Global Retirement Partners LLC Has $17.01 Million Holdings in Costco Wholesale Corporation $COST

Key Points

• Global Retirement Partners LLC increased its Costco stake by 24.1% in the fourth quarter, ending with 19,726 shares valued at about $17.01 million.
• Analysts remain bullish on Costco, with several firms raising price targets; MarketBeat says the stock currently carries a Moderate Buy consensus and an average target of $1,052.60.
• Costco reported strong quarterly results, topping EPS and revenue estimates, and also raised its quarterly dividend to $1.47 per share from $1.30.

Global Retirement Partners LLC increased its holdings in shares of Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 24.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 19,726 shares of the retailer's stock after buying an additional 3,831 shares during the quarter. Global Retirement Partners LLC's holdings in Costco Wholesale were worth $17,010,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in COST. Hurley Capital LLC boosted its holdings in shares of Costco Wholesale by 120.0% in the third quarter. Hurley Capital LLC now owns 33 shares of the retailer's stock valued at $31,000 after buying an additional 18 shares during the period. Entrust Financial LLC acquired a new position in shares of Costco Wholesale in the fourth quarter valued at approximately $31,000. Abich Financial Wealth Management LLC acquired a new position in shares of Costco Wholesale in the third quarter valued at approximately $34,000. Collier Financial acquired a new position in shares of Costco Wholesale in the third quarter valued at approximately $35,000. Finally, Joseph Group Capital Management acquired a new position in shares of Costco Wholesale in the fourth quarter valued at approximately $33,000. Institutional investors and hedge funds own 68.48% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Robert W. Baird set a $1,100.00 price target on shares of Costco Wholesale in a report on Thursday, February 5th. Raymond James Financial upped their price target on shares of Costco Wholesale from $1,000.00 to $1,100.00 and gave the company an "outperform" rating in a report on Friday, March 6th. Oppenheimer upped their price target on shares of Costco Wholesale from $1,100.00 to $1,160.00 and gave the company an "outperform" rating in a report on Tuesday. Bank of America assumed coverage on shares of Costco Wholesale in a report on Friday, February 27th. They issued a "buy" rating and a $1,185.00 price target for the company. Finally, BMO Capital Markets upped their price target on shares of Costco Wholesale from $1,175.00 to $1,315.00 and gave the company an "outperform" rating in a report on Friday, March 6th. Twenty-two equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Costco Wholesale presently has an average rating of "Moderate Buy" and a consensus target price of $1,052.60.

Insider Activity at Costco Wholesale

In other news, EVP Claudine Adamo sold 730 shares of the business's stock in a transaction on Monday, March 9th. The shares were sold at an average price of $1,003.02, for a total value of $732,204.60. Following the sale, the executive vice president owned 6,121 shares of the company's stock, valued at $6,139,485.42. The trade was a 10.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.10% of the stock is currently owned by corporate insiders.

Costco Wholesale News Roundup

Here are the key news stories impacting Costco Wholesale this week:

• Positive Sentiment: UBS raised its price target on Costco to $1,275 from $1,205 and reiterated a buy rating, reinforcing the view that the stock still has upside after its strong rally. Benzinga: Costco Wholesale had its price target raised by UBS Group AG from $1,205.00 to $1,275.00
• Positive Sentiment: Higher gas prices may be driving more traffic to Costco’s warehouse clubs as shoppers seek discounted fuel, which could support membership visits and sales. Benzinga: Higher Gas Prices Have Consumers Visiting Costco, Sam's Club More
• Positive Sentiment: Analysts remain upbeat ahead of Q3, with UBS and other commentators saying Costco should post another strong update despite macro pressures, helped by stable renewal rates and resilient demand. Yahoo Finance: Costco Expected to Deliver Strong Q3 Results Despite Macro Pressures, UBS Says

Costco Wholesale Stock Performance

Shares of COST stock opened at $1,074.01 on Thursday. The company's fifty day simple moving average is $1,006.08 and its 200-day simple moving average is $958.67. The company has a quick ratio of 0.59, a current ratio of 1.06 and a debt-to-equity ratio of 0.18. The firm has a market cap of $476.48 billion, a PE ratio of 55.85, a P/E/G ratio of 5.38 and a beta of 0.92. Costco Wholesale Corporation has a 12 month low of $844.06 and a 12 month high of $1,096.50.

Costco Wholesale (NASDAQ:COST - Get Free Report) last announced its quarterly earnings data on Wednesday, March 11th. The retailer reported $4.58 EPS for the quarter, topping analysts' consensus estimates of $4.55 by $0.03. The business had revenue of $69.60 billion for the quarter, compared to analyst estimates of $68.96 billion. Costco Wholesale had a net margin of 2.99% and a return on equity of 28.57%. The firm's revenue for the quarter was up 9.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.02 earnings per share. Equities research analysts expect that Costco Wholesale Corporation will post 20.33 EPS for the current fiscal year.

Costco Wholesale Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Friday, May 1st were given a $1.47 dividend. This is a boost from Costco Wholesale's previous quarterly dividend of $1.30. This represents a $5.88 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend was Friday, May 1st. Costco Wholesale's payout ratio is presently 30.58%.

About Costco Wholesale

Costco Wholesale Corporation operates a global chain of membership-only warehouse clubs that sell a wide array of merchandise in bulk at discounted prices. The company's product mix includes groceries, fresh and frozen food, household goods, electronics, apparel, and seasonal items, augmented by its prominent private-label brand, Kirkland Signature. Costco's business model centers on annual membership fees and high-volume, low-margin sales, designed to drive repeat purchasing and strong customer loyalty among both consumers and small-business buyers.

Beyond merchandise, Costco provides a range of ancillary services that complement its warehouses, including gasoline stations, pharmacy and optical services, hearing aid centers, photo services, and travel and insurance products.

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