Parvin Asset Management LLC Takes $916,000 Position in Costco Wholesale Co. (NASDAQ:COST)

Parvin Asset Management LLC acquired a new stake in Costco Wholesale Co. (NASDAQ:COST) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 1,000 shares of the retailer’s stock, valued at approximately $916,000. Costco Wholesale makes up about 1.0% of Parvin Asset Management LLC’s holdings, making the stock its 29th biggest position.

Other institutional investors have also modified their holdings of the company. Synergy Investment Management LLC acquired a new stake in shares of Costco Wholesale in the fourth quarter valued at $31,000. NewSquare Capital LLC grew its stake in shares of 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 in the last quarter. Endeavor Private Wealth Inc. acquired a new stake in shares of Costco Wholesale in the fourth quarter valued at $33,000. Collier Financial purchased a new stake in Costco Wholesale during the 4th quarter worth about $35,000. Finally, Barrett & Company Inc. increased its holdings in Costco Wholesale by 59.3% during the 4th quarter. Barrett & Company Inc. now owns 43 shares of the retailer’s stock worth $39,000 after purchasing an additional 16 shares during the period. 68.48% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on COST. Telsey Advisory Group restated an “outperform” rating and set a $1,100.00 price target on shares of Costco Wholesale in a report on Monday. Truist Financial upped their price target on Costco Wholesale from $935.00 to $995.00 and gave the stock a “hold” rating in a report on Friday, March 7th. Cowen restated a “buy” rating on shares of Costco Wholesale in a report on Friday, March 7th. Loop Capital cut their price target on Costco Wholesale from $1,150.00 to $1,045.00 and set a “buy” rating on the stock in a report on Wednesday, April 9th. Finally, DA Davidson upped their price target on Costco Wholesale from $900.00 to $1,000.00 and gave the stock a “neutral” rating in a report on Thursday, February 6th. Ten equities research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $1,024.03.

Costco Wholesale Stock Up 1.3 %

COST opened at $991.70 on Wednesday. Costco Wholesale Co. has a 12 month low of $715.32 and a 12 month high of $1,078.24. The stock has a market capitalization of $440.00 billion, a P/E ratio of 58.23, a P/E/G ratio of 6.15 and a beta of 0.95. The business has a 50 day simple moving average of $963.93 and a 200-day simple moving average of $957.14. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.98 and a quick ratio of 0.43.

Costco Wholesale (NASDAQ:COST) last released its quarterly earnings data on Thursday, March 6th. The retailer reported $4.02 earnings per share for the quarter, missing the consensus estimate of $4.09 by ($0.07). Costco Wholesale had a net margin of 2.93% and a return on equity of 32.31%. The firm had revenue of $63.72 billion during the quarter, compared to analysts’ expectations of $63.02 billion. On average, equities analysts anticipate that Costco Wholesale Co. will post 18.03 earnings per share for the current fiscal year.

Costco Wholesale Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 16th. Investors of record on Friday, May 2nd will be paid a $1.30 dividend. This is an increase from Costco Wholesale’s previous quarterly dividend of $1.16. This represents a $5.20 annualized dividend and a yield of 0.52%. The ex-dividend date of this dividend is Friday, May 2nd. Costco Wholesale’s dividend payout ratio (DPR) is presently 30.36%.

Insider Activity at Costco Wholesale

In related news, EVP Claudine Adamo sold 900 shares of the firm’s stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $922.56, for a total value of $830,304.00. Following the completion of the transaction, the executive vice president now directly owns 6,987 shares of the company’s stock, valued at $6,445,926.72. This trade represents a 11.41 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Roland Michael Vachris sold 3,600 shares of the business’s stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $931.00, for a total value of $3,351,600.00. Following the completion of the transaction, the chief executive officer now directly owns 41,077 shares of the company’s stock, valued at approximately $38,242,687. This trade represents a 8.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 9,600 shares of company stock valued at $9,140,195 in the last ninety days. Corporate insiders own 0.18% of the company’s stock.

About Costco Wholesale

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.