New York State Common Retirement Fund Decreases Stake in Costco Wholesale Corporation (NASDAQ:COST)

New York State Common Retirement Fund decreased its holdings in shares of Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 4.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 567,848 shares of the retailer's stock after selling 29,225 shares during the period. Costco Wholesale comprises approximately 0.8% of New York State Common Retirement Fund's holdings, making the stock its 18th largest position. New York State Common Retirement Fund owned about 0.13% of Costco Wholesale worth $537,059,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Investment Management Corp VA ADV purchased a new position in shares of Costco Wholesale during the 4th quarter valued at $25,000. Clear Investment Research LLC increased its holdings in shares of Costco Wholesale by 22.2% in the 4th quarter. Clear Investment Research LLC now owns 55 shares of the retailer's stock worth $51,000 after buying an additional 10 shares during the last quarter. Aspect Partners LLC increased its holdings in shares of Costco Wholesale by 24.4% in the 1st quarter. Aspect Partners LLC now owns 56 shares of the retailer's stock worth $53,000 after buying an additional 11 shares during the last quarter. Capital A Wealth Management LLC bought a new stake in shares of Costco Wholesale in the 4th quarter worth about $58,000. Finally, Mascagni Wealth Management Inc. bought a new stake in shares of Costco Wholesale in the 4th quarter worth about $59,000. Institutional investors own 68.48% of the company's stock.

Analysts Set New Price Targets

COST has been the topic of a number of research reports. Loop Capital reduced their target price on shares of Costco Wholesale from $1,115.00 to $1,110.00 and set a "buy" rating on the stock in a report on Thursday, May 29th. Morgan Stanley boosted their target price on shares of Costco Wholesale from $1,150.00 to $1,225.00 and gave the stock an "overweight" rating in a report on Friday, May 30th. Stifel Nicolaus set a $1,035.00 target price on shares of Costco Wholesale in a report on Thursday, May 29th. Evercore ISI cut their price target on shares of Costco Wholesale from $1,075.00 to $1,060.00 and set an "outperform" rating on the stock in a report on Tuesday, June 17th. Finally, Wall Street Zen raised shares of Costco Wholesale from a "hold" rating to a "buy" rating in a research note on Friday, June 6th. Nine research analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $1,037.48.

Costco Wholesale Stock Up 0.5%

COST traded up $5.16 on Monday, hitting $975.49. The company had a trading volume of 531,556 shares, compared to its average volume of 2,057,280. The stock has a market capitalization of $432.61 billion, a price-to-earnings ratio of 55.33, a P/E/G ratio of 6.03 and a beta of 0.97. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.52 and a current ratio of 1.02. The stock has a fifty day moving average price of $1,003.77 and a 200-day moving average price of $982.24. Costco Wholesale Corporation has a 12-month low of $793.00 and a 12-month high of $1,078.24.

Costco Wholesale (NASDAQ:COST - Get Free Report) last posted its quarterly earnings data on Thursday, May 29th. The retailer reported $4.28 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%. Costco Wholesale's revenue was up 8.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.78 EPS. Analysts predict that Costco Wholesale Corporation will post 18.03 EPS for the current fiscal year.

Costco Wholesale Increases Dividend

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

Insiders Place Their Bets

In related news, EVP Patrick J. Callans sold 3,000 shares of the company's stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $1,002.77, for a total transaction of $3,008,310.00. Following the transaction, the executive vice president directly owned 58,543 shares of the company's stock, valued at $58,705,164.11. This represents a 4.87% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Susan L. Decker sold 547 shares of the firm's stock in a transaction dated 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 sale, the director directly owned 11,531 shares of the company's stock, valued at approximately $11,300,380. This represents a 4.53% decrease in their position. The disclosure for this sale can be found here. Insiders sold 9,547 shares of company stock worth $9,496,950 over the last quarter. Company insiders own 0.18% of the company's stock.

Costco Wholesale 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.