Procyon Advisors LLC Has $5.35 Million Position in Costco Wholesale Co. (NASDAQ:COST)

Procyon Advisors LLC increased its position in Costco Wholesale Co. (NASDAQ:COST) by 7.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,106 shares of the retailer’s stock after buying an additional 569 shares during the quarter. Procyon Advisors LLC’s holdings in Costco Wholesale were worth $5,351,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also added to or reduced their stakes in the business. Richelieu Gestion SA acquired a new position in shares of Costco Wholesale during the fourth quarter worth $25,000. Sanctuary Wealth Management L.L.C. bought a new position in Costco Wholesale during the fourth quarter worth $26,000. Steph & Co. increased its position in Costco Wholesale by 42.3% in the 3rd quarter. Steph & Co. now owns 74 shares of the retailer’s stock valued at $42,000 after buying an additional 22 shares in the last quarter. Valued Wealth Advisors LLC acquired a new stake in Costco Wholesale in the fourth quarter valued at approximately $49,000. Finally, Iron Horse Wealth Management LLC increased its holdings in shares of Costco Wholesale by 888.9% during the third quarter. Iron Horse Wealth Management LLC now owns 89 shares of the retailer’s stock valued at $50,000 after acquiring an additional 80 shares in the last quarter. 68.48% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on COST. Citigroup lifted their price target on shares of Costco Wholesale from $585.00 to $630.00 and gave the company a “neutral” rating in a research report on Friday, December 15th. UBS Group upped their price target on Costco Wholesale from $640.00 to $725.00 and gave the stock a “buy” rating in a report on Friday, December 15th. Truist Financial boosted their target price on shares of Costco Wholesale from $693.00 to $741.00 and gave the company a “buy” rating in a research note on Thursday, December 21st. Tigress Financial raised their price target on shares of Costco Wholesale from $745.00 to $870.00 and gave the stock a “buy” rating in a research note on Friday, March 15th. Finally, Northcoast Research downgraded Costco Wholesale from a “buy” rating to a “neutral” rating and set a $620.00 price objective on the stock. in a research note on Wednesday, December 20th. Seven investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Costco Wholesale has an average rating of “Moderate Buy” and an average target price of $668.50.

Insider Activity

In other news, EVP Caton Frates sold 740 shares of the firm’s stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $683.50, for a total value of $505,790.00. Following the transaction, the executive vice president now directly owns 6,721 shares in the company, valued at approximately $4,593,803.50. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, VP Yoram Rubanenko sold 2,500 shares of the stock in a transaction on Thursday, January 18th. The shares were sold at an average price of $680.33, for a total value of $1,700,825.00. Following the completion of the sale, the vice president now directly owns 5,910 shares of the company’s stock, valued at $4,020,750.30. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Caton Frates sold 740 shares of the business’s stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $683.50, for a total value of $505,790.00. Following the completion of the transaction, the executive vice president now owns 6,721 shares in the company, valued at $4,593,803.50. The disclosure for this sale can be found here. Insiders have sold a total of 15,582 shares of company stock valued at $10,736,778 in the last 90 days. 0.18% of the stock is currently owned by insiders.

Costco Wholesale Trading Down 0.1 %

NASDAQ:COST traded down $0.92 during trading hours on Thursday, hitting $731.16. The company had a trading volume of 167,639 shares, compared to its average volume of 2,133,034. The stock has a 50-day moving average price of $723.33 and a 200 day moving average price of $641.98. Costco Wholesale Co. has a 52 week low of $476.75 and a 52 week high of $787.08. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.93 and a quick ratio of 0.43. The company has a market capitalization of $324.27 billion, a PE ratio of 47.82, a price-to-earnings-growth ratio of 5.07 and a beta of 0.77.

Costco Wholesale (NASDAQ:COST) last announced its earnings results on Thursday, March 7th. The retailer reported $3.71 EPS for the quarter, beating analysts’ consensus estimates of $3.62 by $0.09. The firm had revenue of $58.44 billion for the quarter, compared to analysts’ expectations of $59.11 billion. Costco Wholesale had a net margin of 2.73% and a return on equity of 28.80%. The company’s quarterly revenue was up 5.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.30 EPS. On average, equities research analysts predict that Costco Wholesale Co. will post 15.78 EPS for the current fiscal year.

Costco Wholesale Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 16th. Shareholders of record on Friday, February 2nd were given a $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a yield of 0.56%. The ex-dividend date was Thursday, February 1st. Costco Wholesale’s dividend payout ratio (DPR) is 26.68%.

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.