Patten & Patten Inc. TN Sells 1,569 Shares of Costco Wholesale Corporation $COST

Key Points

• Patten & Patten Inc. TN trimmed its Costco position by 6.7% in the fourth quarter, selling 1,569 shares and leaving it with 22,010 shares valued at about $18.98 million.
• Costco continues to draw bullish analyst sentiment, with recent reports citing strong April sales, Buy ratings from major firms, and multiple higher price targets.
• The company also boosted its quarterly dividend to $1.47 per share from $1.30, while reporting solid recent earnings and revenue growth that topped expectations.

Patten & Patten Inc. TN lowered its position in Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 6.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 22,010 shares of the retailer's stock after selling 1,569 shares during the quarter. Costco Wholesale accounts for about 1.1% of Patten & Patten Inc. TN's holdings, making the stock its 17th largest position. Patten & Patten Inc. TN's holdings in Costco Wholesale were worth $18,980,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Hurley Capital LLC lifted its position in shares of Costco Wholesale by 120.0% in the 3rd quarter. Hurley Capital LLC now owns 33 shares of the retailer's stock worth $31,000 after acquiring an additional 18 shares during the period. Joseph Group Capital Management bought a new stake in shares of Costco Wholesale in the 4th quarter worth approximately $33,000. Abich Financial Wealth Management LLC bought a new stake in shares of Costco Wholesale in the 3rd quarter worth approximately $34,000. Collier Financial bought a new stake in shares of Costco Wholesale in the 3rd quarter worth approximately $35,000. Finally, AXS Investments LLC bought a new stake in shares of Costco Wholesale in the 3rd quarter worth approximately $36,000. Institutional investors own 68.48% of the company's stock.

More Costco Wholesale News

Here are the key news stories impacting Costco Wholesale this week:

• Positive Sentiment: April net sales rose 13% and comparable sales remained strong, signaling resilient demand and solid momentum for Costco’s core business. Costco Wholesale Corporation Reports April Sales Results
• Positive Sentiment: Bank of America reiterated a Buy rating after the sales update, pointing to Costco’s steady comparable sales trend despite macro uncertainty. Costco April sales top expectations despite Easter shift, macroeconomic uncertainty
• Positive Sentiment: Deutsche Bank raised its price target and kept a Buy rating, adding to bullish sentiment around the stock. Deutsche Bank adjusts Costco Wholesale PT
• Positive Sentiment: Market chatter around a possible special dividend later this year may be attracting income-focused investors to COST. Is Costco Preparing Another Special Dividend This Year?
• Neutral Sentiment: Costco is also in the news for store expansion plans in California and Florida, which is constructive long term but not an immediate stock catalyst. Costco plots major California expansion as it announces new store openings
• Neutral Sentiment: Several lifestyle and product roundups highlight Costco’s strong brand and value perception, but these are unlikely to move the stock much on their own.
• Negative Sentiment: A lawsuit over Costco’s tariff-refund pricing strategy could create legal and margin uncertainty, though the longer-term financial impact is still unclear. Costco’s Going to Court Because It Wants to Give You Tariff Refunds

Costco Wholesale Price Performance

NASDAQ:COST opened at $1,008.79 on Friday. The stock's 50-day simple moving average is $998.03 and its 200 day simple moving average is $951.50. The company has a market cap of $447.55 billion, a P/E ratio of 52.46, a P/E/G ratio of 4.99 and a beta of 0.92. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.59 and a current ratio of 1.06. Costco Wholesale Corporation has a 52-week low of $844.06 and a 52-week high of $1,067.08.

Costco Wholesale (NASDAQ:COST - Get Free Report) last announced its quarterly earnings results on Wednesday, March 11th. The retailer reported $4.58 earnings per share for the quarter, topping analysts' consensus estimates of $4.55 by $0.03. The firm had revenue of $69.60 billion for the quarter, compared to the consensus estimate of $68.96 billion. Costco Wholesale had a return on equity of 28.57% and a net margin of 2.99%.The business's revenue was up 9.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $4.02 earnings per share. As a group, sell-side analysts forecast that Costco Wholesale Corporation will post 20.32 EPS for the current fiscal year.

Costco Wholesale Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 15th. Stockholders of record on Friday, May 1st will be given a $1.47 dividend. The ex-dividend date of this dividend is Friday, May 1st. This is a positive change from Costco Wholesale's previous quarterly dividend of $1.30. This represents a $5.88 annualized dividend and a dividend yield of 0.6%. Costco Wholesale's dividend payout ratio (DPR) is currently 30.58%.

Insider Activity at Costco Wholesale

In other news, EVP Claudine Adamo sold 730 shares of the company's stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $1,003.02, for a total value of $732,204.60. Following the transaction, the executive vice president owned 6,121 shares of the company's stock, valued at approximately $6,139,485.42. This represents a 10.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.10% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on COST shares. Evercore set a $1,100.00 target price on Costco Wholesale in a report on Monday, March 2nd. Telsey Advisory Group increased their price objective on Costco Wholesale from $1,125.00 to $1,135.00 and gave the company an "outperform" rating in a research report on Thursday, April 9th. Wells Fargo & Company increased their price objective on Costco Wholesale from $950.00 to $1,000.00 and gave the company an "equal weight" rating in a research report on Thursday, April 9th. Jefferies Financial Group reaffirmed a "buy" rating and set a $1,050.00 price objective on shares of Costco Wholesale in a research note on Thursday, March 5th. Finally, Raymond James Financial increased their price target on Costco Wholesale from $1,000.00 to $1,100.00 and gave the stock an "outperform" rating in a report on Friday, March 6th. Twenty-two equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Costco Wholesale presently has a consensus rating of "Moderate Buy" and a consensus target price of $1,046.03.

About Costco Wholesale

Costco Wholesale Corporation operates a global chain of membership-only warehouse clubs that sell a wide array of merchandise in bulk at discounted prices. The company's product mix includes groceries, fresh and frozen food, household goods, electronics, apparel, and seasonal items, augmented by its prominent private-label brand, Kirkland Signature. Costco's business model centers on annual membership fees and high-volume, low-margin sales, designed to drive repeat purchasing and strong customer loyalty among both consumers and small-business buyers.

Beyond merchandise, Costco provides a range of ancillary services that complement its warehouses, including gasoline stations, pharmacy and optical services, hearing aid centers, photo services, and travel and insurance products.

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