Baldwin Investment Management LLC Trims Stake in Costco Wholesale Co. (NASDAQ:COST)

Baldwin Investment Management LLC lowered its position in Costco Wholesale Co. (NASDAQ:COST - Free Report) by 3.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 9,540 shares of the retailer's stock after selling 315 shares during the period. Costco Wholesale accounts for 1.1% of Baldwin Investment Management LLC's portfolio, making the stock its 8th largest holding. Baldwin Investment Management LLC's holdings in Costco Wholesale were worth $8,741,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in shares of Costco Wholesale by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 42,201,610 shares of the retailer's stock valued at $38,668,069,000 after purchasing an additional 455,043 shares during the period. Geode Capital Management LLC raised its holdings in Costco Wholesale by 2.7% in the 4th quarter. Geode Capital Management LLC now owns 9,739,175 shares of the retailer's stock worth $8,901,249,000 after acquiring an additional 252,118 shares during the period. FMR LLC lifted its position in Costco Wholesale by 1.6% during the 4th quarter. FMR LLC now owns 9,457,824 shares of the retailer's stock worth $8,665,921,000 after acquiring an additional 149,209 shares during the last quarter. Norges Bank bought a new stake in Costco Wholesale during the fourth quarter valued at about $5,182,316,000. Finally, Northern Trust Corp grew its position in shares of Costco Wholesale by 12.6% in the fourth quarter. Northern Trust Corp now owns 5,257,809 shares of the retailer's stock valued at $4,817,573,000 after purchasing an additional 587,303 shares during the last quarter. Institutional investors own 68.48% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Loop Capital cut their price objective on Costco Wholesale from $1,150.00 to $1,045.00 and set a "buy" rating for the company in a research report on Wednesday, April 9th. Robert W. Baird increased their price objective on Costco Wholesale from $1,075.00 to $1,125.00 and gave the company an "outperform" rating in a research report on Friday, March 7th. Truist Financial increased their price target on shares of Costco Wholesale from $935.00 to $995.00 and gave the company a "hold" rating in a report on Friday, March 7th. Barclays boosted their price objective on shares of Costco Wholesale from $940.00 to $980.00 and gave the stock an "equal weight" rating in a report on Monday, March 10th. Finally, Stifel Nicolaus reduced their target price on shares of Costco Wholesale from $1,075.00 to $1,035.00 and set a "buy" rating for the company in a research note on Thursday, March 20th. Ten investment analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $1,024.03.

Insiders Place Their Bets

In other news, EVP James C. Klauer sold 4,000 shares of Costco Wholesale stock in a transaction on Thursday, April 17th. The stock was sold at an average price of $981.07, for a total value of $3,924,280.00. Following the completion of the sale, the executive vice president now directly owns 43,994 shares of the company's stock, valued at approximately $43,161,193.58. This trade represents a 8.33 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Claudine Adamo sold 900 shares of the company's stock in a transaction on Monday, March 24th. The shares were sold at an average price of $922.56, for a total value of $830,304.00. Following the transaction, the executive vice president now directly owns 6,987 shares in the company, valued at $6,445,926.72. This trade represents a 11.41 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 9,600 shares of company stock valued at $9,140,195. Insiders own 0.18% of the company's stock.

Costco Wholesale Price Performance

NASDAQ COST traded up $6.59 during trading hours on Monday, reaching $1,014.89. 1,950,563 shares of the company's stock were exchanged, compared to its average volume of 2,033,033. The firm has a fifty day moving average of $961.10 and a 200-day moving average of $960.83. Costco Wholesale Co. has a one year low of $746.48 and a one year high of $1,078.24. The stock has a market cap of $450.29 billion, a PE ratio of 59.59, a price-to-earnings-growth ratio of 6.15 and a beta of 0.95. The company has a current ratio of 0.98, a quick ratio of 0.43 and a debt-to-equity ratio of 0.23.

Costco Wholesale (NASDAQ:COST - Get Free Report) last announced its earnings results on Thursday, March 6th. The retailer reported $4.02 EPS for the quarter, missing the consensus estimate of $4.09 by ($0.07). Costco Wholesale had a return on equity of 32.31% and a net margin of 2.93%. The business had revenue of $63.72 billion for the quarter, compared to the consensus estimate of $63.02 billion. On average, equities research analysts predict that Costco Wholesale Co. will post 18.03 earnings per share for the current fiscal year.

Costco Wholesale Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 16th. Shareholders of record on Friday, May 2nd will be given a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 0.51%. The ex-dividend date is Friday, May 2nd. This is a boost from Costco Wholesale's previous quarterly dividend of $1.16. Costco Wholesale's dividend payout ratio (DPR) is presently 30.36%.

Costco Wholesale Profile

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.