Summit Financial Consulting LLC bought a new stake in shares of Costco Wholesale Corporation (NASDAQ:COST - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 407 shares of the retailer's stock, valued at approximately $385,000. Costco Wholesale accounts for approximately 0.4% of Summit Financial Consulting LLC's holdings, making the stock its 27th largest position.
A number of other hedge funds and other institutional investors also recently made changes to their positions in COST. Investment Management Corp VA ADV bought a new position in shares of Costco Wholesale during the 4th quarter valued at about $25,000. Clear Investment Research LLC boosted its holdings in Costco Wholesale by 22.2% during the fourth quarter. Clear Investment Research LLC now owns 55 shares of the retailer's stock worth $51,000 after buying an additional 10 shares in the last quarter. Aspect Partners LLC grew its position in Costco Wholesale by 24.4% in the first quarter. Aspect Partners LLC now owns 56 shares of the retailer's stock worth $53,000 after buying an additional 11 shares during the last quarter. Capital A Wealth Management LLC bought a new position in shares of Costco Wholesale in the fourth quarter valued at $58,000. Finally, Mascagni Wealth Management Inc. acquired a new stake in shares of Costco Wholesale during the 4th quarter valued at $59,000. 68.48% of the stock is currently owned by institutional investors.
Costco Wholesale Stock Performance
NASDAQ:COST traded up $3.91 during midday trading on Friday, reaching $986.27. The stock had a trading volume of 1,101,351 shares, compared to its average volume of 2,074,110. The stock has a market capitalization of $437.39 billion, a P/E ratio of 55.94, a PEG ratio of 6.14 and a beta of 0.97. Costco Wholesale Corporation has a 1-year low of $793.00 and a 1-year high of $1,078.24. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.02 and a quick ratio of 0.52. The firm's fifty day simple moving average is $1,005.20 and its 200-day simple moving average is $981.20.
Costco Wholesale (NASDAQ:COST - Get Free Report) last announced its earnings results on Thursday, May 29th. The retailer reported $4.28 earnings per share for the quarter, beating the consensus estimate of $4.24 by $0.04. Costco Wholesale had a return on equity of 30.48% and a net margin of 2.92%. The firm had revenue of $63.21 billion during the quarter, compared to the consensus estimate of $62.93 billion. During the same quarter in the prior year, the company earned $3.78 EPS. The firm's revenue for the quarter was up 8.0% compared to the same quarter last year. On average, equities research analysts forecast that Costco Wholesale Corporation will post 18.03 EPS for the current fiscal year.
Costco Wholesale Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, May 16th. Stockholders of record on Friday, May 2nd were given a dividend of $1.30 per share. The ex-dividend date was Friday, May 2nd. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.53%. This is a positive change from Costco Wholesale's previous quarterly dividend of $1.16. Costco Wholesale's dividend payout ratio is currently 29.50%.
Analyst Upgrades and Downgrades
A number of equities analysts recently issued reports on the company. Loop Capital decreased their target price on Costco Wholesale from $1,115.00 to $1,110.00 and set a "buy" rating on the stock in a report on Thursday, May 29th. Telsey Advisory Group reiterated an "outperform" rating and issued a $1,100.00 price target on shares of Costco Wholesale in a research report on Thursday. Morgan Stanley lifted their price target on Costco Wholesale from $1,150.00 to $1,225.00 and gave the stock an "overweight" rating in a research note on Friday, May 30th. Truist Financial upped their price objective on shares of Costco Wholesale from $995.00 to $1,042.00 and gave the company a "hold" rating in a research note on Friday, May 30th. Finally, Evercore ISI decreased their target price on shares of Costco Wholesale from $1,075.00 to $1,060.00 and set an "outperform" rating for the company in a report on Tuesday, June 17th. Nine investment analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $1,034.79.
Get Our Latest Research Report on Costco Wholesale
Insider Activity at Costco Wholesale
In other Costco Wholesale news, 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 value of $3,924,280.00. Following the completion of the sale, the executive vice president owned 43,994 shares in the company, valued at approximately $43,161,193.58. This trade represents a 8.33% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Patrick J. Callans sold 3,000 shares of the firm's stock in a transaction on Monday, June 9th. The stock was sold at an average price of $1,002.77, for a total value of $3,008,310.00. Following the completion of the transaction, the executive vice president directly owned 58,543 shares of the company's stock, valued at approximately $58,705,164.11. This trade represents a 4.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 9,547 shares of company stock worth $9,496,950 in the last three months. Corporate insiders own 0.18% of the company's stock.
Costco Wholesale Company Profile
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Free Report)
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.
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