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

Highland Capital Management LLC cut 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 38,164 shares of the retailer’s stock after selling 130 shares during the period. Costco Wholesale accounts for 1.6% of Highland Capital Management LLC’s holdings, making the stock its 8th biggest position. Highland Capital Management LLC’s holdings in Costco Wholesale were worth $25,191,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in COST. Howard Financial Services LTD. grew its stake in Costco Wholesale by 1.8% in the 4th quarter. Howard Financial Services LTD. now owns 870 shares of the retailer’s stock valued at $574,000 after acquiring an additional 15 shares during the last quarter. Canandaigua National Bank & Trust Co. grew its stake in Costco Wholesale by 0.5% in the 4th quarter. Canandaigua National Bank & Trust Co. now owns 3,211 shares of the retailer’s stock valued at $2,120,000 after acquiring an additional 16 shares during the last quarter. Advisory Resource Group grew its stake in Costco Wholesale by 1.3% in the 4th quarter. Advisory Resource Group now owns 1,291 shares of the retailer’s stock valued at $852,000 after acquiring an additional 16 shares during the last quarter. Shira Ridge Wealth Management grew its stake in Costco Wholesale by 1.3% in the 4th quarter. Shira Ridge Wealth Management now owns 1,367 shares of the retailer’s stock valued at $902,000 after acquiring an additional 17 shares during the last quarter. Finally, Global Strategic Investment Solutions LLC grew its stake in Costco Wholesale by 1.1% in the 4th quarter. Global Strategic Investment Solutions LLC now owns 1,602 shares of the retailer’s stock valued at $1,057,000 after acquiring an additional 17 shares during the last quarter. 68.48% of the stock is owned by hedge funds and other institutional investors.

Costco Wholesale Stock Up 0.2 %

COST stock opened at $732.08 on Thursday. Costco Wholesale Co. has a twelve month low of $476.75 and a twelve month high of $787.08. The company has a current ratio of 0.93, a quick ratio of 0.43 and a debt-to-equity ratio of 0.28. The company has a market capitalization of $324.68 billion, a P/E ratio of 47.88, a PEG ratio of 5.07 and a beta of 0.77. The firm has a 50 day simple moving average of $723.33 and a 200-day simple moving average of $641.98.

Costco Wholesale (NASDAQ:COST) last released its quarterly earnings results on Thursday, March 7th. The retailer reported $3.71 earnings per share for the quarter, topping analysts’ consensus estimates of $3.62 by $0.09. Costco Wholesale had a net margin of 2.73% and a return on equity of 28.80%. The business had revenue of $58.44 billion during the quarter, compared to the consensus estimate of $59.11 billion. During the same quarter last year, the company earned $3.30 earnings per share. The business’s quarterly revenue was up 5.7% compared to the same quarter last year. On average, equities research analysts predict that Costco Wholesale Co. will post 15.78 earnings per share for the current fiscal year.

Costco Wholesale Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 16th. Stockholders of record on Friday, February 2nd were given a dividend of $1.02 per share. This represents a $4.08 dividend on an annualized basis and a dividend yield of 0.56%. The ex-dividend date of this dividend was Thursday, February 1st. Costco Wholesale’s payout ratio is currently 26.68%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on COST. Telsey Advisory Group increased their price objective on shares of Costco Wholesale from $750.00 to $785.00 and gave the company an “outperform” rating in a research note on Monday, March 4th. The Goldman Sachs Group raised their price target on shares of Costco Wholesale from $665.00 to $749.00 and gave the stock a “buy” rating in a research note on Thursday, February 8th. BMO Capital Markets raised their price target on shares of Costco Wholesale from $612.00 to $700.00 and gave the stock an “outperform” rating in a research note on Friday, December 15th. Raymond James raised their price target on shares of Costco Wholesale from $580.00 to $670.00 and gave the stock an “outperform” rating in a research note on Friday, December 15th. Finally, StockNews.com cut shares of Costco Wholesale from a “buy” rating to a “hold” rating in a research note on Friday, March 8th. Seven equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $668.50.

Insiders Place Their Bets

In other Costco Wholesale news, VP Yoram Rubanenko sold 2,500 shares of Costco Wholesale stock in a transaction on Thursday, January 18th. The shares were sold at an average price of $680.33, for a total value of $1,700,825.00. Following the completion of the transaction, the vice president now owns 5,910 shares of the company’s stock, valued at $4,020,750.30. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Costco Wholesale news, Director Susan L. Decker sold 1,442 shares of the business’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $723.48, for a total transaction of $1,043,258.16. Following the sale, the director now owns 12,395 shares in the company, valued at approximately $8,967,534.60. 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 dated Thursday, January 18th. The stock was sold at an average price of $680.33, for a total value of $1,700,825.00. Following the sale, the vice president now owns 5,910 shares in the company, valued at approximately $4,020,750.30. The disclosure for this sale can be found here. Insiders sold a total of 15,582 shares of company stock valued at $10,736,778 over the last 90 days. 0.18% of the stock is owned by company insiders.

Costco Wholesale Company Profile

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.