Burney Co. Reduces Stake in Costco (COST)

Burney Co. decreased its holdings in shares of Costco (NASDAQ:COST) by 23.2% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,174 shares of the retailer’s stock after selling 655 shares during the quarter. Burney Co.’s holdings in Costco were worth $410,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Wealthcare Advisory Partners LLC purchased a new stake in shares of Costco in the third quarter valued at about $102,000. Assetmark Inc. grew its holdings in shares of Costco by 137.0% in the fourth quarter. Assetmark Inc. now owns 564 shares of the retailer’s stock valued at $105,000 after purchasing an additional 326 shares during the period. Zions Bancorporation grew its holdings in shares of Costco by 148.4% in the third quarter. Zions Bancorporation now owns 688 shares of the retailer’s stock valued at $113,000 after purchasing an additional 411 shares during the period. Smart Portfolios LLC purchased a new stake in shares of Costco in the first quarter valued at about $113,000. Finally, American Beacon Advisors Inc. purchased a new stake in shares of Costco in the fourth quarter valued at about $120,000. 72.99% of the stock is owned by institutional investors and hedge funds.

A number of equities research analysts recently issued reports on the stock. Loop Capital assumed coverage on shares of Costco in a report on Wednesday. They issued a “buy” rating and a $224.00 price objective for the company. Vetr lowered shares of Costco from a “buy” rating to a “hold” rating and set a $200.28 price objective for the company. in a report on Monday, January 22nd. BMO Capital Markets set a $223.00 price objective on shares of Costco and gave the company a “buy” rating in a report on Wednesday, January 24th. Wells Fargo raised shares of Costco from a “market perform” rating to an “outperform” rating and dropped their price objective for the company from $191.42 to $188.91 in a report on Monday, April 16th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $205.00 price objective (down previously from $209.00) on shares of Costco in a report on Thursday, March 8th. Eight research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $193.37.

In other news, VP Paul G. Moulton sold 11,674 shares of the stock in a transaction dated Monday, March 12th. The shares were sold at an average price of $188.98, for a total transaction of $2,206,152.52. Following the sale, the vice president now owns 33,573 shares of the company’s stock, valued at $6,344,625.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John W. Meisenbach sold 3,000 shares of the stock in a transaction dated Thursday, March 1st. The stock was sold at an average price of $191.31, for a total transaction of $573,930.00. Following the sale, the director now directly owns 8,654 shares in the company, valued at approximately $1,655,596.74. The disclosure for this sale can be found here. Insiders have sold 62,067 shares of company stock worth $11,700,142 in the last three months. Corporate insiders own 0.74% of the company’s stock.

Shares of COST opened at $199.60 on Friday. The stock has a market cap of $85.78 billion, a PE ratio of 34.30, a price-to-earnings-growth ratio of 2.76 and a beta of 0.95. Costco has a 1 year low of $196.05 and a 1 year high of $198.96. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.44 and a current ratio of 1.00.

Costco (NASDAQ:COST) last issued its quarterly earnings results on Wednesday, March 7th. The retailer reported $1.42 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.45 by ($0.03). The business had revenue of $33 billion for the quarter, compared to analyst estimates of $32.73 billion. Costco had a return on equity of 24.74% and a net margin of 2.18%. The firm’s revenue for the quarter was up 10.8% compared to the same quarter last year. During the same period in the prior year, the company posted $1.17 EPS. analysts predict that Costco will post 6.77 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 25th. Stockholders of record on Friday, May 11th will be given a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 1.14%. The ex-dividend date of this dividend is Thursday, May 10th. This is a boost from Costco’s previous quarterly dividend of $0.50. Costco’s dividend payout ratio is currently 39.18%.

Costco Company Profile

Costco Wholesale Corporation, together with its subsidiaries, operates membership warehouses. It offers branded and private-label products in a range of merchandise categories. The company provides dry and packaged foods, and groceries; snack foods, candies, alcoholic and nonalcoholic beverages, and cleaning supplies; appliances, electronics, health and beauty aids, hardware, and garden and patio products; meat, bakery, deli, and produces; and apparel and small appliances.

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Institutional Ownership by Quarter for Costco (NASDAQ:COST)

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