Clear Rock Advisors LLC Purchases Shares of 4,866 Costco Wholesale Co. (NASDAQ:COST)

Clear Rock Advisors LLC purchased a new stake in Costco Wholesale Co. (NASDAQ:COSTFree Report) in the fourth quarter, HoldingsChannel.com reports. The firm purchased 4,866 shares of the retailer’s stock, valued at approximately $3,520,000. Costco Wholesale makes up about 1.6% of Clear Rock Advisors LLC’s portfolio, making the stock its 13th biggest holding.

A number of other hedge funds have also modified their holdings of COST. Norges Bank acquired a new stake in Costco Wholesale during the fourth quarter worth about $3,628,694,000. Northern Trust Corp lifted its position in shares of Costco Wholesale by 4.3% in the third quarter. Northern Trust Corp now owns 5,134,947 shares of the retailer’s stock valued at $2,901,040,000 after acquiring an additional 210,586 shares in the last quarter. International Assets Investment Management LLC lifted its position in shares of Costco Wholesale by 61,693.5% in the fourth quarter. International Assets Investment Management LLC now owns 3,105,124 shares of the retailer’s stock valued at $2,049,630,000 after acquiring an additional 3,100,099 shares in the last quarter. Fisher Asset Management LLC lifted its position in shares of Costco Wholesale by 3.2% in the fourth quarter. Fisher Asset Management LLC now owns 2,794,480 shares of the retailer’s stock valued at $1,844,581,000 after acquiring an additional 85,398 shares in the last quarter. Finally, Wellington Management Group LLP lifted its position in shares of Costco Wholesale by 0.9% in the third quarter. Wellington Management Group LLP now owns 2,689,514 shares of the retailer’s stock valued at $1,519,468,000 after acquiring an additional 24,274 shares in the last quarter. 68.48% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently commented on COST. TD Cowen lifted their price objective on Costco Wholesale from $777.00 to $850.00 and gave the stock a “buy” rating in a research report on Friday. Gordon Haskett downgraded Costco Wholesale from a “buy” rating to an “accumulate” rating and set a $775.00 price objective on the stock. in a research report on Wednesday, April 3rd. Citigroup lifted their price objective on Costco Wholesale from $710.00 to $800.00 and gave the stock a “neutral” rating in a research report on Friday. Tigress Financial lifted their price objective on Costco Wholesale from $745.00 to $870.00 and gave the stock a “buy” rating in a research report on Friday, March 15th. Finally, Wells Fargo & Company raised their target price on Costco Wholesale from $750.00 to $775.00 and gave the stock an “equal weight” rating in a research note on Friday. Seven equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $743.52.

Check Out Our Latest Stock Report on Costco Wholesale

Costco Wholesale Stock Performance

COST stock traded down $5.45 during trading on Friday, hitting $809.89. The company had a trading volume of 4,360,692 shares, compared to its average volume of 1,619,287. The firm has a market cap of $359.19 billion, a PE ratio of 52.97, a price-to-earnings-growth ratio of 5.39 and a beta of 0.77. Costco Wholesale Co. has a 1-year low of $501.59 and a 1-year high of $819.50. The firm has a 50-day moving average price of $750.13 and a 200-day moving average price of $704.61. The company has a quick ratio of 0.43, a current ratio of 0.93 and a debt-to-equity ratio of 0.28.

Costco Wholesale (NASDAQ:COSTGet Free Report) last issued its quarterly earnings results on Thursday, May 30th. The retailer reported $3.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.70 by $0.08. Costco Wholesale had a return on equity of 28.80% and a net margin of 2.73%. The firm had revenue of $58.52 billion for the quarter, compared to analysts’ expectations of $58.16 billion. During the same quarter in the previous year, the firm posted $3.43 EPS. The firm’s revenue for the quarter was up 9.1% on a year-over-year basis. On average, analysts expect that Costco Wholesale Co. will post 15.88 earnings per share for the current year.

Costco Wholesale Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 10th. Shareholders of record on Friday, April 26th were given a dividend of $1.16 per share. This is a boost from Costco Wholesale’s previous quarterly dividend of $1.02. The ex-dividend date of this dividend was Thursday, April 25th. This represents a $4.64 annualized dividend and a yield of 0.57%. Costco Wholesale’s payout ratio is presently 30.35%.

Insiders Place Their Bets

In related news, EVP Russell D. Miller sold 785 shares of the company’s stock in a transaction that occurred on Wednesday, April 17th. The stock was sold at an average price of $722.86, for a total value of $567,445.10. Following the sale, the executive vice president now owns 10,000 shares in the company, valued at approximately $7,228,600. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, EVP Russell D. Miller sold 785 shares of the firm’s stock in a transaction that occurred on 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 transaction, the executive vice president now directly owns 10,000 shares of the company’s stock, valued at approximately $7,228,600. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Claudine Adamo sold 1,500 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the executive vice president now directly owns 6,695 shares of the company’s stock, valued at $4,785,786.85. The disclosure for this sale can be found here. 0.18% of the stock is currently owned by insiders.

Costco Wholesale Profile

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding COST? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Costco Wholesale Co. (NASDAQ:COSTFree Report).

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

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