Cahaba Wealth Management Inc. Lowers Position in Costco Wholesale Co. (NASDAQ:COST)

Cahaba Wealth Management Inc. trimmed its holdings in shares of Costco Wholesale Co. (NASDAQ:COSTFree Report) by 5.1% in the fourth quarter, HoldingsChannel.com reports. The fund owned 1,101 shares of the retailer’s stock after selling 59 shares during the period. Cahaba Wealth Management Inc.’s holdings in Costco Wholesale were worth $727,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. Richelieu Gestion SA purchased a new stake in shares of Costco Wholesale during the fourth quarter valued at approximately $25,000. Sanctuary Wealth Management L.L.C. purchased a new stake in shares of Costco Wholesale during the fourth quarter valued at approximately $26,000. Steph & Co. increased its position in Costco Wholesale by 42.3% in the third quarter. Steph & Co. now owns 74 shares of the retailer’s stock worth $42,000 after buying an additional 22 shares during the last quarter. Valued Wealth Advisors LLC purchased a new stake in Costco Wholesale in the fourth quarter worth $49,000. Finally, Iron Horse Wealth Management LLC increased its position in Costco Wholesale by 888.9% in the third quarter. Iron Horse Wealth Management LLC now owns 89 shares of the retailer’s stock worth $50,000 after buying an additional 80 shares during the last quarter. 68.48% of the stock is owned by hedge funds and other institutional investors.

Costco Wholesale Trading Down 1.4 %

Shares of COST traded down $9.94 during trading hours on Tuesday, hitting $711.30. The company had a trading volume of 2,324,582 shares, compared to its average volume of 2,153,023. The firm has a market cap of $315.46 billion, a P/E ratio of 46.52, a P/E/G ratio of 5.07 and a beta of 0.77. The stock’s 50 day moving average price is $726.52 and its 200 day moving average price is $646.75. The company has a quick ratio of 0.43, a current ratio of 0.93 and a debt-to-equity ratio of 0.28. Costco Wholesale Co. has a 52-week low of $476.75 and a 52-week high of $787.08.

Costco Wholesale (NASDAQ:COSTGet Free Report) last announced its quarterly earnings results on Thursday, March 7th. The retailer reported $3.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.62 by $0.09. Costco Wholesale had a return on equity of 28.80% and a net margin of 2.73%. The company had revenue of $58.44 billion for the quarter, compared to the consensus estimate of $59.11 billion. During the same quarter in the previous year, the business earned $3.30 EPS. Costco Wholesale’s revenue was up 5.7% compared to the same quarter last year. On average, research analysts predict that Costco Wholesale Co. will post 15.81 EPS for the current year.

Costco Wholesale Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 16th. Investors of record on Friday, February 2nd were issued a dividend of $1.02 per share. The ex-dividend date was Thursday, February 1st. This represents a $4.08 dividend on an annualized basis and a yield of 0.57%. Costco Wholesale’s dividend payout ratio is presently 26.68%.

Analyst Ratings Changes

A number of research firms have issued reports on COST. Loop Capital raised their target price on Costco Wholesale from $710.00 to $755.00 in a research report on Friday, January 19th. Stifel Nicolaus raised their target price on Costco Wholesale from $615.00 to $675.00 and gave the stock a “buy” rating in a research report on Friday, December 15th. Tigress Financial raised their target price on Costco Wholesale from $745.00 to $870.00 and gave the stock a “buy” rating in a research report on Friday, March 15th. UBS Group raised their target price on Costco Wholesale from $640.00 to $725.00 and gave the stock a “buy” rating in a research report on Friday, December 15th. Finally, Northcoast Research downgraded Costco Wholesale from a “buy” rating to a “neutral” rating and set a $620.00 target price for the company. in a research report on Wednesday, December 20th. Seven analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $668.50.

Get Our Latest Analysis on COST

Insider Activity at Costco Wholesale

In related news, insider Daniel M. Hines sold 1,400 shares of the business’s stock in a transaction dated Tuesday, January 9th. The stock was sold at an average price of $662.30, for a total transaction of $927,220.00. Following the transaction, the insider now owns 13,922 shares in the company, valued at approximately $9,220,540.60. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Costco Wholesale news, EVP Claudine Adamo sold 1,500 shares of Costco Wholesale stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $714.83, for a total transaction of $1,072,245.00. Following the sale, the executive vice president now directly owns 6,695 shares of the company’s stock, valued at approximately $4,785,786.85. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Daniel M. Hines sold 1,400 shares of Costco Wholesale stock in a transaction that occurred on Tuesday, January 9th. The shares were sold at an average price of $662.30, for a total value of $927,220.00. Following the sale, the insider now directly owns 13,922 shares in the company, valued at $9,220,540.60. The disclosure for this sale can be found here. Insiders have sold a total of 15,582 shares of company stock worth $10,736,778 in the last 90 days. Company insiders own 0.18% of the company’s stock.

Costco Wholesale Company Profile

(Free Report)

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.

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

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