Geneos Wealth Management Inc. Buys 4,466 Shares of Costco Wholesale Corporation (NASDAQ:COST)

Key Points

• Geneos Wealth Management Inc. increased its holdings in Costco Wholesale by 44.3% during Q1, owning a total of 14,536 shares valued at approximately $13.75 million.
• Costco is set to pay a quarterly dividend of $1.30 on August 15, 2023, which amounts to an annualized dividend of $5.20 with a yield of 0.56%.
• Analysts maintain a majority "buy" rating for Costco, with a current average target price of $1,037.48 based on a recent uptick in performance metrics and positive earnings results.

Geneos Wealth Management Inc. boosted its holdings in shares of Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 44.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,536 shares of the retailer's stock after buying an additional 4,466 shares during the quarter. Geneos Wealth Management Inc.'s holdings in Costco Wholesale were worth $13,747,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the business. 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 grew its position 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 last quarter. Capital A Wealth Management LLC acquired a new stake in shares of Costco Wholesale in the fourth quarter valued at about $58,000. Mascagni Wealth Management Inc. acquired a new stake in shares of Costco Wholesale in the fourth quarter valued at about $59,000. Finally, Bank & Trust Co lifted its stake in shares of Costco Wholesale by 20.4% in the first quarter. Bank & Trust Co now owns 65 shares of the retailer's stock valued at $61,000 after buying an additional 11 shares during the period. 68.48% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Yoram Rubanenko sold 4,000 shares of the business's stock in a transaction on Monday, July 14th. The shares were sold at an average price of $974.96, for a total value of $3,899,840.00. Following the completion of the transaction, the executive vice president owned 5,774 shares of the company's stock, valued at $5,629,419.04. The trade was a 40.92% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Patrick J. Callans sold 3,000 shares of the business's stock in a transaction on Monday, June 9th. The shares were sold at an average price of $1,002.77, for a total transaction of $3,008,310.00. Following the completion of the transaction, the executive vice president directly owned 58,543 shares of the company's stock, valued at $58,705,164.11. This trade represents a 4.87% decrease in their position. The disclosure for this sale can be found here. Insiders sold 9,547 shares of company stock worth $9,472,510 over the last quarter. Corporate insiders own 0.18% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Morgan Stanley increased their target price on shares of 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. Telsey Advisory Group reiterated an "outperform" rating and issued a $1,100.00 target price on shares of Costco Wholesale in a research note on Thursday, July 10th. Mizuho initiated coverage on shares of Costco Wholesale in a research note on Friday, April 11th. They issued a "neutral" rating and a $975.00 target price 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 research note on Tuesday, June 17th. Finally, Wall Street Zen upgraded shares of Costco Wholesale from a "hold" rating to a "buy" rating in a research note on Friday, June 6th. Nine equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company's stock. According to MarketBeat.com, Costco Wholesale has an average rating of "Moderate Buy" and a consensus price target of $1,037.48.

Costco Wholesale Trading Up 1.6%

Shares of Costco Wholesale stock traded up $14.65 on Friday, hitting $952.99. 1,952,063 shares of the company's stock traded hands, compared to its average volume of 2,210,222. The firm's 50-day moving average price is $984.46 and its two-hundred day moving average price is $983.58. The stock has a market capitalization of $422.63 billion, a PE ratio of 54.06, a price-to-earnings-growth ratio of 5.77 and a beta of 0.97. Costco Wholesale Corporation has a one year low of $793.00 and a one year high of $1,078.23. 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 (NASDAQ:COST - Get Free Report) last issued its earnings results on Thursday, May 29th. The retailer reported $4.28 EPS for the quarter, beating the consensus estimate of $4.24 by $0.04. The company had revenue of $63.21 billion during the quarter, compared to analysts' expectations of $62.93 billion. Costco Wholesale had a net margin of 2.92% and a return on equity of 30.48%. The business's revenue for the quarter was up 8.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.78 EPS. On average, 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. Stockholders of record on Friday, August 1st will be issued a $1.30 dividend. The ex-dividend date of this dividend is Friday, August 1st. This represents a $5.20 annualized dividend and a dividend yield of 0.5%. Costco Wholesale's payout ratio 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.