Precision Wealth Strategies LLC Acquires 398 Shares of Costco Wholesale Co. (NASDAQ:COST)

Precision Wealth Strategies LLC lifted its position in Costco Wholesale Co. (NASDAQ:COST) by 14.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 3,199 shares of the retailer’s stock after buying an additional 398 shares during the period. Costco Wholesale comprises 2.3% of Precision Wealth Strategies LLC’s portfolio, making the stock its 14th largest holding. Precision Wealth Strategies LLC’s holdings in Costco Wholesale were worth $3,026,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in COST. Investment Management Corp VA ADV purchased a new position in shares of Costco Wholesale during the fourth quarter valued at approximately $25,000. Synergy Investment Management LLC purchased a new stake in shares of Costco Wholesale in the fourth quarter worth $31,000. NewSquare Capital LLC increased its holdings in shares of Costco Wholesale by 250.0% in the fourth quarter. NewSquare Capital LLC now owns 35 shares of the retailer’s stock worth $32,000 after purchasing an additional 25 shares during the last quarter. Clear Investment Research LLC increased its holdings in shares of Costco Wholesale by 22.2% in the fourth quarter. Clear Investment Research LLC now owns 55 shares of the retailer’s stock worth $51,000 after purchasing an additional 10 shares during the last quarter. Finally, Capital A Wealth Management LLC bought a new stake in shares of Costco Wholesale in the fourth quarter worth about $58,000. Institutional investors own 68.48% of the company’s stock.

Wall Street Analyst Weigh In

COST has been the topic of a number of recent research reports. Wall Street Zen upgraded Costco Wholesale from a “hold” rating to a “buy” rating in a research report on Friday, June 6th. Robert W. Baird boosted their price target on Costco Wholesale from $1,075.00 to $1,125.00 and gave the company an “outperform” rating in a report on Friday, March 7th. Truist Financial boosted their price target on Costco Wholesale from $995.00 to $1,042.00 and gave the company a “hold” rating in a report on Friday, May 30th. Cowen restated a “buy” rating on shares of Costco Wholesale in a report on Friday, March 7th. Finally, Evercore ISI upped their target price on Costco Wholesale from $1,070.00 to $1,075.00 and gave the stock an “outperform” rating in a report on Thursday, May 29th. Nine investment analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $1,035.32.

Costco Wholesale Price Performance

Shares of COST opened at $984.36 on Tuesday. The business’s 50-day moving average is $1,001.94 and its two-hundred day moving average is $981.18. The company has a market capitalization of $436.54 billion, a P/E ratio of 57.80, a P/E/G ratio of 6.15 and a beta of 1.00. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.43 and a current ratio of 0.98. Costco Wholesale Co. has a fifty-two week low of $793.00 and a fifty-two week high of $1,078.24.

Costco Wholesale (NASDAQ:COST) last posted its earnings results on Thursday, May 29th. The retailer reported $4.28 EPS for the quarter, beating analysts’ consensus estimates of $4.24 by $0.04. Costco Wholesale had a return on equity of 32.31% and a net margin of 2.93%. The firm had revenue of $63.21 billion for the quarter, compared to analysts’ expectations of $62.93 billion. During the same period last year, the firm earned $3.78 EPS. The company’s quarterly revenue was up 8.0% on a year-over-year basis. Research analysts predict that Costco Wholesale Co. will post 18.03 earnings per share for the current year.

Costco Wholesale Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 16th. Investors of record on Friday, May 2nd were issued a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 0.53%. This is a boost from Costco Wholesale’s previous quarterly dividend of $1.16. The ex-dividend date was Friday, May 2nd. Costco Wholesale’s payout ratio is presently 29.50%.

Insider Buying and Selling

In other Costco Wholesale news, EVP James C. Klauer sold 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 17th. The shares were sold at an average price of $981.07, for a total value of $3,924,280.00. Following the transaction, the executive vice president now directly owns 43,994 shares of the company’s stock, valued at $43,161,193.58. This trade represents a 8.33% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 transaction of $830,304.00. Following the completion of the transaction, the executive vice president now directly owns 6,987 shares in the company, valued at $6,445,926.72. This trade represents a 11.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 11,000 shares of company stock worth $10,825,205. Insiders own 0.18% of the company’s stock.

Costco Wholesale Company 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.