Masso Torrence Wealth Management Inc. Acquires Shares of 413 Costco Wholesale Corporation (NASDAQ:COST)

Masso Torrence Wealth Management Inc. acquired a new stake in shares of Costco Wholesale Corporation (NASDAQ:COST - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 413 shares of the retailer's stock, valued at approximately $391,000.

Other institutional investors also recently added to or reduced their stakes in the company. Redmond Asset Management LLC acquired a new position in shares of Costco Wholesale in the 4th quarter worth approximately $1,214,000. May Barnhard Investments LLC acquired a new position in shares of Costco Wholesale in the 4th quarter worth approximately $485,000. Ironwood Wealth Management LLC. boosted its holdings in shares of Costco Wholesale by 0.6% in the 4th quarter. Ironwood Wealth Management LLC. now owns 3,852 shares of the retailer's stock worth $3,529,000 after acquiring an additional 22 shares in the last quarter. Brighton Jones LLC boosted its holdings in shares of Costco Wholesale by 12.3% in the 4th quarter. Brighton Jones LLC now owns 19,825 shares of the retailer's stock worth $18,165,000 after acquiring an additional 2,172 shares in the last quarter. Finally, Union Bancaire Privee UBP SA acquired a new position in shares of Costco Wholesale in the 4th quarter worth approximately $8,776,000. 68.48% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently commented on the company. JPMorgan Chase & Co. boosted their target price on Costco Wholesale from $1,065.00 to $1,070.00 and gave the stock an "overweight" rating in a report on Friday, March 7th. Evercore ISI reduced their target price on Costco Wholesale from $1,075.00 to $1,060.00 and set an "outperform" rating on the stock in a report on Tuesday, June 17th. Morgan Stanley boosted their target price on Costco Wholesale from $1,150.00 to $1,225.00 and gave the stock an "overweight" rating in a report on Friday, May 30th. Cfra Research raised Costco Wholesale from a "hold" rating to a "moderate buy" rating in a report on Friday, April 4th. Finally, Barclays upped their price objective on Costco Wholesale from $940.00 to $980.00 and gave the stock an "equal weight" rating in a report on Monday, March 10th. Nine equities research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. Based on data from MarketBeat.com, Costco Wholesale presently has an average rating of "Moderate Buy" and an average target price of $1,034.79.

Costco Wholesale Stock Performance

Shares of Costco Wholesale stock opened at $980.29 on Friday. 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 52 week low of $793.00 and a 52 week high of $1,078.24. The firm has a fifty day moving average of $1,002.94 and a two-hundred day moving average of $981.03. The stock has a market capitalization of $434.74 billion, a price-to-earnings ratio of 55.60, a PEG ratio of 5.79 and a beta of 1.00.

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 analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $62.93 billion. During the same quarter in the prior year, the company earned $3.78 EPS. The firm's quarterly revenue 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 EPS for the current year.

Costco Wholesale Increases Dividend

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

Insider Activity at Costco Wholesale

In related news, EVP James C. Klauer sold 4,000 shares of the company's stock in a transaction on Thursday, April 17th. The shares were sold at an average price of $981.07, for a total value of $3,924,280.00. Following the completion of the transaction, the executive vice president now directly owns 43,994 shares of the company's stock, valued at approximately $43,161,193.58. This represents a 8.33% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Susan L. Decker sold 547 shares of the company'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 completion of the transaction, the director now directly owns 11,531 shares of the company's stock, valued at approximately $11,300,380. The trade was a 4.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 11,547 shares of company stock worth $11,361,265 in the last quarter. Corporate insiders own 0.18% of the company's stock.

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.

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