Convergence Investment Partners LLC Has $822,000 Stock Holdings in Costco Wholesale Co. (NASDAQ:COST)

Convergence Investment Partners LLC grew its holdings in Costco Wholesale Co. (NASDAQ:COST) by 32.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,245 shares of the retailer’s stock after purchasing an additional 303 shares during the quarter. Convergence Investment Partners LLC’s holdings in Costco Wholesale were worth $822,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Richelieu Gestion SA acquired a new position in Costco Wholesale during the 4th quarter worth approximately $25,000. Morton Brown Family Wealth LLC raised its stake 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 buying an additional 30 shares during the period. Wetzel Investment Advisors Inc. acquired a new position in Costco Wholesale during the 4th quarter worth approximately $30,000. Steph & Co. raised its stake 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 buying an additional 22 shares during the period. Finally, Valued Wealth Advisors LLC acquired a new position in Costco Wholesale during the 4th quarter worth approximately $49,000. 68.48% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. StockNews.com downgraded Costco Wholesale from a “buy” rating to a “hold” rating in a research note on Friday, April 12th. Telsey Advisory Group reissued an “outperform” rating and issued a $800.00 price objective on shares of Costco Wholesale in a research note on Thursday, April 11th. Wells Fargo & Company increased their price objective on Costco Wholesale from $610.00 to $675.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 8th. Oppenheimer increased their price objective on Costco Wholesale from $760.00 to $805.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 5th. Finally, The Goldman Sachs Group increased their price objective 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 issued a buy rating to the stock. Based on data from MarketBeat.com, Costco Wholesale presently has an average rating of “Moderate Buy” and a consensus price target of $694.48.

Insider Transactions at Costco Wholesale

In other news, EVP Claudine Adamo sold 1,500 shares of the business’s 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 sale, the executive vice president now directly owns 6,695 shares of the company’s stock, valued at approximately $4,785,786.85. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 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 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Claudine Adamo sold 1,500 shares of the company’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 in the company, valued at $4,785,786.85. The disclosure for this sale can be found here. Insiders have sold a total of 3,727 shares of company stock valued at $2,682,948 in the last ninety days. 0.18% of the stock is currently owned by corporate insiders.

Costco Wholesale Stock Up 1.0 %

Shares of COST stock traded up $7.32 during midday trading on Friday, reaching $729.18. 1,524,431 shares of the stock were exchanged, compared to its average volume of 1,663,722. Costco Wholesale Co. has a 1 year low of $476.75 and a 1 year high of $787.08. The company’s 50 day moving average is $730.41 and its two-hundred day moving average is $666.77. 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 has a market cap of $323.39 billion, a PE ratio of 47.69, a price-to-earnings-growth ratio of 4.86 and a beta of 0.77.

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

Costco Wholesale Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Shareholders of record on Friday, April 26th will be issued a dividend of $1.16 per share. This is an increase from Costco Wholesale’s previous quarterly dividend of $1.02. 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%. Costco Wholesale’s dividend payout ratio is 30.35%.

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.