Altman Advisors Inc. Has $3.81 Million Stock Position in Costco Wholesale Co. (NASDAQ:COST)

Altman Advisors Inc. trimmed its position in Costco Wholesale Co. (NASDAQ:COSTGet Rating) by 1.5% in the first quarter, Holdings Channel.com reports. The institutional investor owned 6,620 shares of the retailer’s stock after selling 103 shares during the period. Costco Wholesale makes up about 2.0% of Altman Advisors Inc.’s holdings, making the stock its 11th largest holding. Altman Advisors Inc.’s holdings in Costco Wholesale were worth $3,812,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of COST. Fortune 45 LLC raised its stake in Costco Wholesale by 8.6% during the 1st quarter. Fortune 45 LLC now owns 696 shares of the retailer’s stock valued at $401,000 after purchasing an additional 55 shares during the last quarter. CHICAGO TRUST Co NA raised its stake in Costco Wholesale by 3.6% during the 1st quarter. CHICAGO TRUST Co NA now owns 6,081 shares of the retailer’s stock valued at $3,502,000 after purchasing an additional 209 shares during the last quarter. Twin Capital Management Inc. raised its stake in Costco Wholesale by 1.3% during the 1st quarter. Twin Capital Management Inc. now owns 7,728 shares of the retailer’s stock valued at $4,450,000 after purchasing an additional 101 shares during the last quarter. Schmidt P J Investment Management Inc. raised its stake in shares of Costco Wholesale by 117.4% in the 1st quarter. Schmidt P J Investment Management Inc. now owns 6,332 shares of the retailer’s stock valued at $3,367,000 after buying an additional 3,419 shares in the last quarter. Finally, Balentine LLC raised its stake in shares of Costco Wholesale by 70.3% in the 1st quarter. Balentine LLC now owns 4,541 shares of the retailer’s stock valued at $2,615,000 after buying an additional 1,874 shares in the last quarter. 67.52% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Mary Agnes Wilderotter bought 850 shares of the company’s stock in a transaction on Tuesday, June 7th. The shares were purchased at an average cost of $470.74 per share, for a total transaction of $400,129.00. Following the acquisition, the director now owns 11,295 shares of the company’s stock, valued at approximately $5,317,008.30. The purchase was disclosed in a filing with the SEC, which is available at this link. In other Costco Wholesale news, Director Mary Agnes Wilderotter purchased 850 shares of the firm’s stock in a transaction dated Tuesday, June 7th. The stock was bought at an average cost of $470.74 per share, with a total value of $400,129.00. Following the purchase, the director now directly owns 11,295 shares of the company’s stock, valued at $5,317,008.30. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, VP James P. Murphy sold 2,500 shares of the firm’s stock in a transaction that occurred on Wednesday, June 22nd. The stock was sold at an average price of $464.00, for a total transaction of $1,160,000.00. Following the transaction, the vice president now directly owns 37,730 shares of the company’s stock, valued at $17,506,720. The disclosure for this sale can be found here. In the last three months, insiders have sold 5,300 shares of company stock worth $2,609,904. Company insiders own 0.22% of the company’s stock.

Costco Wholesale Trading Down 1.4 %

Shares of NASDAQ:COST traded down $7.44 during mid-day trading on Friday, reaching $535.84. The stock had a trading volume of 38,702 shares, compared to its average volume of 2,274,878. The firm has a market cap of $237.36 billion, a PE ratio of 42.15, a price-to-earnings-growth ratio of 4.57 and a beta of 0.69. The firm has a 50 day simple moving average of $491.52 and a two-hundred day simple moving average of $514.76. The company has a current ratio of 1.04, a quick ratio of 0.48 and a debt-to-equity ratio of 0.32. Costco Wholesale Co. has a twelve month low of $406.51 and a twelve month high of $612.27.

Costco Wholesale (NASDAQ:COSTGet Rating) last announced its quarterly earnings results on Thursday, May 26th. The retailer reported $3.17 earnings per share for the quarter, beating analysts’ consensus estimates of $3.00 by $0.17. The business had revenue of $52.60 billion for the quarter, compared to the consensus estimate of $51.49 billion. Costco Wholesale had a net margin of 2.60% and a return on equity of 29.71%. Costco Wholesale’s revenue for the quarter was up 18.5% on a year-over-year basis. During the same period last year, the company posted $2.75 EPS. On average, research analysts predict that Costco Wholesale Co. will post 13.05 EPS for the current fiscal year.

Costco Wholesale Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 12th. Shareholders of record on Friday, July 29th will be issued a dividend of $0.09 per share. The ex-dividend date of this dividend is Thursday, July 28th. This represents a $0.36 annualized dividend and a yield of 0.07%. Costco Wholesale’s dividend payout ratio (DPR) is currently 28.35%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on COST. Credit Suisse Group dropped their price objective 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. Telsey Advisory Group dropped their price objective on shares of Costco Wholesale from $615.00 to $590.00 and set an “outperform” rating for the company in a research note on Friday, May 27th. Loop Capital dropped their price objective on shares of Costco Wholesale from $650.00 to $610.00 and set a “buy” rating for the company in a research note on Friday, May 27th. BMO Capital Markets reaffirmed a “buy” rating and issued a $580.00 target price on shares of Costco Wholesale in a report on Monday, May 30th. Finally, Robert W. Baird lowered their target price on shares of Costco Wholesale from $600.00 to $560.00 and set an “outperform” rating on the stock in a report on Friday, May 27th. Four investment analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the stock. Based on data from MarketBeat, Costco Wholesale currently has an average rating of “Moderate Buy” and a consensus price target of $576.68.

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.

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

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