Chokshi & Queen Wealth Advisors Inc Invests $10.14 Million in Costco Wholesale Co. (NASDAQ:COST)

Chokshi & Queen Wealth Advisors Inc purchased a new stake in shares of Costco Wholesale Co. (NASDAQ:COST - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 11,062 shares of the retailer's stock, valued at approximately $10,136,000. Costco Wholesale accounts for 6.3% of Chokshi & Queen Wealth Advisors Inc's portfolio, making the stock its 5th biggest holding.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Garde Capital Inc. grew its position in Costco Wholesale by 3.2% during the fourth quarter. Garde Capital Inc. now owns 4,082 shares of the retailer's stock valued at $3,740,000 after purchasing an additional 128 shares in the last quarter. Hall Capital Management Co. Inc. bought a new stake in Costco Wholesale in the fourth quarter worth approximately $5,344,000. Great Valley Advisor Group Inc. grew its position in Costco Wholesale by 0.4% in the fourth quarter. Great Valley Advisor Group Inc. now owns 16,592 shares of the retailer's stock worth $15,203,000 after acquiring an additional 62 shares in the last quarter. Cypress Asset Management Inc. TX bought a new stake in Costco Wholesale in the fourth quarter worth approximately $10,774,000. Finally, Ameriflex Group Inc. bought a new stake in Costco Wholesale in the fourth quarter worth approximately $2,749,000. 68.48% of the stock is owned by hedge funds and other institutional investors.

Costco Wholesale Price Performance

NASDAQ:COST traded down $4.65 during mid-day trading on Wednesday, reaching $1,013.14. 1,666,749 shares of the company were exchanged, compared to its average volume of 2,049,469. Costco Wholesale Co. has a 12 month low of $788.20 and a 12 month high of $1,078.24. The company has a fifty day moving average of $977.74 and a 200 day moving average of $973.74. The company has a quick ratio of 0.43, a current ratio of 0.98 and a debt-to-equity ratio of 0.23. The stock has a market cap of $449.51 billion, a PE ratio of 59.49, a PEG ratio of 6.15 and a beta of 1.00.

Costco Wholesale (NASDAQ:COST - Get Free Report) last issued its earnings results on Thursday, March 6th. The retailer reported $4.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.09 by ($0.07). The business had revenue of $63.72 billion during the quarter, compared to the consensus estimate of $63.02 billion. Costco Wholesale had a net margin of 2.93% and a return on equity of 32.31%. On average, research analysts anticipate that Costco Wholesale Co. will post 18.03 EPS for the current fiscal year.

Costco Wholesale Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 16th. Investors of record on Friday, May 2nd were given a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.51%. This is an increase from Costco Wholesale's previous quarterly dividend of $1.16. The ex-dividend date was Friday, May 2nd. Costco Wholesale's dividend payout ratio (DPR) is currently 30.36%.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Loop Capital decreased their target price on shares of Costco Wholesale from $1,150.00 to $1,045.00 and set a "buy" rating for the company in a research report on Wednesday, April 9th. Cowen restated a "buy" rating on shares of Costco Wholesale in a research note on Friday, March 7th. JPMorgan Chase & Co. boosted their price objective on shares of Costco Wholesale from $1,065.00 to $1,070.00 and gave the stock an "overweight" rating in a research note on Friday, March 7th. Barclays boosted their price objective on shares of Costco Wholesale from $940.00 to $980.00 and gave the stock an "equal weight" rating in a research note on Monday, March 10th. Finally, Truist Financial boosted their price objective on shares of Costco Wholesale from $935.00 to $995.00 and gave the stock a "hold" rating in a research note on Friday, March 7th. Ten research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $1,024.03.

Insider Activity at Costco Wholesale

In related news, EVP Claudine Adamo sold 900 shares of the stock in a transaction that occurred 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 sale, the executive vice president now directly owns 6,987 shares in the company, valued at $6,445,926.72. This trade represents a 11.41% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP James C. Klauer sold 4,000 shares of the firm's stock in a transaction that occurred on Thursday, April 17th. The stock was sold at an average price of $981.07, for a total transaction of $3,924,280.00. Following the sale, the executive vice president now owns 43,994 shares in the company, valued at $43,161,193.58. This trade represents a 8.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 9,600 shares of company stock worth $9,140,195 in the last ninety days. Company insiders own 0.18% of the company's stock.

Costco Wholesale 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.