Rockefeller Capital Management L.P. Purchases 8,910 Shares of Costco Wholesale Corporation $COST

Rockefeller Capital Management L.P. boosted its holdings in Costco Wholesale Corporation (NASDAQ:COST) by 2.8% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 326,873 shares of the retailer’s stock after purchasing an additional 8,910 shares during the quarter. Costco Wholesale comprises approximately 0.8% of Rockefeller Capital Management L.P.’s investment portfolio, making the stock its 18th largest holding. Rockefeller Capital Management L.P. owned about 0.07% of Costco Wholesale worth $323,586,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Brighton Jones LLC boosted its holdings in Costco Wholesale by 12.3% during the fourth quarter. Brighton Jones LLC now owns 19,825 shares of the retailer’s stock worth $18,165,000 after purchasing an additional 2,172 shares during the last quarter. Revolve Wealth Partners LLC boosted its position in Costco Wholesale by 13.1% in the fourth quarter. Revolve Wealth Partners LLC now owns 1,123 shares of the retailer’s stock worth $1,029,000 after purchasing an additional 130 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Costco Wholesale during the first quarter worth about $145,000. AMG National Trust Bank increased its stake in shares of Costco Wholesale by 8.3% during the 1st quarter. AMG National Trust Bank now owns 4,818 shares of the retailer’s stock worth $4,557,000 after purchasing an additional 369 shares during the last quarter. Finally, St. Louis Trust Co purchased a new position in Costco Wholesale in the first quarter valued at approximately $277,000. 68.48% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on COST shares. Mizuho lowered their target price on Costco Wholesale from $975.00 to $950.00 and set a “neutral” rating on the stock in a research note on Thursday, October 9th. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $1,100.00 price objective on shares of Costco Wholesale in a report on Tuesday, November 4th. Citigroup dropped their target price on Costco Wholesale from $1,065.00 to $990.00 and set a “neutral” rating on the stock in a research report on Monday, September 29th. Jefferies Financial Group restated a “buy” rating on shares of Costco Wholesale in a research report on Thursday, October 9th. Finally, Truist Financial cut their price target on shares of Costco Wholesale from $1,042.00 to $1,033.00 and set a “hold” rating for the company in a report on Friday, September 26th. Nineteen investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,063.88.

Costco Wholesale Stock Performance

NASDAQ COST opened at $922.98 on Friday. The firm has a market cap of $409.05 billion, a price-to-earnings ratio of 50.69, a PEG ratio of 5.54 and a beta of 0.98. The company has a 50-day simple moving average of $934.93 and a two-hundred day simple moving average of $966.55. 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 $871.71 and a 12-month high of $1,078.23.

Costco Wholesale (NASDAQ:COST) last announced its quarterly earnings results on Thursday, September 25th. The retailer reported $5.87 EPS for the quarter, topping analysts’ consensus estimates of $5.81 by $0.06. The business had revenue of $86.16 billion for the quarter, compared to analysts’ expectations of $86.01 billion. Costco Wholesale had a return on equity of 30.09% and a net margin of 2.94%.The business’s quarterly revenue was up 8.1% on a year-over-year basis. During the same period in the previous year, the firm earned $5.15 EPS. On average, equities analysts forecast that Costco Wholesale Corporation will post 18.03 EPS for the current year.

Costco Wholesale Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 14th. Shareholders of record on Friday, October 31st were given a dividend of $1.30 per share. The ex-dividend date of this dividend was Friday, October 31st. This represents a $5.20 dividend on an annualized basis and a yield of 0.6%. Costco Wholesale’s dividend payout ratio is presently 28.56%.

Insiders Place Their Bets

In related news, EVP William Richard Wilcox sold 2,400 shares of the company’s stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $930.13, for a total transaction of $2,232,312.00. Following the completion of the transaction, the executive vice president owned 2,000 shares in the company, valued at $1,860,260. This represents a 54.55% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Tiffany Marie Barbre sold 1,239 shares of the company’s stock in a transaction on Friday, October 24th. The stock was sold at an average price of $934.62, for a total transaction of $1,157,994.18. Following the completion of the transaction, the insider owned 5,155 shares of the company’s stock, valued at $4,817,966.10. This trade represents a 19.38% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 10,320 shares of company stock worth $9,605,487. Insiders own 0.18% of the company’s stock.

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.