Wedbush Securities Inc. Increases Stake in Costco Wholesale Co. (COST)

Wedbush Securities Inc. lifted its position in Costco Wholesale Co. (NASDAQ:COST) by 4.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 13,580 shares of the retailer’s stock after acquiring an additional 609 shares during the period. Wedbush Securities Inc.’s holdings in Costco Wholesale were worth $2,766,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the company. Bigelow Investment Advisors LLC increased its position in Costco Wholesale by 3.3% during the 4th quarter. Bigelow Investment Advisors LLC now owns 1,575 shares of the retailer’s stock valued at $321,000 after buying an additional 50 shares in the last quarter. Cornerstone Advisors Inc. increased its position in Costco Wholesale by 2.1% during the 3rd quarter. Cornerstone Advisors Inc. now owns 2,557 shares of the retailer’s stock valued at $601,000 after buying an additional 53 shares in the last quarter. Truewealth LLC increased its position in Costco Wholesale by 2.6% during the 4th quarter. Truewealth LLC now owns 2,216 shares of the retailer’s stock valued at $451,000 after buying an additional 56 shares in the last quarter. Wendell David Associates Inc. boosted its stake in Costco Wholesale by 4.6% during the 4th quarter. Wendell David Associates Inc. now owns 1,374 shares of the retailer’s stock valued at $280,000 after purchasing an additional 60 shares during the last quarter. Finally, Mount Vernon Associates Inc. MD boosted its stake in Costco Wholesale by 0.5% during the 4th quarter. Mount Vernon Associates Inc. MD now owns 13,137 shares of the retailer’s stock valued at $2,676,000 after purchasing an additional 60 shares during the last quarter. 78.27% of the stock is owned by hedge funds and other institutional investors.

In related news, Director Susan L. Decker sold 1,611 shares of the firm’s stock in a transaction on Friday, January 4th. The stock was sold at an average price of $206.15, for a total value of $332,107.65. Following the transaction, the director now directly owns 51,389 shares of the company’s stock, valued at approximately $10,593,842.35. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Susan L. Decker sold 739 shares of the firm’s stock in a transaction on Wednesday, January 2nd. The stock was sold at an average price of $205.00, for a total value of $151,495.00. Following the completion of the transaction, the director now directly owns 52,249 shares in the company, valued at $10,711,045. The disclosure for this sale can be found here. Company insiders own 0.21% of the company’s stock.

Several analysts have commented on the company. Citigroup downgraded Costco Wholesale from a “buy” rating to a “neutral” rating and cut their target price for the company from $257.00 to $238.00 in a research note on Monday, December 3rd. BidaskClub upgraded Costco Wholesale from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, October 23rd. Wells Fargo & Co cut their target price on Costco Wholesale from $235.00 to $220.00 and set a “market perform” rating on the stock in a research note on Friday, December 14th. They noted that the move was a valuation call. Loop Capital cut their target price on Costco Wholesale to $260.00 and set a “buy” rating on the stock in a research note on Friday, December 14th. Finally, Oppenheimer cut their target price on Costco Wholesale from $262.00 to $240.00 in a research note on Friday, December 14th. Seven equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $242.15.

Shares of COST stock traded up $2.71 on Tuesday, reaching $211.43. The stock had a trading volume of 16,219 shares, compared to its average volume of 2,205,991. The company has a market cap of $91.51 billion, a P/E ratio of 30.84, a price-to-earnings-growth ratio of 2.72 and a beta of 0.94. Costco Wholesale Co. has a 1 year low of $180.05 and a 1 year high of $245.16. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.02 and a quick ratio of 0.48.

Costco Wholesale (NASDAQ:COST) last released its quarterly earnings results on Thursday, December 13th. The retailer reported $1.61 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.62 by ($0.01). The firm had revenue of $34.31 billion during the quarter, compared to analysts’ expectations of $34.66 billion. Costco Wholesale had a return on equity of 24.54% and a net margin of 2.25%. The business’s quarterly revenue was up 10.3% on a year-over-year basis. During the same quarter last year, the business earned $1.45 earnings per share. As a group, analysts expect that Costco Wholesale Co. will post 7.65 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, February 22nd. Stockholders of record on Friday, February 8th will be paid a $0.57 dividend. The ex-dividend date of this dividend is Thursday, February 7th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 1.08%. Costco Wholesale’s dividend payout ratio (DPR) is currently 33.38%.

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Costco Wholesale Profile

Costco Wholesale Corporation, together with its subsidiaries, operates membership warehouses. It offers branded and private-label products in a range of merchandise categories. The company provides dry and packaged foods, and groceries; snack foods, candies, alcoholic and nonalcoholic beverages, and cleaning supplies; appliances, electronics, health and beauty aids, hardware, and garden and patio products; meat, bakery, deli, and produces; and apparel and small appliances.

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

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