Costco Wholesale Corporation $COST Shares Bought by Mattern Capital Management LLC

Mattern Capital Management LLC grew its position in shares of Costco Wholesale Corporation (NASDAQ:COST) by 0.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,118 shares of the retailer’s stock after acquiring an additional 35 shares during the quarter. Costco Wholesale comprises 1.7% of Mattern Capital Management LLC’s portfolio, making the stock its 5th biggest position. Mattern Capital Management LLC’s holdings in Costco Wholesale were worth $13,976,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Cromwell Holdings LLC increased its stake in Costco Wholesale by 19.0% during the second quarter. Cromwell Holdings LLC now owns 1,349 shares of the retailer’s stock worth $1,335,000 after acquiring an additional 215 shares during the last quarter. Exchange Capital Management Inc. grew its stake in shares of Costco Wholesale by 38.8% in the second quarter. Exchange Capital Management Inc. now owns 4,152 shares of the retailer’s stock valued at $4,110,000 after buying an additional 1,160 shares in the last quarter. Capital & Planning LLC grew its stake in shares of Costco Wholesale by 4.1% in the second quarter. Capital & Planning LLC now owns 3,567 shares of the retailer’s stock valued at $3,532,000 after buying an additional 140 shares in the last quarter. Abacus Planning Group Inc. grew its stake in shares of Costco Wholesale by 1.5% in the second quarter. Abacus Planning Group Inc. now owns 2,270 shares of the retailer’s stock valued at $2,247,000 after buying an additional 33 shares in the last quarter. Finally, Trinity Legacy Partners LLC grew its stake in shares of Costco Wholesale by 0.8% in the second quarter. Trinity Legacy Partners LLC now owns 6,558 shares of the retailer’s stock valued at $6,240,000 after buying an additional 55 shares in the last quarter. 68.48% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. Roth Capital set a $907.00 target price on Costco Wholesale and gave the company a “neutral” rating in a research note on Friday, September 26th. Sanford C. Bernstein increased their target price on Costco Wholesale from $1,137.00 to $1,140.00 and gave the company an “outperform” rating in a research note on Friday, September 26th. Morgan Stanley lowered their target price on Costco Wholesale from $1,225.00 to $1,130.00 and set an “overweight” rating for the company in a research note on Friday, September 26th. Truist Financial lowered their target price on Costco Wholesale from $1,042.00 to $1,033.00 and set a “hold” rating for the company in a research note on Friday, September 26th. Finally, Argus increased their target price on Costco Wholesale from $1,170.00 to $1,200.00 and gave the company a “buy” rating in a research note on Monday. Eighteen analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $1,067.19.

Insiders Place Their Bets

In related news, EVP Teresa A. Jones sold 600 shares of the firm’s stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $992.05, for a total value of $595,230.00. Following the sale, the executive vice president owned 2,362 shares of the company’s stock, valued at approximately $2,343,222.10. This trade represents a 20.26% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Russell D. Miller sold 3,381 shares of the firm’s stock in a transaction that occurred on Monday, September 29th. The stock was sold at an average price of $915.00, for a total value of $3,093,615.00. Following the completion of the sale, the executive vice president directly owned 9,740 shares in the company, valued at approximately $8,912,100. This trade represents a 25.77% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 7,981 shares of company stock valued at $7,588,685 in the last quarter. Insiders own 0.18% of the company’s stock.

Costco Wholesale Trading Down 0.1%

NASDAQ:COST opened at $916.77 on Friday. The company has a quick ratio of 0.55, a current ratio of 1.03 and a debt-to-equity ratio of 0.20. The business’s 50 day moving average is $953.95 and its two-hundred day moving average is $971.03. Costco Wholesale Corporation has a 52 week low of $867.34 and a 52 week high of $1,078.23. The company has a market cap of $406.57 billion, a PE ratio of 50.34, a P/E/G ratio of 5.56 and a beta of 0.98.

Costco Wholesale (NASDAQ:COST) last released its earnings results on Thursday, September 25th. The retailer reported $5.87 EPS for the quarter, topping analysts’ consensus estimates of $5.81 by $0.06. Costco Wholesale had a return on equity of 30.09% and a net margin of 2.94%.The company had revenue of $86.16 billion for the quarter, compared to the consensus estimate of $86.01 billion. During the same quarter last year, the business posted $5.15 EPS. Costco Wholesale’s quarterly revenue was up 8.1% compared to the same quarter last year. On average, analysts predict that Costco Wholesale Corporation will post 18.03 EPS for the current year.

Costco Wholesale Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Friday, August 1st were issued a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend was Friday, August 1st. Costco Wholesale’s dividend payout ratio (DPR) is currently 28.56%.

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.