Prudential Financial Inc. Boosts Stock Holdings in Costco Wholesale Co. (NASDAQ:COST)

Prudential Financial Inc. increased its position in shares of Costco Wholesale Co. (NASDAQ:COST) by 0.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 386,380 shares of the retailer’s stock after buying an additional 983 shares during the period. Prudential Financial Inc.’s holdings in Costco Wholesale were worth $354,028,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in COST. Hirtle Callaghan & Co LLC grew its position in shares of Costco Wholesale by 13.6% during the 4th quarter. Hirtle Callaghan & Co LLC now owns 767 shares of the retailer’s stock valued at $703,000 after acquiring an additional 92 shares during the period. Interchange Capital Partners LLC grew its holdings in Costco Wholesale by 3.7% in the fourth quarter. Interchange Capital Partners LLC now owns 988 shares of the retailer’s stock valued at $905,000 after purchasing an additional 35 shares during the period. Jackson Thornton Wealth Management LLC purchased a new stake in shares of Costco Wholesale in the fourth quarter valued at approximately $288,000. Corebridge Financial Inc. raised its stake in shares of Costco Wholesale by 0.8% during the 4th quarter. Corebridge Financial Inc. now owns 138,024 shares of the retailer’s stock worth $126,467,000 after buying an additional 1,054 shares during the period. Finally, Dillon & Associates Inc. lifted its position in shares of Costco Wholesale by 8.7% during the 4th quarter. Dillon & Associates Inc. now owns 8,114 shares of the retailer’s stock valued at $7,432,000 after buying an additional 647 shares in the last quarter. Institutional investors and hedge funds own 68.48% of the company’s stock.

Costco Wholesale Trading Up 1.5 %

Shares of COST stock opened at $909.26 on Monday. Costco Wholesale Co. has a 1-year low of $697.27 and a 1-year high of $1,078.24. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.98 and a quick ratio of 0.43. The company has a 50-day moving average of $987.55 and a two-hundred day moving average of $945.45. The firm has a market cap of $403.42 billion, a PE ratio of 53.39, a price-to-earnings-growth ratio of 6.15 and a beta of 0.82.

Costco Wholesale (NASDAQ:COST) last announced its earnings results on Thursday, March 6th. The retailer reported $4.02 EPS for the quarter, missing analysts’ consensus estimates of $4.09 by ($0.07). The firm had revenue of $63.72 billion for the quarter, compared to analysts’ expectations of $63.02 billion. Costco Wholesale had a net margin of 2.93% and a return on equity of 32.31%. On average, analysts predict that Costco Wholesale Co. will post 18.03 EPS for the current year.

Costco Wholesale Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 21st. Shareholders of record on Friday, February 7th were given a $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a yield of 0.51%. The ex-dividend date was Friday, February 7th. Costco Wholesale’s dividend payout ratio is currently 27.09%.

Analyst Ratings Changes

A number of equities analysts have weighed in on COST shares. Loop Capital reduced their price objective on shares of Costco Wholesale from $1,150.00 to $1,135.00 and set a “buy” rating for the company in a research report on Friday, March 7th. Stifel Nicolaus reduced their price target on shares of Costco Wholesale from $1,075.00 to $1,035.00 and set a “buy” rating for the company in a research report on Thursday. Cowen reiterated a “buy” rating on shares of Costco Wholesale in a report on Friday, March 7th. JPMorgan Chase & Co. increased their target price on Costco Wholesale from $1,065.00 to $1,070.00 and gave the company an “overweight” rating in a report on Friday, March 7th. Finally, Morgan Stanley raised their target price on Costco Wholesale from $950.00 to $1,150.00 and gave the company an “overweight” rating in a research report on Friday, December 13th. Nine equities research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,029.00.

Insider Activity at Costco Wholesale

In other news, CEO Roland Michael Vachris sold 3,600 shares of the stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $931.00, for a total value of $3,351,600.00. Following the transaction, the chief executive officer now owns 41,077 shares in the company, valued at approximately $38,242,687. This represents a 8.06 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.18% of the stock is owned by corporate insiders.

About Costco Wholesale

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.