Progressive Investment Management Corp Cuts Position in Costco Wholesale Co. (NASDAQ:COST)

Progressive Investment Management Corp cut its position in shares of Costco Wholesale Co. (NASDAQ:COST - Free Report) by 1.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,259 shares of the retailer's stock after selling 336 shares during the period. Costco Wholesale accounts for about 4.3% of Progressive Investment Management Corp's investment portfolio, making the stock its 6th largest position. Progressive Investment Management Corp's holdings in Costco Wholesale were worth $16,730,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in COST. United Bank lifted its holdings in Costco Wholesale by 7.5% in the 3rd quarter. United Bank now owns 5,962 shares of the retailer's stock worth $5,285,000 after purchasing an additional 416 shares during the last quarter. Quantbot Technologies LP boosted its holdings in shares of Costco Wholesale by 182.1% during the 3rd quarter. Quantbot Technologies LP now owns 409 shares of the retailer's stock worth $363,000 after buying an additional 264 shares during the period. Peterson Wealth Management grew its stake in Costco Wholesale by 0.5% in the 3rd quarter. Peterson Wealth Management now owns 7,297 shares of the retailer's stock valued at $6,469,000 after buying an additional 37 shares during the last quarter. Hantz Financial Services Inc. grew its stake in Costco Wholesale by 1.0% in the 3rd quarter. Hantz Financial Services Inc. now owns 5,377 shares of the retailer's stock valued at $4,767,000 after buying an additional 53 shares during the last quarter. Finally, Isthmus Partners LLC acquired a new position in Costco Wholesale during the 3rd quarter worth $328,000. 68.48% of the stock is currently owned by institutional investors and hedge funds.

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Costco Wholesale Price Performance

NASDAQ:COST traded up $15.87 on Monday, reaching $945.53. The stock had a trading volume of 1,545,607 shares, compared to its average volume of 1,939,874. The company has a market capitalization of $419.51 billion, a P/E ratio of 55.52, a price-to-earnings-growth ratio of 6.15 and a beta of 0.82. The stock has a fifty day moving average price of $988.07 and a 200-day moving average price of $946.86. 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 $697.27 and a 1-year high of $1,078.24.

Costco Wholesale (NASDAQ:COST - Get Free Report) last announced its earnings results on Thursday, March 6th. The retailer reported $4.02 EPS for the quarter, missing the consensus estimate of $4.09 by ($0.07). Costco Wholesale had a return on equity of 32.31% and a net margin of 2.93%. The business had revenue of $63.72 billion during the quarter, compared to analyst estimates of $63.02 billion. Research analysts forecast that Costco Wholesale Co. will post 18.03 EPS for the current year.

Costco Wholesale Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 21st. Stockholders of record on Friday, February 7th were issued a dividend of $1.16 per share. This represents a $4.64 annualized dividend and a dividend yield of 0.49%. The ex-dividend date of this dividend was Friday, February 7th. Costco Wholesale's payout ratio is presently 27.09%.

Insider Activity

In other Costco Wholesale news, CEO Roland Michael Vachris sold 3,600 shares of the firm's stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $931.00, for a total value of $3,351,600.00. Following the completion of the sale, the chief executive officer now owns 41,077 shares in the company, valued at approximately $38,242,687. This trade represents a 8.06 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Gary Millerchip sold 1,100 shares of the business's stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $940.01, for a total transaction of $1,034,011.00. Following the completion of the transaction, the executive vice president now directly owns 11,165 shares of the company's stock, valued at approximately $10,495,211.65. This represents a 8.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,600 shares of company stock worth $5,215,915. 0.18% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research firms recently weighed in on COST. Telsey Advisory Group reissued an "outperform" rating and set a $1,100.00 price objective on shares of Costco Wholesale in a research report on Monday, March 3rd. Raymond James upped their price target on Costco Wholesale from $990.00 to $1,030.00 and gave the stock an "overweight" rating in a report on Thursday, December 12th. Oppenheimer restated an "outperform" rating and issued a $1,075.00 price objective (up previously from $980.00) on shares of Costco Wholesale in a research note on Tuesday, December 10th. Truist Financial upped their target price on shares of Costco Wholesale from $935.00 to $995.00 and gave the company a "hold" rating in a research note on Friday, March 7th. Finally, Morgan Stanley raised their price target on shares of Costco Wholesale from $950.00 to $1,150.00 and gave the stock an "overweight" rating in a research report on Friday, December 13th. Nine analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $1,029.00.

Costco Wholesale Company 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.