Trust Point Inc. Purchases Shares of 2,817 Costco Wholesale Co. (NASDAQ:COST)

Trust Point Inc. bought a new position in shares of Costco Wholesale Co. (NASDAQ:COSTFree Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,817 shares of the retailer’s stock, valued at approximately $1,859,000.

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

Costco Wholesale Stock Performance

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

Costco Wholesale (NASDAQ:COSTGet Free Report) last released its earnings results on Thursday, March 7th. The retailer reported $3.71 EPS for the quarter, topping analysts’ consensus estimates of $3.62 by $0.09. The company had revenue of $58.44 billion during the quarter, compared to analysts’ expectations of $59.11 billion. Costco Wholesale had a net margin of 2.73% and a return on equity of 28.80%. Costco Wholesale’s revenue for the quarter was up 5.7% on a year-over-year basis. During the same period last year, the business earned $3.30 EPS. As a group, sell-side analysts expect that Costco Wholesale Co. will post 15.81 earnings per share for the current year.

Costco Wholesale Announces Dividend

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

Wall Street Analysts Forecast Growth

COST has been the subject of several research reports. DA Davidson increased their price objective on shares of Costco Wholesale from $570.00 to $600.00 and gave the company a “neutral” rating in a research report on Friday, December 15th. Truist Financial increased their price objective on shares of Costco Wholesale from $693.00 to $741.00 and gave the company a “buy” rating in a research report on Thursday, December 21st. Tigress Financial increased their price objective on shares of Costco Wholesale from $745.00 to $870.00 and gave the company a “buy” rating in a research report on Friday, March 15th. 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. Finally, Gordon Haskett downgraded shares of Costco Wholesale from a “buy” rating to an “accumulate” rating and set a $775.00 target price on the stock. in a research note on Wednesday. Seven equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat.com, Costco Wholesale currently has a consensus rating of “Moderate Buy” and an average price target of $672.76.

Read Our Latest Stock Report on Costco Wholesale

Insider Buying and Selling at Costco Wholesale

In other Costco Wholesale news, EVP Caton Frates sold 740 shares of Costco Wholesale stock in a transaction that occurred on 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 sale, the executive vice president now directly owns 6,721 shares in the company, valued at approximately $4,593,803.50. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Costco Wholesale news, EVP Caton Frates sold 740 shares of Costco Wholesale stock in a transaction that occurred on 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 sale, the executive vice president now directly owns 6,721 shares in the company, valued at approximately $4,593,803.50. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Daniel M. Hines sold 1,400 shares of Costco Wholesale stock in a transaction that occurred on 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 ninety days, insiders sold 15,582 shares of company stock worth $10,736,778. Company insiders own 0.18% of the company’s stock.

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.

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

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