Turtle Creek Wealth Advisors LLC Takes $9.22 Million Position in Costco Wholesale Corporation (NASDAQ:COST)

Turtle Creek Wealth Advisors LLC bought a new stake in shares of Costco Wholesale Corporation (NASDAQ:COST - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 9,753 shares of the retailer's stock, valued at approximately $9,224,000. Costco Wholesale makes up 1.4% of Turtle Creek Wealth Advisors LLC's holdings, making the stock its 18th biggest position.

Several other large investors have also bought and sold shares of the company. Clear Investment Research LLC raised its position in shares of Costco Wholesale by 22.2% in the 4th quarter. Clear Investment Research LLC now owns 55 shares of the retailer's stock worth $51,000 after acquiring an additional 10 shares in the last quarter. Peninsula Wealth LLC raised its position in shares of Costco Wholesale by 1.2% in the 4th quarter. Peninsula Wealth LLC now owns 818 shares of the retailer's stock worth $749,000 after acquiring an additional 10 shares in the last quarter. Bosun Asset Management LLC raised its position in shares of Costco Wholesale by 1.6% in the 4th quarter. Bosun Asset Management LLC now owns 636 shares of the retailer's stock worth $583,000 after acquiring an additional 10 shares in the last quarter. NFP Retirement Inc. raised its position in shares of Costco Wholesale by 1.1% in the 4th quarter. NFP Retirement Inc. now owns 980 shares of the retailer's stock worth $898,000 after acquiring an additional 11 shares in the last quarter. Finally, Coppell Advisory Solutions LLC raised its position in shares of Costco Wholesale by 0.3% in the 4th quarter. Coppell Advisory Solutions LLC now owns 3,437 shares of the retailer's stock worth $3,163,000 after acquiring an additional 11 shares in the last quarter. Institutional investors own 68.48% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on COST. Loop Capital lowered their price objective on Costco Wholesale from $1,115.00 to $1,110.00 and set a "buy" rating for the company in a research report on Thursday, May 29th. Truist Financial lifted their price objective on Costco Wholesale from $995.00 to $1,042.00 and gave the stock a "hold" rating in a research report on Friday, May 30th. Telsey Advisory Group reissued an "outperform" rating and issued a $1,100.00 price objective on shares of Costco Wholesale in a research report on Thursday, July 10th. Wall Street Zen upgraded Costco Wholesale from a "hold" rating to a "buy" rating in a research note on Friday, June 6th. Finally, Morgan Stanley raised their target price on 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. Nine research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $1,037.48.

Insider Activity

In related news, EVP Patrick J. Callans sold 3,000 shares of Costco Wholesale stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $1,002.77, for a total value of $3,008,310.00. Following the sale, the executive vice president directly owned 58,543 shares in the company, valued at $58,705,164.11. This trade represents a 4.87% decrease in their position. 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 business's stock in a transaction dated Monday, July 14th. The stock was sold at an average price of $974.96, for a total transaction of $3,899,840.00. Following the sale, the executive vice president owned 5,774 shares in the company, valued at $5,629,419.04. This trade represents a 40.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 9,547 shares of company stock valued at $9,472,510. 0.18% of the stock is owned by company insiders.

Costco Wholesale Stock Up 0.3%

COST stock traded up $2.54 during mid-day trading on Thursday, hitting $953.91. 2,276,972 shares of the company were exchanged, compared to its average volume of 2,067,965. The company has a market capitalization of $423.04 billion, a PE ratio of 54.11, a price-to-earnings-growth ratio of 5.91 and a beta of 0.97. The company has a current ratio of 1.02, a quick ratio of 0.52 and a debt-to-equity ratio of 0.21. Costco Wholesale Corporation has a twelve month low of $793.00 and a twelve month high of $1,078.24. The firm has a fifty day simple moving average of $1,000.06 and a 200 day simple moving average of $982.43.

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 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 company had revenue of $63.21 billion during the quarter, compared to analyst estimates of $62.93 billion. During the same period last year, the business earned $3.78 EPS. The firm's revenue for the quarter was up 8.0% compared to the same quarter last year. On average, research analysts forecast that Costco Wholesale Corporation will post 18.03 earnings per share for the current fiscal year.

Costco Wholesale Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Friday, August 1st will be given a $1.30 dividend. The ex-dividend date is Friday, August 1st. This represents a $5.20 annualized dividend and a yield of 0.55%. Costco Wholesale's dividend payout ratio is presently 29.50%.

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.