Costco Wholesale Co. (NASDAQ:COST) Stock Position Lowered by Clifford Swan Investment Counsel LLC

Clifford Swan Investment Counsel LLC cut its holdings in Costco Wholesale Co. (NASDAQ:COST) by 1.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 123,349 shares of the retailer’s stock after selling 1,932 shares during the period. Costco Wholesale accounts for about 3.2% of Clifford Swan Investment Counsel LLC’s portfolio, making the stock its 4th largest holding. Clifford Swan Investment Counsel LLC’s holdings in Costco Wholesale were worth $81,420,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. B. Riley Wealth Advisors Inc. increased its holdings in Costco Wholesale by 1.0% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 28,855 shares of the retailer’s stock valued at $16,302,000 after purchasing an additional 273 shares during the last quarter. Keating Investment Counselors Inc. raised its holdings in shares of Costco Wholesale by 43.0% in the 3rd quarter. Keating Investment Counselors Inc. now owns 2,643 shares of the retailer’s stock valued at $1,493,000 after buying an additional 795 shares during the period. Cerity Partners LLC lifted its stake in Costco Wholesale by 28.9% during the 4th quarter. Cerity Partners LLC now owns 272,288 shares of the retailer’s stock worth $179,822,000 after acquiring an additional 61,122 shares in the last quarter. Rice Partnership LLC boosted its holdings in Costco Wholesale by 21.0% during the 3rd quarter. Rice Partnership LLC now owns 11,741 shares of the retailer’s stock valued at $6,633,000 after acquiring an additional 2,038 shares during the period. Finally, Rappaport Reiches Capital Management LLC grew its position in Costco Wholesale by 23.5% in the 4th quarter. Rappaport Reiches Capital Management LLC now owns 814 shares of the retailer’s stock valued at $538,000 after acquiring an additional 155 shares in the last quarter. 68.48% of the stock is currently owned by hedge funds and other institutional investors.

Costco Wholesale Stock Performance

Costco Wholesale stock traded up $11.46 during mid-day trading on Friday, reaching $743.90. 2,323,300 shares of the company were exchanged, compared to its average volume of 1,605,560. The firm’s 50-day simple moving average is $730.46 and its two-hundred day simple moving average is $673.08. Costco Wholesale Co. has a twelve month low of $476.75 and a twelve month high of $787.08. The firm has a market cap of $329.92 billion, a PE ratio of 48.65, a price-to-earnings-growth ratio of 4.95 and a beta of 0.77. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.43 and a current ratio of 0.93.

Costco Wholesale (NASDAQ:COST) last released its quarterly earnings results on Thursday, March 7th. The retailer reported $3.71 EPS for the quarter, topping the consensus estimate of $3.62 by $0.09. The business had revenue of $58.44 billion during the quarter, compared to analysts’ expectations of $59.11 billion. Costco Wholesale had a return on equity of 28.80% and a net margin of 2.73%. The company’s quarterly revenue was up 5.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.30 earnings per share. Equities analysts predict 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 $1.16 dividend. 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 annualized dividend and a dividend yield of 0.62%. Costco Wholesale’s payout ratio is presently 30.35%.

Insider Buying and Selling

In other Costco Wholesale news, EVP Russell D. Miller sold 785 shares of Costco Wholesale 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 of the company’s stock, valued at approximately $7,228,600. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Costco Wholesale news, Director Susan L. Decker sold 1,442 shares of the 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 completion of the transaction, the director now owns 12,395 shares in the company, valued at $8,967,534.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Russell D. Miller sold 785 shares of the business’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 sale, the executive vice president now owns 10,000 shares in the company, valued at $7,228,600. The disclosure for this sale can be found here. Insiders sold 3,727 shares of company stock valued at $2,682,948 over the last ninety days. Corporate insiders own 0.18% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Loop Capital reduced their target price on shares of Costco Wholesale from $830.00 to $820.00 and set a “buy” rating on the stock in a report on Thursday, April 11th. Telsey Advisory Group reiterated an “outperform” rating and issued a $800.00 target price on shares of Costco Wholesale in a report on Thursday, April 11th. Gordon Haskett downgraded Costco Wholesale from a “buy” rating to an “accumulate” rating and set a $775.00 price target on the stock. in a report on Wednesday, April 3rd. The Goldman Sachs Group lifted their price objective on Costco Wholesale from $665.00 to $749.00 and gave the company a “buy” rating in a research note on Thursday, February 8th. Finally, StockNews.com lowered shares of Costco Wholesale from a “buy” rating to a “hold” rating in a research note on Friday, April 12th. Seven investment 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 currently has a consensus rating of “Moderate Buy” and an average price target 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.