Tower Wealth Partners Inc. Raises Stock Holdings in Costco Wholesale Co. (NASDAQ:COST)

Tower Wealth Partners Inc. increased its stake in shares of Costco Wholesale Co. (NASDAQ:COST) by 6.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 423 shares of the retailer’s stock after purchasing an additional 25 shares during the quarter. Tower Wealth Partners Inc.’s holdings in Costco Wholesale were worth $388,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. RPg Family Wealth Advisory LLC purchased a new position in shares of Costco Wholesale during the 3rd quarter worth $29,000. Synergy Investment Management LLC acquired a new position in Costco Wholesale in the fourth quarter valued at $31,000. NewSquare Capital LLC lifted its position in Costco Wholesale by 250.0% during the fourth quarter. NewSquare Capital LLC now owns 35 shares of the retailer’s stock worth $32,000 after buying an additional 25 shares during the period. Endeavor Private Wealth Inc. acquired a new stake in Costco Wholesale in the 4th quarter worth about $33,000. Finally, Collier Financial purchased a new stake in Costco Wholesale in the 4th quarter valued at about $35,000. Institutional investors and hedge funds own 68.48% of the company’s stock.

Costco Wholesale Stock Down 6.1 %

NASDAQ:COST opened at $964.31 on Monday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.43 and a current ratio of 0.98. The company has a market capitalization of $428.06 billion, a price-to-earnings ratio of 56.62, a price-to-earnings-growth ratio of 6.15 and a beta of 0.82. Costco Wholesale Co. has a one year low of $697.27 and a one year high of $1,078.24. The stock has a 50-day simple moving average of $989.69 and a 200 day simple moving average of $943.88.

Costco Wholesale (NASDAQ:COST) last issued its earnings results on Thursday, March 6th. The retailer reported $4.02 EPS for the quarter, missing the consensus estimate of $4.09 by ($0.07). Costco Wholesale had a return on equity of 32.31% and a net margin of 2.93%. The firm had revenue of $63.72 billion during the quarter, compared to analyst estimates of $63.02 billion. Sell-side analysts predict that Costco Wholesale Co. will post 18.03 EPS for the current fiscal year.

Costco Wholesale Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 21st. Stockholders of record on Friday, February 7th were given a $1.16 dividend. The ex-dividend date was Friday, February 7th. This represents a $4.64 dividend on an annualized basis and a dividend yield of 0.48%. Costco Wholesale’s payout ratio is currently 27.09%.

Wall Street Analysts Forecast Growth

COST has been the topic of several recent analyst reports. Wells Fargo & Company increased their price objective on shares of Costco Wholesale from $950.00 to $1,000.00 and gave the stock an “equal weight” rating in a report on Friday, December 13th. Morgan Stanley increased their price target on shares of Costco Wholesale from $950.00 to $1,150.00 and gave the stock an “overweight” rating in a research note on Friday, December 13th. JPMorgan Chase & Co. boosted their price objective on shares of Costco Wholesale from $1,065.00 to $1,070.00 and gave the company an “overweight” rating in a research note on Friday. Loop Capital cut their target price on Costco Wholesale from $1,150.00 to $1,135.00 and set a “buy” rating on the stock in a research report on Friday. Finally, Robert W. Baird boosted their price target on Costco Wholesale from $1,075.00 to $1,125.00 and gave the company an “outperform” rating in a research report on Friday. Ten research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $1,029.00.

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.