Costco Wholesale Co. (NASDAQ:COST) Shares Sold by Mount Lucas Management LP

Mount Lucas Management LP reduced its stake in Costco Wholesale Co. (NASDAQ:COST) by 5.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,831 shares of the retailer’s stock after selling 200 shares during the quarter. Costco Wholesale accounts for 1.2% of Mount Lucas Management LP’s investment portfolio, making the stock its 12th biggest holding. Mount Lucas Management LP’s holdings in Costco Wholesale were worth $3,510,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of COST. Swedbank AB raised its position in Costco Wholesale by 1.5% during the 3rd quarter. Swedbank AB now owns 443,747 shares of the retailer’s stock worth $393,391,000 after buying an additional 6,495 shares during the last quarter. Holistic Planning LLC acquired a new position in shares of Costco Wholesale during the third quarter worth about $203,000. United Bank raised its holdings in Costco Wholesale by 7.5% during the third quarter. United Bank now owns 5,962 shares of the retailer’s stock worth $5,285,000 after purchasing an additional 416 shares in the last quarter. Rovin Capital UT ADV acquired a new stake in Costco Wholesale in the third quarter valued at about $269,000. Finally, Assetmark Inc. boosted its holdings in Costco Wholesale by 13.7% in the 3rd quarter. Assetmark Inc. now owns 39,631 shares of the retailer’s stock valued at $35,134,000 after purchasing an additional 4,785 shares in the last quarter. Institutional investors and hedge funds own 68.48% of the company’s stock.

Wall Street Analyst Weigh In

COST has been the subject of several recent analyst reports. Jefferies Financial Group raised their price target on Costco Wholesale from $1,050.00 to $1,145.00 and gave the company a “buy” rating in a report on Thursday, December 5th. BMO Capital Markets boosted their target price on shares of Costco Wholesale from $1,075.00 to $1,175.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Robert W. Baird upped their price target on shares of Costco Wholesale from $1,075.00 to $1,125.00 and gave the stock an “outperform” rating in a research note on Friday. Loop Capital reduced their price objective on shares of Costco Wholesale from $1,150.00 to $1,135.00 and set a “buy” rating for the company in a research note on Friday. Finally, Barclays upped their target price on shares of Costco Wholesale from $850.00 to $940.00 and gave the stock an “equal weight” rating in a research report on Friday, December 13th. Ten analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. According to data from MarketBeat, Costco Wholesale has an average rating of “Moderate Buy” and a consensus target price of $1,029.00.

Costco Wholesale Price Performance

COST stock opened at $964.31 on Monday. The firm has a market cap of $428.06 billion, a P/E ratio of 56.62, a price-to-earnings-growth ratio of 6.15 and a beta of 0.82. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.43 and a current ratio of 0.98. Costco Wholesale Co. has a 1 year low of $697.27 and a 1 year high of $1,078.24. The stock has a 50-day simple moving average of $989.69 and a 200-day simple moving average of $943.88.

Costco Wholesale (NASDAQ:COST) last posted its quarterly earnings data 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 net margin of 2.93% and a return on equity of 32.31%. The firm had revenue of $63.72 billion during the quarter, compared to analysts’ expectations of $63.02 billion. On average, equities analysts predict that Costco Wholesale Co. will post 18.03 earnings per share for the current fiscal year.

Costco Wholesale Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 21st. Shareholders of record on Friday, February 7th were issued a dividend of $1.16 per share. The ex-dividend date was Friday, February 7th. This represents a $4.64 annualized dividend and a yield of 0.48%. Costco Wholesale’s dividend payout ratio is presently 27.09%.

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.