Core Wealth Partners LLC Grows Stake in Costco Wholesale Co. (NASDAQ:COST)

Core Wealth Partners LLC raised its position in shares of Costco Wholesale Co. (NASDAQ:COST) by 0.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,848 shares of the retailer’s stock after buying an additional 25 shares during the quarter. Costco Wholesale comprises 1.6% of Core Wealth Partners LLC’s portfolio, making the stock its 14th biggest holding. Core Wealth Partners LLC’s holdings in Costco Wholesale were worth $2,087,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in COST. Richelieu Gestion SA bought a new stake in shares of Costco Wholesale in the 4th quarter valued at approximately $25,000. Frank Rimerman Advisors LLC bought a new stake in shares of Costco Wholesale in the 4th quarter valued at approximately $26,000. Morton Brown Family Wealth LLC lifted its stake in shares of Costco Wholesale by 200.0% in the 4th quarter. Morton Brown Family Wealth LLC now owns 45 shares of the retailer’s stock valued at $30,000 after purchasing an additional 30 shares during the last quarter. Wetzel Investment Advisors Inc. bought a new stake in shares of Costco Wholesale in the 4th quarter valued at approximately $30,000. Finally, Redmont Wealth Advisors LLC bought a new stake in shares of Costco Wholesale during the 1st quarter worth approximately $32,000. Hedge funds and other institutional investors own 68.48% of the company’s stock.

Insider Buying and Selling

In related news, EVP Russell D. Miller sold 785 shares of the firm’s stock in a transaction dated Wednesday, April 17th. The shares were sold at an average price of $722.86, for a total value of $567,445.10. Following the completion of the sale, the executive vice president now owns 10,000 shares in the company, valued at $7,228,600. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 0.18% of the company’s stock.

Costco Wholesale Stock Up 0.4 %

NASDAQ:COST traded up $3.30 during trading hours on Thursday, hitting $862.66. The company’s stock had a trading volume of 814,423 shares, compared to its average volume of 1,709,054. The stock has a market capitalization of $382.44 billion, a P/E ratio of 53.45, a price-to-earnings-growth ratio of 5.68 and a beta of 0.78. The stock has a fifty day moving average of $810.06 and a 200-day moving average of $744.39. The company has a current ratio of 0.94, a quick ratio of 0.45 and a debt-to-equity ratio of 0.27. Costco Wholesale Co. has a 52-week low of $524.63 and a 52-week high of $873.96.

Costco Wholesale (NASDAQ:COST) last issued its quarterly earnings data on Thursday, May 30th. The retailer reported $3.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.70 by $0.08. The company had revenue of $58.52 billion for the quarter, compared to analyst estimates of $58.16 billion. Costco Wholesale had a return on equity of 30.02% and a net margin of 2.83%. The business’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same quarter last year, the company posted $3.43 earnings per share. On average, equities analysts forecast that Costco Wholesale Co. will post 15.98 earnings per share for the current year.

Costco Wholesale Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 10th. Investors of record on Friday, April 26th were issued a dividend of $1.16 per share. The ex-dividend date was Thursday, April 25th. This represents a $4.64 dividend on an annualized basis and a dividend yield of 0.54%. This is a positive change from Costco Wholesale’s previous quarterly dividend of $1.02. Costco Wholesale’s dividend payout ratio (DPR) is currently 28.75%.

Wall Street Analyst Weigh In

COST has been the subject of a number of research analyst reports. Loop Capital raised their price target on Costco Wholesale from $890.00 to $940.00 and gave the stock a “buy” rating in a research note on Friday, June 14th. Stifel Nicolaus raised their price target on Costco Wholesale from $850.00 to $900.00 and gave the stock a “buy” rating in a research note on Tuesday. TD Cowen raised their price objective on Costco Wholesale from $777.00 to $850.00 and gave the stock a “buy” rating in a report on Friday, May 31st. BMO Capital Markets restated an “outperform” rating and set a $875.00 price objective (up from $800.00) on shares of Costco Wholesale in a report on Friday, May 31st. Finally, Truist Financial raised their price objective on Costco Wholesale from $815.00 to $873.00 and gave the stock a “buy” rating in a report on Friday, May 31st. Seven research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $758.70.

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.