Retirement Systems of Alabama Reduces Stock Holdings in Costco Wholesale Co. (NASDAQ:COST)

Retirement Systems of Alabama trimmed its holdings in shares of Costco Wholesale Co. (NASDAQ:COST) by 1.2% during the 4th quarter, Holdings Channel reports. The institutional investor owned 218,675 shares of the retailer’s stock after selling 2,623 shares during the period. Costco Wholesale comprises 0.6% of Retirement Systems of Alabama’s holdings, making the stock its 27th largest holding. Retirement Systems of Alabama’s holdings in Costco Wholesale were worth $144,343,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in COST. Richelieu Gestion SA purchased a new position in Costco Wholesale during the 4th quarter worth $25,000. Morton Brown Family Wealth LLC lifted its position in Costco Wholesale by 200.0% during the 4th quarter. Morton Brown Family Wealth LLC now owns 45 shares of the retailer’s stock worth $30,000 after acquiring an additional 30 shares during the period. Wetzel Investment Advisors Inc. acquired a new stake in Costco Wholesale during the 4th quarter worth about $30,000. Steph & Co. lifted 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 acquiring an additional 22 shares during the period. Finally, Valued Wealth Advisors LLC acquired a new stake in Costco Wholesale during the 4th quarter worth about $49,000. 68.48% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have commented on the company. StockNews.com cut Costco Wholesale from a “buy” rating to a “hold” rating in a research report on Friday, April 12th. Loop Capital lowered their price target on Costco Wholesale from $830.00 to $820.00 and set a “buy” rating for the company in a research report on Thursday, April 11th. Citigroup boosted their price objective on Costco Wholesale from $630.00 to $710.00 and gave the company a “neutral” rating in a report on Tuesday, April 23rd. The Goldman Sachs Group boosted their price objective on Costco Wholesale from $665.00 to $749.00 and gave the company a “buy” rating in a report on Thursday, February 8th. Finally, Telsey Advisory Group reissued an “outperform” rating and issued a $800.00 price objective on shares of Costco Wholesale in a report on Thursday, April 11th. Seven analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $694.48.

Costco Wholesale Price Performance

NASDAQ:COST traded up $7.32 during trading hours on Friday, hitting $729.18. 1,524,431 shares of the stock were exchanged, compared to its average volume of 1,663,722. 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 firm’s fifty day moving average price is $730.41 and its 200 day moving average price is $666.77. The company has a market cap of $323.39 billion, a P/E ratio of 47.69, a P/E/G ratio of 4.86 and a beta of 0.77. Costco Wholesale Co. has a 52-week low of $476.75 and a 52-week high of $787.08.

Costco Wholesale (NASDAQ:COST) last posted its quarterly earnings results on Thursday, March 7th. The retailer reported $3.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.62 by $0.09. The business had revenue of $58.44 billion during the quarter, compared to analyst estimates of $59.11 billion. Costco Wholesale had a return on equity of 28.80% and a net margin of 2.73%. The business’s revenue was up 5.7% compared to the same quarter last year. During the same period in the prior year, the business earned $3.30 earnings per share. As a group, equities research analysts anticipate that Costco Wholesale Co. will post 15.84 EPS for the current fiscal year.

Costco Wholesale Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 10th. Stockholders of record on Friday, April 26th will be given a $1.16 dividend. The ex-dividend date is Thursday, April 25th. This is a positive change from Costco Wholesale’s previous quarterly dividend of $1.02. This represents a $4.64 dividend on an annualized basis and a dividend yield of 0.64%. Costco Wholesale’s dividend payout ratio is 30.35%.

Insider Activity

In related news, Director Susan L. Decker sold 1,442 shares of the stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $723.48, for a total value of $1,043,258.16. Following the completion of the transaction, the director now directly owns 12,395 shares in the company, valued at $8,967,534.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Costco Wholesale news, EVP Russell D. Miller sold 785 shares of the company’s stock in a transaction on Wednesday, April 17th. The stock was sold at an average price of $722.86, for a total transaction of $567,445.10. Following the transaction, the executive vice president now directly owns 10,000 shares in the company, valued at $7,228,600. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Susan L. Decker sold 1,442 shares of the company’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $723.48, for a total value of $1,043,258.16. Following the transaction, the director now owns 12,395 shares in the company, valued at $8,967,534.60. The disclosure for this sale can be found here. Insiders sold 3,727 shares of company stock worth $2,682,948 over the last ninety days. Corporate insiders own 0.18% of the company’s stock.

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.