Ropes Wealth Advisors LLC Reduces Position in Costco Wholesale Co. (NASDAQ:COST)

Ropes Wealth Advisors LLC trimmed its holdings in Costco Wholesale Co. (NASDAQ:COSTGet Rating) by 52.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,140 shares of the retailer’s stock after selling 3,421 shares during the period. Ropes Wealth Advisors LLC’s holdings in Costco Wholesale were worth $1,783,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Evolution Advisers Inc. purchased a new position in shares of Costco Wholesale during the fourth quarter worth about $28,000. AHL Investment Management Inc. purchased a new stake in shares of Costco Wholesale during the 4th quarter valued at $43,000. PSI Advisors LLC purchased a new stake in shares of Costco Wholesale during the 3rd quarter valued at $37,000. Consolidated Planning Corp purchased a new stake in shares of Costco Wholesale during the 3rd quarter valued at $41,000. Finally, Andrew Hill Investment Advisors Inc. purchased a new stake in shares of Costco Wholesale during the 4th quarter valued at $52,000. 67.52% of the stock is currently owned by institutional investors and hedge funds.

A number of research firms have recently issued reports on COST. Evercore ISI upped their price objective on Costco Wholesale from $605.00 to $610.00 in a report on Thursday, April 7th. BMO Capital Markets lifted their price target on shares of Costco Wholesale from $560.00 to $580.00 and gave the stock an “outperform” rating in a research note on Friday, March 4th. StockNews.com started coverage on shares of Costco Wholesale in a research note on Thursday, March 31st. They set a “buy” rating on the stock. Zacks Investment Research raised shares of Costco Wholesale from a “hold” rating to a “buy” rating and set a $595.00 price target on the stock in a research note on Monday, March 21st. Finally, Telsey Advisory Group upped their price target on shares of Costco Wholesale from $610.00 to $615.00 and gave the company an “outperform” rating in a research report on Friday, March 4th. Six investment analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $576.79.

In related news, insider Daniel M. Hines sold 4,498 shares of the firm’s stock in a transaction that occurred on Friday, April 8th. The stock was sold at an average price of $603.00, for a total transaction of $2,712,294.00. Following the completion of the transaction, the insider now owns 13,108 shares of the company’s stock, valued at approximately $7,904,124. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Claudine Adamo sold 500 shares of the firm’s stock in a transaction that occurred on Friday, April 8th. The shares were sold at an average price of $602.03, for a total value of $301,015.00. Following the transaction, the executive vice president now directly owns 9,939 shares of the company’s stock, valued at approximately $5,983,576.17. The disclosure for this sale can be found here. Insiders sold a total of 9,248 shares of company stock worth $5,417,137 over the last ninety days. Insiders own 0.22% of the company’s stock.

Shares of NASDAQ COST traded up $11.09 during midday trading on Friday, hitting $497.27. 2,337,780 shares of the company traded hands, compared to its average volume of 2,523,248. Costco Wholesale Co. has a 12-month low of $375.50 and a 12-month high of $612.27. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.51 and a current ratio of 1.03. The stock has a 50-day moving average price of $554.67 and a 200 day moving average price of $534.66. The firm has a market cap of $220.40 billion, a P/E ratio of 40.07, a P/E/G ratio of 4.12 and a beta of 0.70.

Costco Wholesale (NASDAQ:COSTGet Rating) last released its earnings results on Thursday, March 3rd. The retailer reported $2.92 EPS for the quarter, beating analysts’ consensus estimates of $2.74 by $0.18. The company had revenue of $51.90 billion during the quarter, compared to analysts’ expectations of $51.51 billion. Costco Wholesale had a return on equity of 30.10% and a net margin of 2.62%. The firm’s revenue for the quarter was up 15.9% compared to the same quarter last year. During the same quarter last year, the business posted $2.14 EPS. As a group, equities analysts expect that Costco Wholesale Co. will post 13.07 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, May 13th. Stockholders of record on Friday, April 29th were issued a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a dividend yield of 0.72%. The ex-dividend date was Thursday, April 28th. This is a boost from Costco Wholesale’s previous quarterly dividend of $0.79. Costco Wholesale’s payout ratio is 29.01%.

Costco Wholesale Company Profile (Get Rating)

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.

Further Reading

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

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