Destiny Wealth Partners LLC increased its holdings in Costco Wholesale Co. (NASDAQ:COST – Get Rating) by 132.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 65 shares of the retailer’s stock after purchasing an additional 37 shares during the quarter. Destiny Wealth Partners LLC’s holdings in Costco Wholesale were worth $30,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also added to or reduced their stakes in COST. Cowa LLC acquired a new stake in shares of Costco Wholesale during the 3rd quarter valued at $26,000. Moisand Fitzgerald Tamayo LLC boosted its position in shares of Costco Wholesale by 1,050.0% in the 3rd quarter. Moisand Fitzgerald Tamayo LLC now owns 69 shares of the retailer’s stock valued at $33,000 after purchasing an additional 63 shares during the period. Newfound Research LLC purchased a new position in Costco Wholesale in the 3rd quarter worth about $40,000. Focused Wealth Management Inc lifted its stake in Costco Wholesale by 275.0% during the fourth quarter. Focused Wealth Management Inc now owns 90 shares of the retailer’s stock valued at $41,000 after buying an additional 66 shares in the last quarter. Finally, Piershale Financial Group Inc. purchased a new stake in Costco Wholesale during the fourth quarter valued at about $46,000. 66.03% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several equities research analysts recently commented on the stock. Tigress Financial reduced their price target on shares of Costco Wholesale from $678.00 to $635.00 and set a “buy” rating for the company in a research report on Wednesday, December 21st. Morgan Stanley decreased their target price on Costco Wholesale from $525.00 to $520.00 and set an “overweight” rating for the company in a research report on Friday, March 3rd. TheStreet raised Costco Wholesale from a “c” rating to a “b” rating in a research report on Thursday, March 23rd. Northcoast Research upgraded Costco Wholesale from a “neutral” rating to a “buy” rating and set a $560.00 price objective for the company in a research report on Tuesday, March 7th. Finally, StockNews.com upgraded Costco Wholesale from a “hold” rating to a “buy” rating in a report on Friday, March 10th. Five research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to MarketBeat, Costco Wholesale currently has a consensus rating of “Moderate Buy” and a consensus price target of $549.52.
Costco Wholesale Trading Down 2.2 %
Costco Wholesale (NASDAQ:COST – Get Rating) last released its earnings results on Thursday, March 2nd. The retailer reported $3.30 earnings per share for the quarter, topping analysts’ consensus estimates of $3.20 by $0.10. Costco Wholesale had a net margin of 2.58% and a return on equity of 28.66%. The firm had revenue of $55.27 billion during the quarter, compared to analyst estimates of $55.61 billion. During the same quarter in the previous year, the business earned $2.92 EPS. The business’s revenue was up 6.5% on a year-over-year basis. Equities analysts anticipate that Costco Wholesale Co. will post 14.4 EPS for the current year.
Costco Wholesale Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Friday, February 17th. Investors of record on Friday, February 3rd were paid a dividend of $0.90 per share. The ex-dividend date of this dividend was Thursday, February 2nd. This represents a $3.60 annualized dividend and a yield of 0.74%. Costco Wholesale’s payout ratio is 26.45%.
Insider Buying and Selling at Costco Wholesale
In other news, CFO Richard A. Galanti sold 2,068 shares of the stock in a transaction that occurred on Tuesday, March 14th. The stock was sold at an average price of $483.32, for a total value of $999,505.76. Following the completion of the sale, the chief financial officer now directly owns 25,350 shares of the company’s stock, valued at $12,252,162. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, EVP Russell D. Miller sold 1,500 shares of Costco Wholesale stock in a transaction dated Tuesday, March 7th. The stock was sold at an average price of $488.95, for a total transaction of $733,425.00. Following the sale, the executive vice president now directly owns 10,093 shares of the company’s stock, valued at $4,934,972.35. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Richard A. Galanti sold 2,068 shares of the company’s stock in a transaction that occurred on Tuesday, March 14th. The shares were sold at an average price of $483.32, for a total value of $999,505.76. Following the completion of the transaction, the chief financial officer now directly owns 25,350 shares of the company’s stock, valued at approximately $12,252,162. The disclosure for this sale can be found here. Insiders have sold 6,068 shares of company stock valued at $2,992,156 in the last 90 days. 0.22% of the stock is currently owned by insiders.
Costco Wholesale Company Profile
Costco Wholesale Corp. engages in the operation of membership warehouses through wholly owned subsidiaries. It operates through the following geographical segments: United States, Canada, and Other International Operations. The company was founded by James D. Sinegal and Jeffrey H. Brotman in 1983 and is headquartered in Issaquah, WA.
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