Maridea Wealth Management LLC Has $780,000 Holdings in Costco Wholesale Corporation (NASDAQ:COST)

Key Points

• Maridea Wealth Management LLC increased its stake in Costco Wholesale by 67.1%, acquiring 331 additional shares, bringing its total to 824 shares valued at $780,000.
• Insider transactions include EVP Yoram Rubanenko selling 4,000 shares for approximately $3.9 million, reducing his position by 40.92%.
• Costco Wholesale released its earnings results, reporting $4.28 EPS for the quarter, beating estimates, and projecting a consensus rating of "Moderate Buy" with an average target price of $1,037.48.

Maridea Wealth Management LLC boosted its stake in shares of Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 67.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 824 shares of the retailer's stock after buying an additional 331 shares during the quarter. Maridea Wealth Management LLC's holdings in Costco Wholesale were worth $780,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Investment Management Corp VA ADV acquired a new stake in shares of Costco Wholesale in the fourth quarter valued at approximately $25,000. Aspect Partners LLC grew its position in shares of Costco Wholesale by 24.4% in the first quarter. Aspect Partners LLC now owns 56 shares of the retailer's stock valued at $53,000 after purchasing an additional 11 shares during the last quarter. Capital A Wealth Management LLC acquired a new stake in shares of Costco Wholesale in the fourth quarter valued at approximately $58,000. Mascagni Wealth Management Inc. acquired a new stake in shares of Costco Wholesale in the fourth quarter valued at approximately $59,000. Finally, Bank & Trust Co grew its position in shares of Costco Wholesale by 20.4% in the first quarter. Bank & Trust Co now owns 65 shares of the retailer's stock valued at $61,000 after purchasing an additional 11 shares during the last quarter. 68.48% of the stock is currently owned by institutional investors and hedge funds.

Costco Wholesale Price Performance

Shares of COST stock traded up $15.03 during midday trading on Thursday, reaching $942.54. 1,439,963 shares of the company were exchanged, compared to its average volume of 2,204,613. Costco Wholesale Corporation has a 12 month low of $793.00 and a 12 month high of $1,078.23. The company has a market cap of $418.00 billion, a P/E ratio of 53.46, a PEG ratio of 5.81 and a beta of 0.97. The company's 50 day moving average price is $986.03 and its two-hundred day moving average price is $983.48. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.52 and a current ratio of 1.02.

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

Costco Wholesale Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Friday, August 1st will be issued a $1.30 dividend. The ex-dividend date is Friday, August 1st. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.55%. Costco Wholesale's payout ratio is currently 29.50%.

Insider Buying and Selling at Costco Wholesale

In related news, EVP Pierre Riel sold 2,000 shares of the business's stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $1,014.15, for a total value of $2,028,300.00. Following the sale, the executive vice president directly owned 8,210 shares in the company, valued at $8,326,171.50. The trade was a 19.59% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Susan L. Decker sold 547 shares of the business's stock in a transaction that occurred on Wednesday, June 18th. The stock was sold at an average price of $980.00, for a total transaction of $536,060.00. Following the completion of the sale, the director owned 11,531 shares in the company, valued at $11,300,380. The trade was a 4.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 9,547 shares of company stock valued at $9,472,510 over the last quarter. Company insiders own 0.18% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on COST shares. Evercore ISI lowered their price target on shares of Costco Wholesale from $1,075.00 to $1,060.00 and set an "outperform" rating on the stock in a research report on Tuesday, June 17th. Truist Financial raised their target price on shares of Costco Wholesale from $995.00 to $1,042.00 and gave the stock a "hold" rating in a research report on Friday, May 30th. Telsey Advisory Group restated an "outperform" rating and set a $1,100.00 target price on shares of Costco Wholesale in a research report on Thursday, July 10th. Cfra Research upgraded shares of Costco Wholesale from a "hold" rating to a "moderate buy" rating in a research report on Friday, April 4th. Finally, Stifel Nicolaus set a $1,035.00 target price on shares of Costco Wholesale in a research report on Thursday, May 29th. Nine analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $1,037.48.

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.