Pittenger & Anderson Inc. Trims Stock Position in Costco Wholesale Co. (NASDAQ:COST)

Pittenger & Anderson Inc. lessened its stake in Costco Wholesale Co. (NASDAQ:COST) by 1.0% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 55,926 shares of the retailer’s stock after selling 552 shares during the period. Costco Wholesale comprises about 1.7% of Pittenger & Anderson Inc.’s investment portfolio, making the stock its 9th largest position. Pittenger & Anderson Inc.’s holdings in Costco Wholesale were worth $36,916,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in COST. Richelieu Gestion SA bought a new stake in shares of Costco Wholesale during the 4th quarter valued at about $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. Institutional investors own 68.48% of the company’s stock.

Costco Wholesale Price Performance

NASDAQ COST traded up $7.59 during trading hours on Friday, reaching $729.45. 660,628 shares of the stock traded hands, compared to its average volume of 2,044,761. The stock has a 50 day simple moving average of $730.31 and a two-hundred day simple moving average of $664.86. Costco Wholesale Co. has a 1 year low of $476.75 and a 1 year high of $787.08. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.93 and a quick ratio of 0.43. The company has a market cap of $323.51 billion, a price-to-earnings ratio of 47.62, a price-to-earnings-growth ratio of 4.82 and a beta of 0.77.

Costco Wholesale (NASDAQ:COST) last released its quarterly earnings data on Thursday, March 7th. The retailer reported $3.71 EPS for the quarter, topping the consensus estimate of $3.62 by $0.09. The firm had revenue of $58.44 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.30 earnings per share. On average, analysts predict that Costco Wholesale Co. will post 15.84 EPS for the current fiscal year.

Costco Wholesale Increases Dividend

The business also recently disclosed 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. The ex-dividend date is Thursday, April 25th. This represents a $4.64 annualized dividend and a dividend yield of 0.64%. This is an increase from Costco Wholesale’s previous quarterly dividend of $1.02. Costco Wholesale’s payout ratio is currently 26.68%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on COST. Oppenheimer upped their price target on Costco Wholesale from $760.00 to $805.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 5th. Evercore ISI increased their price objective on Costco Wholesale from $795.00 to $805.00 and gave the stock an “outperform” rating in a research note on Thursday, April 11th. 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. Roth Mkm increased their price objective on Costco Wholesale from $601.00 to $650.00 and gave the stock a “neutral” rating in a research note on Thursday, April 11th. Finally, DA Davidson reissued a “neutral” rating and issued a $680.00 price objective on shares of Costco Wholesale in a research note on Thursday, April 11th. Seven research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $694.48.

Insider Transactions at Costco Wholesale

In other news, EVP Claudine Adamo sold 1,500 shares of Costco Wholesale stock in a transaction dated 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 transaction, the executive vice president now owns 6,695 shares in the company, valued at $4,785,786.85. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Costco Wholesale news, Director Susan L. Decker sold 1,442 shares of Costco Wholesale stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $723.48, for a total transaction of $1,043,258.16. Following the sale, the director now directly owns 12,395 shares of the company’s stock, valued at approximately $8,967,534.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Claudine Adamo sold 1,500 shares of Costco Wholesale 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 sale, 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. Over the last quarter, insiders have sold 3,727 shares of company stock worth $2,682,948. Company 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.