Baldwin Investment Management LLC Has $8.74 Million Stake in Costco Wholesale Co. (NASDAQ:COST)

Baldwin Investment Management LLC decreased its position in Costco Wholesale Co. (NASDAQ:COST) by 2.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,855 shares of the retailer’s stock after selling 218 shares during the quarter. Costco Wholesale makes up 1.1% of Baldwin Investment Management LLC’s portfolio, making the stock its 8th biggest position. Baldwin Investment Management LLC’s holdings in Costco Wholesale were worth $8,736,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Charles Schwab Investment Management Inc. lifted its stake in Costco Wholesale by 1.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,808,255 shares of the retailer’s stock valued at $2,489,574,000 after acquiring an additional 32,074 shares during the period. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors lifted its position in Costco Wholesale by 62.8% during the third quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors now owns 2,417 shares of the retailer’s stock valued at $2,143,000 after purchasing an additional 932 shares during the period. Nwam LLC purchased a new stake in Costco Wholesale in the third quarter worth approximately $20,056,000. Hudson Value Partners LLC grew its position in Costco Wholesale by 7.6% in the 3rd quarter. Hudson Value Partners LLC now owns 8,046 shares of the retailer’s stock worth $7,133,000 after purchasing an additional 568 shares during the period. Finally, Cantor Fitzgerald Investment Advisors L.P. boosted its stake in shares of Costco Wholesale by 66.9% in the 3rd quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 3,088 shares of the retailer’s stock worth $2,738,000 after buying an additional 1,238 shares during the last quarter. Institutional investors own 68.48% of the company’s stock.

Insider Buying and Selling

In other news, EVP Russell D. Miller sold 4,400 shares of Costco Wholesale stock in a transaction on Friday, October 11th. The shares were sold at an average price of $891.15, for a total transaction of $3,921,060.00. Following the completion of the sale, the executive vice president now directly owns 10,202 shares in the company, valued at approximately $9,091,512.30. The trade was a 30.13 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Richard A. Galanti sold 1,416 shares of the company’s stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $894.68, for a total value of $1,266,866.88. Following the completion of the transaction, the executive vice president now directly owns 27,400 shares in the company, valued at approximately $24,514,232. The trade was a 4.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 11,016 shares of company stock worth $9,826,115 in the last three months. 0.18% of the stock is owned by insiders.

Costco Wholesale Stock Performance

Shares of NASDAQ:COST opened at $971.50 on Wednesday. The company has a current ratio of 0.97, a quick ratio of 0.44 and a debt-to-equity ratio of 0.25. The company has a market capitalization of $430.44 billion, a price-to-earnings ratio of 58.63, a PEG ratio of 5.93 and a beta of 0.80. The firm’s 50-day moving average is $903.72 and its 200 day moving average is $868.77. Costco Wholesale Co. has a 12 month low of $582.83 and a 12 month high of $976.30.

Costco Wholesale (NASDAQ:COST) last released its quarterly earnings data on Thursday, September 26th. The retailer reported $5.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.05 by $0.10. The firm had revenue of $79.70 billion for the quarter, compared to the consensus estimate of $79.91 billion. Costco Wholesale had a net margin of 2.90% and a return on equity of 31.05%. The company’s quarterly revenue was up 1.0% on a year-over-year basis. During the same period last year, the firm earned $4.86 earnings per share. Research analysts predict that Costco Wholesale Co. will post 17.75 EPS for the current year.

Costco Wholesale Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 1st were given a $1.16 dividend. This represents a $4.64 annualized dividend and a dividend yield of 0.48%. The ex-dividend date was Friday, November 1st. Costco Wholesale’s payout ratio is 28.00%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Telsey Advisory Group reissued an “outperform” rating and issued a $1,000.00 target price on shares of Costco Wholesale in a report on Monday, November 4th. StockNews.com downgraded shares of Costco Wholesale from a “buy” rating to a “hold” rating in a report on Friday, September 27th. Melius Research initiated coverage on Costco Wholesale in a report on Monday, September 23rd. They set a “hold” rating and a $950.00 price target for the company. Loop Capital raised their price objective on Costco Wholesale from $975.00 to $1,005.00 and gave the stock a “buy” rating in a research note on Friday, September 27th. Finally, Roth Mkm boosted their price objective on Costco Wholesale from $676.00 to $755.00 and gave the company a “neutral” rating in a research note on Friday, September 27th. Ten equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat.com, Costco Wholesale has a consensus rating of “Moderate Buy” and an average target price of $908.81.

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.