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Costco Wholesale Corporation (NASDAQ:COST) Shares Sold by Lord Abbett & CO. LLC

Costco Wholesale logo with Retail/Wholesale background

Lord Abbett & CO. LLC cut its holdings in shares of Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 12.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 187,996 shares of the retailer's stock after selling 26,308 shares during the period. Lord Abbett & CO. LLC's holdings in Costco Wholesale were worth $177,803,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC increased its holdings in shares of Costco Wholesale by 12.3% in the fourth quarter. Brighton Jones LLC now owns 19,825 shares of the retailer's stock valued at $18,165,000 after buying an additional 2,172 shares in the last quarter. Revolve Wealth Partners LLC raised its stake in Costco Wholesale by 13.1% during the 4th quarter. Revolve Wealth Partners LLC now owns 1,123 shares of the retailer's stock valued at $1,029,000 after purchasing an additional 130 shares during the period. Bank Pictet & Cie Europe AG raised its stake in Costco Wholesale by 45.0% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 117,254 shares of the retailer's stock valued at $107,436,000 after purchasing an additional 36,384 shares during the period. Highview Capital Management LLC DE raised its stake in Costco Wholesale by 0.8% during the 4th quarter. Highview Capital Management LLC DE now owns 4,813 shares of the retailer's stock valued at $4,410,000 after purchasing an additional 40 shares during the period. Finally, Hudson Value Partners LLC raised its stake in Costco Wholesale by 5.7% during the 4th quarter. Hudson Value Partners LLC now owns 8,501 shares of the retailer's stock valued at $7,789,000 after purchasing an additional 455 shares during the period. 68.48% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Costco Wholesale

In related news, Director Susan L. Decker sold 547 shares of the firm'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 completion of the sale, the director owned 11,531 shares of the company's stock, valued at $11,300,380. This trade represents a 4.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Pierre Riel sold 2,000 shares of the firm's stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $1,014.15, for a total transaction of $2,028,300.00. Following the completion of the sale, the executive vice president directly owned 8,210 shares of the company's stock, valued at approximately $8,326,171.50. This represents a 19.59% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 9,547 shares of company stock worth $9,472,510. 0.18% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

COST has been the topic of several recent analyst reports. JPMorgan Chase & Co. boosted their target price on shares of Costco Wholesale from $1,115.00 to $1,160.00 and gave the company an "overweight" rating in a research note on Thursday, August 7th. Evercore ISI cut their target price on shares of Costco Wholesale from $1,075.00 to $1,060.00 and set an "outperform" rating on the stock in a research note on Tuesday, June 17th. Erste Group Bank downgraded shares of Costco Wholesale from a "buy" rating to a "hold" rating in a research note on Tuesday, August 5th. Stifel Nicolaus set a $1,035.00 target price on shares of Costco Wholesale in a research note on Thursday, May 29th. Finally, Truist Financial upped their price target on shares of Costco Wholesale from $995.00 to $1,042.00 and gave the stock a "hold" rating in a research note on Friday, May 30th. Ten analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $1,050.00.

Get Our Latest Stock Analysis on Costco Wholesale

Costco Wholesale Stock Performance

NASDAQ:COST opened at $978.85 on Thursday. Costco Wholesale Corporation has a 12-month low of $858.50 and a 12-month high of $1,078.23. The company has a quick ratio of 0.52, a current ratio of 1.02 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $434.10 billion, a PE ratio of 55.52, a price-to-earnings-growth ratio of 6.16 and a beta of 0.96. The firm has a 50-day moving average price of $973.82 and a 200 day moving average price of $985.76.

Costco Wholesale (NASDAQ:COST - Get Free Report) last posted its quarterly earnings results on Thursday, May 29th. The retailer reported $4.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.24 by $0.04. The firm had revenue of $63.21 billion during 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 quarterly revenue was up 8.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.78 earnings per share. Research analysts anticipate that Costco Wholesale Corporation will post 18.03 earnings per share for the current fiscal year.

Costco Wholesale Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Friday, August 1st will be issued a $1.30 dividend. The ex-dividend date of this dividend is Friday, August 1st. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.5%. Costco Wholesale's dividend payout ratio (DPR) is currently 29.50%.

Costco Wholesale Company Profile

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding COST? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Costco Wholesale Corporation (NASDAQ:COST - Free Report).

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

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.

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