Brighton Jones LLC Reduces Stake in Costco Wholesale Co. (COST)

Brighton Jones LLC lessened its holdings in shares of Costco Wholesale Co. (NASDAQ:COST) by 1.6% during the first quarter, HoldingsChannel reports. The institutional investor owned 10,080 shares of the retailer’s stock after selling 160 shares during the period. Brighton Jones LLC’s holdings in Costco Wholesale were worth $2,441,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Country Club Trust Company n.a. raised its position in shares of Costco Wholesale by 8.0% in the 4th quarter. Country Club Trust Company n.a. now owns 6,556 shares of the retailer’s stock worth $1,336,000 after purchasing an additional 484 shares during the last quarter. Regent Investment Management LLC raised its position in shares of Costco Wholesale by 43.5% in the 1st quarter. Regent Investment Management LLC now owns 1,485 shares of the retailer’s stock worth $360,000 after purchasing an additional 450 shares during the last quarter. Bernicke Wealth Management Ltd. raised its position in shares of Costco Wholesale by 3.3% in the 4th quarter. Bernicke Wealth Management Ltd. now owns 4,017 shares of the retailer’s stock worth $818,000 after purchasing an additional 127 shares during the last quarter. Ruggie Capital Group purchased a new position in shares of Costco Wholesale in the 4th quarter worth about $61,000. Finally, Ipswich Investment Management Co. Inc. raised its position in shares of Costco Wholesale by 80.1% in the 4th quarter. Ipswich Investment Management Co. Inc. now owns 15,378 shares of the retailer’s stock worth $3,133,000 after purchasing an additional 6,839 shares during the last quarter. Hedge funds and other institutional investors own 72.22% of the company’s stock.

In other news, VP Richard A. Galanti sold 4,188 shares of the company’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $230.47, for a total transaction of $965,208.36. Following the completion of the sale, the vice president now owns 30,082 shares of the company’s stock, valued at approximately $6,932,998.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Susan L. Decker sold 2,350 shares of the company’s stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $240.00, for a total transaction of $564,000.00. Following the sale, the director now directly owns 46,239 shares of the company’s stock, valued at approximately $11,097,360. The disclosure for this sale can be found here. In the last three months, insiders sold 8,587 shares of company stock valued at $2,004,576. 0.21% of the stock is owned by insiders.



Several research firms have recently issued reports on COST. Zacks Investment Research raised Costco Wholesale from a “hold” rating to a “buy” rating and set a $243.00 price target for the company in a research report on Monday, March 11th. Loop Capital lifted their price target on Costco Wholesale from $260.00 to $265.00 and gave the stock a “buy” rating in a research report on Monday, April 1st. Oppenheimer lifted their price target on Costco Wholesale from $245.00 to $270.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 17th. Wells Fargo & Co lifted their price target on Costco Wholesale from $225.00 to $240.00 and gave the stock a “market perform” rating in a research report on Thursday, May 9th. They noted that the move was a valuation call. Finally, Telsey Advisory Group reaffirmed an “outperform” rating and issued a $265.00 price target (up previously from $250.00) on shares of Costco Wholesale in a research report on Tuesday, April 9th. Eight investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $249.90.

Shares of NASDAQ:COST opened at $242.73 on Wednesday. Costco Wholesale Co. has a fifty-two week low of $189.51 and a fifty-two week high of $248.70. The company has a quick ratio of 0.46, a current ratio of 0.96 and a debt-to-equity ratio of 0.34. The stock has a market capitalization of $106.42 billion, a price-to-earnings ratio of 31.50, a price-to-earnings-growth ratio of 3.41 and a beta of 0.94.

Costco Wholesale (NASDAQ:COST) last issued its earnings results on Thursday, March 7th. The retailer reported $2.01 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.67 by $0.34. Costco Wholesale had a return on equity of 25.53% and a net margin of 2.34%. The business had revenue of $35.40 billion during the quarter. During the same period last year, the firm posted $1.59 EPS. Sell-side analysts forecast that Costco Wholesale Co. will post 7.92 earnings per share for the current year.

Costco Wholesale announced that its board has approved a stock buyback plan on Friday, April 26th that allows the company to buyback $4.00 billion in shares. This buyback authorization allows the retailer to buy up to 3.8% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its shares are undervalued.

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Friday, May 10th will be given a $0.65 dividend. This is a positive change from Costco Wholesale’s previous quarterly dividend of $0.57. The ex-dividend date is Thursday, May 9th. This represents a $2.60 dividend on an annualized basis and a yield of 1.07%. Costco Wholesale’s payout ratio is 38.07%.

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About Costco Wholesale

Costco Wholesale Corporation, together with its subsidiaries, operates membership warehouses. It offers branded and private-label products in a range of merchandise categories. The company provides dry and packaged foods, and groceries; snack foods, candies, alcoholic and nonalcoholic beverages, and cleaning supplies; appliances, electronics, health and beauty aids, hardware, and garden and patio products; meat, bakery, deli, and produces; and apparel and small appliances.

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Institutional Ownership by Quarter for Costco Wholesale (NASDAQ:COST)

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