Castle Rock Wealth Management LLC Sells 322 Shares of Costco Wholesale Co. (NASDAQ:COST)

Castle Rock Wealth Management LLC lowered its stake in Costco Wholesale Co. (NASDAQ:COST - Free Report) by 8.3% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,578 shares of the retailer's stock after selling 322 shares during the period. Costco Wholesale makes up about 0.9% of Castle Rock Wealth Management LLC's investment portfolio, making the stock its 22nd largest holding. Castle Rock Wealth Management LLC's holdings in Costco Wholesale were worth $3,411,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Investment Management Corp VA ADV acquired a new stake in Costco Wholesale during the 4th quarter valued at $25,000. Synergy Investment Management LLC acquired a new stake in Costco Wholesale during the 4th quarter valued at $31,000. NewSquare Capital LLC raised its stake in Costco Wholesale by 250.0% during the 4th quarter. NewSquare Capital LLC now owns 35 shares of the retailer's stock valued at $32,000 after purchasing an additional 25 shares during the period. Collier Financial acquired a new stake in Costco Wholesale during the 4th quarter valued at $35,000. Finally, Barrett & Company Inc. raised its stake in Costco Wholesale by 59.3% during the 4th 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 period. Institutional investors own 68.48% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. Cfra Research raised 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 shares of Costco Wholesale from $995.00 to $1,042.00 and gave the stock a "hold" rating in a research note on Friday, May 30th. Telsey Advisory Group reaffirmed a "hold" rating on shares of Costco Wholesale in a research note on Tuesday. Stifel Nicolaus set a $1,035.00 price target on shares of Costco Wholesale in a research note on Thursday, May 29th. Finally, JPMorgan Chase & Co. upped their price target 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. Eleven analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Costco Wholesale presently has a consensus rating of "Moderate Buy" and a consensus target price of $1,035.32.

Insider Transactions at Costco Wholesale

In related news, EVP Claudine Adamo sold 900 shares of Costco Wholesale stock in a transaction dated Monday, March 24th. The stock was 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 in the company, valued at $6,445,926.72. This trade represents a 11.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP James C. Klauer sold 4,000 shares of the stock in a transaction that occurred on Thursday, April 17th. The shares were sold at an average price of $981.07, for a total transaction of $3,924,280.00. Following the completion of the transaction, the executive vice president now owns 43,994 shares in the company, valued at $43,161,193.58. This represents a 8.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 9,600 shares of company stock valued at $9,140,195. Corporate insiders own 0.18% of the company's stock.

Costco Wholesale Price Performance

NASDAQ:COST traded up $1.33 during mid-day trading on Wednesday, hitting $1,056.92. The company's stock had a trading volume of 537,279 shares, compared to its average volume of 2,046,319. Costco Wholesale Co. has a fifty-two week low of $793.00 and a fifty-two week high of $1,078.24. The company has a current ratio of 0.98, a quick ratio of 0.43 and a debt-to-equity ratio of 0.23. The company has a market capitalization of $468.94 billion, a price-to-earnings ratio of 62.06, a P/E/G ratio of 6.15 and a beta of 1.00. The stock has a fifty day moving average of $988.73 and a 200-day moving average of $977.58.

Costco Wholesale (NASDAQ:COST - Get Free Report) last posted its quarterly earnings results on Thursday, May 29th. The retailer reported $4.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.24 by $0.04. The firm had revenue of $63.21 billion during the quarter, compared to analyst estimates of $62.93 billion. Costco Wholesale had a net margin of 2.93% and a return on equity of 32.31%. The company's quarterly revenue was up 8.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.78 earnings per share. As a group, equities analysts forecast that Costco Wholesale Co. will post 18.03 EPS for the current fiscal year.

Costco Wholesale Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 16th. Stockholders of record on Friday, May 2nd were issued a dividend of $1.30 per share. This is a positive change from Costco Wholesale's previous quarterly dividend of $1.16. The ex-dividend date of this dividend was Friday, May 2nd. This represents a $5.20 annualized dividend and a dividend yield of 0.49%. Costco Wholesale's dividend payout ratio (DPR) is presently 30.36%.

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.