Earned Wealth Advisors LLC Acquires 1,794 Shares of Costco Wholesale Corporation (NASDAQ:COST)

Key Points

• Earned Wealth Advisors LLC increased its investment in Costco Wholesale Corporation by 138%, acquiring an additional 1,794 shares, bringing its total ownership to 3,094 shares valued at approximately $2.93 million.
• Insider transactions include Pierre Riel, EVP, selling 2,000 shares and Susan L. Decker, Director, selling 547 shares, resulting in a decrease of 19.59% and 4.53% in their ownership, respectively.
• Costco's recent earnings report showed an EPS of $4.28, slightly above analysts' estimates, with a revenue growth of 8% year-over-year, alongside a declared quarterly dividend of $1.30 per share.

Earned Wealth Advisors LLC lifted its holdings in shares of Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 138.0% in the first quarter, according to its most recent filing with the SEC. The firm owned 3,094 shares of the retailer's stock after acquiring an additional 1,794 shares during the period. Costco Wholesale makes up about 0.6% of Earned Wealth Advisors LLC's investment portfolio, making the stock its 27th biggest position. Earned Wealth Advisors LLC's holdings in Costco Wholesale were worth $2,926,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in COST. Personal CFO Solutions LLC lifted its holdings in 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 during the last quarter. F&V Capital Management LLC bought a new position in Costco Wholesale during the 1st quarter valued at about $236,000. Graybill Wealth Management LTD. bought a new position in Costco Wholesale during the 1st quarter valued at about $3,095,000. Curat Global LLC bought a new position in Costco Wholesale during the 1st quarter valued at about $241,000. Finally, Gateway Wealth Partners LLC lifted its holdings in Costco Wholesale by 2.0% during the 1st quarter. Gateway Wealth Partners LLC now owns 1,380 shares of the retailer's stock valued at $1,305,000 after purchasing an additional 27 shares during the last quarter. 68.48% of the stock is owned by institutional investors.

Insider Activity

In other Costco Wholesale news, EVP Pierre Riel sold 2,000 shares of the company's stock in a transaction on Friday, June 6th. The shares were sold at an average price of $1,014.15, for a total transaction of $2,028,300.00. Following the sale, the executive vice president directly owned 8,210 shares of the company's stock, valued at approximately $8,326,171.50. This represents a 19.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Susan L. Decker sold 547 shares of the company's stock in a transaction 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 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. Over the last three months, insiders sold 9,547 shares of company stock valued at $9,472,510. 0.18% of the stock is owned by insiders.

Analysts Set New Price Targets

COST has been the subject of several analyst reports. Truist Financial lifted their price target 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. Morgan Stanley lifted their price target on shares of Costco Wholesale from $1,150.00 to $1,225.00 and gave the company an "overweight" rating in a report on Friday, May 30th. Mizuho initiated coverage on shares of Costco Wholesale in a report on Friday, April 11th. They set a "neutral" rating and a $975.00 price target for the company. Evercore ISI cut their price target on shares of Costco Wholesale from $1,075.00 to $1,060.00 and set an "outperform" rating for the company in a report on Tuesday, June 17th. Finally, Loop Capital dropped their target price on shares of Costco Wholesale from $1,115.00 to $1,110.00 and set a "buy" rating for the company in a research note on Thursday, May 29th. Nine investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $1,037.48.

Costco Wholesale Stock Performance

Shares of COST stock opened at $952.52 on Friday. The company's fifty day simple moving average is $983.34 and its 200-day simple moving average is $984.24. The company has a quick ratio of 0.52, a current ratio of 1.02 and a debt-to-equity ratio of 0.21. The firm has a market cap of $422.42 billion, a PE 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.

Costco Wholesale (NASDAQ:COST - Get Free Report) last announced its quarterly earnings data 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 business had revenue of $63.21 billion for the quarter, compared to analyst estimates of $62.93 billion. During the same quarter in the previous year, the firm posted $3.78 earnings per share. The firm's revenue for the quarter was up 8.0% on a year-over-year basis. Equities research analysts expect that Costco Wholesale Corporation will post 18.03 EPS for the current fiscal year.

Costco Wholesale Dividend Announcement

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

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.

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