Twin Capital Management Inc. Sells 861 Shares of Costco Wholesale Corporation (NASDAQ:COST)

Twin Capital Management Inc. trimmed its holdings in Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 9.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 8,193 shares of the retailer's stock after selling 861 shares during the period. Costco Wholesale comprises about 0.9% of Twin Capital Management Inc.'s investment portfolio, making the stock its 18th largest holding. Twin Capital Management Inc.'s holdings in Costco Wholesale were worth $7,749,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Peninsula Wealth LLC lifted its holdings in Costco Wholesale by 1.2% in the fourth quarter. Peninsula Wealth LLC now owns 818 shares of the retailer's stock worth $749,000 after buying an additional 10 shares during the period. Bosun Asset Management LLC raised its position in shares of Costco Wholesale by 1.6% in the 4th quarter. Bosun Asset Management LLC now owns 636 shares of the retailer's stock worth $583,000 after acquiring an additional 10 shares in the last quarter. NFP Retirement Inc. lifted its stake in shares of Costco Wholesale by 1.1% in the 4th quarter. NFP Retirement Inc. now owns 980 shares of the retailer's stock valued at $898,000 after purchasing an additional 11 shares during the period. Coppell Advisory Solutions LLC lifted its stake in shares of Costco Wholesale by 0.3% in the 4th quarter. Coppell Advisory Solutions LLC now owns 3,437 shares of the retailer's stock valued at $3,163,000 after purchasing an additional 11 shares during the period. Finally, Rooted Wealth Advisors Inc. boosted its position in shares of Costco Wholesale by 2.6% during the first quarter. Rooted Wealth Advisors Inc. now owns 441 shares of the retailer's stock valued at $404,000 after purchasing an additional 11 shares in the last quarter. Institutional investors and hedge funds own 68.48% of the company's stock.

Insider Transactions at Costco Wholesale

In other Costco Wholesale news, Director Susan L. Decker sold 547 shares of the stock in a transaction on Wednesday, June 18th. The shares were sold at an average price of $980.00, for a total transaction of $536,060.00. Following the completion of the transaction, the director owned 11,531 shares in the company, valued at $11,300,380. This trade represents a 4.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Yoram Rubanenko sold 4,000 shares of Costco Wholesale stock in a transaction on Monday, July 14th. The stock was sold at an average price of $974.96, for a total transaction of $3,899,840.00. Following the completion of the transaction, the executive vice president directly owned 5,774 shares of the company's stock, valued at $5,629,419.04. The trade was a 40.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 9,547 shares of company stock valued at $9,472,510. 0.18% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Truist Financial boosted their price objective 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. 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 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. Mizuho assumed coverage on Costco Wholesale in a research note on Friday, April 11th. They set a "neutral" rating and a $975.00 price objective for the company. Finally, Loop Capital dropped their target price on 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. Nine analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. Based on data from MarketBeat, Costco Wholesale currently has an average rating of "Moderate Buy" and an average target price of $1,037.48.

Costco Wholesale Price Performance

NASDAQ COST opened at $950.95 on Friday. 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 $793.00 and a 12 month high of $1,078.24. The stock has a market cap of $421.73 billion, a price-to-earnings ratio of 53.94, a PEG ratio of 5.91 and a beta of 0.97. The company's 50 day moving average is $998.91 and its two-hundred day moving average is $983.13.

Costco Wholesale (NASDAQ:COST - Get Free Report) last released its quarterly earnings data on Thursday, May 29th. The retailer reported $4.28 earnings per share for the quarter, topping analysts' consensus estimates of $4.24 by $0.04. Costco Wholesale had a return on equity of 30.48% and a net margin of 2.92%. The firm had revenue of $63.21 billion during the quarter, compared to analyst estimates of $62.93 billion. During the same quarter in the prior year, the company posted $3.78 earnings per share. The business's quarterly revenue was up 8.0% compared to the same quarter last year. As a group, research analysts anticipate that Costco Wholesale Corporation will post 18.03 earnings per share for the current year.

Costco Wholesale Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Friday, August 1st will be given a dividend of $1.30 per share. 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 0.55%. Costco Wholesale's payout ratio is 29.50%.

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.

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