Towerpoint Wealth LLC Purchases 1,532 Shares of Costco Wholesale Co. (NASDAQ:COST)

Towerpoint Wealth LLC boosted its position in shares of Costco Wholesale Co. (NASDAQ:COST - Free Report) by 246.3% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,154 shares of the retailer's stock after purchasing an additional 1,532 shares during the period. Costco Wholesale comprises about 1.0% of Towerpoint Wealth LLC's investment portfolio, making the stock its 21st biggest position. Towerpoint Wealth LLC's holdings in Costco Wholesale were worth $2,037,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in COST. GAMMA Investing LLC lifted its holdings in Costco Wholesale by 106,402.1% during the 1st quarter. GAMMA Investing LLC now owns 8,160,190 shares of the retailer's stock valued at $7,717,744,000 after purchasing an additional 8,152,528 shares during the last quarter. Norges Bank acquired a new stake in Costco Wholesale in the 4th quarter valued at about $5,182,316,000. Proficio Capital Partners LLC increased its position in Costco Wholesale by 74,796.3% in the 4th quarter. Proficio Capital Partners LLC now owns 1,521,893 shares of the retailer's stock valued at $1,394,465,000 after acquiring an additional 1,519,861 shares in the last quarter. Leigh Baldwin & CO. LLC acquired a new stake in Costco Wholesale in the 4th quarter valued at about $95,452,000. Finally, Strategic Financial Concepts LLC increased its position in Costco Wholesale by 100,422.3% in the 4th quarter. Strategic Financial Concepts LLC now owns 796,137 shares of the retailer's stock valued at $729,476,000 after acquiring an additional 795,345 shares in the last quarter. 68.48% of the stock is owned by institutional investors.

Costco Wholesale Stock Down 3.3%

Shares of Costco Wholesale stock traded down $34.76 on Thursday, hitting $1,016.93. The company had a trading volume of 1,701,437 shares, compared to its average volume of 2,249,987. The firm has a market capitalization of $451.19 billion, a P/E ratio of 59.71, a P/E/G ratio of 6.15 and a beta of 1.00. Costco Wholesale Co. has a twelve month low of $793.00 and a twelve month high of $1,078.23. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.98 and a quick ratio of 0.43. The stock has a 50-day moving average of $991.17 and a 200-day moving average of $978.09.

Costco Wholesale (NASDAQ:COST - Get Free Report) last released its quarterly 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. The company had revenue of $63.21 billion during the quarter, compared to analysts' expectations of $62.93 billion. Costco Wholesale had a net margin of 2.93% and a return on equity of 32.31%. The business's quarterly revenue was up 8.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.78 earnings per share. Research analysts predict that Costco Wholesale Co. will post 18.03 earnings per share for the current year.

Costco Wholesale Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 16th. Stockholders 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%. The ex-dividend date was Friday, May 2nd. This is a positive change from Costco Wholesale's previous quarterly dividend of $1.16. Costco Wholesale's payout ratio is currently 30.36%.

Insider Transactions at Costco Wholesale

In other Costco Wholesale news, EVP James C. Klauer sold 4,000 shares of the company's stock in a transaction 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 sale, the executive vice president now directly owns 43,994 shares of the company's stock, valued at approximately $43,161,193.58. This represents a 8.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Claudine Adamo sold 900 shares of the company's stock in a transaction on Monday, March 24th. The stock was sold at an average price of $922.56, for a total transaction 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 9,600 shares of company stock valued at $9,140,195 over the last 90 days. 0.18% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have weighed in on COST. Cfra Research upgraded shares of Costco Wholesale from a "hold" rating to a "moderate buy" rating in a research report on Friday, April 4th. Cowen restated a "buy" rating on shares of Costco Wholesale in a research report on Friday, March 7th. Mizuho began coverage on shares of Costco Wholesale in a research report on Friday, April 11th. They issued a "neutral" rating and a $975.00 price objective for the company. Telsey Advisory Group restated an "outperform" rating and issued a $1,100.00 price objective on shares of Costco Wholesale in a research report on Tuesday. Finally, DA Davidson lifted their price target on shares of Costco Wholesale from $900.00 to $1,000.00 and gave the stock a "neutral" rating in a research report on Thursday, February 6th. Ten analysts have rated the stock with a hold rating and twenty have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $1,035.32.

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.