Delta Financial Group Inc. Acquires 579 Shares of Costco Wholesale Corporation (NASDAQ:COST)

Key Points

• Delta Financial Group Inc. increased its stake in Costco Wholesale by 21.4% in the first quarter, now holding 3,290 shares worth approximately $3,047,000, positioning Costco as its 25th largest investment.
• Costco recently announced a quarterly dividend of $1.30 per share, equating to an annualized payout of $5.20, yielding 0.5% with a payout ratio of 29.50%.
• Analysts have mixed ratings for Costco, with a consensus of "Moderate Buy" and a target price averaging $1,037.48, reflecting ongoing interest from both institutional and retail investors.

Delta Financial Group Inc. grew its holdings in Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 21.4% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 3,290 shares of the retailer's stock after buying an additional 579 shares during the quarter. Costco Wholesale makes up about 0.7% of Delta Financial Group Inc.'s investment portfolio, making the stock its 25th largest holding. Delta Financial Group Inc.'s holdings in Costco Wholesale were worth $3,047,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Personal CFO Solutions LLC boosted its stake in shares of Costco Wholesale by 12.4% during the 1st quarter. Personal CFO Solutions LLC now owns 1,519 shares of the retailer's stock valued at $1,436,000 after purchasing an additional 167 shares in the last quarter. F&V Capital Management LLC purchased a new stake in shares of Costco Wholesale in the 1st quarter worth approximately $236,000. Graybill Wealth Management LTD. purchased a new stake in shares of Costco Wholesale in the first quarter worth $3,095,000. Curat Global LLC purchased a new stake in Costco Wholesale during the 1st quarter valued at about $241,000. Finally, Gateway Wealth Partners LLC increased its position in shares of Costco Wholesale by 2.0% during the first quarter. Gateway Wealth Partners LLC now owns 1,380 shares of the retailer's stock valued at $1,305,000 after acquiring an additional 27 shares in the last quarter. 68.48% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

COST has been the topic of several recent analyst reports. Mizuho assumed coverage on Costco Wholesale in a research note on Friday, April 11th. They set a "neutral" rating and a $975.00 target price on the stock. Telsey Advisory Group reaffirmed an "outperform" rating and set a $1,100.00 price target on shares of Costco Wholesale in a report on Thursday, July 10th. Wall Street Zen upgraded Costco Wholesale from a "hold" rating to a "buy" rating in a report on Friday, June 6th. Evercore ISI lowered their target price on shares of Costco Wholesale from $1,075.00 to $1,060.00 and set an "outperform" rating on the stock in a research note on Tuesday, June 17th. Finally, Truist Financial lifted their price target on shares of Costco Wholesale from $995.00 to $1,042.00 and gave the stock a "hold" rating in a research note on Friday, May 30th. Nine analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $1,037.48.

Insider Transactions at Costco Wholesale

In related news, EVP Yoram Rubanenko sold 4,000 shares of Costco Wholesale stock in a transaction dated Monday, July 14th. The shares were sold at an average price of $974.96, for a total transaction of $3,899,840.00. Following the completion of the transaction, the executive vice president directly owned 5,774 shares of the company's stock, valued at approximately $5,629,419.04. The trade was a 40.92% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Susan L. Decker sold 547 shares of the 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 completion of the sale, the director directly owned 11,531 shares in the company, valued at $11,300,380. This trade represents a 4.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 9,547 shares of company stock worth $9,472,510. 0.18% of the stock is owned by insiders.

Costco Wholesale Stock Performance

NASDAQ:COST opened at $952.52 on Friday. The stock has a 50-day moving average price of $983.34 and a 200 day moving average price of $984.24. The stock has a market capitalization of $422.42 billion, a P/E ratio of 54.03, a P/E/G ratio of 5.92 and a beta of 0.96. Costco Wholesale Corporation has a 12-month low of $793.00 and a 12-month high of $1,078.23. The company has a current ratio of 1.02, a quick ratio of 0.52 and a debt-to-equity ratio of 0.21.

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. The business had revenue of $63.21 billion during the quarter, compared to analyst estimates of $62.93 billion. Costco Wholesale had a net margin of 2.92% and a return on equity of 30.48%. The company's revenue was up 8.0% on a year-over-year basis. During the same period last year, the firm posted $3.78 EPS. Equities research analysts forecast that Costco Wholesale Corporation will post 18.03 EPS for the current fiscal year.

Costco Wholesale Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Friday, August 1st will be paid a $1.30 dividend. The ex-dividend date of this dividend is Friday, August 1st. This represents a $5.20 dividend on an annualized basis and a yield of 0.5%. Costco Wholesale's payout ratio is presently 29.50%.

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.

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