Strategic Global Advisors LLC Makes New $6.98 Million Investment in Costco Wholesale Co. (NASDAQ:COST)

Strategic Global Advisors LLC bought a new stake in shares of Costco Wholesale Co. (NASDAQ:COST - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 7,614 shares of the retailer's stock, valued at approximately $6,976,000. Costco Wholesale accounts for approximately 1.3% of Strategic Global Advisors LLC's portfolio, making the stock its 23rd biggest holding.

Several other large investors also recently modified their holdings of the stock. Norges Bank bought a new position in Costco Wholesale in the 4th quarter valued at about $5,182,316,000. Proficio Capital Partners LLC increased its stake in Costco Wholesale by 74,796.3% in the fourth quarter. Proficio Capital Partners LLC now owns 1,521,893 shares of the retailer's stock valued at $1,394,465,000 after acquiring an additional 1,519,861 shares during the last quarter. Leigh Baldwin & CO. LLC acquired a new position in Costco Wholesale during the fourth quarter valued at approximately $95,452,000. Strategic Financial Concepts LLC lifted its stake in Costco Wholesale by 100,422.3% during the fourth quarter. Strategic Financial Concepts LLC now owns 796,137 shares of the retailer's stock worth $729,476,000 after purchasing an additional 795,345 shares during the last quarter. Finally, Northern Trust Corp lifted its stake in Costco Wholesale by 12.6% during the fourth quarter. Northern Trust Corp now owns 5,257,809 shares of the retailer's stock worth $4,817,573,000 after purchasing an additional 587,303 shares during the last quarter. 68.48% of the stock is owned by institutional investors and hedge funds.

Costco Wholesale Price Performance

Shares of NASDAQ COST opened at $1,025.83 on Friday. The company has a market capitalization of $455.14 billion, a PE ratio of 60.24, a P/E/G ratio of 6.15 and a beta of 1.00. The company has a quick ratio of 0.43, a current ratio of 0.98 and a debt-to-equity ratio of 0.23. Costco Wholesale Co. has a twelve month low of $788.20 and a twelve month high of $1,078.24. The firm has a fifty day simple moving average of $961.47 and a 200 day simple moving average of $967.73.

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

Costco Wholesale Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 16th. Shareholders of record on Friday, May 2nd were issued a $1.30 dividend. This is an increase from Costco Wholesale's previous quarterly dividend of $1.16. This represents a $5.20 dividend on an annualized basis and a yield of 0.51%. The ex-dividend date of this dividend was Friday, May 2nd. Costco Wholesale's payout ratio is presently 30.36%.

Insider Buying and Selling at Costco Wholesale

In related news, EVP Claudine Adamo sold 900 shares of the company's stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $922.56, for a total transaction of $830,304.00. Following the transaction, the executive vice president now directly owns 6,987 shares of the company's stock, valued at approximately $6,445,926.72. This represents a 11.41% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Roland Michael Vachris sold 3,600 shares of the firm's stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $931.00, for a total value of $3,351,600.00. Following the completion of the sale, the chief executive officer now directly owns 41,077 shares of the company's stock, valued at $38,242,687. This trade represents a 8.06% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 9,600 shares of company stock valued at $9,140,195. 0.18% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research firms have recently commented on COST. Truist Financial boosted their price target on Costco Wholesale from $935.00 to $995.00 and gave the stock a "hold" rating in a report on Friday, March 7th. Mizuho initiated coverage on shares of Costco Wholesale in a report on Friday, April 11th. They issued a "neutral" rating and a $975.00 target price for the company. Loop Capital decreased their price target on shares of Costco Wholesale from $1,150.00 to $1,045.00 and set a "buy" rating on the stock in a report on Wednesday, April 9th. JPMorgan Chase & Co. upped their price objective on shares of Costco Wholesale from $1,065.00 to $1,070.00 and gave the stock an "overweight" rating in a research report on Friday, March 7th. Finally, Stifel Nicolaus cut their target price on shares of Costco Wholesale from $1,075.00 to $1,035.00 and set a "buy" rating on the stock in a research report on Thursday, March 20th. Ten analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $1,024.03.

Costco Wholesale 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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