Worldly Partners Management LLC Has $83.41 Million Stake in Costco Wholesale Co. (NASDAQ:COST)

Worldly Partners Management LLC raised its stake in Costco Wholesale Co. (NASDAQ:COST - Free Report) by 0.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 91,031 shares of the retailer's stock after purchasing an additional 615 shares during the quarter. Costco Wholesale makes up about 43.6% of Worldly Partners Management LLC's portfolio, making the stock its 2nd biggest holding. Worldly Partners Management LLC's holdings in Costco Wholesale were worth $83,409,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in shares of Costco Wholesale by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 42,201,610 shares of the retailer's stock worth $38,668,069,000 after acquiring an additional 455,043 shares during the period. Geode Capital Management LLC boosted its stake in shares of Costco Wholesale by 2.7% during the 4th quarter. Geode Capital Management LLC now owns 9,739,175 shares of the retailer's stock worth $8,901,249,000 after acquiring an additional 252,118 shares during the period. FMR LLC boosted its stake in shares of Costco Wholesale by 1.6% during the 4th quarter. FMR LLC now owns 9,457,824 shares of the retailer's stock worth $8,665,921,000 after acquiring an additional 149,209 shares during the period. Norges Bank bought a new position in shares of Costco Wholesale during the 4th quarter worth approximately $5,182,316,000. Finally, Northern Trust Corp boosted its stake in shares of Costco Wholesale by 12.6% during the 4th quarter. Northern Trust Corp now owns 5,257,809 shares of the retailer's stock worth $4,817,573,000 after acquiring an additional 587,303 shares during the period. 68.48% of the stock is currently owned by institutional investors.

Costco Wholesale Trading Down 0.7%

Shares of NASDAQ COST traded down $7.17 during midday trading on Thursday, reaching $1,018.13. The company had a trading volume of 1,658,711 shares, compared to its average volume of 2,050,796. Costco Wholesale Co. has a one year low of $788.20 and a one year high of $1,078.24. The company has a quick ratio of 0.43, a current ratio of 0.98 and a debt-to-equity ratio of 0.23. The firm's fifty day moving average price is $968.97 and its 200-day moving average price is $970.34. The stock has a market cap of $451.73 billion, a PE ratio of 59.78, a price-to-earnings-growth ratio of 6.15 and a beta of 1.00.

Costco Wholesale (NASDAQ:COST - Get Free Report) last posted its earnings results on Thursday, March 6th. The retailer reported $4.02 earnings per share for the quarter, missing analysts' consensus estimates of $4.09 by ($0.07). Costco Wholesale had a return on equity of 32.31% and a net margin of 2.93%. The firm had revenue of $63.72 billion for the quarter, compared to analysts' expectations of $63.02 billion. On average, equities research analysts anticipate that Costco Wholesale Co. will post 18.03 earnings per share for the current year.

Costco Wholesale Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 16th. Shareholders of record on Friday, May 2nd were issued a dividend of $1.30 per share. This is an increase from Costco Wholesale's previous quarterly dividend of $1.16. The ex-dividend date was Friday, May 2nd. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.51%. Costco Wholesale's dividend payout ratio is 30.36%.

Analyst Ratings Changes

COST has been the subject of several recent research reports. Truist Financial boosted their price target on Costco Wholesale from $935.00 to $995.00 and gave the company a "hold" rating in a research note on Friday, March 7th. JPMorgan Chase & Co. increased their price target on Costco Wholesale from $1,065.00 to $1,070.00 and gave the company an "overweight" rating in a research note on Friday, March 7th. Telsey Advisory Group restated an "outperform" rating on shares of Costco Wholesale in a research report on Wednesday. Cfra Research upgraded Costco Wholesale from a "hold" rating to a "moderate buy" rating in a report on Friday, April 4th. Finally, Sanford C. Bernstein reissued an "outperform" rating on shares of Costco Wholesale in a research report on Friday, March 7th. Ten analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company's stock. According to MarketBeat, Costco Wholesale currently has an average rating of "Moderate Buy" and a consensus target price of $1,024.03.

Insiders Place Their Bets

In other news, CEO Roland Michael Vachris sold 3,600 shares of the stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $931.00, for a total transaction of $3,351,600.00. Following the transaction, the chief executive officer now directly owns 41,077 shares of the company's stock, valued at $38,242,687. This represents a 8.06% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP James C. Klauer sold 4,000 shares of the stock in a transaction on Thursday, April 17th. The shares were sold at an average price of $981.07, for a total value of $3,924,280.00. Following the transaction, the executive vice president now directly owns 43,994 shares in the company, valued at $43,161,193.58. The trade was a 8.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 9,600 shares of company stock worth $9,140,195. Company insiders own 0.18% of the company's stock.

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.