wholesale from $700.00 to $765.00 and gave the company an “equal weight” rating in a research report on Friday, May 31st. Seven research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $751.85.

View Our Latest Research Report on Costco Wholesale

Costco Wholesale Stock Up 1.1 %

NASDAQ:COST traded up $9.71 during midday trading on Friday, reaching $855.67. 1,285,999 shares of the stock traded hands, compared to its average volume of 1,970,949. Costco Wholesale Co. has a 12-month low of $516.54 and a 12-month high of $856.18. The business has a 50-day moving average of $771.22 and a two-hundred day moving average of $719.64. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.45 and a current ratio of 0.94. The stock has a market capitalization of $379.34 billion, a PE ratio of 52.73, a price-to-earnings-growth ratio of 5.61 and a beta of 0.79.

Costco Wholesale (NASDAQ:COSTGet Free Report) last posted its earnings results on Thursday, May 30th. The retailer reported $3.78 EPS for the quarter, beating analysts’ consensus estimates of $3.70 by $0.08. The company had revenue of $58.52 billion during the quarter, compared to analysts’ expectations of $58.16 billion. Costco Wholesale had a net margin of 2.83% and a return on equity of 30.02%. Costco Wholesale’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.43 earnings per share. On average, equities analysts forecast that Costco Wholesale Co. will post 15.96 earnings per share for the current fiscal year.

Costco Wholesale Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 10th. Shareholders of record on Friday, April 26th were issued a $1.16 dividend. The ex-dividend date was Thursday, April 25th. This represents a $4.64 dividend on an annualized basis and a dividend yield of 0.54%. This is a boost from Costco Wholesale’s previous quarterly dividend of $1.02. Costco Wholesale’s dividend payout ratio (DPR) is currently 28.75%.

Insiders Place Their Bets

In other Costco Wholesale news, EVP Russell D. Miller sold 785 shares of the firm’s stock in a transaction on Wednesday, April 17th. The shares were sold at an average price of $722.86, for a total value of $567,445.10. Following the completion of the transaction, the executive vice president now owns 10,000 shares of the company’s stock, valued at $7,228,600. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.18% of the company’s stock.

Costco Wholesale Company Profile

(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.

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

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