Arcadia Wealth Management LLC Takes Position in Costco Wholesale Corporation (NASDAQ:COST)

Arcadia Wealth Management LLC acquired a new stake in Costco Wholesale Corporation (NASDAQ:COST - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 301 shares of the retailer's stock, valued at approximately $285,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. GAMMA Investing LLC raised its holdings in shares of Costco Wholesale by 106,402.1% during the first quarter. GAMMA Investing LLC now owns 8,160,190 shares of the retailer's stock worth $7,717,744,000 after acquiring an additional 8,152,528 shares in the last quarter. Norges Bank bought a new position in Costco Wholesale in the 4th quarter worth approximately $5,182,316,000. Leigh Baldwin & CO. LLC acquired a new stake in Costco Wholesale during the 4th quarter worth $95,452,000. Northern Trust Corp boosted its stake in Costco Wholesale by 12.6% in the 4th quarter. Northern Trust Corp now owns 5,257,809 shares of the retailer's stock worth $4,817,573,000 after purchasing an additional 587,303 shares during the period. Finally, Vanguard Group Inc. raised its holdings in shares of Costco Wholesale by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 42,201,610 shares of the retailer's stock valued at $38,668,069,000 after purchasing an additional 455,043 shares during the period. 68.48% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on COST shares. Cfra Research upgraded shares of Costco Wholesale from a "hold" rating to a "moderate buy" rating in a research note on Friday, April 4th. Truist Financial upped their price target on Costco Wholesale from $995.00 to $1,042.00 and gave the company a "hold" rating in a research report on Friday, May 30th. Stifel Nicolaus set a $1,035.00 price objective on Costco Wholesale in a research note on Thursday, May 29th. Mizuho started coverage on Costco Wholesale in a research report on Friday, April 11th. They set a "neutral" rating and a $975.00 target price for the company. Finally, Telsey Advisory Group reiterated an "outperform" rating and set a $1,100.00 target price on shares of Costco Wholesale in a research note on Thursday, July 10th. Nine investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the company's stock. Based on data from MarketBeat.com, Costco Wholesale has a consensus rating of "Moderate Buy" and a consensus price target of $1,037.48.

Insider Activity

In other Costco Wholesale news, EVP Pierre Riel sold 2,000 shares of the business's stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $1,014.15, for a total transaction of $2,028,300.00. Following the sale, the executive vice president directly owned 8,210 shares in the company, valued at approximately $8,326,171.50. The trade was a 19.59% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Patrick J. Callans sold 3,000 shares of Costco Wholesale stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $1,002.77, for a total transaction of $3,008,310.00. Following the completion of the transaction, the executive vice president directly owned 58,543 shares in the company, 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 sold a total of 9,547 shares of company stock valued at $9,472,510 in the last 90 days. Company insiders own 0.18% of the company's stock.

Costco Wholesale Price Performance

Costco Wholesale stock traded down $5.95 during midday trading on Tuesday, hitting $941.61. 1,797,005 shares of the company's stock were exchanged, compared to its average volume of 2,065,085. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.52 and a current ratio of 1.02. The stock has a 50-day moving average price of $998.91 and a two-hundred day moving average price of $983.64. Costco Wholesale Corporation has a 52-week low of $793.00 and a 52-week high of $1,078.24. The company has a market cap of $417.59 billion, a P/E ratio of 53.41, a PEG ratio of 5.91 and a beta of 0.97.

Costco Wholesale (NASDAQ:COST - Get Free Report) last posted its quarterly earnings results on Thursday, May 29th. The retailer reported $4.28 EPS for the quarter, beating analysts' consensus estimates of $4.24 by $0.04. The business had revenue of $63.21 billion for the quarter, compared to analysts' expectations of $62.93 billion. Costco Wholesale had a return on equity of 30.48% and a net margin of 2.92%. The business's quarterly revenue was up 8.0% on a year-over-year basis. During the same period last year, the firm earned $3.78 earnings per share. On average, equities research analysts forecast that Costco Wholesale Corporation will post 18.03 earnings per share for the current year.

Costco Wholesale Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Friday, August 1st will be given a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 0.55%. The ex-dividend date is Friday, August 1st. Costco Wholesale's dividend payout ratio (DPR) is 29.50%.

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.