Costco Wholesale Corporation $COST is Northstar Asset Management Inc.'s 3rd Largest Position

Key Points

• Northstar Asset Management Inc. reduced its stake in Costco Wholesale by 11.1% in the first quarter, now holding 17,429 shares valued at approximately $16.5 million.
• Notable analyst upgrades include JPMorgan raising their target price from $1,115 to $1,160, while Morgan Stanley increased theirs from $1,150 to $1,225, with most analysts rating the stock as a "Moderate Buy."
• Costco announced a quarterly dividend of $1.30 per share, reflecting an annualized dividend yield of 0.5% and a payout ratio of 29.5%.

Northstar Asset Management Inc. reduced its holdings in shares of Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 11.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 17,429 shares of the retailer's stock after selling 2,175 shares during the period. Costco Wholesale comprises 4.9% of Northstar Asset Management Inc.'s investment portfolio, making the stock its 3rd largest holding. Northstar Asset Management Inc.'s holdings in Costco Wholesale were worth $16,484,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the business. LeConte Wealth Management LLC purchased a new stake in Costco Wholesale during the 1st quarter worth approximately $243,000. Eaton Financial Holdings Company LLC grew its holdings in Costco Wholesale by 2,259.4% during the 1st quarter. Eaton Financial Holdings Company LLC now owns 5,757 shares of the retailer's stock worth $5,445,000 after acquiring an additional 5,513 shares in the last quarter. DDFG Inc grew its holdings in Costco Wholesale by 3.4% during the 1st quarter. DDFG Inc now owns 363 shares of the retailer's stock worth $343,000 after acquiring an additional 12 shares in the last quarter. Somerset Group LLC grew its holdings in Costco Wholesale by 4.5% during the 1st quarter. Somerset Group LLC now owns 4,144 shares of the retailer's stock worth $3,919,000 after acquiring an additional 178 shares in the last quarter. Finally, Oder Investment Management LLC grew its holdings in Costco Wholesale by 2.9% during the 1st quarter. Oder Investment Management LLC now owns 710 shares of the retailer's stock worth $671,000 after acquiring an additional 20 shares in the last quarter. 68.48% of the stock is owned by hedge funds and other institutional investors.

Costco Wholesale Price Performance

Shares of COST traded up $1.50 during trading hours on Tuesday, reaching $980.85. The company had a trading volume of 1,671,632 shares, compared to its average volume of 2,140,134. The company has a current ratio of 1.02, a quick ratio of 0.52 and a debt-to-equity ratio of 0.21. Costco Wholesale Corporation has a 12-month low of $867.16 and a 12-month high of $1,078.23. The firm has a 50 day simple moving average of $971.72 and a 200-day simple moving average of $986.12. The company has a market capitalization of $434.99 billion, a price-to-earnings ratio of 55.64, a PEG ratio of 6.09 and a beta of 0.96.

Costco Wholesale (NASDAQ:COST - Get Free Report) last announced its quarterly earnings data on Thursday, May 29th. The retailer reported $4.28 EPS for the quarter, beating the consensus estimate of $4.24 by $0.04. Costco Wholesale had a net margin of 2.92% and a return on equity of 30.48%. The firm 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 earned $3.78 earnings per share. The business's revenue for the quarter was up 8.0% compared to the same quarter last year. Research analysts expect 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 was paid on Friday, August 15th. Shareholders of record on Friday, August 1st were given a dividend of $1.30 per share. The ex-dividend date was Friday, August 1st. This represents a $5.20 dividend on an annualized basis and a yield of 0.5%. Costco Wholesale's payout ratio is presently 29.50%.

Analyst Upgrades and Downgrades

Several research analysts have commented on COST shares. JPMorgan Chase & Co. boosted their price target on shares of Costco Wholesale from $1,115.00 to $1,160.00 and gave the stock an "overweight" rating in a report on Thursday, August 7th. Truist Financial boosted their price target on shares of Costco Wholesale from $995.00 to $1,042.00 and gave the stock a "hold" rating in a report on Friday, May 30th. Telsey Advisory Group reiterated an "outperform" rating and set a $1,100.00 price target on shares of Costco Wholesale in a report on Monday, August 4th. Loop Capital lowered 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 report on Thursday, May 29th. Finally, Morgan Stanley upped their target price on shares of Costco Wholesale from $1,150.00 to $1,225.00 and gave the company an "overweight" rating in a report on Friday, May 30th. Seventeen investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $1,050.00.

Insider Buying and Selling at Costco Wholesale

In other Costco Wholesale 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 owned 58,543 shares in the company, valued at approximately $58,705,164.11. The trade was a 4.87% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Susan L. Decker sold 547 shares of Costco Wholesale stock in a transaction dated Wednesday, June 18th. The stock was sold at an average price of $980.00, for a total transaction of $536,060.00. Following the transaction, the director owned 11,531 shares of the company's stock, valued at approximately $11,300,380. The trade was a 4.53% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 9,547 shares of company stock worth $9,472,510. 0.18% of the stock is currently owned by insiders.

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.