Pine Haven Investment Counsel Inc Has $3.39 Million Stock Holdings in Costco Wholesale Co. (NASDAQ:COST)

Pine Haven Investment Counsel Inc reduced its holdings in shares of Costco Wholesale Co. (NASDAQ:COSTGet Rating) by 0.5% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,888 shares of the retailer’s stock after selling 28 shares during the quarter. Costco Wholesale makes up approximately 3.3% of Pine Haven Investment Counsel Inc’s holdings, making the stock its 5th biggest position. Pine Haven Investment Counsel Inc’s holdings in Costco Wholesale were worth $3,391,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in COST. BlackRock Inc. grew its stake in shares of Costco Wholesale by 3.1% in the fourth quarter. BlackRock Inc. now owns 31,078,322 shares of the retailer’s stock valued at $17,643,166,000 after buying an additional 944,199 shares in the last quarter. State Street Corp grew its stake in shares of Costco Wholesale by 10.2% in the fourth quarter. State Street Corp now owns 18,301,225 shares of the retailer’s stock valued at $10,389,605,000 after buying an additional 1,697,920 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Costco Wholesale by 3.5% in the fourth quarter. Geode Capital Management LLC now owns 7,372,449 shares of the retailer’s stock valued at $4,173,133,000 after buying an additional 246,857 shares in the last quarter. Alliancebernstein L.P. grew its stake in shares of Costco Wholesale by 2.7% in the fourth quarter. Alliancebernstein L.P. now owns 5,106,207 shares of the retailer’s stock valued at $2,898,794,000 after buying an additional 133,943 shares in the last quarter. Finally, Fisher Asset Management LLC grew its stake in shares of Costco Wholesale by 3.7% in the first quarter. Fisher Asset Management LLC now owns 4,221,255 shares of the retailer’s stock valued at $2,430,810,000 after buying an additional 150,655 shares in the last quarter. 67.52% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on COST shares. Robert W. Baird decreased their target price on shares of Costco Wholesale from $600.00 to $560.00 and set an “outperform” rating for the company in a research note on Friday, May 27th. Truist Financial raised their target price on shares of Costco Wholesale from $543.00 to $571.00 in a research note on Thursday. Telsey Advisory Group decreased their target price 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. Deutsche Bank Aktiengesellschaft raised Costco Wholesale from a “hold” rating to a “buy” rating and raised their price target for the company from $525.00 to $579.00 in a report on Thursday, July 14th. Finally, BMO Capital Markets reaffirmed a “buy” rating and set a $580.00 price target on shares of Costco Wholesale in a report on Monday, May 30th. Four analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $576.68.

Costco Wholesale Trading Down 1.4 %

COST traded down $7.76 on Friday, hitting $535.52. 39,693 shares of the company were exchanged, compared to its average volume of 2,274,878. The firm has a fifty day simple moving average of $491.52 and a two-hundred day simple moving average of $514.76. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.48 and a current ratio of 1.04. Costco Wholesale Co. has a 12 month low of $406.51 and a 12 month high of $612.27. The stock has a market capitalization of $237.21 billion, a PE ratio of 42.19, a price-to-earnings-growth ratio of 4.57 and a beta of 0.69.

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

Costco Wholesale Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 12th. Investors of record on Friday, July 29th will be given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 0.07%. The ex-dividend date is Thursday, July 28th. Costco Wholesale’s dividend payout ratio (DPR) is presently 28.35%.

Insider Activity at Costco Wholesale

In related news, VP James P. Murphy sold 2,500 shares of the 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 completion of the transaction, the vice president now directly owns 37,730 shares of the company’s stock, valued at $17,506,720. The sale was disclosed in a filing with the SEC, which is available through this link. In other Costco Wholesale news, VP James P. Murphy sold 1,500 shares of Costco Wholesale stock in a transaction dated Wednesday, July 20th. The stock was sold at an average price of $525.20, for a total transaction of $787,800.00. Following the completion of the sale, the vice president now owns 36,230 shares of the company’s stock, valued at approximately $19,027,996. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP James P. Murphy sold 2,500 shares of the business’s stock in a transaction dated Wednesday, June 22nd. The shares were sold at an average price of $464.00, for a total value of $1,160,000.00. Following the completion of the transaction, the vice president now directly owns 37,730 shares of the company’s stock, valued at approximately $17,506,720. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 5,300 shares of company stock worth $2,609,904. 0.22% of the stock is owned by insiders.

Costco Wholesale Profile

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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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