Veridan Wealth LLC Buys 355 Shares of Costco Wholesale Corporation (NASDAQ:COST)

Veridan Wealth LLC lifted its position in Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 94.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 729 shares of the retailer's stock after acquiring an additional 355 shares during the period. Veridan Wealth LLC's holdings in Costco Wholesale were worth $690,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of COST. May Barnhard Investments LLC acquired a new position in shares of Costco Wholesale in the 4th quarter valued at $485,000. Ironwood Wealth Management LLC. lifted its position in shares of Costco Wholesale by 0.6% in the fourth quarter. Ironwood Wealth Management LLC. now owns 3,852 shares of the retailer's stock valued at $3,529,000 after acquiring an additional 22 shares in the last quarter. Brighton Jones LLC grew its holdings in shares of Costco Wholesale by 12.3% during the fourth quarter. Brighton Jones LLC now owns 19,825 shares of the retailer's stock worth $18,165,000 after buying an additional 2,172 shares in the last quarter. Union Bancaire Privee UBP SA purchased a new position in Costco Wholesale in the 4th quarter worth approximately $8,776,000. Finally, Revolve Wealth Partners LLC grew its holdings in Costco Wholesale by 13.1% in the 4th quarter. Revolve Wealth Partners LLC now owns 1,123 shares of the retailer's stock valued at $1,029,000 after buying an additional 130 shares in the last quarter. Institutional investors and hedge funds own 68.48% of the company's stock.

Analyst Ratings Changes

A number of research firms recently commented on COST. Truist Financial upped their price objective on Costco Wholesale from $995.00 to $1,042.00 and gave the company a "hold" rating in a report on Friday, May 30th. Sanford C. Bernstein reiterated an "outperform" rating on shares of Costco Wholesale in a research note on Friday, March 7th. Wall Street Zen upgraded Costco Wholesale from a "hold" rating to a "buy" rating in a research note on Friday, June 6th. JPMorgan Chase & Co. boosted their target price on Costco Wholesale from $1,065.00 to $1,070.00 and gave the company an "overweight" rating in a report on Friday, March 7th. Finally, Mizuho started coverage on shares of Costco Wholesale in a research note on Friday, April 11th. They issued a "neutral" rating and a $975.00 price objective on the stock. Nine research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $1,034.79.

Costco Wholesale Trading Down 0.3%

COST stock traded down $2.56 on Tuesday, hitting $1,001.92. 2,381,733 shares of the company were exchanged, compared to its average volume of 2,066,270. Costco Wholesale Corporation has a twelve month low of $793.00 and a twelve month high of $1,078.24. The business's fifty day moving average is $1,003.44 and its two-hundred day moving average is $981.11. The stock has a market capitalization of $444.33 billion, a price-to-earnings ratio of 56.83, a price-to-earnings-growth ratio of 5.93 and a beta of 1.00. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.02 and a quick ratio of 0.52.

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. The company had revenue of $63.21 billion during the quarter, compared to the consensus estimate of $62.93 billion. Costco Wholesale had a return on equity of 30.48% and a net margin of 2.92%. The company's 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. As a group, research analysts forecast that Costco Wholesale Corporation will post 18.03 earnings per share for the current year.

Costco Wholesale Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 16th. Shareholders of record on Friday, May 2nd were issued a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.52%. This is a boost from Costco Wholesale's previous quarterly dividend of $1.16. The ex-dividend date was Friday, May 2nd. Costco Wholesale's dividend payout ratio is 29.50%.

Insider Buying and Selling at Costco Wholesale

In other news, EVP Gary Millerchip sold 1,100 shares of the firm'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 transaction, the executive vice president now directly owns 11,165 shares of the company's stock, valued at approximately $10,495,211.65. This trade represents a 8.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Pierre Riel sold 2,000 shares of the company's stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $1,014.15, for a total value of $2,028,300.00. Following the completion of the sale, the executive vice president now owns 8,210 shares of the company's stock, valued at $8,326,171.50. This trade represents a 19.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 10,647 shares of company stock worth $10,530,961 over the last ninety days. Company insiders own 0.18% of the company's stock.

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.