Golden State Equity Partners Increases Stock Holdings in Costco Wholesale Co. (NASDAQ:COST)

Golden State Equity Partners grew its position in Costco Wholesale Co. (NASDAQ:COSTGet Rating) by 57.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,208 shares of the retailer’s stock after buying an additional 1,171 shares during the quarter. Golden State Equity Partners’ holdings in Costco Wholesale were worth $1,847,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Ford Financial Group LLC lifted its holdings in shares of Costco Wholesale by 2.4% in the first quarter. Ford Financial Group LLC now owns 821 shares of the retailer’s stock valued at $472,000 after buying an additional 19 shares during the period. Fermata Advisors LLC lifted its holdings in shares of Costco Wholesale by 5.1% in the first quarter. Fermata Advisors LLC now owns 394 shares of the retailer’s stock valued at $227,000 after buying an additional 19 shares during the period. Strategic Investment Advisors MI raised its position in shares of Costco Wholesale by 1.9% during the first quarter. Strategic Investment Advisors MI now owns 1,026 shares of the retailer’s stock worth $591,000 after purchasing an additional 19 shares during the period. Gill Capital Partners LLC raised its position in shares of Costco Wholesale by 2.2% during the fourth quarter. Gill Capital Partners LLC now owns 909 shares of the retailer’s stock worth $516,000 after purchasing an additional 20 shares during the period. Finally, Retirement Solution Inc. raised its position in shares of Costco Wholesale by 1.1% during the fourth quarter. Retirement Solution Inc. now owns 1,919 shares of the retailer’s stock worth $1,089,000 after purchasing an additional 20 shares during the period. Hedge funds and other institutional investors own 66.83% of the company’s stock.

Costco Wholesale Stock Performance

COST opened at $510.30 on Wednesday. The company has a market cap of $226.04 billion, a PE ratio of 40.18, a price-to-earnings-growth ratio of 4.05 and a beta of 0.70. The stock has a 50-day moving average of $529.35 and a 200-day moving average of $521.07. Costco Wholesale Co. has a 52-week low of $406.51 and a 52-week high of $612.27. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.48 and a current ratio of 1.04.

Costco Wholesale Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 12th. Investors of record on Friday, July 29th were paid a dividend of $0.09 per share. The ex-dividend date of this dividend was Thursday, July 28th. This represents a $0.36 annualized dividend and a yield of 0.07%. Costco Wholesale’s payout ratio is 28.35%.

Insider Activity at Costco Wholesale

In related news, VP James P. Murphy sold 2,500 shares of the stock in a transaction that occurred on Wednesday, June 22nd. The stock was sold at an average price of $464.00, for a total transaction of $1,160,000.00. Following the completion of the sale, the vice president now owns 37,730 shares in the company, valued at approximately $17,506,720. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Costco Wholesale news, CFO Richard A. Galanti sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 14th. The stock was sold at an average price of $505.60, for a total value of $505,600.00. Following the completion of the sale, the chief financial officer now owns 25,750 shares in the company, valued at approximately $13,019,200. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP James P. Murphy sold 2,500 shares of the firm’s stock in a transaction that occurred on Wednesday, June 22nd. The stock was sold at an average price of $464.00, for a total value of $1,160,000.00. Following the completion of the sale, the vice president now owns 37,730 shares of the company’s stock, valued at approximately $17,506,720. The disclosure for this sale can be found here. Insiders sold a total of 5,300 shares of company stock worth $2,609,904 in the last 90 days. 0.22% of the stock is owned by company insiders.

Analysts Set New Price Targets

COST has been the topic of a number of recent analyst reports. Oppenheimer boosted their target price on Costco Wholesale from $535.00 to $600.00 in a research report on Thursday, August 4th. The Goldman Sachs Group boosted their target price on Costco Wholesale from $516.00 to $573.00 and gave the stock a “buy” rating in a research report on Thursday, August 4th. Credit Suisse Group cut their target price on Costco Wholesale from $570.00 to $550.00 and set a “neutral” rating on the stock in a research report on Friday, May 27th. Truist Financial upped their price target on Costco Wholesale from $543.00 to $571.00 in a research report on Thursday, August 4th. Finally, Deutsche Bank Aktiengesellschaft raised Costco Wholesale from a “hold” rating to a “buy” rating and upped their price target for the company from $525.00 to $579.00 in a research report on Thursday, July 14th. Four investment analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the stock. According to data from MarketBeat.com, Costco Wholesale currently has an average rating of “Moderate Buy” and an average target price of $575.28.

About Costco Wholesale

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Costco Wholesale Corporation, together with its subsidiaries, engages in the operation of membership warehouses in the United States, Puerto Rico, Canada, the United Kingdom, Mexico, Japan, Korea, Australia, Spain, France, Iceland, China, and Taiwan. It offers branded and private-label products in a range of merchandise categories.

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

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