Whittier Trust Co. Increases Holdings in Costco Wholesale

Whittier Trust Co. has increased its investment in Costco Wholesale Co. (NASDAQ:COST - Free Report) by 1.8% during the fourth quarter, according to its latest filing with the Securities and Exchange Commission (SEC). After acquiring an additional 1,079 shares, Whittier Trust Co. now holds a total of 60,410 shares in the retailer. This investment represents about 0.7% of Whittier Trust Co.'s overall portfolio, making Costco its 25th largest position. As of the end of the most recent quarter, the value of Whittier Trust Co.'s holdings in Costco amounted to approximately $55,351,000.

A number of other large institutional investors have also recently adjusted their stakes in Costco. For instance, Geode Capital Management LLC raised its holdings by 1.7% during the third quarter. After acquiring an additional 162,191 shares, Geode now owns 9,487,057 shares, valued at around $8.38 billion. Similarly, FMR LLC increased its stake by 3.6%, now holding 9,308,615 shares worth about $8.25 billion. Jennison Associates LLC grew its investment by 3.8%, owning a total of 3,399,127 shares valued at approximately $3.01 billion. In the fourth quarter, Fisher Asset Management LLC increased its shares by 1.4%, now holding 3,077,905 shares valued at $2.82 billion, while UBS Asset Management raised its stake by 2.3%, owning 3,075,065 shares valued at around $2.73 billion. Overall, institutional investors and hedge funds own about 68.48% of Costco's stock.

Analysts' Recommendations

Equity analysts have recently provided updates on Costco's stock. Evercore ISI increased its target price from $1,050.00 to $1,070.00, rating the stock as "outperform." Robert W. Baird raised their target price from $1,075.00 to $1,125.00, also tagging it as "outperform." Cowen reiterated a "buy" rating, while Jefferies Financial Group lifted its price target from $1,050.00 to $1,145.00, affirming a buy rating. Wells Fargo & Company increased its target from $950.00 to $1,000.00 with an "equal weight" rating. In total, nine analysts recommend holding the stock, while twenty-one suggest buying it, leading to an overall average rating of "Moderate Buy" with a consensus target price of $1,030.43.

Insider Activity

In recent insider trading, CEO Roland Michael Vachris sold 3,600 shares on March 11th at an average price of $931.00, amounting to approximately $3.35 million. After this transaction, he holds 41,077 shares worth around $38.24 million. This sale marked an 8.06% reduction in his ownership of the stock. All transactions have been reported to the SEC.

Costco's Stock Performance Overview

As of Thursday, Costco shares opened at $904.05. The company boasts a market capitalization of $401.31 billion, with a price-to-earnings (PE) ratio of 53.09 and a price-to-earnings-growth (PEG) ratio of 6.15.

The company has a quick ratio of 0.43 and a current ratio of 0.98, with a debt-to-equity ratio of 0.23. Costco has fluctuated between a 52-week low of $697.27 and a high of $1,078.24. The stock's 50-day moving average is $988.75, and the 200-day moving average stands at $944.83.

Costco reported its quarterly earnings on March 6th, revealing earnings per share of $4.02, falling short of the forecast of $4.09 by $0.07. The retailer had a net margin of 2.93% and a return on equity of 32.31%. The revenue for the quarter was $63.72 billion, above the expected $63.02 billion. Analysts forecast that Costco will report earnings per share of 18.03 for the current fiscal year.

Dividends Declared

The company has declared a quarterly dividend recently, paid on February 21st, to shareholders on record as of February 7th. This resulted in a dividend distribution of $1.16 per share, corresponding to an annualized dividend of $4.64 and a dividend yield of 0.51%. The ex-dividend date was also February 7th, with Costco's current dividend payout ratio at 27.09%.

About Costco Wholesale

Costco Wholesale Corporation, along with its subsidiaries, operates membership warehouses across multiple countries including the United States, Canada, Mexico, and several others. It provides both branded and private label products across various merchandise categories.

investment, shares, insider, holdings, dividend