Xcel Wealth Management LLC Acquires 980 Shares of Costco Wholesale Corporation (NASDAQ:COST)

Xcel Wealth Management LLC lifted its stake in shares of Costco Wholesale Corporation (NASDAQ:COST) by 64.5% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,499 shares of the retailer’s stock after buying an additional 980 shares during the period. Xcel Wealth Management LLC’s holdings in Costco Wholesale were worth $2,364,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Miramar Capital LLC grew its position in shares of Costco Wholesale by 1.9% during the 4th quarter. Miramar Capital LLC now owns 525 shares of the retailer’s stock worth $481,000 after buying an additional 10 shares during the period. Clear Investment Research LLC boosted its stake in Costco Wholesale by 22.2% during the fourth quarter. Clear Investment Research LLC now owns 55 shares of the retailer’s stock worth $51,000 after acquiring an additional 10 shares in the last quarter. Peninsula Wealth LLC grew its holdings in Costco Wholesale by 1.2% in the fourth quarter. Peninsula Wealth LLC now owns 818 shares of the retailer’s stock worth $749,000 after purchasing an additional 10 shares during the period. Bosun Asset Management LLC increased its stake in Costco Wholesale by 1.6% in the fourth quarter. Bosun Asset Management LLC now owns 636 shares of the retailer’s stock valued at $583,000 after purchasing an additional 10 shares in the last quarter. Finally, Lifeworks Advisors LLC raised its holdings in shares of Costco Wholesale by 1.2% during the fourth quarter. Lifeworks Advisors LLC now owns 895 shares of the retailer’s stock valued at $820,000 after purchasing an additional 11 shares during the period. Institutional investors and hedge funds own 68.48% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Morgan Stanley raised their target price on Costco Wholesale from $1,150.00 to $1,225.00 and gave the company an “overweight” rating in a research note on Friday, May 30th. Cowen reiterated a “buy” rating on shares of Costco Wholesale in a report on Friday, March 7th. Barclays boosted their price objective on Costco Wholesale from $940.00 to $980.00 and gave the company an “equal weight” rating in a report on Monday, March 10th. JPMorgan Chase & Co. increased their target price on Costco Wholesale from $1,065.00 to $1,070.00 and gave the stock an “overweight” rating in a report on Friday, March 7th. Finally, Truist Financial boosted their price target on shares of Costco Wholesale from $995.00 to $1,042.00 and gave the company a “hold” rating in a research note on Friday, May 30th. Nine research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $1,034.79.

Insider Activity at Costco Wholesale

In related news, EVP Pierre Riel sold 2,000 shares of the company’s stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $1,014.15, for a total value of $2,028,300.00. Following the transaction, the executive vice president owned 8,210 shares in the company, valued at approximately $8,326,171.50. This represents a 19.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Patrick J. Callans sold 3,000 shares of the business’s stock in a transaction on Monday, June 9th. The shares were sold at an average price of $1,002.77, for a total value of $3,008,310.00. Following the completion of the sale, the executive vice president owned 58,543 shares in the company, valued at approximately $58,705,164.11. The trade was a 4.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 9,547 shares of company stock worth $9,496,950. 0.18% of the stock is currently owned by company insiders.

Costco Wholesale Stock Performance

Shares of Costco Wholesale stock opened at $986.27 on Friday. The firm has a market capitalization of $437.39 billion, a P/E ratio of 55.94, a price-to-earnings-growth ratio of 6.11 and a beta of 0.97. The company has a current ratio of 1.02, a quick ratio of 0.52 and a debt-to-equity ratio of 0.21. The business’s fifty day simple moving average is $1,005.02 and its 200 day simple moving average is $981.05. Costco Wholesale Corporation has a 12 month low of $793.00 and a 12 month high of $1,078.24.

Costco Wholesale (NASDAQ:COST) last issued its quarterly earnings results on Thursday, May 29th. The retailer reported $4.28 earnings per share for the quarter, topping analysts’ consensus estimates of $4.24 by $0.04. The company had revenue of $63.21 billion for the quarter, compared to the consensus estimate of $62.93 billion. Costco Wholesale had a net margin of 2.92% and a return on equity of 30.48%. The firm’s quarterly revenue was up 8.0% on a year-over-year basis. During the same period in the previous year, the firm earned $3.78 EPS. As a group, analysts anticipate that Costco Wholesale Corporation will post 18.03 EPS for the current year.

Costco Wholesale Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 16th. Stockholders of record on Friday, May 2nd were given a dividend of $1.30 per share. This is an increase from Costco Wholesale’s previous quarterly dividend of $1.16. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.53%. The ex-dividend date of this dividend was Friday, May 2nd. Costco Wholesale’s dividend payout ratio is currently 29.50%.

Costco Wholesale 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.