Costco Wholesale Co. (NASDAQ:COST) Stock Position Cut by Weik Capital Management

Weik Capital Management reduced its holdings in shares of Costco Wholesale Co. (NASDAQ:COST) by 0.9% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 8,891 shares of the retailer’s stock after selling 83 shares during the period. Costco Wholesale accounts for 3.3% of Weik Capital Management’s portfolio, making the stock its 7th biggest position. Weik Capital Management’s holdings in Costco Wholesale were worth $8,147,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in COST. RPg Family Wealth Advisory LLC acquired a new stake in Costco Wholesale during the third quarter valued at approximately $29,000. Synergy Investment Management LLC acquired a new stake in shares of Costco Wholesale during the 4th quarter valued at approximately $31,000. NewSquare Capital LLC lifted its stake in Costco Wholesale by 250.0% during the fourth quarter. NewSquare Capital LLC now owns 35 shares of the retailer’s stock worth $32,000 after purchasing an additional 25 shares during the last quarter. Endeavor Private Wealth Inc. acquired a new position in Costco Wholesale in the fourth quarter worth $33,000. Finally, Collier Financial bought a new stake in Costco Wholesale during the fourth quarter valued at $35,000. Institutional investors and hedge funds own 68.48% of the company’s stock.

Insider Transactions at Costco Wholesale

In other news, EVP Gary Millerchip sold 1,100 shares of the firm’s stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $940.01, for a total transaction of $1,034,011.00. Following the completion of the sale, the executive vice president now directly owns 11,165 shares of the company’s stock, valued at $10,495,211.65. This trade represents a 8.97 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Roland Michael Vachris sold 3,600 shares of the business’s stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $931.00, for a total value of $3,351,600.00. Following the completion of the sale, the chief executive officer now directly owns 41,077 shares of the company’s stock, valued at approximately $38,242,687. The trade was a 8.06 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 5,600 shares of company stock valued at $5,215,915. 0.18% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research firms have recently commented on COST. Evercore ISI lifted their price target on shares of Costco Wholesale from $1,050.00 to $1,070.00 and gave the company an “outperform” rating in a report on Tuesday, March 11th. JPMorgan Chase & Co. upped 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. Cowen restated a “buy” rating on shares of Costco Wholesale in a research report on Friday, March 7th. Truist Financial increased their target price on Costco Wholesale from $935.00 to $995.00 and gave the stock a “hold” rating in a research report on Friday, March 7th. Finally, Citigroup upped their price target on shares of Costco Wholesale from $800.00 to $1,060.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 18th. Nine analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $1,029.00.

Costco Wholesale Stock Up 1.0 %

COST stock opened at $938.75 on Friday. The company’s 50 day simple moving average is $988.34 and its 200-day simple moving average is $945.95. Costco Wholesale Co. has a 52-week low of $697.27 and a 52-week 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 firm has a market capitalization of $416.51 billion, a P/E ratio of 55.12, a P/E/G ratio of 6.15 and a beta of 0.82.

Costco Wholesale (NASDAQ:COST) last released its earnings results on Thursday, March 6th. The retailer reported $4.02 earnings per share for the quarter, missing the consensus estimate of $4.09 by ($0.07). The business 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%. As a group, equities research analysts anticipate 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. Stockholders of record on Friday, February 7th were issued a dividend of $1.16 per share. This represents a $4.64 annualized dividend and a dividend yield of 0.49%. The ex-dividend date was Friday, February 7th. Costco Wholesale’s dividend payout ratio is currently 27.09%.

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.