Financial Partners Group LLC Acquires New Holdings in Costco Wholesale Co. (NASDAQ:COST)

Financial Partners Group LLC purchased a new position in shares of Costco Wholesale Co. (NASDAQ:COSTFree Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 1,615 shares of the retailer’s stock, valued at approximately $1,183,000.

Several other hedge funds have also recently added to or reduced their stakes in the company. Richelieu Gestion SA acquired a new stake in shares of Costco Wholesale during the 4th quarter worth approximately $25,000. Frank Rimerman Advisors LLC acquired a new stake in shares of Costco Wholesale during the 4th quarter worth approximately $26,000. Morton Brown Family Wealth LLC grew its position in shares of Costco Wholesale by 200.0% during the 4th quarter. Morton Brown Family Wealth LLC now owns 45 shares of the retailer’s stock worth $30,000 after buying an additional 30 shares during the period. Wetzel Investment Advisors Inc. acquired a new stake in shares of Costco Wholesale during the 4th quarter worth approximately $30,000. Finally, Vima LLC acquired a new stake in shares of Costco Wholesale during the 4th quarter worth approximately $34,000. Institutional investors own 68.48% of the company’s stock.

Analyst Upgrades and Downgrades

COST has been the subject of several research reports. Argus lifted their price target on shares of Costco Wholesale from $805.00 to $900.00 and gave the company a “buy” rating in a research report on Tuesday, May 28th. Barclays lifted their price target on shares of Costco Wholesale from $700.00 to $765.00 and gave the company an “equal weight” rating in a research report on Friday, May 31st. Wells Fargo & Company lifted their price target on shares of Costco Wholesale from $750.00 to $775.00 and gave the company an “equal weight” rating in a research report on Friday, May 31st. StockNews.com raised shares of Costco Wholesale from a “hold” rating to a “buy” rating in a research report on Sunday, June 2nd. Finally, Gordon Haskett cut Costco Wholesale from a “buy” rating to an “accumulate” rating and set a $775.00 price objective on the stock. in a research note on Wednesday, April 3rd. Seven 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 has an average rating of “Moderate Buy” and an average target price of $756.85.

Get Our Latest Research Report on COST

Insider Buying and Selling

In related news, EVP Russell D. Miller sold 785 shares of Costco Wholesale stock in a transaction on Wednesday, April 17th. The shares were sold at an average price of $722.86, for a total value of $567,445.10. Following the sale, the executive vice president now owns 10,000 shares in the company, valued at $7,228,600. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.18% of the stock is owned by insiders.

Costco Wholesale Stock Down 0.1 %

Shares of NASDAQ COST opened at $849.99 on Monday. Costco Wholesale Co. has a 12 month low of $524.63 and a 12 month high of $873.96. The company has a current ratio of 0.94, a quick ratio of 0.45 and a debt-to-equity ratio of 0.27. The firm has a market capitalization of $376.83 billion, a price-to-earnings ratio of 52.66, a PEG ratio of 5.63 and a beta of 0.78. The business has a 50-day moving average of $801.95 and a 200-day moving average of $740.64.

Costco Wholesale (NASDAQ:COSTGet Free Report) last issued its quarterly earnings data on Thursday, May 30th. The retailer reported $3.78 EPS for the quarter, topping the consensus estimate of $3.70 by $0.08. The company had revenue of $58.52 billion during the quarter, compared to analyst estimates of $58.16 billion. Costco Wholesale had a return on equity of 30.02% and a net margin of 2.83%. Costco Wholesale’s revenue was up 9.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.43 earnings per share. Sell-side analysts expect that Costco Wholesale Co. will post 15.96 earnings per share for the current fiscal year.

Costco Wholesale Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 10th. Investors of record on Friday, April 26th were paid a $1.16 dividend. This represents a $4.64 annualized dividend and a dividend yield of 0.55%. This is an increase from Costco Wholesale’s previous quarterly dividend of $1.02. The ex-dividend date was Thursday, April 25th. Costco Wholesale’s payout ratio is presently 28.75%.

Costco Wholesale Profile

(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.

Further Reading

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

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