Buffington Mohr McNeal Cuts Holdings in Costco Wholesale Corporation (NASDAQ:COST)

Buffington Mohr McNeal cut its stake in Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 8.1% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 32,188 shares of the retailer's stock after selling 2,850 shares during the quarter. Costco Wholesale comprises about 6.0% of Buffington Mohr McNeal's holdings, making the stock its 3rd biggest holding. Buffington Mohr McNeal's holdings in Costco Wholesale were worth $30,443,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Investment Management Corp VA ADV purchased a new position in Costco Wholesale during the fourth quarter valued at $25,000. Synergy Investment Management LLC purchased a new position in Costco Wholesale during the 4th quarter valued at about $31,000. NewSquare Capital LLC boosted its stake in Costco Wholesale by 250.0% during the fourth quarter. NewSquare Capital LLC now owns 35 shares of the retailer's stock worth $32,000 after acquiring an additional 25 shares in the last quarter. Clear Investment Research LLC increased its stake in shares of Costco Wholesale by 22.2% during the fourth quarter. Clear Investment Research LLC now owns 55 shares of the retailer's stock valued at $51,000 after purchasing an additional 10 shares in the last quarter. Finally, Aspect Partners LLC increased its stake in shares of Costco Wholesale by 24.4% during the first quarter. Aspect Partners LLC now owns 56 shares of the retailer's stock valued at $53,000 after purchasing an additional 11 shares in the last quarter. 68.48% of the stock is owned by hedge funds and other institutional investors.

Costco Wholesale Price Performance

COST stock opened at $986.27 on Friday. The company has a market capitalization of $437.39 billion, a PE ratio of 55.94, a price-to-earnings-growth ratio of 6.11 and a beta of 0.97. The company's fifty day moving average price is $1,005.02 and its 200-day moving average price is $981.05. Costco Wholesale Corporation has a one year low of $793.00 and a one year high of $1,078.24. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.52 and a current ratio of 1.02.

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

Costco Wholesale Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 16th. Shareholders of record on Friday, May 2nd were given a dividend of $1.30 per share. The ex-dividend date of this dividend was Friday, May 2nd. This is an increase from Costco Wholesale's previous quarterly dividend of $1.16. This represents a $5.20 dividend on an annualized basis and a yield of 0.53%. Costco Wholesale's dividend payout ratio is 29.50%.

Insider Buying and Selling

In other news, EVP Pierre Riel sold 2,000 shares of the firm's stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $1,014.15, for a total value of $2,028,300.00. Following the completion of the sale, the executive vice president owned 8,210 shares in the company, valued at approximately $8,326,171.50. This trade represents a 19.59% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Susan L. Decker sold 547 shares of the company's stock in a transaction that occurred on Wednesday, June 18th. The shares were sold at an average price of $980.00, for a total value of $536,060.00. Following the transaction, the director directly owned 11,531 shares in the company, valued at approximately $11,300,380. This represents a 4.53% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 9,547 shares of company stock worth $9,496,950. 0.18% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

COST has been the subject of a number of analyst reports. Evercore ISI reduced their price objective on Costco Wholesale from $1,075.00 to $1,060.00 and set an "outperform" rating for the company in a research report on Tuesday, June 17th. Telsey Advisory Group reaffirmed an "outperform" rating and set a $1,100.00 price target on shares of Costco Wholesale in a report on Thursday. Sanford C. Bernstein restated an "outperform" rating on shares of Costco Wholesale in a report on Friday, March 7th. Loop Capital decreased their target price on shares of Costco Wholesale from $1,115.00 to $1,110.00 and set a "buy" rating for the company in a research note on Thursday, May 29th. Finally, Cowen reissued a "buy" rating on shares of Costco Wholesale in a research report on Friday, March 7th. Nine research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $1,034.79.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.