Trust Point Inc. Takes $1.86 Million Position in Costco Wholesale Co. (NASDAQ:COST)

Trust Point Inc. purchased a new stake in shares of Costco Wholesale Co. (NASDAQ:COSTFree Report) in the fourth quarter, HoldingsChannel.com reports. The fund purchased 2,817 shares of the retailer’s stock, valued at approximately $1,859,000.

Other hedge funds have also modified their holdings of the company. B. Riley Wealth Advisors Inc. increased its stake in shares of Costco Wholesale by 1.0% during the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 28,855 shares of the retailer’s stock worth $16,302,000 after purchasing an additional 273 shares in the last quarter. Keating Investment Counselors Inc. increased its stake in shares of Costco Wholesale by 43.0% during the 3rd quarter. Keating Investment Counselors Inc. now owns 2,643 shares of the retailer’s stock worth $1,493,000 after purchasing an additional 795 shares in the last quarter. Rice Partnership LLC increased its stake in shares of Costco Wholesale by 21.0% during the 3rd quarter. Rice Partnership LLC now owns 11,741 shares of the retailer’s stock worth $6,633,000 after purchasing an additional 2,038 shares in the last quarter. Cyndeo Wealth Partners LLC increased its stake in shares of Costco Wholesale by 79.6% during the 4th quarter. Cyndeo Wealth Partners LLC now owns 10,358 shares of the retailer’s stock worth $6,837,000 after purchasing an additional 4,592 shares in the last quarter. Finally, Resources Management Corp CT ADV lifted its holdings in shares of Costco Wholesale by 1,396.0% during the 2nd quarter. Resources Management Corp CT ADV now owns 14,960 shares of the retailer’s stock valued at $8,054,000 after acquiring an additional 13,960 shares in the last quarter. 68.48% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Daniel M. Hines sold 1,400 shares of Costco Wholesale stock in a transaction dated Tuesday, January 9th. The shares were sold at an average price of $662.30, for a total transaction of $927,220.00. Following the sale, the insider now directly owns 13,922 shares in the company, valued at approximately $9,220,540.60. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, EVP Caton Frates sold 740 shares of Costco Wholesale stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $683.50, for a total transaction of $505,790.00. Following the completion of the transaction, the executive vice president now directly owns 6,721 shares of the company’s stock, valued at approximately $4,593,803.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Daniel M. Hines sold 1,400 shares of Costco Wholesale stock in a transaction dated Tuesday, January 9th. The shares were sold at an average price of $662.30, for a total transaction of $927,220.00. Following the transaction, the insider now directly owns 13,922 shares of the company’s stock, valued at $9,220,540.60. The disclosure for this sale can be found here. In the last three months, insiders have sold 15,582 shares of company stock worth $10,736,778. Corporate insiders own 0.18% of the company’s stock.

Wall Street Analyst Weigh In

COST has been the subject of several recent research reports. Truist Financial increased their target price on shares of Costco Wholesale from $693.00 to $741.00 and gave the company a “buy” rating in a research note on Thursday, December 21st. Loop Capital increased their target price on shares of Costco Wholesale from $710.00 to $755.00 in a research note on Friday, January 19th. Telsey Advisory Group increased their target price on shares of Costco Wholesale from $750.00 to $785.00 and gave the company an “outperform” rating in a research note on Monday, March 4th. BMO Capital Markets boosted their price target on shares of Costco Wholesale from $612.00 to $700.00 and gave the company an “outperform” rating in a report on Friday, December 15th. Finally, Stifel Nicolaus boosted their price target on shares of Costco Wholesale from $615.00 to $675.00 and gave the company a “buy” rating in a report on Friday, December 15th. Seven investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat.com, Costco Wholesale presently has a consensus rating of “Moderate Buy” and a consensus target price of $672.76.

Get Our Latest Stock Report on Costco Wholesale

Costco Wholesale Stock Performance

COST traded down $10.40 during trading on Wednesday, hitting $700.90. The stock had a trading volume of 1,207,925 shares, compared to its average volume of 2,136,270. The firm has a market cap of $310.85 billion, a PE ratio of 45.98, a P/E/G ratio of 4.99 and a beta of 0.77. Costco Wholesale Co. has a 12 month low of $476.75 and a 12 month high of $787.08. The company has a current ratio of 0.93, a quick ratio of 0.43 and a debt-to-equity ratio of 0.28. The company has a 50 day simple moving average of $727.00 and a 200-day simple moving average of $647.84.

Costco Wholesale (NASDAQ:COSTGet Free Report) last announced its earnings results on Thursday, March 7th. The retailer reported $3.71 EPS for the quarter, topping the consensus estimate of $3.62 by $0.09. The firm had revenue of $58.44 billion for the quarter, compared to the consensus estimate of $59.11 billion. Costco Wholesale had a net margin of 2.73% and a return on equity of 28.80%. The business’s quarterly revenue was up 5.7% on a year-over-year basis. During the same quarter last year, the firm posted $3.30 EPS. Analysts expect that Costco Wholesale Co. will post 15.81 EPS for the current year.

Costco Wholesale Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 16th. Stockholders of record on Friday, February 2nd were given a dividend of $1.02 per share. The ex-dividend date was Thursday, February 1st. This represents a $4.08 annualized dividend and a dividend yield of 0.58%. Costco Wholesale’s dividend payout ratio (DPR) is currently 26.68%.

About Costco Wholesale

(Free Report)

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.

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Want to see what other hedge funds are holding COST? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Costco Wholesale Co. (NASDAQ:COSTFree Report).

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

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