Martingale Asset Management L P Lowers Stock Holdings in Costco Wholesale Co. (NASDAQ:COST)

Martingale Asset Management L P trimmed its stake in shares of Costco Wholesale Co. (NASDAQ:COST) by 6.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 44,215 shares of the retailer’s stock after selling 3,032 shares during the period. Costco Wholesale comprises about 1.0% of Martingale Asset Management L P’s holdings, making the stock its 13th biggest position. Martingale Asset Management L P’s holdings in Costco Wholesale were worth $40,513,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Vanguard Group Inc. grew its holdings in shares of Costco Wholesale by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 42,201,610 shares of the retailer’s stock worth $38,668,069,000 after purchasing an additional 455,043 shares during the period. Geode Capital Management LLC lifted its holdings in Costco Wholesale by 2.7% in the fourth quarter. Geode Capital Management LLC now owns 9,739,175 shares of the retailer’s stock worth $8,901,249,000 after acquiring an additional 252,118 shares during the last quarter. FMR LLC grew its position in shares of Costco Wholesale by 1.6% during the fourth quarter. FMR LLC now owns 9,457,824 shares of the retailer’s stock worth $8,665,921,000 after acquiring an additional 149,209 shares during the last quarter. Norges Bank bought a new stake in Costco Wholesale during the 4th quarter valued at $5,182,316,000. Finally, Invesco Ltd. boosted its holdings in shares of Costco Wholesale by 1.2% in the fourth quarter. Invesco Ltd. now owns 3,715,685 shares of the retailer’s stock valued at $3,404,571,000 after acquiring an additional 43,266 shares in the last quarter. 68.48% of the stock is currently owned by institutional investors and hedge funds.

Costco Wholesale Price Performance

Costco Wholesale stock opened at $908.75 on Wednesday. The stock has a market capitalization of $403.20 billion, a PE ratio of 53.36, a price-to-earnings-growth ratio of 6.15 and a beta of 0.95. Costco Wholesale Co. has a 12 month low of $702.00 and a 12 month high of $1,078.24. The business has a 50 day simple moving average of $985.46 and a 200-day simple moving average of $948.20. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.98 and a quick ratio of 0.43.

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). The firm had revenue of $63.72 billion during the quarter, compared to analyst estimates of $63.02 billion. Costco Wholesale had a net margin of 2.93% and a return on equity of 32.31%. Equities analysts predict that Costco Wholesale Co. will post 18.03 earnings per share for the current year.

Costco Wholesale Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, February 21st. Shareholders of record on Friday, February 7th were paid a $1.16 dividend. The ex-dividend date of this dividend was Friday, February 7th. This represents a $4.64 annualized dividend and a dividend yield of 0.51%. Costco Wholesale’s payout ratio is currently 27.09%.

Insider Activity

In other news, EVP Claudine Adamo sold 900 shares of the firm’s stock in a transaction on Monday, March 24th. The shares were sold at an average price of $922.56, for a total transaction of $830,304.00. Following the transaction, the executive vice president now owns 6,987 shares in the company, valued at approximately $6,445,926.72. This trade represents a 11.41 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Gary Millerchip sold 1,100 shares of the company’s stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $940.01, for a total transaction of $1,034,011.00. Following the sale, the executive vice president now owns 11,165 shares of the company’s stock, valued at $10,495,211.65. This trade represents a 8.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,600 shares of company stock worth $5,215,915 over the last three months. Corporate insiders own 0.18% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Raymond James raised their target price on shares of Costco Wholesale from $990.00 to $1,030.00 and gave the stock an “overweight” rating in a report on Thursday, December 12th. Cowen reaffirmed a “buy” rating on shares of Costco Wholesale in a research note on Friday, March 7th. Stifel Nicolaus lowered their price target on Costco Wholesale from $1,075.00 to $1,035.00 and set a “buy” rating on the stock in a report on Thursday, March 20th. JPMorgan Chase & Co. boosted their price objective on Costco Wholesale from $1,065.00 to $1,070.00 and gave the stock an “overweight” rating in a research report on Friday, March 7th. Finally, Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Costco Wholesale in a research report on Friday, March 7th. Nine analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus 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.