Costco Wholesale Corporation $COST Stake Raised by Mattern Wealth Management LLC

Mattern Wealth Management LLC increased its position in shares of Costco Wholesale Corporation (NASDAQ:COST) by 2.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,086 shares of the retailer’s stock after purchasing an additional 167 shares during the period. Costco Wholesale accounts for about 1.3% of Mattern Wealth Management LLC’s investment portfolio, making the stock its 18th largest holding. Mattern Wealth Management LLC’s holdings in Costco Wholesale were worth $6,024,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Costco Wholesale by 1.0% during the first quarter. Vanguard Group Inc. now owns 42,644,711 shares of the retailer’s stock worth $40,332,515,000 after purchasing an additional 443,101 shares in the last quarter. Alliancebernstein L.P. grew its position in Costco Wholesale by 0.4% in the first quarter. Alliancebernstein L.P. now owns 4,332,009 shares of the retailer’s stock worth $4,097,127,000 after buying an additional 18,045 shares during the last quarter. Invesco Ltd. grew its position in Costco Wholesale by 5.2% in the first quarter. Invesco Ltd. now owns 3,907,670 shares of the retailer’s stock worth $3,695,796,000 after buying an additional 191,985 shares during the last quarter. Nuveen LLC acquired a new position in Costco Wholesale in the first quarter worth approximately $3,461,159,000. Finally, Jennison Associates LLC grew its position in Costco Wholesale by 3.9% during the 1st quarter. Jennison Associates LLC now owns 3,357,630 shares of the retailer’s stock worth $3,175,579,000 after purchasing an additional 125,441 shares in the last quarter. Institutional investors own 68.48% of the company’s stock.

Costco Wholesale Stock Up 0.1%

Shares of COST stock opened at $916.87 on Tuesday. The firm has a fifty day moving average of $955.08 and a 200-day moving average of $971.72. The company has a quick ratio of 0.55, a current ratio of 1.03 and a debt-to-equity ratio of 0.20. Costco Wholesale Corporation has a 12-month low of $867.16 and a 12-month high of $1,078.23. The company has a market capitalization of $406.61 billion, a price-to-earnings ratio of 50.35, a P/E/G ratio of 5.15 and a beta of 0.97.

Costco Wholesale (NASDAQ:COST) last issued its quarterly earnings data on Thursday, September 25th. The retailer reported $5.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.81 by $0.06. Costco Wholesale had a net margin of 2.94% and a return on equity of 30.09%. The company had revenue of $86.16 billion during the quarter, compared to the consensus estimate of $86.01 billion. During the same quarter in the prior year, the firm earned $5.15 earnings per share. The firm’s revenue was up 8.1% compared to the same quarter last year. As a group, equities research analysts predict that Costco Wholesale Corporation will post 18.03 earnings per share for the current fiscal year.

Costco Wholesale Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Friday, August 1st were given a $1.30 dividend. The ex-dividend date of this dividend was Friday, August 1st. This represents a $5.20 dividend on an annualized basis and a yield of 0.6%. Costco Wholesale’s dividend payout ratio (DPR) is 28.56%.

Analyst Ratings Changes

A number of brokerages have issued reports on COST. JPMorgan Chase & Co. decreased their target price on shares of Costco Wholesale from $1,160.00 to $1,050.00 and set an “overweight” rating for the company in a research note on Friday. Citigroup dropped their price objective on shares of Costco Wholesale from $1,065.00 to $990.00 and set a “neutral” rating on the stock in a report on Monday. Sanford C. Bernstein boosted their price target on shares of Costco Wholesale from $1,137.00 to $1,140.00 and gave the company an “outperform” rating in a research report on Friday. Wall Street Zen upgraded shares of Costco Wholesale from a “hold” rating to a “buy” rating in a research report on Friday, June 6th. Finally, Roth Capital set a $907.00 target price on shares of Costco Wholesale and gave the stock a “neutral” rating in a research report on Friday. Eighteen equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat.com, Costco Wholesale currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,072.00.

Insiders Place Their Bets

In related news, EVP Teresa A. Jones sold 600 shares of the firm’s stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $992.05, for a total value of $595,230.00. Following the completion of the transaction, the executive vice president owned 2,362 shares of the company’s stock, valued at approximately $2,343,222.10. This trade represents a 20.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Yoram Rubanenko sold 4,000 shares of the stock in a transaction on Monday, July 14th. The shares were sold at an average price of $974.96, for a total transaction of $3,899,840.00. Following the completion of the sale, the executive vice president owned 5,774 shares of the company’s stock, 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. 0.18% of the stock is currently owned by company insiders.

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.