Pacific Point Advisors LLC Takes $2.06 Million Position in Costco Wholesale Co. (NASDAQ:COST)

Pacific Point Advisors LLC bought a new stake in Costco Wholesale Co. (NASDAQ:COST - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm bought 2,243 shares of the retailer's stock, valued at approximately $2,055,000. Costco Wholesale accounts for about 1.3% of Pacific Point Advisors LLC's holdings, making the stock its 13th biggest holding.

Other hedge funds have also recently bought and sold shares of the company. Investment Management Corp VA ADV bought a new stake in Costco Wholesale during the 4th quarter valued at $25,000. Synergy Investment Management LLC bought a new position in shares of Costco Wholesale in the fourth quarter worth approximately $31,000. NewSquare Capital LLC grew its position in 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. Endeavor Private Wealth Inc. bought a new position in shares of Costco Wholesale in the fourth quarter worth approximately $33,000. Finally, Collier Financial bought a new position in shares of Costco Wholesale in the fourth quarter worth approximately $35,000. 68.48% of the stock is owned by institutional investors.

Insider Activity at Costco Wholesale

In other news, EVP Gary Millerchip sold 1,100 shares of the firm's stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $940.01, for a total value of $1,034,011.00. Following the completion of the transaction, the executive vice president now directly owns 11,165 shares in the company, valued at $10,495,211.65. This trade represents a 8.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Claudine Adamo sold 900 shares of the firm's stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $922.56, for a total value of $830,304.00. Following the completion of the transaction, the executive vice president now owns 6,987 shares of the company's stock, valued at approximately $6,445,926.72. The trade was a 11.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 9,600 shares of company stock valued at $9,140,195 over the last quarter. 0.18% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on COST. DA Davidson raised their price target on Costco Wholesale from $900.00 to $1,000.00 and gave the stock a "neutral" rating in a research note on Thursday, February 6th. Barclays raised their price objective on Costco Wholesale from $940.00 to $980.00 and gave the company an "equal weight" rating in a research report on Monday, March 10th. Telsey Advisory Group reissued an "outperform" rating on shares of Costco Wholesale in a research report on Wednesday. Stifel Nicolaus lowered their price target on Costco Wholesale from $1,075.00 to $1,035.00 and set a "buy" rating for the company in a research report on Thursday, March 20th. Finally, Truist Financial lifted their price target on Costco Wholesale from $935.00 to $995.00 and gave the stock a "hold" rating in a research report on Friday, March 7th. Ten equities research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $1,024.03.

Costco Wholesale Stock Performance

COST stock opened at $1,018.13 on Friday. Costco Wholesale Co. has a twelve month low of $788.20 and a twelve month high of $1,078.24. The company has a quick ratio of 0.43, a current ratio of 0.98 and a debt-to-equity ratio of 0.23. The business's fifty day simple moving average is $971.00 and its two-hundred day simple moving average is $971.25. The firm has a market cap of $451.73 billion, a price-to-earnings ratio of 59.78, a PEG ratio of 6.15 and a beta of 1.00.

Costco Wholesale (NASDAQ:COST - Get Free Report) last posted its quarterly earnings results on Thursday, March 6th. The retailer reported $4.02 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $4.09 by ($0.07). Costco Wholesale had a return on equity of 32.31% and a net margin of 2.93%. The firm had revenue of $63.72 billion for the quarter, compared to the consensus estimate of $63.02 billion. Analysts predict that Costco Wholesale Co. will post 18.03 earnings per share for the current year.

Costco Wholesale Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 16th. Investors of record on Friday, May 2nd were given a dividend of $1.30 per share. The ex-dividend date was Friday, May 2nd. This represents a $5.20 dividend on an annualized basis and a yield of 0.51%. This is an increase from Costco Wholesale's previous quarterly dividend of $1.16. Costco Wholesale's dividend payout ratio (DPR) is presently 30.36%.

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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