King Wealth Management Group Acquires 129 Shares of Costco Wholesale Corporation (NASDAQ:COST)

King Wealth Management Group increased its holdings in shares of Costco Wholesale Corporation (NASDAQ:COST) by 1.0% in the first quarter, Holdings Channel.com reports. The firm owned 12,859 shares of the retailer’s stock after purchasing an additional 129 shares during the quarter. Costco Wholesale makes up 1.8% of King Wealth Management Group’s holdings, making the stock its 14th largest holding. King Wealth Management Group’s holdings in Costco Wholesale were worth $12,162,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Peninsula Wealth LLC increased its holdings in Costco Wholesale by 1.2% in the 4th quarter. Peninsula Wealth LLC now owns 818 shares of the retailer’s stock valued at $749,000 after purchasing an additional 10 shares in the last quarter. Bosun Asset Management LLC boosted its position in Costco Wholesale by 1.6% in the 4th quarter. Bosun Asset Management LLC now owns 636 shares of the retailer’s stock valued at $583,000 after buying an additional 10 shares during the last quarter. Corps Capital Advisors LLC boosted its position in Costco Wholesale by 0.7% in the 1st quarter. Corps Capital Advisors LLC now owns 1,547 shares of the retailer’s stock valued at $1,463,000 after buying an additional 10 shares during the last quarter. NFP Retirement Inc. boosted its position in Costco Wholesale by 1.1% in the 4th quarter. NFP Retirement Inc. now owns 980 shares of the retailer’s stock valued at $898,000 after buying an additional 11 shares during the last quarter. Finally, Coppell Advisory Solutions LLC boosted its position in Costco Wholesale by 0.3% in the 4th quarter. Coppell Advisory Solutions LLC now owns 3,437 shares of the retailer’s stock valued at $3,163,000 after buying an additional 11 shares during the last quarter. 68.48% of the stock is owned by institutional investors.

Costco Wholesale Stock Performance

NASDAQ:COST opened at $927.51 on Thursday. The firm’s 50-day moving average is $986.03 and its 200-day moving average is $983.48. Costco Wholesale Corporation has a 52-week low of $793.00 and a 52-week high of $1,078.23. 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 company has a market cap of $411.33 billion, a price-to-earnings ratio of 52.61, a PEG ratio of 5.81 and a beta of 0.97.

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

Costco Wholesale Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Friday, August 1st will be paid a $1.30 dividend. The ex-dividend date is Friday, August 1st. This represents a $5.20 dividend on an annualized basis and a yield of 0.56%. Costco Wholesale’s payout ratio is currently 29.50%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on COST shares. Stifel Nicolaus set a $1,035.00 price target on shares of Costco Wholesale in a research report on Thursday, May 29th. Evercore ISI reduced their price target on shares of Costco Wholesale from $1,075.00 to $1,060.00 and set an “outperform” rating on the stock in a research report on Tuesday, June 17th. Loop Capital reduced their price target on shares of Costco Wholesale from $1,115.00 to $1,110.00 and set a “buy” rating on the stock in a research report on Thursday, May 29th. Wall Street Zen raised shares of Costco Wholesale from a “hold” rating to a “buy” rating in a report on Friday, June 6th. Finally, Morgan Stanley raised their target price on shares of Costco Wholesale from $1,150.00 to $1,225.00 and gave the stock an “overweight” rating in a report on Friday, May 30th. Nine research analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $1,037.48.

Insider Buying and Selling at Costco Wholesale

In related news, EVP Pierre Riel sold 2,000 shares of the company’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 owned 8,210 shares of the company’s stock, valued at $8,326,171.50. The trade was a 19.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Patrick J. Callans sold 3,000 shares of the company’s stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $1,002.77, for a total transaction of $3,008,310.00. Following the completion of the sale, the executive vice president directly owned 58,543 shares in the company, valued at approximately $58,705,164.11. The trade was a 4.87% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 9,547 shares of company stock worth $9,472,510. 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.