MGB Wealth Management LLC Increases Position in Costco Wholesale Corporation (NASDAQ:COST)

Key Points

• MGB Wealth Management LLC has increased its stake in Costco Wholesale Corporation by 61.6%, now owning 879 shares valued at approximately $831,000.
• Costco's most recent quarterly earnings report showed a revenue of $63.21 billion and an EPS of $4.28, exceeding analysts' forecasts.
• The company declared a quarterly dividend of $1.30 per share, contributing to an annualized dividend yield of 0.6%.

MGB Wealth Management LLC lifted its stake in Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 61.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 879 shares of the retailer's stock after purchasing an additional 335 shares during the period. MGB Wealth Management LLC's holdings in Costco Wholesale were worth $831,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC boosted its position in Costco Wholesale by 106,402.1% during the first quarter. GAMMA Investing LLC now owns 8,160,190 shares of the retailer's stock worth $7,717,744,000 after purchasing an additional 8,152,528 shares in the last quarter. Northern Trust Corp raised its stake in shares of Costco Wholesale by 12.6% during the 4th quarter. Northern Trust Corp now owns 5,257,809 shares of the retailer's stock worth $4,817,573,000 after buying an additional 587,303 shares during the last quarter. Capital World Investors boosted its position in shares of Costco Wholesale by 0.5% in the 4th quarter. Capital World Investors now owns 3,990,957 shares of the retailer's stock worth $3,656,828,000 after buying an additional 18,897 shares in the last quarter. Jennison Associates LLC grew its stake in Costco Wholesale by 3.9% in the 1st quarter. Jennison Associates LLC now owns 3,357,630 shares of the retailer's stock valued at $3,175,579,000 after acquiring an additional 125,441 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Costco Wholesale by 6.8% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,284,152 shares of the retailer's stock valued at $3,009,170,000 after acquiring an additional 209,087 shares in the last quarter. Hedge funds and other institutional investors own 68.48% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. 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 target on the stock. Evercore ISI reduced their price objective on 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. Morgan Stanley increased their price objective on Costco Wholesale from $1,150.00 to $1,225.00 and gave the company an "overweight" rating in a research note on Friday, May 30th. Loop Capital dropped their price objective on Costco Wholesale from $1,115.00 to $1,110.00 and set a "buy" rating for the company in a research report on Thursday, May 29th. Finally, Truist Financial upped their target price on shares of Costco Wholesale from $995.00 to $1,042.00 and gave the company a "hold" rating in a report on Friday, May 30th. Ten investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. According to MarketBeat.com, Costco Wholesale presently has an average rating of "Moderate Buy" and an average price target of $1,040.81.

Insider Buying and Selling

In related news, Director Susan L. Decker sold 547 shares of the firm's stock in a transaction dated Wednesday, June 18th. The stock was sold at an average price of $980.00, for a total transaction of $536,060.00. Following the sale, the director directly owned 11,531 shares in the company, valued at approximately $11,300,380. This trade represents a 4.53% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Yoram Rubanenko sold 4,000 shares of the business's stock in a transaction that occurred on Monday, July 14th. The stock was sold at an average price of $974.96, for a total value of $3,899,840.00. Following the transaction, the executive vice president directly owned 5,774 shares in the company, valued at $5,629,419.04. This trade represents a 40.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 9,547 shares of company stock worth $9,472,510 in the last ninety days. 0.18% of the stock is owned by corporate insiders.

Costco Wholesale Trading Up 0.9%

NASDAQ COST traded up $8.89 during mid-day trading on Thursday, hitting $977.45. The company's stock had a trading volume of 1,889,814 shares, compared to its average volume of 2,222,700. The firm has a market capitalization of $433.48 billion, a P/E ratio of 55.44, a price-to-earnings-growth ratio of 6.02 and a beta of 0.96. 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 Corporation has a 52-week low of $820.45 and a 52-week high of $1,078.23. The stock's fifty day simple moving average is $979.28 and its two-hundred day simple moving average is $984.62.

Costco Wholesale (NASDAQ:COST - Get Free Report) last announced its quarterly earnings results on Thursday, May 29th. The retailer reported $4.28 earnings per share 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 firm had revenue of $63.21 billion during the quarter, compared to analysts' expectations of $62.93 billion. During the same period in the prior year, the company earned $3.78 EPS. The firm's revenue was up 8.0% on a year-over-year basis. Research analysts expect that Costco Wholesale Corporation will post 18.03 EPS for the current year.

Costco Wholesale Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Friday, August 1st will be paid 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 0.5%. Costco Wholesale's dividend payout ratio (DPR) is 29.50%.

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.