Massachusetts Financial Services Co. MA Lowers Holdings in Costco Wholesale Co. (NASDAQ:COST)

Massachusetts Financial Services Co. MA decreased its stake in Costco Wholesale Co. (NASDAQ:COSTFree Report) by 1.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 277,870 shares of the retailer’s stock after selling 4,088 shares during the period. Massachusetts Financial Services Co. MA owned 0.06% of Costco Wholesale worth $156,985,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of COST. Sanctuary Wealth Management L.L.C. acquired a new position in Costco Wholesale in the 4th quarter valued at approximately $26,000. Horizon Bancorp Inc. IN acquired a new position in Costco Wholesale during the 2nd quarter valued at about $38,000. Steph & Co. boosted its stake in shares of Costco Wholesale by 42.3% in the 3rd quarter. Steph & Co. now owns 74 shares of the retailer’s stock valued at $42,000 after purchasing an additional 22 shares during the last quarter. Iron Horse Wealth Management LLC grew its position in shares of Costco Wholesale by 888.9% during the 3rd 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 period. Finally, Focused Wealth Management Inc raised its stake in shares of Costco Wholesale by 101.5% during the second quarter. Focused Wealth Management Inc now owns 90 shares of the retailer’s stock worth $48,000 after buying an additional 6,000 shares during the last quarter. 66.31% of the stock is owned by institutional investors and hedge funds.

Costco Wholesale Stock Performance

NASDAQ COST opened at $710.79 on Wednesday. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.09 and a quick ratio of 0.60. The company has a fifty day moving average price of $661.93 and a 200-day moving average price of $596.67. Costco Wholesale Co. has a 1 year low of $465.33 and a 1 year high of $714.28. The firm has a market cap of $315.40 billion, a price-to-earnings ratio of 48.45, a PEG ratio of 5.14 and a beta of 0.77.

Costco Wholesale (NASDAQ:COSTGet Free Report) last released its quarterly earnings results on Thursday, December 14th. The retailer reported $3.48 earnings per share for the quarter, topping the consensus estimate of $3.41 by $0.07. Costco Wholesale had a net margin of 2.65% and a return on equity of 27.44%. The business had revenue of $57.80 billion for the quarter, compared to analysts’ expectations of $57.79 billion. During the same period in the previous year, the company earned $3.10 earnings per share. The firm’s revenue for the quarter was up 8.2% compared to the same quarter last year. As a group, equities research analysts predict that Costco Wholesale Co. will post 15.6 EPS for the current fiscal year.

Costco Wholesale Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, February 16th. Shareholders of record on Friday, February 2nd will be paid a $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a yield of 0.57%. The ex-dividend date is Thursday, February 1st. Costco Wholesale’s payout ratio is 27.81%.

Insider Buying and Selling at Costco Wholesale

In other news, Director W Craig Jelinek sold 8,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 23rd. The shares were sold at an average price of $685.93, for a total value of $5,487,440.00. Following the sale, the director now owns 216,212 shares of the company’s stock, valued at $148,306,297.16. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Costco Wholesale news, Director W Craig Jelinek sold 8,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 23rd. The shares were sold at an average price of $685.93, for a total value of $5,487,440.00. Following the completion of the transaction, the director now owns 216,212 shares of the company’s stock, valued at approximately $148,306,297.16. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP Yoram Rubanenko sold 2,500 shares of the business’s stock in a transaction that occurred on Thursday, January 18th. The stock was sold at an average price of $680.33, for a total transaction of $1,700,825.00. Following the completion of the transaction, the vice president now directly owns 5,910 shares of the company’s stock, valued at approximately $4,020,750.30. The disclosure for this sale can be found here. Insiders have sold a total of 13,752 shares of company stock worth $9,377,669 over the last three months. 0.18% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of brokerages recently commented on COST. JPMorgan Chase & Co. decreased their price objective on Costco Wholesale from $620.00 to $605.00 and set an “overweight” rating for the company in a research note on Thursday, November 2nd. DA Davidson lifted their target price on Costco Wholesale from $570.00 to $600.00 and gave the stock a “neutral” rating in a report on Friday, December 15th. Citigroup lifted their target price on Costco Wholesale from $585.00 to $630.00 and gave the stock a “neutral” rating in a report on Friday, December 15th. Northcoast Research lowered Costco Wholesale from a “buy” rating to a “neutral” rating and set a $620.00 target price on the stock. in a report on Wednesday, December 20th. Finally, BMO Capital Markets lifted their target price on Costco Wholesale from $612.00 to $700.00 and gave the stock an “outperform” rating in a report on Friday, December 15th. Seven analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $643.75.

Read Our Latest Stock Report on COST

Costco Wholesale 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.

Further Reading

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

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