Spinnaker Trust Raises Stake in Costco Wholesale Co. (NASDAQ:COST)

Spinnaker Trust increased its stake in shares of Costco Wholesale Co. (NASDAQ:COST) by 2.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,766 shares of the retailer’s stock after buying an additional 245 shares during the quarter. Spinnaker Trust’s holdings in Costco Wholesale were worth $5,786,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Richelieu Gestion SA acquired a new stake in shares of Costco Wholesale in the 4th quarter worth $25,000. Morton Brown Family Wealth LLC lifted its position in Costco Wholesale by 200.0% in the fourth quarter. Morton Brown Family Wealth LLC now owns 45 shares of the retailer’s stock valued at $30,000 after purchasing an additional 30 shares during the period. Wetzel Investment Advisors Inc. purchased a new stake in Costco Wholesale in the 4th quarter valued at approximately $30,000. Steph & Co. increased its position in Costco Wholesale by 42.3% during the 3rd quarter. Steph & Co. now owns 74 shares of the retailer’s stock worth $42,000 after purchasing an additional 22 shares during the period. Finally, Valued Wealth Advisors LLC purchased a new position in shares of Costco Wholesale during the 4th quarter worth approximately $49,000. Hedge funds and other institutional investors own 68.48% of the company’s stock.

Costco Wholesale Trading Up 1.0 %

Costco Wholesale stock traded up $7.32 during trading on Friday, reaching $729.18. The company had a trading volume of 1,523,745 shares, compared to its average volume of 2,055,590. Costco Wholesale Co. has a 12-month low of $476.75 and a 12-month high of $787.08. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.43 and a current ratio of 0.93. The stock’s 50 day moving average price is $730.41 and its two-hundred day moving average price is $666.04. The firm has a market capitalization of $323.39 billion, a price-to-earnings ratio of 47.69, a PEG ratio of 4.82 and a beta of 0.77.

Costco Wholesale (NASDAQ:COST) last announced 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. Costco Wholesale had a net margin of 2.73% and a return on equity of 28.80%. The company had revenue of $58.44 billion during the quarter, compared to analysts’ expectations of $59.11 billion. During the same period in the previous year, the company earned $3.30 EPS. The business’s quarterly revenue was up 5.7% compared to the same quarter last year. As a group, equities analysts expect that Costco Wholesale Co. will post 15.84 earnings per share for the current fiscal year.

Costco Wholesale Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Stockholders of record on Friday, April 26th will be issued a dividend of $1.16 per share. The ex-dividend date is Thursday, April 25th. This represents a $4.64 dividend on an annualized basis and a dividend yield of 0.64%. This is a boost from Costco Wholesale’s previous quarterly dividend of $1.02. Costco Wholesale’s payout ratio is presently 26.68%.

Insider Buying and Selling

In other news, EVP Russell D. Miller sold 785 shares of the firm’s stock in a transaction on Wednesday, April 17th. The shares were sold at an average price of $722.86, for a total value of $567,445.10. Following the transaction, the executive vice president now owns 10,000 shares of the company’s stock, valued at approximately $7,228,600. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, EVP Russell D. Miller sold 785 shares of the stock in a transaction dated Wednesday, April 17th. The stock was sold at an average price of $722.86, for a total value of $567,445.10. Following the completion of the sale, the executive vice president now owns 10,000 shares in the company, valued at $7,228,600. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Claudine Adamo sold 1,500 shares of the firm’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $714.83, for a total value of $1,072,245.00. Following the sale, the executive vice president now owns 6,695 shares in the company, valued at $4,785,786.85. The disclosure for this sale can be found here. In the last quarter, insiders sold 3,727 shares of company stock valued at $2,682,948. 0.18% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

COST has been the topic of a number of analyst reports. DA Davidson restated a “neutral” rating and issued a $680.00 price target on shares of Costco Wholesale in a research note on Thursday, April 11th. Loop Capital lowered their price target on shares of Costco Wholesale from $830.00 to $820.00 and set a “buy” rating on the stock in a research note on Thursday, April 11th. Citigroup raised their price objective on shares of Costco Wholesale from $630.00 to $710.00 and gave the company a “neutral” rating in a research note on Tuesday. Tigress Financial increased their target price on shares of Costco Wholesale from $745.00 to $870.00 and gave the company a “buy” rating in a report on Friday, March 15th. Finally, The Goldman Sachs Group boosted their price target on Costco Wholesale from $665.00 to $749.00 and gave the stock a “buy” rating in a research note on Thursday, February 8th. Seven analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $694.48.

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.