Challenger Wealth Management Invests $2.33 Million in Costco Wholesale Co. (NASDAQ:COST)

Challenger Wealth Management bought a new position in shares of Costco Wholesale Co. (NASDAQ:COST - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 2,542 shares of the retailer's stock, valued at approximately $2,329,000. Costco Wholesale accounts for approximately 2.0% of Challenger Wealth Management's investment portfolio, making the stock its 13th biggest holding.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Stanich Group LLC purchased a new stake in shares of Costco Wholesale during the fourth quarter worth approximately $214,000. Geode Capital Management LLC grew its holdings in shares of Costco Wholesale by 2.7% during the 4th quarter. Geode Capital Management LLC now owns 9,739,175 shares of the retailer's stock worth $8,901,249,000 after purchasing an additional 252,118 shares during the period. Brentview Investment Management LLC purchased a new position in shares of Costco Wholesale during the 4th quarter worth $4,522,000. Manuka Financial LLC purchased a new position in shares of Costco Wholesale during the 4th quarter worth $258,000. Finally, Flavin Financial Services Inc. purchased a new position in shares of Costco Wholesale during the 4th quarter worth $1,494,000. Institutional investors and hedge funds own 68.48% of the company's stock.

Costco Wholesale Price Performance

Shares of Costco Wholesale stock traded up $9.29 during trading on Tuesday, reaching $1,017.79. The company's stock had a trading volume of 1,865,159 shares, compared to its average volume of 2,050,996. The company has a quick ratio of 0.43, a current ratio of 0.98 and a debt-to-equity ratio of 0.23. Costco Wholesale Co. has a 12-month low of $788.20 and a 12-month high of $1,078.24. The company has a market capitalization of $451.58 billion, a P/E ratio of 59.76, a price-to-earnings-growth ratio of 6.15 and a beta of 1.00. The business has a 50 day moving average price of $975.30 and a 200-day moving average price of $973.43.

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

Costco Wholesale Increases Dividend

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

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on COST shares. Telsey Advisory Group reiterated an "outperform" rating on shares of Costco Wholesale in a report on Wednesday, May 21st. Stifel Nicolaus lowered their target price on Costco Wholesale from $1,075.00 to $1,035.00 and set a "buy" rating for the company in a report on Thursday, March 20th. Loop Capital lowered their target price on Costco Wholesale from $1,150.00 to $1,045.00 and set a "buy" rating for the company in a report on Wednesday, April 9th. Mizuho started coverage on Costco Wholesale in a report on Friday, April 11th. They set a "neutral" rating and a $975.00 target price for the company. Finally, DA Davidson raised their target price on Costco Wholesale from $900.00 to $1,000.00 and gave the company a "neutral" rating in a report on Thursday, February 6th. Ten analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $1,024.03.

Insiders Place Their Bets

In other Costco Wholesale news, EVP Gary Millerchip sold 1,100 shares of the business's stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $940.01, for a total transaction of $1,034,011.00. Following the sale, the executive vice president now directly owns 11,165 shares in the company, valued at approximately $10,495,211.65. The trade was a 8.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP James C. Klauer sold 4,000 shares of the business's stock in a transaction 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 sale, the executive vice president now owns 43,994 shares in the company, valued at approximately $43,161,193.58. The trade was a 8.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 9,600 shares of company stock worth $9,140,195. 0.18% of the stock is owned by corporate insiders.

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.