Palumbo Wealth Management LLC Reduces Holdings in Costco Wholesale Co. (NASDAQ:COST)

Palumbo Wealth Management LLC lowered its position in Costco Wholesale Co. (NASDAQ:COST) by 2.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,786 shares of the retailer’s stock after selling 96 shares during the quarter. Costco Wholesale comprises about 1.6% of Palumbo Wealth Management LLC’s portfolio, making the stock its 15th largest position. Palumbo Wealth Management LLC’s holdings in Costco Wholesale were worth $3,159,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in COST. United Bank lifted its position in shares of Costco Wholesale by 9.2% during the first quarter. United Bank now owns 5,254 shares of the retailer’s stock worth $3,026,000 after purchasing an additional 444 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in Costco Wholesale by 33.6% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 383,691 shares of the retailer’s stock worth $220,948,000 after buying an additional 96,566 shares during the period. Covestor Ltd lifted its holdings in Costco Wholesale by 87.1% during the 1st quarter. Covestor Ltd now owns 232 shares of the retailer’s stock valued at $134,000 after buying an additional 108 shares in the last quarter. Bridgefront Capital LLC purchased a new stake in Costco Wholesale in the 1st quarter valued at about $333,000. Finally, Next Century Growth Investors LLC grew its stake in Costco Wholesale by 0.9% in the 1st quarter. Next Century Growth Investors LLC now owns 3,414 shares of the retailer’s stock worth $1,965,000 after acquiring an additional 30 shares in the last quarter. Institutional investors own 68.48% of the company’s stock.

Costco Wholesale Trading Up 0.1 %

NASDAQ COST opened at $733.33 on Monday. Costco Wholesale Co. has a 1 year low of $476.75 and a 1 year high of $787.08. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.93 and a quick ratio of 0.43. The company has a market capitalization of $325.23 billion, a PE ratio of 47.92, a P/E/G ratio of 5.07 and a beta of 0.77. The company has a fifty day moving average of $725.95 and a 200 day moving average of $645.04.

Costco Wholesale (NASDAQ:COST) last issued its quarterly earnings data on Thursday, March 7th. The retailer reported $3.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.62 by $0.09. The business had revenue of $58.44 billion during the quarter, compared to analysts’ expectations of $59.11 billion. Costco Wholesale had a return on equity of 28.80% and a net margin of 2.73%. The company’s revenue for the quarter was up 5.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.30 EPS. Research analysts forecast that Costco Wholesale Co. will post 15.81 earnings per share for the current year.

Costco Wholesale Dividend Announcement

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

Wall Street Analysts Forecast Growth

COST has been the subject of a number of research reports. The Goldman Sachs Group boosted their price target on Costco Wholesale from $665.00 to $749.00 and gave the company a “buy” rating in a report on Thursday, February 8th. Oppenheimer lifted their price objective on Costco Wholesale from $760.00 to $805.00 and gave the company an “outperform” rating in a report on Tuesday, March 5th. StockNews.com cut shares of Costco Wholesale from a “buy” rating to a “hold” rating in a report on Friday, March 8th. Wells Fargo & Company boosted their price target on shares of Costco Wholesale from $610.00 to $675.00 and gave the company an “equal weight” rating in a report on Thursday, February 8th. Finally, UBS Group increased their price objective on shares of Costco Wholesale from $640.00 to $725.00 and gave the company a “buy” rating in a research note on Friday, December 15th. Seven investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $668.50.

Insider Transactions at Costco Wholesale

In other news, EVP Caton Frates sold 740 shares of the stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $683.50, for a total transaction of $505,790.00. Following the sale, the executive vice president now directly owns 6,721 shares of the company’s stock, valued at approximately $4,593,803.50. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, EVP Caton Frates sold 740 shares of the firm’s stock in a transaction that occurred on Tuesday, January 16th. The stock was sold at an average price of $683.50, for a total value of $505,790.00. Following the transaction, the executive vice president now owns 6,721 shares in the company, valued at $4,593,803.50. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 value of $1,072,245.00. Following the completion of the sale, the executive vice president now directly owns 6,695 shares in the company, valued at $4,785,786.85. The disclosure for this sale can be found here. Insiders have sold 15,582 shares of company stock valued at $10,736,778 in the last 90 days. 0.18% of the stock is currently owned by company 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.