Carderock Capital Management Inc. Has $10.15 Million Position in Costco Wholesale Corporation $COST

Carderock Capital Management Inc. lessened its holdings in shares of Costco Wholesale Corporation (NASDAQ:COST) by 1.6% during the 1st quarter, Holdings Channel reports. The firm owned 10,727 shares of the retailer’s stock after selling 171 shares during the period. Costco Wholesale comprises about 2.7% of Carderock Capital Management Inc.’s portfolio, making the stock its 7th biggest holding. Carderock Capital Management Inc.’s holdings in Costco Wholesale were worth $10,145,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Corps Capital Advisors LLC lifted its holdings in shares of Costco Wholesale by 0.7% in the first quarter. Corps Capital Advisors LLC now owns 1,547 shares of the retailer’s stock worth $1,463,000 after buying an additional 10 shares in the last quarter. Covestor Ltd grew its stake in Costco Wholesale by 8.6% during the first quarter. Covestor Ltd now owns 126 shares of the retailer’s stock valued at $119,000 after acquiring an additional 10 shares in the last quarter. Rooted Wealth Advisors Inc. increased its holdings in Costco Wholesale by 2.6% in the 1st quarter. Rooted Wealth Advisors Inc. now owns 441 shares of the retailer’s stock valued at $404,000 after acquiring an additional 11 shares during the last quarter. Bank & Trust Co increased its holdings in Costco Wholesale by 20.4% in the 1st quarter. Bank & Trust Co now owns 65 shares of the retailer’s stock valued at $61,000 after acquiring an additional 11 shares during the last quarter. Finally, Amplius Wealth Advisors LLC lifted its stake in Costco Wholesale by 1.3% in the 1st quarter. Amplius Wealth Advisors LLC now owns 866 shares of the retailer’s stock worth $819,000 after purchasing an additional 11 shares in the last quarter. 68.48% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on COST. JPMorgan Chase & Co. raised their price objective on Costco Wholesale from $1,115.00 to $1,160.00 and gave the company an “overweight” rating in a research report on Thursday, August 7th. Erste Group Bank cut Costco Wholesale from a “buy” rating to a “hold” rating in a report on Tuesday, August 5th. Morgan Stanley upped their price objective on Costco Wholesale from $1,150.00 to $1,225.00 and gave the stock an “overweight” rating in a report on Friday, May 30th. Loop Capital lowered their target price on Costco Wholesale from $1,115.00 to $1,110.00 and set a “buy” rating for the company in a research report on Thursday, May 29th. Finally, Wall Street Zen upgraded shares of Costco Wholesale from a “hold” rating to a “buy” rating in a research report on Friday, June 6th. Seventeen equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,056.67.

Costco Wholesale Stock Down 2.3%

Shares of COST opened at $956.29 on Thursday. The company has a quick ratio of 0.52, a current ratio of 1.02 and a debt-to-equity ratio of 0.21. The business has a fifty day moving average of $961.21 and a 200 day moving average of $976.13. The company has a market cap of $424.10 billion, a PE ratio of 54.24, a P/E/G ratio of 5.51 and a beta of 0.97. Costco Wholesale Corporation has a 52-week low of $867.16 and a 52-week high of $1,078.23.

Costco Wholesale Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Friday, August 1st were paid a dividend of $1.30 per share. The ex-dividend date of this dividend was Friday, August 1st. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.5%. Costco Wholesale’s payout ratio is currently 29.50%.

Insider Activity at Costco Wholesale

In related news, EVP Yoram Rubanenko sold 4,000 shares of the 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 sale, the executive vice president directly owned 5,774 shares of the company’s stock, valued at $5,629,419.04. This represents a 40.92% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Susan L. Decker sold 547 shares of the business’s stock in a transaction that occurred on 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 owned 11,531 shares of the company’s stock, valued at $11,300,380. This trade represents a 4.53% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 5,147 shares of company stock worth $5,031,130. Insiders own 0.18% of the company’s stock.

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.