Fortress Financial Solutions LLC Grows Position in Costco Wholesale Corporation (NASDAQ:COST)

Fortress Financial Solutions LLC raised its stake in Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 97.5% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 1,031 shares of the retailer's stock after purchasing an additional 509 shares during the period. Costco Wholesale accounts for approximately 1.4% of Fortress Financial Solutions LLC's holdings, making the stock its 16th biggest holding. Fortress Financial Solutions LLC's holdings in Costco Wholesale were worth $975,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Investment Management Corp VA ADV acquired a new stake in Costco Wholesale during the fourth quarter valued at approximately $25,000. Clear Investment Research LLC raised its holdings in shares of Costco Wholesale by 22.2% during the 4th quarter. Clear Investment Research LLC now owns 55 shares of the retailer's stock valued at $51,000 after purchasing an additional 10 shares in the last quarter. Aspect Partners LLC grew its stake in Costco Wholesale by 24.4% in the 1st quarter. Aspect Partners LLC now owns 56 shares of the retailer's stock valued at $53,000 after buying an additional 11 shares during the last quarter. Capital A Wealth Management LLC acquired a new position in Costco Wholesale in the 4th quarter valued at $58,000. Finally, Mascagni Wealth Management Inc. acquired a new stake in Costco Wholesale in the 4th quarter worth $59,000. Institutional investors own 68.48% of the company's stock.

Costco Wholesale Stock Performance

Shares of NASDAQ COST traded down $13.23 during midday trading on Tuesday, hitting $967.68. 1,874,145 shares of the company's stock traded hands, compared to its average volume of 2,060,924. The firm has a fifty day moving average of $1,003.09 and a 200 day moving average of $982.53. The stock has a market capitalization of $429.15 billion, a price-to-earnings ratio of 54.89, a price-to-earnings-growth ratio of 6.10 and a beta of 0.97. Costco Wholesale Corporation has a 1 year low of $793.00 and a 1 year high of $1,078.24. 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 announced its quarterly earnings data on Thursday, May 29th. The retailer reported $4.28 earnings per share (EPS) for the quarter, beating 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 business had revenue of $63.21 billion during the quarter, compared to analyst estimates of $62.93 billion. During the same period last year, the firm posted $3.78 EPS. The company's revenue was up 8.0% on a year-over-year basis. On average, analysts forecast that Costco Wholesale Corporation will post 18.03 earnings per share for the current year.

Costco Wholesale Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 16th. Investors of record on Friday, May 2nd were given 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 yield of 0.54%. Costco Wholesale's dividend payout ratio (DPR) is currently 29.50%.

Insiders Place Their Bets

In other Costco Wholesale 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 value of $536,060.00. Following the completion of the sale, the director owned 11,531 shares of the company's stock, valued at approximately $11,300,380. This trade represents a 4.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP James C. Klauer sold 4,000 shares of Costco Wholesale stock in a transaction dated 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 directly owned 43,994 shares of the company's stock, valued at $43,161,193.58. This trade represents a 8.33% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 13,547 shares of company stock valued at $13,396,790. Insiders own 0.18% of the company's stock.

Analysts Set New Price Targets

Several analysts have weighed in on COST shares. Mizuho began coverage on shares of Costco Wholesale in a research note on Friday, April 11th. They set a "neutral" rating and a $975.00 price objective on the stock. Stifel Nicolaus set a $1,035.00 price objective on shares of Costco Wholesale in a research report on Thursday, May 29th. Cfra Research raised shares of Costco Wholesale from a "hold" rating to a "moderate buy" rating in a research report on Friday, April 4th. Wall Street Zen raised shares of Costco Wholesale from a "hold" rating to a "buy" rating in a research report on Friday, June 6th. Finally, Loop Capital cut their price objective on shares of Costco Wholesale from $1,115.00 to $1,110.00 and set a "buy" rating on the stock in a research report on Thursday, May 29th. Nine research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $1,037.48.

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.