Redwood Investment Management LLC Cuts Stock Holdings in Costco Wholesale Co. (NASDAQ:COST)

Redwood Investment Management LLC reduced its position in shares of Costco Wholesale Co. (NASDAQ:COST) by 25.2% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,347 shares of the retailer’s stock after selling 453 shares during the period. Redwood Investment Management LLC’s holdings in Costco Wholesale were worth $987,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Frank Rimerman Advisors LLC purchased a new position in shares of Costco Wholesale during the 4th quarter worth approximately $26,000. Morton Brown Family Wealth LLC increased its stake in shares of Costco Wholesale by 200.0% during 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 in the last quarter. Wetzel Investment Advisors Inc. purchased a new position in shares of Costco Wholesale during the 4th quarter worth approximately $30,000. Redmont Wealth Advisors LLC purchased a new position in shares of Costco Wholesale during the 1st quarter worth approximately $32,000. Finally, Vima LLC purchased a new position in shares of Costco Wholesale during the 4th quarter worth approximately $34,000. 68.48% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Daniel M. Hines sold 1,500 shares of Costco Wholesale stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $844.20, for a total value of $1,266,300.00. Following the transaction, the insider now owns 12,492 shares of the company’s stock, valued at approximately $10,545,746.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Costco Wholesale news, insider Daniel M. Hines sold 1,500 shares of Costco Wholesale stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $844.20, for a total transaction of $1,266,300.00. Following the transaction, the insider now owns 12,492 shares of the company’s stock, valued at approximately $10,545,746.40. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Kenneth D. Denman sold 350 shares of Costco Wholesale stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $851.53, for a total value of $298,035.50. Following the transaction, the director now directly owns 5,920 shares in the company, valued at approximately $5,041,057.60. The disclosure for this sale can be found here. In the last quarter, insiders have sold 3,350 shares of company stock valued at $2,837,131. 0.18% of the stock is owned by corporate insiders.

Costco Wholesale Price Performance

Costco Wholesale stock traded up $1.38 during midday trading on Thursday, hitting $823.38. The company’s stock had a trading volume of 156,349 shares, compared to its average volume of 1,977,257. The company has a quick ratio of 0.45, a current ratio of 0.94 and a debt-to-equity ratio of 0.27. The stock’s 50-day moving average price is $842.93 and its 200-day moving average price is $769.66. Costco Wholesale Co. has a 12 month low of $530.56 and a 12 month high of $896.67. The company has a market capitalization of $365.03 billion, a PE ratio of 50.93, a price-to-earnings-growth ratio of 5.45 and a beta of 0.78.

Costco Wholesale (NASDAQ:COST) last issued its quarterly earnings results on Thursday, May 30th. The retailer reported $3.78 EPS for the quarter, topping the consensus estimate of $3.70 by $0.08. The firm had revenue of $58.52 billion for the quarter, compared to analysts’ expectations of $58.16 billion. Costco Wholesale had a net margin of 2.83% and a return on equity of 30.02%. Costco Wholesale’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same period in the previous year, the business earned $3.43 earnings per share. Analysts anticipate that Costco Wholesale Co. will post 15.97 earnings per share for the current fiscal year.

Costco Wholesale Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 9th. Investors of record on Friday, July 26th will be paid a $1.16 dividend. The ex-dividend date is Friday, July 26th. This represents a $4.64 dividend on an annualized basis and a yield of 0.56%. Costco Wholesale’s dividend payout ratio is currently 28.75%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on COST. Tigress Financial raised their target price on shares of Costco Wholesale from $870.00 to $975.00 and gave the stock a “buy” rating in a research report on Tuesday, June 25th. Evercore ISI lifted their price target on shares of Costco Wholesale from $890.00 to $920.00 and gave the company an “outperform” rating in a report on Thursday, July 11th. DA Davidson reiterated a “neutral” rating and issued a $680.00 price target on shares of Costco Wholesale in a report on Thursday, April 11th. TD Cowen lifted their price target on shares of Costco Wholesale from $850.00 to $925.00 and gave the company a “buy” rating in a report on Friday, July 12th. Finally, Robert W. Baird raised their target price on shares of Costco Wholesale from $850.00 to $975.00 and gave the company an “outperform” rating in a research note on Thursday, July 11th. Seven investment analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $799.33.

Costco Wholesale 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.