KG&L Capital Management LLC Makes New Investment in Costco Wholesale Corporation (NASDAQ:COST)

KG&L Capital Management LLC acquired a new stake in shares of Costco Wholesale Corporation (NASDAQ:COST - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 964 shares of the retailer's stock, valued at approximately $912,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Investment Management Corp VA ADV bought a new position in shares of Costco Wholesale during the fourth quarter valued at about $25,000. Synergy Investment Management LLC bought a new position in shares of Costco Wholesale during the fourth quarter valued at about $31,000. NewSquare Capital LLC raised its stake in shares of Costco Wholesale by 250.0% during the fourth quarter. NewSquare Capital LLC now owns 35 shares of the retailer's stock valued at $32,000 after acquiring an additional 25 shares during the last quarter. Clear Investment Research LLC raised its stake in shares of Costco Wholesale by 22.2% during the fourth quarter. Clear Investment Research LLC now owns 55 shares of the retailer's stock valued at $51,000 after acquiring an additional 10 shares during the last quarter. Finally, Capital A Wealth Management LLC bought a new position in shares of Costco Wholesale during the fourth quarter valued at about $58,000. 68.48% of the stock is owned by institutional investors.

Insider Activity

In other news, Director Susan L. Decker sold 547 shares of the 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 sale, the director now owns 11,531 shares in the company, valued at $11,300,380. This represents a 4.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Patrick J. Callans sold 3,000 shares of the stock in a transaction that occurred 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 sale, the executive vice president now owns 58,543 shares in the company, valued at approximately $58,705,164.11. The trade was a 4.87% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 9,547 shares of company stock worth $9,496,950 over the last 90 days. 0.18% of the stock is currently owned by insiders.

Costco Wholesale Price Performance

Shares of COST opened at $982.91 on Friday. The stock has a market cap of $435.90 billion, a PE ratio of 55.75, a price-to-earnings-growth ratio of 5.83 and a beta of 1.00. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.52 and a current ratio of 1.02. Costco Wholesale Corporation has a fifty-two week low of $793.00 and a fifty-two week high of $1,078.24. The firm's 50-day simple moving average is $1,004.08 and its two-hundred day simple moving average is $981.26.

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 for the quarter, topping analysts' consensus estimates of $4.24 by $0.04. The business had revenue of $63.21 billion for 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 was up 8.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.78 earnings per share. Analysts anticipate that Costco Wholesale Corporation will post 18.03 earnings per share for the current fiscal year.

Costco Wholesale Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 16th. Stockholders of record on Friday, May 2nd were issued a dividend of $1.30 per share. This is a boost from Costco Wholesale's previous quarterly dividend of $1.16. The ex-dividend date was Friday, May 2nd. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.53%. Costco Wholesale's dividend payout ratio is presently 29.50%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on COST. Sanford C. Bernstein reaffirmed an "outperform" rating on shares of Costco Wholesale in a research note on Friday, March 7th. Morgan Stanley upped their price objective 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. Truist Financial upped their price objective on shares of Costco Wholesale from $995.00 to $1,042.00 and gave the company a "hold" rating in a research note on Friday, May 30th. Barclays increased their price target on shares of Costco Wholesale from $940.00 to $980.00 and gave the stock an "equal weight" rating in a research note on Monday, March 10th. Finally, Loop Capital decreased their price target 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-one have assigned a buy rating to the stock. According to MarketBeat.com, Costco Wholesale has an average rating of "Moderate Buy" and a consensus target price of $1,034.79.

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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