Patten & Patten Inc. TN Sells 421 Shares of Costco Wholesale Co. (NASDAQ:COST)

Patten & Patten Inc. TN decreased its position in shares of Costco Wholesale Co. (NASDAQ:COST) by 1.6% during the 4th quarter, Holdings Channel reports. The institutional investor owned 25,696 shares of the retailer’s stock after selling 421 shares during the quarter. Costco Wholesale makes up approximately 1.6% of Patten & Patten Inc. TN’s portfolio, making the stock its 11th largest position. Patten & Patten Inc. TN’s holdings in Costco Wholesale were worth $23,544,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Swedbank AB grew its holdings in shares of Costco Wholesale by 1.5% during 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 in the last quarter. United Bank grew its holdings in shares of Costco Wholesale by 7.5% during 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 in the last quarter. Curi RMB Capital LLC grew its holdings in shares of Costco Wholesale by 47.9% during 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 in the last quarter. Valley Wealth Managers Inc. grew its holdings in shares of Costco Wholesale by 2.3% during 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 in the last quarter. Finally, Coastline Trust Co grew its holdings in shares of Costco Wholesale by 3.7% during 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 in the last quarter. Institutional investors own 68.48% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. Morgan Stanley increased their target price on Costco Wholesale from $950.00 to $1,150.00 and gave the stock an “overweight” rating in a report on Friday, December 13th. Citigroup increased their target price on Costco Wholesale from $800.00 to $1,060.00 and gave the stock a “neutral” rating in a report on Wednesday, December 18th. Roth Mkm raised their price objective on Costco Wholesale from $755.00 to $907.00 and gave the company a “neutral” rating in a research note on Friday, December 13th. TD Cowen raised their price objective on Costco Wholesale from $975.00 to $1,090.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Finally, Telsey Advisory Group reaffirmed an “outperform” rating and issued a $1,100.00 price objective on shares of Costco Wholesale in a research note on Monday, March 3rd. Nine research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,030.43.

Costco Wholesale Price Performance

Shares of COST opened at $903.92 on Friday. Costco Wholesale Co. has a 1 year low of $697.27 and a 1 year high of $1,078.24. 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 price-to-earnings ratio of 53.08, a price-to-earnings-growth ratio of 6.15 and a beta of 0.81. The business has a 50-day moving average of $989.80 and a 200-day moving average of $944.47.

Costco Wholesale (NASDAQ:COST) last issued its quarterly earnings data on Thursday, March 6th. The retailer reported $4.02 earnings per share (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 company had revenue of $63.72 billion for the quarter, compared to the consensus estimate of $63.02 billion. As a group, equities research analysts anticipate that Costco Wholesale Co. will post 18.03 earnings per share for the current year.

Costco Wholesale Announces Dividend

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

Insiders Place Their Bets

In other Costco Wholesale news, CEO Roland Michael Vachris sold 3,600 shares of Costco Wholesale stock in a transaction that occurred 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 completion of the sale, the chief executive officer now directly owns 41,077 shares in the company, valued at approximately $38,242,687. The trade was a 8.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.18% of the stock is currently owned by corporate insiders.

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.