Costco Wholesale Corporation $COST is Maple Capital Management Inc.'s 6th Largest Position

Key Points

• Maple Capital Management Inc. increased its stake in Costco Wholesale Corporation by 0.5%, holding 62,171 shares worth approximately $58.80 million, which constitutes 4.5% of its total holdings.
• Insider selling activity was noted, with EVP Teresa A. Jones and EVP Yoram Rubanenko selling a total of 4,600 shares, impacting their respective positions significantly.
• Analysts have issued mixed ratings for Costco, with price targets ranging from $1,042.00 to $1,160.00, indicating a general sentiment of "buy" among major research firms.

Maple Capital Management Inc. lifted its holdings in shares of Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 0.5% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 62,171 shares of the retailer's stock after acquiring an additional 284 shares during the quarter. Costco Wholesale makes up about 4.5% of Maple Capital Management Inc.'s portfolio, making the stock its 6th biggest holding. Maple Capital Management Inc.'s holdings in Costco Wholesale were worth $58,800,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Personal CFO Solutions LLC raised its holdings in Costco Wholesale by 12.4% in the 1st quarter. Personal CFO Solutions LLC now owns 1,519 shares of the retailer's stock valued at $1,436,000 after acquiring an additional 167 shares in the last quarter. F&V Capital Management LLC bought a new stake in shares of Costco Wholesale during the first quarter worth about $236,000. Graybill Wealth Management LTD. bought a new stake in shares of Costco Wholesale during the first quarter worth about $3,095,000. Rossmore Private Capital grew its holdings in shares of Costco Wholesale by 0.9% during the first quarter. Rossmore Private Capital now owns 6,687 shares of the retailer's stock worth $6,325,000 after purchasing an additional 62 shares during the last quarter. Finally, Curat Global LLC bought a new stake in shares of Costco Wholesale in the 1st quarter valued at about $241,000. 68.48% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have commented on COST. Truist Financial upped their price target on Costco Wholesale from $995.00 to $1,042.00 and gave the company a "hold" rating in a research report on Friday, May 30th. Telsey Advisory Group reiterated an "outperform" rating and issued a $1,100.00 price target on shares of Costco Wholesale in a research report on Wednesday, August 27th. Evercore ISI reduced 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. JPMorgan Chase & Co. upped their price target on Costco Wholesale from $1,115.00 to $1,160.00 and gave the company an "overweight" rating in a research report on Thursday, August 7th. Finally, Wall Street Zen upgraded Costco Wholesale from a "hold" rating to a "buy" rating in a research report on Friday, June 6th. Seventeen equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $1,056.67.

Insiders Place Their Bets

In other Costco Wholesale news, EVP Teresa A. Jones sold 600 shares of the stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $992.05, for a total value of $595,230.00. Following the transaction, the executive vice president owned 2,362 shares in the company, valued at approximately $2,343,222.10. This represents a 20.26% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Susan L. Decker sold 547 shares of the stock in a transaction that occurred on Wednesday, June 18th. The stock was sold at an average price of $980.00, for a total value of $536,060.00. Following the completion of the transaction, the director owned 11,531 shares in the company, 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. Over the last quarter, insiders have sold 5,147 shares of company stock worth $5,031,130. Corporate insiders own 0.18% of the company's stock.

Costco Wholesale Trading Up 0.4%

Shares of Costco Wholesale stock traded up $3.58 on Friday, hitting $967.90. 1,460,154 shares of the company's stock traded hands, compared to its average volume of 1,950,274. Costco Wholesale Corporation has a one year low of $867.16 and a one year high of $1,078.23. 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 company has a fifty day moving average of $960.40 and a two-hundred day moving average of $974.64. The company has a market capitalization of $429.24 billion, a price-to-earnings ratio of 54.90, a price-to-earnings-growth ratio of 5.43 and a beta of 0.97.

Costco Wholesale Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 15th. Investors 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 annualized dividend and a dividend yield of 0.5%. Costco Wholesale's dividend payout ratio is presently 29.50%.

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.