Palisade Capital Management LLC NJ Sells 981 Shares of Costco Wholesale Co. (NASDAQ:COST)

Palisade Capital Management LLC NJ lessened its holdings in Costco Wholesale Co. (NASDAQ:COSTGet Rating) by 4.8% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 19,259 shares of the retailer’s stock after selling 981 shares during the quarter. Palisade Capital Management LLC NJ’s holdings in Costco Wholesale were worth $11,090,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. BlackRock Inc. boosted its position in shares of Costco Wholesale by 3.1% in the fourth quarter. BlackRock Inc. now owns 31,078,322 shares of the retailer’s stock valued at $17,643,166,000 after acquiring an additional 944,199 shares during the period. State Street Corp boosted its position in shares of Costco Wholesale by 10.2% in the fourth quarter. State Street Corp now owns 18,301,225 shares of the retailer’s stock valued at $10,389,605,000 after acquiring an additional 1,697,920 shares during the period. Geode Capital Management LLC boosted its position in shares of Costco Wholesale by 3.5% in the fourth quarter. Geode Capital Management LLC now owns 7,372,449 shares of the retailer’s stock valued at $4,173,133,000 after acquiring an additional 246,857 shares during the period. Alliancebernstein L.P. boosted its position in shares of Costco Wholesale by 2.7% in the fourth quarter. Alliancebernstein L.P. now owns 5,106,207 shares of the retailer’s stock valued at $2,898,794,000 after acquiring an additional 133,943 shares during the period. Finally, Fisher Asset Management LLC raised its stake in Costco Wholesale by 3.7% in the first quarter. Fisher Asset Management LLC now owns 4,221,255 shares of the retailer’s stock valued at $2,430,810,000 after purchasing an additional 150,655 shares in the last quarter. Institutional investors own 67.52% of the company’s stock.

Costco Wholesale Stock Performance

Shares of COST stock opened at $540.67 on Friday. The business’s 50 day simple moving average is $492.92 and its 200 day simple moving average is $515.12. Costco Wholesale Co. has a one year low of $406.51 and a one year high of $612.27. The stock has a market capitalization of $239.50 billion, a PE ratio of 42.57, a PEG ratio of 4.53 and a beta of 0.69. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.04 and a quick ratio of 0.48.

Costco Wholesale (NASDAQ:COSTGet Rating) last announced its earnings results on Thursday, May 26th. The retailer reported $3.17 EPS for the quarter, beating the consensus estimate of $3.00 by $0.17. The business had revenue of $52.60 billion for the quarter, compared to analysts’ expectations of $51.49 billion. Costco Wholesale had a return on equity of 29.71% and a net margin of 2.60%. The firm’s revenue was up 18.5% on a year-over-year basis. During the same period in the prior year, the business posted $2.75 earnings per share. As a group, research analysts forecast that Costco Wholesale Co. will post 13.05 earnings per share for the current year.

Costco Wholesale Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 12th. Shareholders of record on Friday, July 29th will be issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.07%. The ex-dividend date is Thursday, July 28th. Costco Wholesale’s payout ratio is 28.35%.

Insiders Place Their Bets

In other Costco Wholesale news, VP James P. Murphy sold 1,500 shares of the stock in a transaction that occurred on Wednesday, July 20th. The stock was sold at an average price of $525.20, for a total transaction of $787,800.00. Following the transaction, the vice president now directly owns 36,230 shares in the company, valued at approximately $19,027,996. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Costco Wholesale news, VP James P. Murphy sold 1,500 shares of the stock in a transaction that occurred on Wednesday, July 20th. The stock was sold at an average price of $525.20, for a total transaction of $787,800.00. Following the transaction, the vice president now directly owns 36,230 shares in the company, valued at approximately $19,027,996. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Richard A. Galanti sold 1,000 shares of the stock in a transaction that occurred on Thursday, July 14th. The stock was sold at an average price of $505.60, for a total value of $505,600.00. Following the transaction, the chief financial officer now owns 25,750 shares in the company, valued at $13,019,200. The disclosure for this sale can be found here. In the last three months, insiders have sold 5,300 shares of company stock worth $2,609,904. Corporate insiders own 0.22% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on COST. Stifel Nicolaus boosted their price target on Costco Wholesale from $555.00 to $565.00 in a research note on Thursday, May 5th. Tigress Financial boosted their target price on Costco Wholesale from $520.00 to $678.00 in a research note on Thursday, April 14th. Raymond James boosted their target price on Costco Wholesale from $560.00 to $600.00 and gave the stock an “outperform” rating in a research note on Friday. StockNews.com raised Costco Wholesale from a “hold” rating to a “buy” rating in a research note on Friday, July 15th. Finally, Credit Suisse Group lowered their target price on Costco Wholesale from $570.00 to $550.00 and set a “neutral” rating for the company in a research note on Friday, May 27th. Four research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $576.68.

Costco Wholesale Company Profile

(Get Rating)

Costco Wholesale Corporation, together with its subsidiaries, engages in the operation of membership warehouses in the United States, Puerto Rico, Canada, the United Kingdom, Mexico, Japan, Korea, Australia, Spain, France, Iceland, China, and Taiwan. It offers branded and private-label products in a range of merchandise categories.

See Also

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

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