Smithbridge Asset Management Inc. DE Decreases Holdings in Costco Wholesale Co. (NASDAQ:COST)

Smithbridge Asset Management Inc. DE decreased its position in shares of Costco Wholesale Co. (NASDAQ:COST) by 9.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 323 shares of the retailer’s stock after selling 34 shares during the quarter. Smithbridge Asset Management Inc. DE’s holdings in Costco Wholesale were worth $237,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. B. Riley Wealth Advisors Inc. lifted its stake in Costco Wholesale by 1.0% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 28,855 shares of the retailer’s stock valued at $16,302,000 after buying an additional 273 shares in the last quarter. Main Street Financial Solutions LLC raised its holdings in Costco Wholesale by 4.7% in the 4th quarter. Main Street Financial Solutions LLC now owns 1,763 shares of the retailer’s stock valued at $1,164,000 after acquiring an additional 79 shares during the last quarter. Cerity Partners LLC raised its holdings in Costco Wholesale by 28.9% in the 4th quarter. Cerity Partners LLC now owns 272,288 shares of the retailer’s stock valued at $179,822,000 after acquiring an additional 61,122 shares during the last quarter. Metis Global Partners LLC raised its holdings in Costco Wholesale by 15.6% in the 4th quarter. Metis Global Partners LLC now owns 21,514 shares of the retailer’s stock valued at $14,201,000 after acquiring an additional 2,909 shares during the last quarter. Finally, Zhang Financial LLC raised its holdings in Costco Wholesale by 3.8% in the 1st quarter. Zhang Financial LLC now owns 1,010 shares of the retailer’s stock valued at $740,000 after acquiring an additional 37 shares during the last quarter. Hedge funds and other institutional investors own 68.48% of the company’s stock.

Costco Wholesale Stock Down 0.3 %

NASDAQ:COST traded down $2.54 on Wednesday, reaching $884.31. The stock had a trading volume of 1,740,527 shares, compared to its average volume of 1,954,451. The company has a current ratio of 0.94, a quick ratio of 0.45 and a debt-to-equity ratio of 0.27. The company has a 50-day moving average of $822.38 and a 200 day moving average of $750.76. The stock has a market cap of $392.04 billion, a P/E ratio of 54.68, a price-to-earnings-growth ratio of 5.82 and a beta of 0.78. Costco Wholesale Co. has a 12-month low of $526.15 and a 12-month high of $896.67.

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. Costco Wholesale had a net margin of 2.83% and a return on equity of 30.02%. The business had revenue of $58.52 billion for the quarter, compared to analysts’ expectations of $58.16 billion. During the same quarter last year, the company posted $3.43 earnings per share. The company’s quarterly revenue was up 9.1% compared to the same quarter last year. On average, research analysts predict that Costco Wholesale Co. will post 15.98 earnings per share for the current year.

Costco Wholesale Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 9th. Stockholders of record on Friday, July 26th will be given a dividend of $1.16 per share. This represents a $4.64 annualized dividend and a dividend yield of 0.52%. Costco Wholesale’s payout ratio is 28.75%.

Insider Transactions at Costco Wholesale

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

Analysts Set New Price Targets

Several research analysts have weighed in on the company. 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. Roth Mkm reiterated a “neutral” rating and issued a $676.00 price target (up from $650.00) on shares of Costco Wholesale in a report on Friday, May 31st. Citigroup upped their price objective on Costco Wholesale from $710.00 to $800.00 and gave the stock a “neutral” rating in a report on Friday, May 31st. Argus upped their price objective on Costco Wholesale from $805.00 to $900.00 and gave the stock a “buy” rating in a report on Tuesday, May 28th. Finally, Tigress Financial upped their price objective on Costco Wholesale from $870.00 to $975.00 and gave the stock a “buy” rating in a report on Tuesday, June 25th. Seven research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $766.73.

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.