Silverlake Wealth Management LLC Acquires 104 Shares of Costco Wholesale Corporation (NASDAQ:COST)

Silverlake Wealth Management LLC lifted its holdings in shares of Costco Wholesale Corporation (NASDAQ:COST) by 4.6% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,352 shares of the retailer’s stock after acquiring an additional 104 shares during the quarter. Costco Wholesale makes up 0.8% of Silverlake Wealth Management LLC’s portfolio, making the stock its 28th biggest position. Silverlake Wealth Management LLC’s holdings in Costco Wholesale were worth $2,225,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Personal CFO Solutions LLC raised its position in shares of Costco Wholesale by 12.4% in the 1st quarter. Personal CFO Solutions LLC now owns 1,519 shares of the retailer’s stock worth $1,436,000 after acquiring an additional 167 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Costco Wholesale by 2.7% in the 4th quarter. Geode Capital Management LLC now owns 9,739,175 shares of the retailer’s stock worth $8,901,249,000 after acquiring an additional 252,118 shares in the last quarter. F&V Capital Management LLC bought a new position in shares of Costco Wholesale in the 1st quarter worth approximately $236,000. Umpqua Bank increased its position in Costco Wholesale by 14.7% during the 4th quarter. Umpqua Bank now owns 4,507 shares of the retailer’s stock valued at $4,134,000 after buying an additional 577 shares in the last quarter. Finally, Curat Global LLC bought a new position in Costco Wholesale during the 1st quarter valued at approximately $241,000. Institutional investors own 68.48% of the company’s stock.

Costco Wholesale Price Performance

NASDAQ COST opened at $985.84 on Wednesday. The company has a market capitalization of $437.20 billion, a PE ratio of 55.92, a price-to-earnings-growth ratio of 6.17 and a beta of 0.97. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.52 and a current ratio of 1.02. The business’s fifty day moving average is $1,005.36 and its 200 day moving average is $981.68. Costco Wholesale Corporation has a fifty-two week low of $793.00 and a fifty-two week high of $1,078.24.

Costco Wholesale (NASDAQ:COST) last released its earnings results on Thursday, May 29th. The retailer reported $4.28 earnings per share for the quarter, beating the consensus estimate 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 return on equity of 30.48% and a net margin of 2.92%. Costco Wholesale’s quarterly revenue was up 8.0% compared to the same quarter last year. During the same period in the previous year, the business earned $3.78 earnings per share. Sell-side analysts predict that Costco Wholesale Corporation will post 18.03 earnings per share for the current year.

Costco Wholesale Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 16th. Shareholders of record on Friday, May 2nd were issued a dividend of $1.30 per share. The ex-dividend date was Friday, May 2nd. This is a boost from Costco Wholesale’s previous quarterly dividend of $1.16. This represents a $5.20 dividend on an annualized basis and a yield of 0.53%. Costco Wholesale’s dividend payout ratio (DPR) is currently 29.50%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on COST shares. Evercore ISI reduced their price objective on Costco Wholesale from $1,075.00 to $1,060.00 and set an “outperform” rating for the company in a research report on Tuesday, June 17th. Truist Financial raised their price objective on Costco Wholesale from $995.00 to $1,042.00 and gave the company a “hold” rating in a research report on Friday, May 30th. Stifel Nicolaus set a $1,035.00 price objective on Costco Wholesale in a research report on Thursday, May 29th. Mizuho started coverage on Costco Wholesale in a research report on Friday, April 11th. They set a “neutral” rating and a $975.00 price objective for the company. Finally, Cfra Research raised Costco Wholesale from a “hold” rating to a “moderate buy” rating in a research report on Friday, April 4th. Nine equities research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $1,034.79.

Insiders Place Their Bets

In other Costco Wholesale news, EVP Patrick J. Callans sold 3,000 shares of the firm’s stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $1,002.77, for a total transaction of $3,008,310.00. Following the sale, the executive vice president directly owned 58,543 shares of the company’s stock, valued at $58,705,164.11. This trade represents a 4.87% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Pierre Riel sold 2,000 shares of the firm’s stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $1,014.15, for a total value of $2,028,300.00. Following the sale, the executive vice president directly 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 disclosure for this sale can be found here. Insiders sold 9,547 shares of company stock valued at $9,496,950 in the last ninety days. Insiders own 0.18% of the company’s stock.

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.