Meadow Creek Wealth Advisors LLC Sells 60 Shares of Costco Wholesale Co. (NASDAQ:COST)

Meadow Creek Wealth Advisors LLC reduced its stake in Costco Wholesale Co. (NASDAQ:COSTGet Rating) by 13.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 393 shares of the retailer’s stock after selling 60 shares during the period. Meadow Creek Wealth Advisors LLC’s holdings in Costco Wholesale were worth $226,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of COST. Norges Bank bought a new position in Costco Wholesale in the 4th quarter worth about $2,323,746,000. State Street Corp boosted its stake in shares of Costco Wholesale by 10.2% during the fourth quarter. State Street Corp now owns 18,301,225 shares of the retailer’s stock valued at $10,389,605,000 after purchasing an additional 1,697,920 shares in the last quarter. BlackRock Inc. boosted its stake in shares of Costco Wholesale by 3.1% during the fourth quarter. BlackRock Inc. now owns 31,078,322 shares of the retailer’s stock valued at $17,643,166,000 after purchasing an additional 944,199 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new position in shares of Costco Wholesale during the fourth quarter valued at approximately $202,327,000. Finally, ProShare Advisors LLC boosted its stake in shares of Costco Wholesale by 56.0% during the fourth quarter. ProShare Advisors LLC now owns 819,712 shares of the retailer’s stock valued at $465,350,000 after purchasing an additional 294,118 shares in the last quarter. Institutional investors and hedge funds own 67.52% of the company’s stock.

In other news, VP Timothy L. Rose sold 4,000 shares of Costco Wholesale stock in a transaction dated Tuesday, March 29th. The shares were sold at an average price of $566.29, for a total value of $2,265,160.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Mary Agnes Wilderotter bought 850 shares of the company’s stock in a transaction dated Tuesday, June 7th. The stock was bought at an average price of $470.74 per share, for a total transaction of $400,129.00. Following the transaction, the director now owns 11,295 shares of the company’s stock, valued at $5,317,008.30. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 8,998 shares of company stock worth $5,278,469. 0.22% of the stock is owned by company insiders.

A number of equities analysts have recently issued reports on the stock. Truist Financial increased their price objective on shares of Costco Wholesale from $503.00 to $543.00 and gave the company a “buy” rating in a research note on Friday, May 27th. Jefferies Financial Group reiterated a “buy” rating and set a $580.00 price objective (up from $560.00) on shares of Costco Wholesale in a research note on Thursday, June 2nd. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Costco Wholesale from $530.00 to $525.00 in a research note on Wednesday, May 25th. Citigroup lowered their target price on shares of Costco Wholesale from $590.00 to $510.00 and set a “neutral” rating for the company in a research note on Friday, May 27th. Finally, Credit Suisse Group lowered their target price on shares of Costco Wholesale from $570.00 to $550.00 and set a “neutral” rating for the company in a research note on Friday, May 27th. Six research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $569.56.

Shares of Costco Wholesale stock opened at $459.96 on Thursday. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.04 and a quick ratio of 0.48. The firm has a fifty day moving average price of $496.50 and a 200 day moving average price of $522.53. Costco Wholesale Co. has a 1 year low of $390.59 and a 1 year high of $612.27. The stock has a market cap of $203.74 billion, a PE ratio of 36.22, a price-to-earnings-growth ratio of 3.87 and a beta of 0.71.

Costco Wholesale (NASDAQ:COSTGet Rating) last issued its earnings results on Thursday, May 26th. The retailer reported $3.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.03 by $0.01. The firm had revenue of $52.60 billion during the quarter, compared to analysts’ expectations of $51.49 billion. Costco Wholesale had a net margin of 2.60% and a return on equity of 29.71%. The firm’s revenue was up 18.5% compared to the same quarter last year. During the same quarter last year, the company posted $2.75 earnings per share. As a group, equities analysts expect that Costco Wholesale Co. will post 13.02 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, May 13th. Investors of record on Friday, April 29th were given a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a yield of 0.78%. The ex-dividend date of this dividend was Thursday, April 28th. This is a positive change from Costco Wholesale’s previous quarterly dividend of $0.79. Costco Wholesale’s dividend payout ratio (DPR) is currently 28.35%.

About Costco Wholesale (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.

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

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