Bowen Hanes & Co. Inc. Cuts Stake in Costco Wholesale Co. (NASDAQ:COST)

Bowen Hanes & Co. Inc. reduced its holdings in shares of Costco Wholesale Co. (NASDAQ:COST) by 0.9% in the fourth quarter, Holdings Channel.com reports. The fund owned 128,984 shares of the retailer’s stock after selling 1,117 shares during the quarter. Costco Wholesale comprises about 3.2% of Bowen Hanes & Co. Inc.’s portfolio, making the stock its 3rd largest holding. Bowen Hanes & Co. Inc.’s holdings in Costco Wholesale were worth $118,184,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of the business. RPg Family Wealth Advisory LLC purchased a new stake in shares of Costco Wholesale during the third quarter valued at $29,000. Synergy Investment Management LLC bought a new stake in Costco Wholesale during the 4th quarter valued at about $31,000. NewSquare Capital LLC boosted its position in Costco Wholesale by 250.0% in the 4th quarter. NewSquare Capital LLC now owns 35 shares of the retailer’s stock valued at $32,000 after buying an additional 25 shares during the period. Endeavor Private Wealth Inc. bought a new position in Costco Wholesale in the 4th quarter worth about $33,000. Finally, Collier Financial purchased a new position in shares of Costco Wholesale during the fourth quarter worth approximately $35,000. Hedge funds and other institutional investors own 68.48% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on COST shares. Barclays boosted their price target on Costco Wholesale from $940.00 to $980.00 and gave the company an “equal weight” rating in a report on Monday. Jefferies Financial Group upped their target price on Costco Wholesale from $1,050.00 to $1,145.00 and gave the stock a “buy” rating in a report on Thursday, December 5th. Truist Financial raised their price target on Costco Wholesale from $935.00 to $995.00 and gave the company a “hold” rating in a research note on Friday, March 7th. Morgan Stanley upped their price objective on shares of Costco Wholesale from $950.00 to $1,150.00 and gave the stock an “overweight” rating in a research note on Friday, December 13th. Finally, Wells Fargo & Company raised their target price on shares of Costco Wholesale from $950.00 to $1,000.00 and gave the company an “equal weight” rating in a research report on Friday, December 13th. Nine equities research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $1,030.43.

Costco Wholesale Trading Down 0.4 %

Shares of NASDAQ:COST opened at $927.08 on Thursday. Costco Wholesale Co. has a 52-week low of $697.27 and a 52-week high of $1,078.24. The business has a 50-day moving average price of $990.44 and a 200-day moving average price of $944.52. 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 stock has a market cap of $411.53 billion, a price-to-earnings ratio of 54.44, a PEG ratio of 6.15 and a beta of 0.81.

Costco Wholesale (NASDAQ:COST) last announced its quarterly earnings data on Thursday, March 6th. The retailer reported $4.02 EPS for the quarter, missing the consensus estimate of $4.09 by ($0.07). The business had revenue of $63.72 billion for 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 EPS for the current year.

Costco Wholesale Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 21st. Shareholders of record on Friday, February 7th were given a dividend of $1.16 per share. This represents a $4.64 annualized dividend and a yield of 0.50%. The ex-dividend date of this dividend was Friday, February 7th. Costco Wholesale’s dividend payout ratio is currently 27.09%.

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.