Evercore Wealth Management LLC Cuts Position in Costco Wholesale Co. (NASDAQ:COST)

Evercore Wealth Management LLC lessened its position in Costco Wholesale Co. (NASDAQ:COST - Free Report) by 1.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 114,472 shares of the retailer's stock after selling 1,327 shares during the quarter. Costco Wholesale accounts for approximately 1.6% of Evercore Wealth Management LLC's portfolio, making the stock its 23rd largest holding. Evercore Wealth Management LLC's holdings in Costco Wholesale were worth $104,887,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Cromwell Holdings LLC lifted its position in Costco Wholesale by 0.9% in the 4th quarter. Cromwell Holdings LLC now owns 1,144 shares of the retailer's stock worth $1,048,000 after buying an additional 10 shares during the last quarter. 44 Wealth Management LLC lifted its holdings in shares of Costco Wholesale by 0.3% in the 4th quarter. 44 Wealth Management LLC now owns 3,488 shares of the retailer's stock worth $3,196,000 after acquiring an additional 10 shares during the last quarter. SRN Advisors LLC boosted its stake in shares of Costco Wholesale by 0.3% in the 4th quarter. SRN Advisors LLC now owns 3,081 shares of the retailer's stock valued at $2,823,000 after purchasing an additional 10 shares in the last quarter. Miramar Capital LLC grew its holdings in shares of Costco Wholesale by 1.9% during the 4th quarter. Miramar Capital LLC now owns 525 shares of the retailer's stock valued at $481,000 after purchasing an additional 10 shares during the last quarter. Finally, Clear Investment Research LLC raised its position in Costco Wholesale by 22.2% in the 4th quarter. Clear Investment Research LLC now owns 55 shares of the retailer's stock worth $51,000 after purchasing an additional 10 shares during the period. Institutional investors own 68.48% of the company's stock.

Costco Wholesale Stock Performance

Costco Wholesale stock opened at $979.23 on Wednesday. Costco Wholesale Co. has a twelve month low of $714.41 and a twelve month high of $1,078.24. The company has a quick ratio of 0.43, a current ratio of 0.98 and a debt-to-equity ratio of 0.23. The company has a market capitalization of $434.47 billion, a P/E ratio of 57.50, a PEG ratio of 6.15 and a beta of 0.95. The stock's 50 day moving average is $971.89 and its 200 day moving average is $954.07.

Costco Wholesale (NASDAQ:COST - Get Free Report) last released its earnings results on Thursday, March 6th. The retailer reported $4.02 EPS for the quarter, missing analysts' consensus estimates of $4.09 by ($0.07). The company had revenue of $63.72 billion during the quarter, compared to analysts' expectations of $63.02 billion. Costco Wholesale had a return on equity of 32.31% and a net margin of 2.93%. On average, equities research analysts predict that Costco Wholesale Co. will post 18.03 earnings per share for the current fiscal 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 0.53%. The ex-dividend date of this dividend is Friday, May 2nd. This is an increase from Costco Wholesale's previous quarterly dividend of $1.16. Costco Wholesale's dividend payout ratio is currently 30.36%.

Insider Activity

In other news, CEO Roland Michael Vachris sold 3,600 shares of the company's stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $931.00, for a total transaction of $3,351,600.00. Following the transaction, the chief executive officer now directly owns 41,077 shares of the company's stock, valued at $38,242,687. This represents a 8.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP James C. Klauer sold 4,000 shares of Costco Wholesale stock in a transaction dated Thursday, April 17th. The stock was sold at an average price of $981.07, for a total value of $3,924,280.00. Following the completion of the sale, the executive vice president now owns 43,994 shares of the company's stock, valued at $43,161,193.58. The trade was a 8.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 9,600 shares of company stock worth $9,140,195 over the last 90 days. 0.18% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Mizuho assumed coverage on shares of Costco Wholesale in a research report on Friday, April 11th. They set a "neutral" rating and a $975.00 price target for the company. Loop Capital reduced their price target on Costco Wholesale from $1,150.00 to $1,045.00 and set a "buy" rating on the stock in a research report on Wednesday, April 9th. Cfra Research upgraded Costco Wholesale from a "hold" rating to a "moderate buy" rating in a research report on Friday, April 4th. Telsey Advisory Group restated an "outperform" rating and issued a $1,100.00 target price on shares of Costco Wholesale in a report on Thursday, April 10th. Finally, Evercore ISI lifted 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 research note on Tuesday, March 11th. Ten investment analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company. According to data from MarketBeat.com, Costco Wholesale currently has an average rating of "Moderate Buy" and an average target price of $1,024.03.

About Costco Wholesale

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.

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