Costco Wholesale Co. (NASDAQ:COST) Holdings Cut by Pettyjohn Wood & White Inc.

Pettyjohn Wood & White Inc. lowered its holdings in Costco Wholesale Co. (NASDAQ:COSTGet Rating) by 5.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 807 shares of the retailer’s stock after selling 45 shares during the period. Pettyjohn Wood & White Inc.’s holdings in Costco Wholesale were worth $458,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Core Alternative Capital acquired a new stake in shares of Costco Wholesale in the third quarter valued at approximately $25,000. PSI Advisors LLC acquired a new stake in shares of Costco Wholesale in the third quarter valued at approximately $37,000. Consolidated Planning Corp acquired a new stake in shares of Costco Wholesale in the third quarter valued at approximately $41,000. AHL Investment Management Inc. acquired a new stake in shares of Costco Wholesale in the fourth quarter valued at approximately $43,000. Finally, Cranbrook Wealth Management LLC increased its stake in shares of Costco Wholesale by 24.4% in the third quarter. Cranbrook Wealth Management LLC now owns 102 shares of the retailer’s stock valued at $46,000 after purchasing an additional 20 shares during the period. 66.74% of the stock is currently owned by hedge funds and other institutional investors.

In other news, Director Kenneth D. Denman sold 250 shares of the business’s stock in a transaction dated Wednesday, March 23rd. The shares were sold at an average price of $554.67, for a total transaction of $138,667.50. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Roland Michael Vachris sold 3,318 shares of the business’s stock in a transaction dated Thursday, January 27th. The stock was sold at an average price of $492.45, for a total transaction of $1,633,949.10. The disclosure for this sale can be found here. Insiders sold a total of 12,566 shares of company stock worth $7,051,086 in the last quarter. Insiders own 0.22% of the company’s stock.

Shares of Costco Wholesale stock traded up $9.61 during midday trading on Tuesday, reaching $591.73. 55,860 shares of the company’s stock traded hands, compared to its average volume of 2,571,680. The company has a market cap of $262.27 billion, a price-to-earnings ratio of 46.91, a price-to-earnings-growth ratio of 4.99 and a beta of 0.68. The company’s 50 day simple moving average is $546.31 and its 200 day simple moving average is $525.20. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.51 and a current ratio of 1.03. Costco Wholesale Co. has a 52 week low of $365.29 and a 52 week high of $612.27.

Costco Wholesale (NASDAQ:COSTGet Rating) last released its quarterly earnings results on Thursday, March 3rd. The retailer reported $2.92 earnings per share for the quarter, beating analysts’ consensus estimates of $2.74 by $0.18. The business had revenue of $51.90 billion for the quarter, compared to the consensus estimate of $51.51 billion. Costco Wholesale had a net margin of 2.62% and a return on equity of 30.10%. Costco Wholesale’s revenue for the quarter was up 15.9% on a year-over-year basis. During the same quarter last year, the firm earned $2.14 EPS. As a group, equities research analysts predict that Costco Wholesale Co. will post 13.01 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, May 13th. Investors of record on Friday, April 29th will be issued a $0.90 dividend. This represents a $3.60 annualized dividend and a yield of 0.61%. The ex-dividend date of this dividend is Thursday, April 28th. This is an increase from Costco Wholesale’s previous quarterly dividend of $0.79. Costco Wholesale’s dividend payout ratio (DPR) is 25.46%.

COST has been the topic of a number of research analyst reports. Loop Capital raised their price objective on shares of Costco Wholesale from $605.00 to $645.00 and gave the company a “buy” rating in a research note on Thursday, April 7th. Truist Financial lifted their price target on shares of Costco Wholesale from $603.00 to $634.00 in a research report on Thursday, April 7th. Oppenheimer lifted their price target on shares of Costco Wholesale from $620.00 to $645.00 and gave the stock an “outperform” rating in a research report on Thursday, April 7th. Credit Suisse Group restated a “hold” rating and issued a $570.00 price target on shares of Costco Wholesale in a research report on Friday, March 4th. Finally, The Goldman Sachs Group lifted their price target on shares of Costco Wholesale from $561.00 to $627.00 and gave the stock a “buy” rating in a research report on Thursday, April 7th. Six analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $576.43.

Costco Wholesale Profile (Get Rating)

Costco Wholesale Corporation, together with its subsidiaries, engages in the operation of membership warehouses in the United States, Puerto Rico, Canada, the United Kingdom, Mexico, Japan, Korea, Australia, Spain, France, Iceland, China, and Taiwan. It offers branded and private-label products in a range of merchandise categories.

Further Reading

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

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