Kingsman Wealth Management Inc. Acquires Shares of 8,096 Costco Wholesale Corporation (NASDAQ:COST)

Kingsman Wealth Management Inc. bought a new stake in shares of Costco Wholesale Corporation (NASDAQ:COST - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 8,096 shares of the retailer's stock, valued at approximately $7,657,000. Costco Wholesale comprises approximately 5.6% of Kingsman Wealth Management Inc.'s investment portfolio, making the stock its 6th biggest holding.

Other hedge funds have also recently made changes to their positions in the company. Wealth Dimensions Group Ltd. raised its position in Costco Wholesale by 7.9% in the first quarter. Wealth Dimensions Group Ltd. now owns 409 shares of the retailer's stock valued at $387,000 after purchasing an additional 30 shares during the period. Arcadia Wealth Management LLC acquired a new stake in shares of Costco Wholesale in the 1st quarter valued at about $285,000. Peregrine Asset Advisers Inc. boosted its position in shares of Costco Wholesale by 1.2% in the 1st quarter. Peregrine Asset Advisers Inc. now owns 2,565 shares of the retailer's stock valued at $2,426,000 after purchasing an additional 31 shares during the period. Treasure Coast Financial Planning acquired a new stake in shares of Costco Wholesale in the 1st quarter valued at about $257,000. Finally, West Wealth Group LLC boosted its position in shares of Costco Wholesale by 15.7% in the 1st quarter. West Wealth Group LLC now owns 789 shares of the retailer's stock valued at $754,000 after purchasing an additional 107 shares during the period. 68.48% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Costco Wholesale

In related news, Director Susan L. Decker sold 547 shares of the firm'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 transaction, 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Yoram Rubanenko sold 4,000 shares of the firm'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 sale, the executive vice president owned 5,774 shares in the company, valued at $5,629,419.04. The trade was a 40.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 9,547 shares of company stock valued at $9,472,510 over the last 90 days. 0.18% of the stock is currently owned by corporate insiders.

Costco Wholesale Price Performance

Shares of COST stock traded down $3.39 on Monday, hitting $947.56. 1,741,015 shares of the stock traded hands, compared to its average volume of 2,066,154. The firm has a market cap of $420.22 billion, a price-to-earnings ratio of 53.75, a PEG ratio of 5.91 and a beta of 0.97. Costco Wholesale Corporation has a 52 week low of $793.00 and a 52 week high of $1,078.24. The firm has a 50 day simple moving average of $998.91 and a two-hundred day simple moving average of $983.64. 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 released its quarterly earnings data on Thursday, May 29th. The retailer reported $4.28 EPS 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 business had revenue of $63.21 billion for the quarter, compared to the consensus estimate of $62.93 billion. During the same period in the prior year, the firm earned $3.78 EPS. The business's revenue for the quarter was up 8.0% on a year-over-year basis. As a group, equities research analysts predict that Costco Wholesale Corporation will post 18.03 earnings per share for the current fiscal year.

Costco Wholesale Dividend Announcement

The business also recently announced 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. The ex-dividend date is Friday, August 1st. This represents a $5.20 annualized dividend and a dividend yield of 0.55%. Costco Wholesale's payout ratio is currently 29.50%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on COST shares. Mizuho began coverage on shares of Costco Wholesale in a report on Friday, April 11th. They set a "neutral" rating and a $975.00 target price on the stock. Cfra Research upgraded shares of Costco Wholesale from a "hold" rating to a "moderate buy" rating in a research report on Friday, April 4th. Morgan Stanley boosted 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 research note on Friday, May 30th. 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, Truist Financial raised their price target 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. Nine analysts have rated the stock with a hold rating and twenty have given a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $1,037.48.

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.