Costco Wholesale Co. (NASDAQ:COST) Shares Acquired by Modern Wealth Management LLC

Modern Wealth Management LLC raised its stake in shares of Costco Wholesale Co. (NASDAQ:COST) by 66.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,440 shares of the retailer’s stock after buying an additional 2,978 shares during the period. Modern Wealth Management LLC’s holdings in Costco Wholesale were worth $6,817,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. RPg Family Wealth Advisory LLC acquired a new position in shares of Costco Wholesale during the 3rd quarter valued at $29,000. Synergy Investment Management LLC bought a new position in Costco Wholesale during the fourth quarter valued at about $31,000. NewSquare Capital LLC grew its holdings 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 acquiring an additional 25 shares during the period. Endeavor Private Wealth Inc. bought a new stake in Costco Wholesale in the fourth quarter worth about $33,000. Finally, Collier Financial acquired a new stake in Costco Wholesale in the 4th quarter valued at about $35,000. 68.48% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Costco Wholesale news, CEO Roland Michael Vachris sold 3,600 shares of Costco Wholesale stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $931.00, for a total value of $3,351,600.00. Following the transaction, the chief executive officer now directly owns 41,077 shares of the company’s stock, valued at $38,242,687. The trade was a 8.06 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.18% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Robert W. Baird lifted their price objective on shares of Costco Wholesale from $1,075.00 to $1,125.00 and gave the stock an “outperform” rating in a research note on Friday, March 7th. Morgan Stanley upped 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 raised their price objective on Costco Wholesale from $975.00 to $1,090.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Costco Wholesale in a research report on Friday, March 7th. Finally, Stifel Nicolaus decreased their price target on Costco Wholesale from $1,075.00 to $1,035.00 and set a “buy” rating for the company in a research report on Thursday, March 20th. Nine investment analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the stock. According to MarketBeat, Costco Wholesale currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,029.00.

Costco Wholesale Price Performance

Shares of NASDAQ:COST opened at $926.04 on Tuesday. The stock has a market capitalization of $410.87 billion, a P/E ratio of 54.38, a P/E/G ratio of 6.15 and a beta of 0.82. The business has a 50-day moving average of $987.58 and a two-hundred day moving average of $945.73. Costco Wholesale Co. has a fifty-two week low of $697.27 and a fifty-two week high of $1,078.24. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.98 and a quick ratio of 0.43.

Costco Wholesale (NASDAQ:COST) last posted its earnings results on Thursday, March 6th. The retailer reported $4.02 earnings per share 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 company had revenue of $63.72 billion during the quarter, compared to analyst estimates of $63.02 billion. On average, equities research analysts predict that Costco Wholesale Co. will post 18.03 EPS for the current fiscal year.

Costco Wholesale Announces Dividend

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

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.