Matrix Trust Co Lowers Holdings in Costco Wholesale Co. (NASDAQ:COST)

Matrix Trust Co decreased its stake in Costco Wholesale Co. (NASDAQ:COST) by 1.1% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,201 shares of the retailer’s stock after selling 36 shares during the quarter. Costco Wholesale makes up 0.5% of Matrix Trust Co’s holdings, making the stock its 24th largest position. Matrix Trust Co’s holdings in Costco Wholesale were worth $2,113,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of COST. International Assets Investment Management LLC raised its holdings in Costco Wholesale by 61,693.5% in the 4th quarter. International Assets Investment Management LLC now owns 3,105,124 shares of the retailer’s stock worth $2,049,630,000 after purchasing an additional 3,100,099 shares during the period. C WorldWide Group Holding A S acquired a new position in Costco Wholesale in the 3rd quarter worth about $390,630,000. Alphinity Investment Management Pty Ltd acquired a new position in Costco Wholesale in the 4th quarter worth about $297,915,000. Invesco Ltd. raised its holdings in Costco Wholesale by 18.3% in the 3rd quarter. Invesco Ltd. now owns 2,088,673 shares of the retailer’s stock worth $1,180,016,000 after purchasing an additional 323,346 shares during the period. Finally, Canada Pension Plan Investment Board raised its holdings in Costco Wholesale by 34.8% in the 3rd quarter. Canada Pension Plan Investment Board now owns 1,161,630 shares of the retailer’s stock worth $656,274,000 after purchasing an additional 300,000 shares during the period. Institutional investors and hedge funds own 68.48% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on COST shares. DA Davidson reaffirmed a “neutral” rating and issued a $680.00 price target on shares of Costco Wholesale in a report on Thursday, April 11th. Citigroup increased their target price on Costco Wholesale from $630.00 to $710.00 and gave the company a “neutral” rating in a report on Tuesday. The Goldman Sachs Group increased their target price on Costco Wholesale from $665.00 to $749.00 and gave the company a “buy” rating in a report on Thursday, February 8th. Loop Capital reduced their target price on Costco Wholesale from $830.00 to $820.00 and set a “buy” rating for the company in a report on Thursday, April 11th. Finally, Telsey Advisory Group reissued an “outperform” rating and set a $800.00 target price on shares of Costco Wholesale in a report on Thursday, April 11th. Seven equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $694.48.

Insider Buying and Selling

In related news, Director Susan L. Decker sold 1,442 shares of the stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $723.48, for a total value of $1,043,258.16. Following the completion of the transaction, the director now directly owns 12,395 shares in the company, valued at $8,967,534.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Susan L. Decker sold 1,442 shares of the firm’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $723.48, for a total transaction of $1,043,258.16. Following the completion of the transaction, the director now directly owns 12,395 shares in the company, valued at $8,967,534.60. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Russell D. Miller sold 785 shares of the firm’s stock in a transaction on Wednesday, April 17th. The stock was sold at an average price of $722.86, for a total value of $567,445.10. Following the transaction, the executive vice president now owns 10,000 shares of the company’s stock, valued at $7,228,600. The disclosure for this sale can be found here. Over the last three months, insiders sold 3,727 shares of company stock worth $2,682,948. Company insiders own 0.18% of the company’s stock.

Costco Wholesale Trading Up 1.0 %

Costco Wholesale stock traded up $7.32 during mid-day trading on Friday, hitting $729.18. The company’s stock had a trading volume of 1,524,431 shares, compared to its average volume of 1,663,722. The firm has a market capitalization of $323.39 billion, a PE ratio of 47.69, a price-to-earnings-growth ratio of 4.81 and a beta of 0.77. Costco Wholesale Co. has a 1 year low of $476.75 and a 1 year high of $787.08. The company has a current ratio of 0.93, a quick ratio of 0.43 and a debt-to-equity ratio of 0.28. The stock’s fifty day moving average is $730.41 and its two-hundred day moving average is $666.04.

Costco Wholesale (NASDAQ:COST) last issued its quarterly earnings data on Thursday, March 7th. The retailer reported $3.71 earnings per share for the quarter, topping the consensus estimate of $3.62 by $0.09. The company had revenue of $58.44 billion during the quarter, compared to analyst estimates of $59.11 billion. Costco Wholesale had a return on equity of 28.80% and a net margin of 2.73%. The firm’s revenue for the quarter was up 5.7% compared to the same quarter last year. During the same period in the prior year, the business posted $3.30 earnings per share. On average, analysts anticipate that Costco Wholesale Co. will post 15.84 EPS for the current year.

Costco Wholesale Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 10th. Investors of record on Friday, April 26th will be given a $1.16 dividend. This represents a $4.64 annualized dividend and a yield of 0.64%. This is a positive change from Costco Wholesale’s previous quarterly dividend of $1.02. The ex-dividend date is Thursday, April 25th. Costco Wholesale’s dividend payout ratio is presently 30.35%.

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.