1248 Management LLC Acquires Shares of 1,957 Costco Wholesale Co. (NASDAQ:COST)

1248 Management LLC purchased a new stake in Costco Wholesale Co. (NASDAQ:COST - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 1,957 shares of the retailer's stock, valued at approximately $1,793,000. Costco Wholesale makes up 0.8% of 1248 Management LLC's holdings, making the stock its 25th largest position.

Several other institutional investors have also made changes to their positions in COST. Synergy Investment Management LLC acquired a new stake in Costco Wholesale in the fourth quarter valued at approximately $31,000. NewSquare Capital LLC lifted its stake in shares of 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 acquiring an additional 25 shares during the last quarter. Endeavor Private Wealth Inc. bought a new stake in Costco Wholesale during the 4th quarter worth $33,000. Collier Financial acquired a new position in Costco Wholesale in the 4th quarter worth about $35,000. Finally, Barrett & Company Inc. raised its position in Costco Wholesale by 59.3% in the fourth quarter. Barrett & Company Inc. now owns 43 shares of the retailer's stock valued at $39,000 after purchasing an additional 16 shares during the last quarter. 68.48% of the stock is currently owned by institutional investors.

Costco Wholesale Price Performance

Costco Wholesale stock traded down $4.94 during midday trading on Tuesday, reaching $1,009.95. 674,225 shares of the stock were exchanged, compared to its average volume of 2,027,742. The company's fifty day moving average is $961.10 and its 200-day moving average is $960.83. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.43 and a current ratio of 0.98. Costco Wholesale Co. has a 52 week low of $746.48 and a 52 week high of $1,078.24. The firm has a market cap of $448.10 billion, a PE ratio of 59.28, a PEG ratio of 6.15 and a beta of 1.00.

Costco Wholesale (NASDAQ:COST - Get Free Report) last posted its earnings results 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 analysts' expectations of $63.02 billion. Costco Wholesale had a return on equity of 32.31% and a net margin of 2.93%. On average, sell-side analysts forecast that Costco Wholesale Co. will post 18.03 EPS for the current year.

Costco Wholesale Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 16th. Shareholders of record on Friday, May 2nd will be given a dividend of $1.30 per share. The ex-dividend date is Friday, May 2nd. This is a positive change from Costco Wholesale's previous quarterly dividend of $1.16. This represents a $5.20 annualized dividend and a yield of 0.51%. Costco Wholesale's payout ratio is presently 30.36%.

Analyst Upgrades and Downgrades

Several research firms recently commented on COST. Barclays lifted their target price on shares of Costco Wholesale from $940.00 to $980.00 and gave the stock an "equal weight" rating in a research report on Monday, March 10th. Cowen reaffirmed a "buy" rating on shares of Costco Wholesale in a research note on Friday, March 7th. Truist Financial increased their price target on Costco Wholesale from $935.00 to $995.00 and gave the stock a "hold" rating in a report on Friday, March 7th. Telsey Advisory Group reiterated an "outperform" rating and issued a $1,100.00 price objective on shares of Costco Wholesale in a research note on Monday. Finally, Cfra Research raised shares of Costco Wholesale from a "hold" rating to a "moderate buy" rating in a research note on Friday, April 4th. Ten analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. According to data from MarketBeat, Costco Wholesale currently has a consensus rating of "Moderate Buy" and an average price target of $1,024.03.

Insider Buying and Selling

In other Costco Wholesale news, EVP Claudine Adamo sold 900 shares of the business's stock in a transaction on Monday, March 24th. The shares were sold at an average price of $922.56, for a total value of $830,304.00. Following the completion of the sale, the executive vice president now directly owns 6,987 shares of the company's stock, valued at $6,445,926.72. The trade was a 11.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Roland Michael Vachris sold 3,600 shares of the stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $931.00, for a total value of $3,351,600.00. Following the sale, the chief executive officer now owns 41,077 shares of the company's stock, valued at $38,242,687. This represents a 8.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 9,600 shares of company stock worth $9,140,195. Corporate insiders own 0.18% of the company's stock.

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.