Intact Investment Management Inc. Trims Stock Position in Costco Wholesale Co. (NASDAQ:COST)

Intact Investment Management Inc. cut its holdings in shares of Costco Wholesale Co. (NASDAQ:COST) by 34.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 290 shares of the retailer’s stock after selling 150 shares during the quarter. Intact Investment Management Inc.’s holdings in Costco Wholesale were worth $266,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Swedbank AB raised its holdings in shares of Costco Wholesale by 1.5% in the 3rd quarter. Swedbank AB now owns 443,747 shares of the retailer’s stock worth $393,391,000 after purchasing an additional 6,495 shares during the period. United Bank raised its holdings in shares of 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 period. Curi RMB Capital LLC raised its holdings in shares of Costco Wholesale by 47.9% in the 3rd quarter. Curi RMB Capital LLC now owns 2,721 shares of the retailer’s stock worth $2,412,000 after purchasing an additional 881 shares during the period. Valley Wealth Managers Inc. raised its holdings in shares of Costco Wholesale by 2.3% in the 3rd quarter. Valley Wealth Managers Inc. now owns 1,132 shares of the retailer’s stock worth $1,004,000 after purchasing an additional 25 shares during the period. Finally, Coastline Trust Co raised its holdings in shares of Costco Wholesale by 3.7% in the 3rd quarter. Coastline Trust Co now owns 9,022 shares of the retailer’s stock worth $7,998,000 after purchasing an additional 324 shares during the period. 68.48% of the stock is currently owned by hedge funds and other institutional investors.

Costco Wholesale Stock Up 1.5 %

Shares of Costco Wholesale stock opened at $903.92 on Friday. The business’s fifty day moving average price is $989.80 and its two-hundred day moving average price is $944.47. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.98 and a quick ratio of 0.43. The company has a market capitalization of $401.25 billion, a P/E ratio of 53.08, a PEG ratio of 6.15 and a beta of 0.81. Costco Wholesale Co. has a 1-year low of $697.27 and a 1-year high of $1,078.24.

Costco Wholesale (NASDAQ:COST) last posted its quarterly earnings data on Thursday, March 6th. The retailer reported $4.02 EPS for the quarter, missing analysts’ consensus estimates of $4.09 by ($0.07). Costco Wholesale had a return on equity of 32.31% and a net margin of 2.93%. The firm had revenue of $63.72 billion during the quarter, compared to the consensus estimate of $63.02 billion. As a group, research analysts forecast that Costco Wholesale Co. will post 18.03 EPS for the current year.

Costco Wholesale Announces Dividend

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

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. Truist Financial increased their target price on Costco Wholesale from $935.00 to $995.00 and gave the company a “hold” rating in a research note on Friday, March 7th. Stifel Nicolaus increased their target price on Costco Wholesale from $1,000.00 to $1,075.00 and gave the company a “buy” rating in a research note on Thursday, February 6th. Evercore ISI increased their target price on Costco Wholesale from $1,050.00 to $1,070.00 and gave the company an “outperform” rating in a research note on Tuesday, March 11th. Telsey Advisory Group reiterated an “outperform” rating and issued a $1,100.00 target price on shares of Costco Wholesale in a research note on Monday, March 3rd. Finally, Citigroup increased their target price on Costco Wholesale from $800.00 to $1,060.00 and gave the company a “neutral” rating in a research note on Wednesday, December 18th. Nine equities research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the stock. Based on data from MarketBeat.com, Costco Wholesale has a consensus rating of “Moderate Buy” and a consensus price target of $1,030.43.

Insider Transactions at Costco Wholesale

In related news, CEO Roland Michael Vachris sold 3,600 shares of Costco Wholesale stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $931.00, for a total value of $3,351,600.00. Following the transaction, the chief executive officer now directly owns 41,077 shares in the company, valued at $38,242,687. The trade was a 8.06 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.18% of the company’s stock.

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.