Westbourne Investments Inc. Buys New Shares in Costco Wholesale Co. (NASDAQ:COST)

Westbourne Investments Inc. acquired 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 (SEC). The firm acquired 3,422 shares of the retailer's stock, valued at approximately $3,135,000. Costco Wholesale comprises approximately 1.8% of Westbourne Investments Inc.'s holdings, making the stock its 12th biggest position.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Parvin Asset Management LLC bought a new stake in Costco Wholesale during the fourth quarter worth $916,000. Headland Capital LLC bought a new stake in shares of Costco Wholesale in the 4th quarter worth $8,242,000. Guardian Capital LP raised its holdings in shares of Costco Wholesale by 0.8% in the fourth quarter. Guardian Capital LP now owns 53,015 shares of the retailer's stock valued at $48,576,000 after purchasing an additional 411 shares during the last quarter. Rehmann Capital Advisory Group lifted its position in shares of Costco Wholesale by 16.3% during the fourth quarter. Rehmann Capital Advisory Group now owns 7,553 shares of the retailer's stock valued at $6,921,000 after purchasing an additional 1,061 shares in the last quarter. Finally, Wick Capital Partners LLC boosted its holdings in Costco Wholesale by 15,965.8% during the fourth quarter. Wick Capital Partners LLC now owns 141,058 shares of the retailer's stock worth $129,247,000 after purchasing an additional 140,180 shares during the last quarter. 68.48% of the stock is owned by institutional investors.

Costco Wholesale Price Performance

Costco Wholesale stock traded up $9.26 during midday trading on Friday, reaching $1,008.30. 1,547,172 shares of the stock were exchanged, compared to its average volume of 2,034,516. The company's fifty day moving average is $961.44 and its 200-day moving average is $958.94. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.43 and a current ratio of 0.98. Costco Wholesale Co. has a 52 week low of $733.35 and a 52 week high of $1,078.24. The firm has a market cap of $447.37 billion, a PE ratio of 59.21, a PEG ratio of 6.15 and a beta of 0.95.

Costco Wholesale (NASDAQ:COST - Get Free Report) last issued its quarterly earnings data 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 business had revenue of $63.72 billion during the quarter, compared to analysts' expectations of $63.02 billion. 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 declared a quarterly dividend, which will be paid on Friday, May 16th. Stockholders of record on Friday, May 2nd will be given a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.52%. The ex-dividend date is Friday, May 2nd. This is an increase from Costco Wholesale's previous quarterly dividend of $1.16. Costco Wholesale's dividend payout ratio (DPR) is 30.36%.

Analysts Set New Price Targets

COST has been the topic of several recent analyst reports. Stifel Nicolaus dropped 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. Truist Financial lifted 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. Cowen restated a "buy" rating on shares of Costco Wholesale in a research note on Friday, March 7th. Barclays lifted their target price on Costco Wholesale from $940.00 to $980.00 and gave the stock an "equal weight" rating in a research note on Monday, March 10th. Finally, Evercore ISI increased their price target on shares of Costco Wholesale from $1,050.00 to $1,070.00 and gave the company an "outperform" rating in a research report on Tuesday, March 11th. Ten 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 price target of $1,024.03.

Insider Transactions at Costco Wholesale

In related news, EVP Claudine Adamo sold 900 shares of the company's stock in a transaction on Monday, March 24th. The shares were 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 directly owns 6,987 shares in the company, valued at approximately $6,445,926.72. The trade was a 11.41 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Roland Michael Vachris sold 3,600 shares of the firm's stock in a transaction dated 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 sale, the chief executive officer now owns 41,077 shares in the company, valued at $38,242,687. The trade was a 8.06 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 9,600 shares of company stock valued at $9,140,195. 0.18% of the stock is owned by corporate insiders.

Costco Wholesale Company 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.