Concentric Wealth Management LLC Sells 186 Shares of Costco Wholesale Co. (NASDAQ:COST)

Concentric Wealth Management LLC cut its stake in Costco Wholesale Co. (NASDAQ:COSTFree Report) by 2.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,527 shares of the retailer’s stock after selling 186 shares during the quarter. Costco Wholesale comprises approximately 1.4% of Concentric Wealth Management LLC’s holdings, making the stock its 22nd largest holding. Concentric Wealth Management LLC’s holdings in Costco Wholesale were worth $4,968,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. One Capital Management LLC raised its holdings in shares of Costco Wholesale by 3.3% in the third quarter. One Capital Management LLC now owns 9,197 shares of the retailer’s stock worth $5,196,000 after buying an additional 293 shares during the period. Valley Wealth Managers Inc. grew its holdings in shares of Costco Wholesale by 2.4% in the third quarter. Valley Wealth Managers Inc. now owns 958 shares of the retailer’s stock worth $541,000 after purchasing an additional 22 shares during the last quarter. Tocqueville Asset Management L.P. grew its holdings in shares of Costco Wholesale by 2.2% in the third quarter. Tocqueville Asset Management L.P. now owns 20,269 shares of the retailer’s stock worth $11,451,000 after purchasing an additional 436 shares during the last quarter. First Heartland Consultants Inc. increased its stake in Costco Wholesale by 1.1% in the 3rd quarter. First Heartland Consultants Inc. now owns 1,899 shares of the retailer’s stock worth $1,073,000 after buying an additional 21 shares during the period. Finally, Fiera Capital Corp lifted its holdings in Costco Wholesale by 88.3% during the 3rd quarter. Fiera Capital Corp now owns 60,105 shares of the retailer’s stock valued at $33,957,000 after buying an additional 28,188 shares in the last quarter. Institutional investors own 68.48% of the company’s stock.

Analyst Ratings Changes

COST has been the topic of a number of research reports. Argus raised their target price on shares of Costco Wholesale from $805.00 to $900.00 and gave the stock a “buy” rating in a research report on Tuesday, May 28th. Truist Financial lifted their target price on Costco Wholesale from $815.00 to $873.00 and gave the company a “buy” rating in a research report on Friday, May 31st. DA Davidson reiterated a “neutral” rating and issued a $680.00 target price on shares of Costco Wholesale in a report on Thursday, April 11th. Loop Capital raised their price target on Costco Wholesale from $840.00 to $890.00 and gave the company a “buy” rating in a research note on Monday, June 3rd. Finally, Oppenheimer upped their price objective on shares of Costco Wholesale from $850.00 to $905.00 and gave the stock an “outperform” rating in a research note on Thursday, June 6th. Seven investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $750.00.

Get Our Latest Report on Costco Wholesale

Insider Activity

In related news, EVP Russell D. Miller sold 785 shares of the stock in a transaction on Wednesday, April 17th. The shares were sold at an average price of $722.86, for a total transaction of $567,445.10. Following the sale, the executive vice president now directly owns 10,000 shares of the company’s stock, valued at $7,228,600. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.18% of the company’s stock.

Costco Wholesale Stock Performance

NASDAQ COST traded down $1.50 on Wednesday, reaching $847.81. 1,837,106 shares of the company’s stock traded hands, compared to its average volume of 1,982,010. The stock has a 50 day moving average price of $768.40 and a 200-day moving average price of $718.76. The firm has a market cap of $375.86 billion, a price-to-earnings ratio of 52.53, a P/E/G ratio of 5.61 and a beta of 0.79. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.45 and a current ratio of 0.94. Costco Wholesale Co. has a fifty-two week low of $516.54 and a fifty-two week high of $855.74.

Costco Wholesale (NASDAQ:COSTGet Free Report) last issued its earnings results on Thursday, May 30th. The retailer reported $3.78 EPS for the quarter, topping analysts’ consensus estimates of $3.70 by $0.08. The firm had revenue of $58.52 billion for the quarter, compared to the consensus estimate of $58.16 billion. Costco Wholesale had a return on equity of 30.02% and a net margin of 2.83%. The company’s revenue was up 9.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.43 earnings per share. Equities research analysts predict that Costco Wholesale Co. will post 15.96 EPS for the current fiscal year.

Costco Wholesale Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 10th. Stockholders of record on Friday, April 26th were paid 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 of this dividend was Thursday, April 25th. This represents a $4.64 dividend on an annualized basis and a dividend yield of 0.55%. Costco Wholesale’s dividend payout ratio (DPR) is presently 28.75%.

About Costco Wholesale

(Free Report)

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.

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

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