Fiduciary Family Office LLC Invests $1.81 Million in Costco Wholesale Corporation (NASDAQ:COST)

Key Points

• Fiduciary Family Office LLC has invested approximately $1.81 million in Costco Wholesale Corporation, acquiring 1,918 shares, which account for 0.6% of their portfolio.
• Costco recently reported an earnings per share of $4.28, surpassing expectations, and announced a quarterly dividend of $1.30 per share to be paid on August 15th.
• Analysts have adjusted price targets for Costco, with Morgan Stanley increasing its target from $1,150 to $1,225, rating the stock as "overweight."

Fiduciary Family Office LLC bought a new position in Costco Wholesale Corporation (NASDAQ:COST - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 1,918 shares of the retailer's stock, valued at approximately $1,814,000. Costco Wholesale accounts for 0.6% of Fiduciary Family Office LLC's portfolio, making the stock its 29th largest position.

Several other hedge funds also recently made changes to their positions in the company. Investment Management Corp VA ADV acquired a new stake in shares of Costco Wholesale in the fourth quarter valued at about $25,000. Aspect Partners LLC lifted its stake 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 period. Capital A Wealth Management LLC purchased a new position in Costco Wholesale during the 4th quarter valued at about $58,000. Mascagni Wealth Management Inc. purchased a new position in Costco Wholesale during the 4th quarter valued at about $59,000. Finally, Bank & Trust Co increased its holdings in Costco Wholesale by 20.4% during the 1st quarter. Bank & Trust Co now owns 65 shares of the retailer's stock valued at $61,000 after acquiring an additional 11 shares in the last quarter. Institutional investors and hedge funds own 68.48% of the company's stock.

Insider Activity

In related news, EVP Yoram Rubanenko sold 4,000 shares of the firm's stock in a transaction that occurred on 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 transaction, the executive vice president owned 5,774 shares of the company's stock, valued at approximately $5,629,419.04. This trade represents a 40.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Susan L. Decker sold 547 shares of the firm's stock in a transaction that occurred on Wednesday, June 18th. The shares were sold at an average price of $980.00, for a total transaction of $536,060.00. Following the transaction, the director directly owned 11,531 shares in the company, valued at approximately $11,300,380. The trade was a 4.53% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 9,547 shares of company stock valued at $9,472,510 over the last ninety days. Corporate insiders own 0.18% of the company's stock.

Costco Wholesale Stock Performance

Shares of COST opened at $980.98 on Friday. The firm has a 50-day moving average price of $977.93 and a 200 day moving average price of $984.85. The firm has a market capitalization of $435.05 billion, a PE ratio of 55.64, a P/E/G ratio of 6.08 and a beta of 0.96. The company has a quick ratio of 0.52, a current ratio of 1.02 and a debt-to-equity ratio of 0.21. Costco Wholesale Corporation has a 52-week low of $837.63 and a 52-week high of $1,078.23.

Costco Wholesale (NASDAQ:COST - Get Free Report) last posted its quarterly earnings data on Thursday, May 29th. The retailer reported $4.28 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $62.93 billion. During the same quarter last year, the firm posted $3.78 EPS. The business's revenue for the quarter was up 8.0% on a year-over-year basis. On average, sell-side analysts anticipate that Costco Wholesale Corporation will post 18.03 earnings per share 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 dividend of $1.30 per share. 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 dividend payout ratio is currently 29.50%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on COST shares. Morgan Stanley lifted their price target on shares of Costco Wholesale from $1,150.00 to $1,225.00 and gave the stock an "overweight" rating in a report on Friday, May 30th. Telsey Advisory Group reiterated an "outperform" rating and set a $1,100.00 price target on shares of Costco Wholesale in a report on Monday, August 4th. Evercore ISI lowered 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. Mizuho began 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. Finally, Wall Street Zen upgraded shares of Costco Wholesale from a "hold" rating to a "buy" rating in a report on Friday, June 6th. Ten equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $1,050.00.

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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