Monterey Private Wealth Inc. Boosts Stake in Costco Wholesale Corporation $COST

Monterey Private Wealth Inc. raised its position in Costco Wholesale Corporation (NASDAQ:COST) by 1.3% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,036 shares of the retailer’s stock after buying an additional 50 shares during the period. Costco Wholesale accounts for 1.1% of Monterey Private Wealth Inc.’s investment portfolio, making the stock its 18th biggest holding. Monterey Private Wealth Inc.’s holdings in Costco Wholesale were worth $3,818,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Investment Management Corp VA ADV purchased a new stake in Costco Wholesale in the 4th quarter valued at about $25,000. Aspect Partners LLC increased its stake in shares of Costco Wholesale by 24.4% during the 1st quarter. Aspect Partners LLC now owns 56 shares of the retailer’s stock worth $53,000 after purchasing an additional 11 shares during the last quarter. Capital A Wealth Management LLC purchased a new stake in shares of Costco Wholesale during the 4th quarter worth approximately $58,000. Mascagni Wealth Management Inc. purchased a new stake in shares of Costco Wholesale during the 4th quarter worth approximately $59,000. Finally, Bank & Trust Co increased its stake in shares of Costco Wholesale by 20.4% during the 1st quarter. Bank & Trust Co now owns 65 shares of the retailer’s stock worth $61,000 after purchasing an additional 11 shares during the last quarter. Hedge funds and other institutional investors own 68.48% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on COST shares. Evercore ISI decreased their price target on shares of Costco Wholesale from $1,075.00 to $1,060.00 and set an “outperform” rating for the company in a research note on Tuesday, June 17th. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $1,100.00 price objective on shares of Costco Wholesale in a report on Monday, August 4th. Wall Street Zen raised shares of Costco Wholesale from a “hold” rating to a “buy” rating in a report on Friday, June 6th. Morgan Stanley raised their price objective 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. Finally, Loop Capital cut their price objective on shares of Costco Wholesale from $1,115.00 to $1,110.00 and set a “buy” rating for the company in a report on Thursday, May 29th. Seventeen analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $1,050.00.

Insider Activity

In other news, EVP Pierre Riel sold 2,000 shares of the firm’s stock in a transaction on Friday, June 6th. The shares were sold at an average price of $1,014.15, for a total transaction of $2,028,300.00. Following the sale, the executive vice president owned 8,210 shares in the company, valued at approximately $8,326,171.50. This trade represents a 19.59% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Susan L. Decker sold 547 shares of the firm’s stock in a transaction on Wednesday, June 18th. The shares were sold at an average price of $980.00, for a total transaction of $536,060.00. Following the sale, the director owned 11,531 shares in the company, valued at approximately $11,300,380. This trade represents a 4.53% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 10,147 shares of company stock worth $10,067,740. Corporate insiders own 0.18% of the company’s stock.

Costco Wholesale Stock Up 0.9%

Shares of NASDAQ:COST opened at $949.52 on Thursday. The firm has a fifty day moving average price of $967.76 and a two-hundred day moving average price of $983.35. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.02 and a quick ratio of 0.52. Costco Wholesale Corporation has a one year low of $867.16 and a one year high of $1,078.23. The company has a market cap of $421.09 billion, a price-to-earnings ratio of 53.86, a PEG ratio of 5.85 and a beta of 0.96.

Costco Wholesale (NASDAQ:COST) last announced its quarterly earnings results on Thursday, May 29th. The retailer reported $4.28 EPS for the quarter, beating the consensus estimate of $4.24 by $0.04. The firm had revenue of $63.21 billion during 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 business’s quarterly revenue was up 8.0% compared to the same quarter last year. During the same period last year, the firm earned $3.78 EPS. Analysts anticipate that Costco Wholesale Corporation will post 18.03 EPS for the current fiscal year.

Costco Wholesale Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Friday, August 1st were given a dividend of $1.30 per share. The ex-dividend date was Friday, August 1st. This represents a $5.20 annualized dividend and a dividend yield of 0.5%. Costco Wholesale’s dividend payout ratio (DPR) is 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.