Miller Financial Services LLC Makes New Investment in Costco Wholesale Co. (NASDAQ:COST)

Miller Financial Services LLC purchased a new position in shares of Costco Wholesale Co. (NASDAQ:COST) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 1,548 shares of the retailer’s stock, valued at approximately $1,419,000. Costco Wholesale makes up approximately 1.2% of Miller Financial Services LLC’s holdings, making the stock its 23rd largest holding.

A number of other institutional investors have also recently bought and sold shares of COST. Swedbank AB boosted its stake in shares of Costco Wholesale by 1.5% in the 3rd quarter. Swedbank AB now owns 443,747 shares of the retailer’s stock valued at $393,391,000 after purchasing an additional 6,495 shares in the last quarter. United Bank boosted its stake in shares of Costco Wholesale by 7.5% in the 3rd quarter. United Bank now owns 5,962 shares of the retailer’s stock valued at $5,285,000 after purchasing an additional 416 shares in the last quarter. Arvest Investments Inc. boosted its stake in shares of Costco Wholesale by 19.2% in the 3rd quarter. Arvest Investments Inc. now owns 316 shares of the retailer’s stock valued at $280,000 after purchasing an additional 51 shares in the last quarter. Ashton Thomas Securities LLC boosted its stake in shares of Costco Wholesale by 7.5% in the 3rd quarter. Ashton Thomas Securities LLC now owns 1,838 shares of the retailer’s stock valued at $1,629,000 after purchasing an additional 129 shares in the last quarter. Finally, Kennebec Savings Bank acquired a new stake in shares of Costco Wholesale in the 3rd quarter valued at $1,228,000. Institutional investors and hedge funds own 68.48% of the company’s stock.

Costco Wholesale Price Performance

Costco Wholesale stock opened at $934.41 on Tuesday. The firm has a market capitalization of $414.78 billion, a P/E ratio of 54.87, a PEG ratio of 6.15 and a beta of 0.82. Costco Wholesale Co. has a 1 year low of $697.27 and a 1 year high of $1,078.24. The business has a 50-day moving average of $989.94 and a 200-day moving average of $944.28. The company has a current ratio of 0.98, a quick ratio of 0.43 and a debt-to-equity ratio of 0.23.

Costco Wholesale (NASDAQ:COST) last posted its earnings results on Thursday, March 6th. The retailer reported $4.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.09 by ($0.07). The company had revenue of $63.72 billion for the quarter, compared to analyst estimates of $63.02 billion. Costco Wholesale had a return on equity of 32.31% and a net margin of 2.93%. On average, equities analysts anticipate that Costco Wholesale Co. will post 18.03 EPS for the current year.

Costco Wholesale Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 21st. Investors of record on Friday, February 7th were given a $1.16 dividend. The ex-dividend date of this dividend was Friday, February 7th. This represents a $4.64 annualized dividend and a dividend yield of 0.50%. Costco Wholesale’s dividend payout ratio is presently 27.09%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Robert W. Baird boosted their target price on shares of Costco Wholesale from $1,075.00 to $1,125.00 and gave the company an “outperform” rating in a research note on Friday. Morgan Stanley lifted their price target on Costco Wholesale from $950.00 to $1,150.00 and gave the company an “overweight” rating in a report on Friday, December 13th. TD Cowen lifted their price target on Costco Wholesale from $975.00 to $1,090.00 and gave the company a “buy” rating in a report on Friday, December 13th. Truist Financial lifted their price target on Costco Wholesale from $935.00 to $995.00 and gave the company a “hold” rating in a report on Friday. Finally, Telsey Advisory Group reaffirmed an “outperform” rating and issued a $1,100.00 price target on shares of Costco Wholesale in a report on Monday, March 3rd. Ten investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $1,030.43.

Costco Wholesale 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.