Costco Wholesale Co. (NASDAQ:COST) Shares Sold by Provident Trust Co.

Provident Trust Co. decreased its position in shares of Costco Wholesale Co. (NASDAQ:COST) by 2.7% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 814,090 shares of the retailer’s stock after selling 22,525 shares during the period. Costco Wholesale accounts for approximately 11.0% of Provident Trust Co.’s portfolio, making the stock its 3rd largest holding. Provident Trust Co. owned approximately 0.18% of Costco Wholesale worth $537,365,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Northern Trust Corp increased its stake in shares of Costco Wholesale by 4.3% during the 3rd quarter. Northern Trust Corp now owns 5,134,947 shares of the retailer’s stock valued at $2,901,040,000 after acquiring an additional 210,586 shares during the last quarter. International Assets Investment Management LLC increased its position in Costco Wholesale by 61,693.5% during the fourth quarter. International Assets Investment Management LLC now owns 3,105,124 shares of the retailer’s stock worth $2,049,630,000 after purchasing an additional 3,100,099 shares during the last quarter. Wellington Management Group LLP raised its stake in Costco Wholesale by 0.9% during the third quarter. Wellington Management Group LLP now owns 2,689,514 shares of the retailer’s stock worth $1,519,468,000 after purchasing an additional 24,274 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Costco Wholesale by 1.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,580,649 shares of the retailer’s stock valued at $1,457,964,000 after purchasing an additional 28,259 shares during the last quarter. Finally, Invesco Ltd. grew its stake in shares of Costco Wholesale by 18.3% during the 3rd quarter. Invesco Ltd. now owns 2,088,673 shares of the retailer’s stock valued at $1,180,016,000 after buying an additional 323,346 shares during the period. Institutional investors and hedge funds own 68.48% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Russell D. Miller sold 785 shares of the business’s stock in a transaction on Wednesday, April 17th. The stock was sold at an average price of $722.86, for a total value of $567,445.10. Following the sale, the executive vice president now owns 10,000 shares of the company’s stock, valued at approximately $7,228,600. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Russell D. Miller sold 785 shares of Costco Wholesale stock in a transaction that occurred on Wednesday, April 17th. The shares were sold at an average price of $722.86, for a total value of $567,445.10. Following the transaction, the executive vice president now owns 10,000 shares of the company’s stock, valued at approximately $7,228,600. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Claudine Adamo sold 1,500 shares of the stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $714.83, for a total transaction of $1,072,245.00. Following the sale, the executive vice president now directly owns 6,695 shares of the company’s stock, valued at $4,785,786.85. The disclosure for this sale can be found here. Insiders sold 3,727 shares of company stock worth $2,682,948 over the last ninety days. Company insiders own 0.18% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on COST shares. Gordon Haskett cut Costco Wholesale from a “buy” rating to an “accumulate” rating and set a $775.00 target price on the stock. in a report on Wednesday, April 3rd. Oppenheimer raised their target price on Costco Wholesale from $760.00 to $805.00 and gave the company an “outperform” rating in a research note on Tuesday, March 5th. Roth Mkm increased their price target on Costco Wholesale from $601.00 to $650.00 and gave the company a “neutral” rating in a report on Thursday, April 11th. Loop Capital cut their target price on Costco Wholesale from $830.00 to $820.00 and set a “buy” rating on the stock in a research report on Thursday, April 11th. Finally, Wells Fargo & Company lifted their price target on shares of Costco Wholesale from $610.00 to $675.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 8th. Seven investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $694.48.

Costco Wholesale Stock Performance

NASDAQ COST traded up $7.32 on Friday, hitting $729.18. The stock had a trading volume of 1,524,431 shares, compared to its average volume of 1,663,722. The stock has a market cap of $323.39 billion, a price-to-earnings ratio of 47.69, a P/E/G ratio of 4.81 and a beta of 0.77. The company has a quick ratio of 0.43, a current ratio of 0.93 and a debt-to-equity ratio of 0.28. Costco Wholesale Co. has a one year low of $476.75 and a one year high of $787.08. The company’s 50-day moving average is $730.41 and its two-hundred day moving average is $666.04.

Costco Wholesale (NASDAQ:COST) last announced its earnings results on Thursday, March 7th. The retailer reported $3.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.62 by $0.09. Costco Wholesale had a net margin of 2.73% and a return on equity of 28.80%. The firm had revenue of $58.44 billion during the quarter, compared to analyst estimates of $59.11 billion. During the same quarter in the prior year, the firm posted $3.30 EPS. Costco Wholesale’s revenue was up 5.7% compared to the same quarter last year. On average, analysts expect that Costco Wholesale Co. will post 15.84 earnings per share for the current year.

Costco Wholesale Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Investors of record on Friday, April 26th will be issued a dividend of $1.16 per share. This is a boost from Costco Wholesale’s previous quarterly dividend of $1.02. The ex-dividend date is Thursday, April 25th. This represents a $4.64 annualized dividend and a yield of 0.64%. Costco Wholesale’s payout ratio is presently 30.35%.

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.