New York Life Investment Management LLC Reduces Position in Costco Wholesale Co. (NASDAQ:COST)

New York Life Investment Management LLC reduced its holdings in Costco Wholesale Co. (NASDAQ:COST) by 6.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 69,149 shares of the retailer’s stock after selling 4,401 shares during the period. New York Life Investment Management LLC’s holdings in Costco Wholesale were worth $45,644,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently bought and sold shares of COST. Richelieu Gestion SA purchased a new position in Costco Wholesale during the fourth quarter worth about $25,000. Morton Brown Family Wealth LLC lifted its position in Costco Wholesale by 200.0% in the fourth quarter. Morton Brown Family Wealth LLC now owns 45 shares of the retailer’s stock valued at $30,000 after buying an additional 30 shares during the last quarter. Wetzel Investment Advisors Inc. acquired a new position in shares of Costco Wholesale in the 4th quarter worth approximately $30,000. Steph & Co. raised its position in Costco Wholesale by 42.3% in the third quarter. Steph & Co. now owns 74 shares of the retailer’s stock valued at $42,000 after purchasing an additional 22 shares during the period. Finally, Valued Wealth Advisors LLC purchased a new position in Costco Wholesale during the 4th quarter valued at about $49,000. Hedge funds and other institutional investors own 68.48% of the company’s stock.

Costco Wholesale Stock Down 0.1 %

NASDAQ:COST traded down $0.68 during mid-day trading on Wednesday, reaching $722.22. The stock had a trading volume of 1,607,393 shares, compared to its average volume of 2,040,271. The company has a market capitalization of $320.30 billion, a price-to-earnings ratio of 47.12, a price-to-earnings-growth ratio of 4.84 and a beta of 0.77. The stock’s 50 day simple moving average is $730.40 and its two-hundred day simple moving average is $669.72. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.93 and a quick ratio of 0.43. Costco Wholesale Co. has a 1-year low of $476.75 and a 1-year high of $787.08.

Costco Wholesale (NASDAQ:COST) last issued 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 net margin of 2.73% and a return on equity of 28.80%. The firm had revenue of $58.44 billion for the quarter, compared to the consensus estimate of $59.11 billion. During the same period last year, the firm posted $3.30 EPS. Costco Wholesale’s quarterly revenue was up 5.7% compared to the same quarter last year. Equities analysts anticipate that Costco Wholesale Co. will post 15.84 EPS 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%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on COST shares. Wells Fargo & Company upped their target price on Costco Wholesale from $610.00 to $675.00 and gave the company an “equal weight” rating in a research report on Thursday, February 8th. Gordon Haskett downgraded Costco Wholesale from a “buy” rating to an “accumulate” rating and set a $775.00 price objective for the company. in a research note on Wednesday, April 3rd. Roth Mkm upped their price target on shares of Costco Wholesale from $601.00 to $650.00 and gave the company a “neutral” rating in a report on Thursday, April 11th. Telsey Advisory Group reiterated an “outperform” rating and set a $800.00 target price on shares of Costco Wholesale in a report on Thursday, April 11th. Finally, Evercore ISI upped their price objective on Costco Wholesale from $795.00 to $805.00 and gave the company an “outperform” rating in a research report on Thursday, April 11th. Seven equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $694.48.

Insiders Place Their Bets

In other Costco Wholesale news, EVP Russell D. Miller sold 785 shares of the business’s stock in a transaction dated Wednesday, April 17th. The shares were sold at an average price of $722.86, for a total value of $567,445.10. Following the sale, the executive vice president now directly owns 10,000 shares in the company, valued at $7,228,600. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, EVP Claudine Adamo sold 1,500 shares of the company’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $714.83, for a total transaction of $1,072,245.00. Following the transaction, the executive vice president now directly owns 6,695 shares of the company’s stock, valued at $4,785,786.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Russell D. Miller sold 785 shares of the company’s stock in a transaction dated Wednesday, April 17th. The shares were sold at an average price of $722.86, for a total value of $567,445.10. Following the completion of the transaction, the executive vice president now owns 10,000 shares in the company, valued at approximately $7,228,600. 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.

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.