Silverlake Wealth Management LLC Acquires New Shares in Costco Wholesale Co. (NASDAQ:COST)

Posted by on Jun 15th, 2023

Silverlake Wealth Management LLC acquired a new stake in Costco Wholesale Co. (NASDAQ:COST – Get Rating) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 1,547 shares of the retailer’s stock, valued at approximately $706,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Sanctuary Wealth Management L.L.C. bought a new position in Costco Wholesale in the 4th quarter valued at approximately $26,000. Destiny Wealth Partners LLC lifted its position in Costco Wholesale by 132.1% in the 4th quarter. Destiny Wealth Partners LLC now owns 65 shares of the retailer’s stock valued at $30,000 after acquiring an additional 37 shares in the last quarter. Focused Wealth Management Inc lifted its holdings in shares of Costco Wholesale by 275.0% during the 4th quarter. Focused Wealth Management Inc now owns 90 shares of the retailer’s stock valued at $41,000 after buying an additional 66 shares during the period. Piershale Financial Group Inc. bought a new position in shares of Costco Wholesale during the 4th quarter valued at $46,000. Finally, Global Wealth Strategies & Associates bought a new position in shares of Costco Wholesale during the 4th quarter valued at $49,000. 66.03% of the stock is owned by institutional investors.

Costco Wholesale Stock Up 1.0 %

Shares of NASDAQ:COST opened at $527.20 on Thursday. The company has a current ratio of 1.08, a quick ratio of 0.57 and a debt-to-equity ratio of 0.28. Costco Wholesale Co. has a 12 month low of $443.20 and a 12 month high of $564.75. The company has a 50-day moving average price of $501.51 and a 200 day moving average price of $492.38. The company has a market cap of $233.60 billion, a price-to-earnings ratio of 39.05, a PEG ratio of 4.36 and a beta of 0.79.

Costco Wholesale (NASDAQ:COST – Get Rating) last announced its quarterly earnings results on Thursday, May 25th. The retailer reported $3.43 EPS for the quarter, beating analysts’ consensus estimates of $3.32 by $0.11. Costco Wholesale had a net margin of 2.55% and a return on equity of 28.18%. The firm had revenue of $53.65 billion during the quarter, compared to the consensus estimate of $54.58 billion. During the same quarter last year, the firm earned $3.17 EPS. The firm’s revenue for the quarter was up 2.0% compared to the same quarter last year. As a group, equities research analysts predict that Costco Wholesale Co. will post 14.4 earnings per share for the current year.

Costco Wholesale Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 19th. Shareholders of record on Friday, May 5th were paid a $1.02 dividend. The ex-dividend date was Thursday, May 4th. This represents a $4.08 annualized dividend and a yield of 0.77%. This is an increase from Costco Wholesale’s previous quarterly dividend of $0.90. Costco Wholesale’s dividend payout ratio (DPR) is presently 30.22%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. TheStreet raised Costco Wholesale from a “c” rating to a “b” rating in a report on Thursday, March 23rd. Deutsche Bank Aktiengesellschaft lowered their price target on Costco Wholesale from $575.00 to $574.00 in a report on Thursday, April 6th. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $540.00 target price on shares of Costco Wholesale in a report on Thursday, April 6th. Loop Capital raised their target price on Costco Wholesale from $545.00 to $570.00 in a report on Friday, June 2nd. Finally, Roth Capital reaffirmed a “neutral” rating on shares of Costco Wholesale in a report on Friday, March 10th. Five research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $548.72.

Insiders Place Their Bets

In other Costco Wholesale news, EVP Caton Frates sold 600 shares of the firm’s stock in a transaction dated Tuesday, April 11th. The shares were sold at an average price of $497.35, for a total value of $298,410.00. Following the completion of the sale, the executive vice president now owns 4,320 shares of the company’s stock, valued at $2,148,552. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.22% of the stock is owned by insiders.

Costco Wholesale Profile

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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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Institutional Ownership by Quarter for Costco Wholesale (NASDAQ:COST)

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