First Manhattan CO. LLC. Lowers Stake in Costco Wholesale Co. (NASDAQ:COST)

First Manhattan CO. LLC. cut its holdings in shares of Costco Wholesale Co. (NASDAQ:COST - Free Report) by 1.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 18,313 shares of the retailer's stock after selling 307 shares during the quarter. First Manhattan CO. LLC.'s holdings in Costco Wholesale were worth $16,780,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Synergy Investment Management LLC acquired a new position in Costco Wholesale in the 4th quarter valued at about $31,000. NewSquare Capital LLC lifted its holdings in shares of Costco Wholesale by 250.0% in the 4th quarter. NewSquare Capital LLC now owns 35 shares of the retailer's stock worth $32,000 after acquiring an additional 25 shares during the last quarter. Endeavor Private Wealth Inc. acquired a new position in shares of Costco Wholesale in the 4th quarter worth approximately $33,000. Collier Financial acquired a new position in shares of Costco Wholesale in the 4th quarter worth approximately $35,000. Finally, Barrett & Company Inc. lifted its holdings in shares of Costco Wholesale by 59.3% in the 4th quarter. Barrett & Company Inc. now owns 43 shares of the retailer's stock worth $39,000 after acquiring an additional 16 shares during the last quarter. 68.48% of the stock is currently owned by institutional investors and hedge funds.

Costco Wholesale Stock Performance

NASDAQ:COST traded up $8.06 during trading hours on Monday, reaching $1,016.15. 2,067,155 shares of the company's stock were exchanged, compared to its average volume of 2,030,129. The firm has a market capitalization of $450.85 billion, a price-to-earnings ratio of 59.67, a P/E/G ratio of 6.15 and a beta of 1.00. The company has a 50-day moving average of $958.68 and a 200 day moving average of $964.05. The company has a quick ratio of 0.43, a current ratio of 0.98 and a debt-to-equity ratio of 0.23. Costco Wholesale Co. has a 1-year low of $771.43 and a 1-year high of $1,078.24.

Costco Wholesale (NASDAQ:COST - Get Free Report) last issued its quarterly 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). The business had revenue of $63.72 billion for the quarter, compared to analyst estimates of $63.02 billion. Costco Wholesale had a return on equity of 32.31% and a net margin of 2.93%. Research analysts anticipate that Costco Wholesale Co. will post 18.03 EPS for the current year.

Costco Wholesale Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 16th. Stockholders of record on Friday, May 2nd will be paid a $1.30 dividend. This represents a $5.20 annualized dividend and a dividend yield of 0.51%. The ex-dividend date of this dividend is Friday, May 2nd. This is a boost from Costco Wholesale's previous quarterly dividend of $1.16. Costco Wholesale's dividend payout ratio (DPR) is 30.36%.

Insider Transactions at Costco Wholesale

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

Wall Street Analyst Weigh In

Several equities analysts have recently commented on COST shares. Barclays upped their price objective on shares of Costco Wholesale from $940.00 to $980.00 and gave the stock an "equal weight" rating in a report on Monday, March 10th. JPMorgan Chase & Co. increased their target price on shares of Costco Wholesale from $1,065.00 to $1,070.00 and gave the stock an "overweight" rating in a report on Friday, March 7th. Cfra Research upgraded shares of Costco Wholesale from a "hold" rating to a "moderate buy" rating in a report on Friday, April 4th. Evercore ISI increased their target price on shares of Costco Wholesale from $1,050.00 to $1,070.00 and gave the stock an "outperform" rating in a report on Tuesday, March 11th. Finally, Stifel Nicolaus reduced their target price on shares of Costco Wholesale from $1,075.00 to $1,035.00 and set a "buy" rating on the stock in a report on Thursday, March 20th. Ten investment analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $1,024.03.

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.