Retirement Systems of Alabama Sells 2,623 Shares of Costco Wholesale Co. (NASDAQ:COST)

Retirement Systems of Alabama decreased its position in shares of Costco Wholesale Co. (NASDAQ:COST) by 1.2% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 218,675 shares of the retailer’s stock after selling 2,623 shares during the quarter. Costco Wholesale makes up 0.6% of Retirement Systems of Alabama’s investment portfolio, making the stock its 27th largest position. Retirement Systems of Alabama’s holdings in Costco Wholesale were worth $144,343,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Richelieu Gestion SA bought a new position in Costco Wholesale in the 4th quarter worth about $25,000. Morton Brown Family Wealth LLC boosted its stake in Costco Wholesale by 200.0% in the 4th quarter. Morton Brown Family Wealth LLC now owns 45 shares of the retailer’s stock worth $30,000 after purchasing an additional 30 shares during the period. Wetzel Investment Advisors Inc. bought a new position in Costco Wholesale in the 4th quarter worth about $30,000. Steph & Co. boosted its stake in Costco Wholesale by 42.3% in the 3rd quarter. Steph & Co. now owns 74 shares of the retailer’s stock worth $42,000 after purchasing an additional 22 shares during the period. Finally, Valued Wealth Advisors LLC bought a new position in Costco Wholesale in the 4th quarter worth about $49,000. Institutional investors own 68.48% of the company’s stock.

Costco Wholesale Trading Up 1.0 %

COST stock traded up $7.32 during midday trading on Friday, hitting $729.18. The company had a trading volume of 1,524,431 shares, compared to its average volume of 1,663,722. The company has a current ratio of 0.93, a quick ratio of 0.43 and a debt-to-equity ratio of 0.28. Costco Wholesale Co. has a 52 week low of $476.75 and a 52 week high of $787.08. The stock’s 50 day moving average price is $730.41 and its 200 day moving average price is $666.77. The stock has a market cap of $323.39 billion, a price-to-earnings ratio of 47.69, a PEG ratio of 4.86 and a beta of 0.77.

Costco Wholesale (NASDAQ:COST) last announced its quarterly earnings data on Thursday, March 7th. The retailer reported $3.71 earnings per share for the quarter, beating the consensus estimate of $3.62 by $0.09. Costco Wholesale had a return on equity of 28.80% and a net margin of 2.73%. The firm had revenue of $58.44 billion during the quarter, compared to the consensus estimate of $59.11 billion. During the same quarter in the previous year, the company posted $3.30 earnings per share. The business’s revenue was up 5.7% on a year-over-year basis. As a group, equities research analysts expect that Costco Wholesale Co. will post 15.84 earnings per share for the current fiscal year.

Costco Wholesale Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 10th. Shareholders of record on Friday, April 26th will be given a $1.16 dividend. The ex-dividend date is Thursday, April 25th. This represents a $4.64 annualized dividend and a yield of 0.64%. This is an increase from Costco Wholesale’s previous quarterly dividend of $1.02. Costco Wholesale’s payout ratio is presently 30.35%.

Insider Buying and Selling at Costco Wholesale

In other Costco Wholesale news, EVP Russell D. Miller sold 785 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the executive vice president now owns 10,000 shares in the company, valued at $7,228,600. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Susan L. Decker sold 1,442 shares of the business’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $723.48, for a total transaction of $1,043,258.16. Following the transaction, the director now directly owns 12,395 shares of the company’s stock, valued at $8,967,534.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Russell D. Miller sold 785 shares of the business’s 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 directly owns 10,000 shares in the company, valued at $7,228,600. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 3,727 shares of company stock worth $2,682,948. 0.18% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research analysts have commented on COST shares. The Goldman Sachs Group raised their target price on Costco Wholesale from $665.00 to $749.00 and gave the stock a “buy” rating in a research note on Thursday, February 8th. Loop Capital lowered their price target on Costco Wholesale from $830.00 to $820.00 and set a “buy” rating on the stock in a report on Thursday, April 11th. Roth Mkm raised 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. Wells Fargo & Company raised their price target on Costco Wholesale from $610.00 to $675.00 and gave the company an “equal weight” rating in a report on Thursday, February 8th. Finally, Citigroup raised their price target on Costco Wholesale from $630.00 to $710.00 and gave the company a “neutral” rating in a report on Tuesday, April 23rd. Seven equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat.com, Costco Wholesale presently has a consensus rating of “Moderate Buy” and a consensus target price of $694.48.

About Costco Wholesale

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.