Birch Hill Investment Advisors LLC Has $36.21 Million Stock Position in Costco Wholesale Co. (NASDAQ:COST)

Birch Hill Investment Advisors LLC lessened its stake in Costco Wholesale Co. (NASDAQ:COST) by 3.7% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 42,601 shares of the retailer’s stock after selling 1,617 shares during the quarter. Costco Wholesale accounts for about 1.7% of Birch Hill Investment Advisors LLC’s investment portfolio, making the stock its 20th biggest holding. Birch Hill Investment Advisors LLC’s holdings in Costco Wholesale were worth $36,210,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Frank Rimerman Advisors LLC bought a new position in Costco Wholesale during the 4th quarter worth about $26,000. Redmont Wealth Advisors LLC acquired a new position in shares of Costco Wholesale during the first quarter worth about $32,000. Vima LLC bought a new position in shares of Costco Wholesale during the fourth quarter worth about $34,000. DSM Capital Partners LLC bought a new stake in Costco Wholesale in the 4th quarter valued at approximately $36,000. Finally, Financial Connections Group Inc. boosted its position in Costco Wholesale by 557.1% during the 2nd quarter. Financial Connections Group Inc. now owns 46 shares of the retailer’s stock worth $39,000 after acquiring an additional 39 shares during the last quarter. 68.48% of the stock is currently owned by institutional investors and hedge funds.

Costco Wholesale Trading Up 0.6 %

Shares of COST stock opened at $892.38 on Friday. Costco Wholesale Co. has a 12-month low of $539.31 and a 12-month high of $918.93. The firm has a 50 day moving average price of $854.20 and a two-hundred day moving average price of $794.02. The company has a quick ratio of 0.45, a current ratio of 0.94 and a debt-to-equity ratio of 0.27. The company has a market capitalization of $395.62 billion, a PE ratio of 55.29, a price-to-earnings-growth ratio of 5.98 and a beta of 0.78.

Costco Wholesale (NASDAQ:COST) last released its quarterly earnings results on Thursday, May 30th. The retailer reported $3.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.70 by $0.08. Costco Wholesale had a return on equity of 30.02% and a net margin of 2.83%. The business had revenue of $58.52 billion during the quarter, compared to the consensus estimate of $58.16 billion. During the same period in the previous year, the company posted $3.43 EPS. The firm’s quarterly revenue was up 9.1% on a year-over-year basis. As a group, analysts predict that Costco Wholesale Co. will post 15.98 earnings per share for the current year.

Costco Wholesale Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 9th. Stockholders of record on Friday, July 26th were issued a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a dividend yield of 0.52%. The ex-dividend date was Friday, July 26th. Costco Wholesale’s dividend payout ratio is currently 28.75%.

Insider Activity

In other Costco Wholesale news, Director Kenneth D. Denman sold 350 shares of Costco Wholesale stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $851.53, for a total value of $298,035.50. Following the completion of the sale, the director now owns 5,920 shares in the company, valued at approximately $5,041,057.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Costco Wholesale news, Director Kenneth D. Denman sold 350 shares of the firm’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $851.53, for a total transaction of $298,035.50. Following the transaction, the director now owns 5,920 shares in the company, valued at approximately $5,041,057.60. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Susan L. Decker sold 620 shares of the company’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $876.50, for a total value of $543,430.00. Following the sale, the director now owns 11,775 shares of the company’s stock, valued at $10,320,787.50. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 4,974 shares of company stock valued at $4,252,856. 0.18% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. StockNews.com lowered shares of Costco Wholesale from a “buy” rating to a “hold” rating in a research report on Thursday. Tigress Financial increased their price objective on shares of Costco Wholesale from $870.00 to $975.00 and gave the stock a “buy” rating in a research note on Tuesday, June 25th. Loop Capital lifted their target price on Costco Wholesale from $940.00 to $970.00 and gave the company a “buy” rating in a research report on Thursday, July 11th. Deutsche Bank Aktiengesellschaft increased their price target on Costco Wholesale from $925.00 to $927.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. Finally, Wells Fargo & Company boosted their price target on Costco Wholesale from $775.00 to $800.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 11th. Eight research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $824.50.

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.