Costco Wholesale Corporation (NASDAQ:COST) Position Raised by Baldwin Investment Management LLC

Key Points

• Baldwin Investment Management LLC increased its stake in Costco Wholesale Corporation by 4.1%, acquiring 389 additional shares, bringing its total holdings to nearly 10,000 shares valued at approximately $9.39 million.
• Institutional investors own 68.48% of Costco's stock, with several firms recently increasing their stakes, indicating strong institutional interest in the company.
• Costco recently reported earnings per share of $4.28, surpassing analysts' expectations, alongside a revenue increase of 8% year-over-year, totaling $63.21 billion.

Baldwin Investment Management LLC lifted its holdings in Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 4.1% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 9,929 shares of the retailer's stock after purchasing an additional 389 shares during the quarter. Costco Wholesale comprises 1.1% of Baldwin Investment Management LLC's holdings, making the stock its 7th biggest position. Baldwin Investment Management LLC's holdings in Costco Wholesale were worth $9,390,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in COST. Peninsula Wealth LLC raised its stake in Costco Wholesale by 1.2% during the fourth quarter. Peninsula Wealth LLC now owns 818 shares of the retailer's stock worth $749,000 after purchasing an additional 10 shares during the period. Bosun Asset Management LLC grew its stake in Costco Wholesale by 1.6% in the 4th quarter. Bosun Asset Management LLC now owns 636 shares of the retailer's stock valued at $583,000 after acquiring an additional 10 shares during the last quarter. Corps Capital Advisors LLC lifted its holdings in shares of Costco Wholesale by 0.7% during the 1st quarter. Corps Capital Advisors LLC now owns 1,547 shares of the retailer's stock worth $1,463,000 after acquiring an additional 10 shares during the period. NFP Retirement Inc. grew its position in Costco Wholesale by 1.1% in the fourth quarter. NFP Retirement Inc. now owns 980 shares of the retailer's stock valued at $898,000 after acquiring an additional 11 shares in the last quarter. Finally, Coppell Advisory Solutions LLC grew its position in shares of Costco Wholesale by 0.3% during the fourth quarter. Coppell Advisory Solutions LLC now owns 3,437 shares of the retailer's stock worth $3,163,000 after buying an additional 11 shares in the last quarter. Institutional investors and hedge funds own 68.48% of the company's stock.

Costco Wholesale Stock Up 1.5%

Costco Wholesale stock traded up $14.09 during trading hours on Thursday, hitting $941.60. The company had a trading volume of 1,393,631 shares, compared to its average volume of 2,204,183. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.02 and a quick ratio of 0.52. The firm has a market capitalization of $417.58 billion, a P/E ratio of 53.34, a price-to-earnings-growth ratio of 5.81 and a beta of 0.97. The firm's fifty day moving average is $986.03 and its 200-day moving average is $983.48. Costco Wholesale Corporation has a fifty-two week low of $793.00 and a fifty-two week high of $1,078.23.

Costco Wholesale (NASDAQ:COST - Get Free Report) last issued its earnings results on Thursday, May 29th. The retailer reported $4.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.24 by $0.04. The company had revenue of $63.21 billion for the quarter, compared to analyst estimates of $62.93 billion. Costco Wholesale had a net margin of 2.92% and a return on equity of 30.48%. The company's revenue for the quarter was up 8.0% on a year-over-year basis. During the same quarter last year, the firm earned $3.78 EPS. On average, research analysts forecast that Costco Wholesale Corporation will post 18.03 earnings per share for the current year.

Costco Wholesale Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Friday, August 1st will be given a $1.30 dividend. The ex-dividend date is Friday, August 1st. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.55%. Costco Wholesale's payout ratio is presently 29.50%.

Wall Street Analysts Forecast Growth

COST has been the topic of a number of research analyst reports. Cfra Research raised Costco Wholesale from a "hold" rating to a "moderate buy" rating in a report on Friday, April 4th. Wall Street Zen upgraded Costco Wholesale from a "hold" rating to a "buy" rating in a report on Friday, June 6th. Evercore ISI lowered their price target on Costco Wholesale from $1,075.00 to $1,060.00 and set an "outperform" rating on the stock in a research report on Tuesday, June 17th. Truist Financial increased their target price on Costco Wholesale from $995.00 to $1,042.00 and gave the stock a "hold" rating in a report on Friday, May 30th. Finally, Loop Capital dropped their price target on Costco Wholesale from $1,115.00 to $1,110.00 and set a "buy" rating on the stock in a research report on Thursday, May 29th. Nine analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. Based on data from MarketBeat, Costco Wholesale presently has a consensus rating of "Moderate Buy" and a consensus price target of $1,037.48.

Insider Activity

In other news, EVP Patrick J. Callans sold 3,000 shares of Costco Wholesale stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $1,002.77, for a total transaction of $3,008,310.00. Following the completion of the transaction, the executive vice president directly owned 58,543 shares in the company, valued at $58,705,164.11. This trade represents a 4.87% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Yoram Rubanenko sold 4,000 shares of Costco Wholesale stock in a transaction on Monday, July 14th. The stock was sold at an average price of $974.96, for a total transaction of $3,899,840.00. Following the transaction, the executive vice president directly owned 5,774 shares in the company, valued at $5,629,419.04. This represents a 40.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 9,547 shares of company stock worth $9,472,510. 0.18% of the stock is owned by company 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, 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.