Broadway Wealth Solutions Inc. Makes New $1.49 Million Investment in Costco Wholesale Co. (NASDAQ:COST)

Broadway Wealth Solutions Inc. purchased a new position in Costco Wholesale Co. (NASDAQ:COST) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 1,629 shares of the retailer’s stock, valued at approximately $1,493,000. Costco Wholesale comprises approximately 1.1% of Broadway Wealth Solutions Inc.’s holdings, making the stock its 15th largest position.

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

Costco Wholesale Price Performance

NASDAQ:COST opened at $938.75 on Friday. 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 stock has a 50 day moving average price of $988.34 and a 200 day moving average price of $945.95. The stock has a market cap of $416.51 billion, a PE ratio of 55.12, a P/E/G 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.

Costco Wholesale (NASDAQ:COST) last announced its quarterly earnings results on Thursday, March 6th. The retailer reported $4.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $63.02 billion. Equities research analysts expect 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. Shareholders of record on Friday, February 7th were given a $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date of this dividend was Friday, February 7th. Costco Wholesale’s payout ratio is 27.09%.

Insider Activity at Costco Wholesale

In other news, EVP Claudine Adamo sold 900 shares of the stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $922.56, for a total value of $830,304.00. Following the transaction, the executive vice president now owns 6,987 shares in the company, valued at approximately $6,445,926.72. This represents a 11.41 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Roland Michael Vachris sold 3,600 shares of the stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $931.00, for a total transaction of $3,351,600.00. Following the completion of the transaction, the chief executive officer now owns 41,077 shares in the company, valued at $38,242,687. This represents a 8.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 5,600 shares of company stock worth $5,215,915. 0.18% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Morgan Stanley upped their price objective on shares of Costco Wholesale from $950.00 to $1,150.00 and gave the company an “overweight” rating in a report on Friday, December 13th. Truist Financial increased their price target on Costco Wholesale from $935.00 to $995.00 and gave the stock a “hold” rating in a research report on Friday, March 7th. JPMorgan Chase & Co. boosted their price objective on Costco Wholesale from $1,065.00 to $1,070.00 and gave the company an “overweight” rating in a report on Friday, March 7th. Cowen reaffirmed a “buy” rating on shares of Costco Wholesale in a report on Friday, March 7th. Finally, Oppenheimer reissued an “outperform” rating and issued a $1,075.00 price target (up from $980.00) on shares of Costco Wholesale in a report on Tuesday, December 10th. Nine research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $1,029.00.

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.