Linscomb & Williams Inc. Lowers Stock Position in Costco Wholesale Co. (NASDAQ:COST)

Linscomb & Williams Inc. lessened its holdings in Costco Wholesale Co. (NASDAQ:COST) by 0.6% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 6,582 shares of the retailer’s stock after selling 39 shares during the period. Linscomb & Williams Inc.’s holdings in Costco Wholesale were worth $2,320,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Allegiant Private Advisors LLC bought a new position in shares of Costco Wholesale during the 4th quarter worth approximately $469,000. Ironwood Wealth Management LLC. raised its stake in shares of Costco Wholesale by 993.3% during the 4th quarter. Ironwood Wealth Management LLC. now owns 2,777 shares of the retailer’s stock worth $1,046,000 after acquiring an additional 2,523 shares in the last quarter. Mattern Capital Management LLC raised its stake in shares of Costco Wholesale by 0.7% during the 4th quarter. Mattern Capital Management LLC now owns 14,725 shares of the retailer’s stock worth $5,548,000 after acquiring an additional 101 shares in the last quarter. Almanack Investment Partners LLC. raised its stake in shares of Costco Wholesale by 3.6% during the 4th quarter. Almanack Investment Partners LLC. now owns 1,537 shares of the retailer’s stock worth $579,000 after acquiring an additional 53 shares in the last quarter. Finally, Baker Tilly Financial LLC bought a new position in shares of Costco Wholesale during the 4th quarter worth approximately $300,000. 65.57% of the stock is owned by hedge funds and other institutional investors.

Shares of NASDAQ COST opened at $383.01 on Friday. The business’s fifty day moving average price is $375.16. Costco Wholesale Co. has a 1 year low of $293.84 and a 1 year high of $393.15. The stock has a market capitalization of $169.32 billion, a P/E ratio of 36.00, a PEG ratio of 4.02 and a beta of 0.65. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.00 and a quick ratio of 0.50.

Costco Wholesale (NASDAQ:COST) last announced its quarterly earnings results on Wednesday, May 26th. The retailer reported $2.75 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.28 by $0.47. Costco Wholesale had a net margin of 2.53% and a return on equity of 27.30%. The firm had revenue of $44.38 billion for the quarter, compared to the consensus estimate of $43.82 billion. During the same period in the prior year, the firm posted $1.89 earnings per share. The firm’s quarterly revenue was up 21.8% compared to the same quarter last year. As a group, equities analysts predict that Costco Wholesale Co. will post 10.37 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, May 14th. Investors of record on Friday, April 30th were issued a dividend of $0.79 per share. The ex-dividend date was Thursday, April 29th. This is an increase from Costco Wholesale’s previous quarterly dividend of $0.70. This represents a $3.16 dividend on an annualized basis and a yield of 0.83%. Costco Wholesale’s dividend payout ratio is 35.71%.

Several research analysts recently commented on the stock. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell boosted their price objective on shares of Costco Wholesale from $380.00 to $400.00 and gave the stock a “neutral” rating in a research note on Wednesday, June 2nd. Stifel Nicolaus upped their price target on shares of Costco Wholesale from $390.00 to $410.00 and gave the company a “buy” rating in a research note on Friday, May 28th. Oppenheimer upped their price target on shares of Costco Wholesale from $400.00 to $425.00 and gave the company an “outperform” rating in a research note on Tuesday, May 18th. Loop Capital upped their price target on shares of Costco Wholesale from $415.00 to $425.00 and gave the company a “buy” rating in a research note on Friday, May 28th. They noted that the move was a valuation call. Finally, Citigroup cut their price target on shares of Costco Wholesale from $380.00 to $360.00 and set a “neutral” rating on the stock in a research note on Friday, March 5th. Nine research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $401.00.

In other Costco Wholesale news, VP Patrick J. Callans sold 2,500 shares of the stock in a transaction on Monday, June 7th. The shares were sold at an average price of $384.31, for a total transaction of $960,775.00. Following the transaction, the vice president now directly owns 59,718 shares of the company’s stock, valued at $22,950,224.58. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Richard A. Galanti sold 2,230 shares of the stock in a transaction on Thursday, April 29th. The shares were sold at an average price of $372.06, for a total transaction of $829,693.80. Following the transaction, the chief financial officer now directly owns 22,871 shares in the company, valued at $8,509,384.26. The disclosure for this sale can be found here. Insiders have sold 9,030 shares of company stock worth $3,227,959 over the last three months. 0.22% of the stock is currently owned by insiders.

Costco Wholesale Company Profile

Costco Wholesale Corporation, together with its subsidiaries, engages in the operation of membership warehouses in the United States, Puerto Rico, Canada, the United Kingdom, Mexico, Japan, Korea, Australia, Spain, France, Iceland, China, and Taiwan. It offers branded and private-label products in a range of merchandise categories.

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

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