StrongBox Wealth LLC Raises Stock Holdings in Costco Wholesale Corporation $COST

StrongBox Wealth LLC increased its position in Costco Wholesale Corporation (NASDAQ:COST) by 16.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,161 shares of the retailer’s stock after buying an additional 1,157 shares during the quarter. Costco Wholesale accounts for approximately 2.3% of StrongBox Wealth LLC’s holdings, making the stock its 16th biggest holding. StrongBox Wealth LLC’s holdings in Costco Wholesale were worth $7,038,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. Assenagon Asset Management S.A. increased its position in Costco Wholesale by 1,586.8% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,137,436 shares of the retailer’s stock valued at $980,857,000 after purchasing an additional 1,070,005 shares during the period. Amundi increased its position in Costco Wholesale by 45.0% during the 3rd quarter. Amundi now owns 3,176,606 shares of the retailer’s stock valued at $2,893,697,000 after purchasing an additional 986,182 shares during the period. Voloridge Investment Management LLC increased its position in Costco Wholesale by 112.2% during the 3rd quarter. Voloridge Investment Management LLC now owns 477,425 shares of the retailer’s stock valued at $441,919,000 after purchasing an additional 252,453 shares during the period. Worldquant Millennium Advisors LLC increased its position in Costco Wholesale by 638.7% during the 2nd quarter. Worldquant Millennium Advisors LLC now owns 227,310 shares of the retailer’s stock valued at $225,023,000 after purchasing an additional 196,537 shares during the period. Finally, Canada Pension Plan Investment Board increased its position in Costco Wholesale by 55.0% during the 2nd quarter. Canada Pension Plan Investment Board now owns 490,871 shares of the retailer’s stock valued at $485,933,000 after purchasing an additional 174,082 shares during the period. 68.48% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Costco Wholesale from $1,050.00 to $1,060.00 and gave the company an “overweight” rating in a research report on Friday, March 6th. Gordon Haskett boosted their price objective on shares of Costco Wholesale from $1,000.00 to $1,100.00 in a research report on Tuesday, February 3rd. DA Davidson reissued a “neutral” rating and set a $1,000.00 price objective on shares of Costco Wholesale in a research report on Friday, March 6th. UBS Group set a $1,175.00 price objective on shares of Costco Wholesale in a research report on Friday, March 6th. Finally, HSBC reduced their price objective on shares of Costco Wholesale from $1,060.00 to $1,045.00 and set a “hold” rating on the stock in a research report on Friday, December 12th. Twenty-two equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $1,039.13.

Insider Transactions at Costco Wholesale

In related news, EVP Teresa A. Jones sold 850 shares of the company’s stock in a transaction dated Wednesday, January 21st. The shares were sold at an average price of $986.26, for a total value of $838,321.00. Following the transaction, the executive vice president owned 4,228 shares in the company, valued at $4,169,907.28. The trade was a 16.74% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Susan L. Decker sold 458 shares of the company’s stock in a transaction dated Friday, January 16th. The stock was sold at an average price of $955.00, for a total transaction of $437,390.00. Following the completion of the transaction, the director owned 8,532 shares in the company, valued at approximately $8,148,060. The trade was a 5.09% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 5,038 shares of company stock worth $4,790,896. 0.10% of the stock is owned by insiders.

Costco Wholesale Stock Up 0.4%

NASDAQ:COST opened at $1,018.55 on Tuesday. The firm’s 50-day moving average price is $990.50 and its 200-day moving average price is $940.81. The company has a market capitalization of $451.88 billion, a PE ratio of 52.97, a P/E/G ratio of 5.01 and a beta of 0.99. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.06 and a quick ratio of 0.59. Costco Wholesale Corporation has a 1-year low of $844.06 and a 1-year high of $1,067.08.

Costco Wholesale (NASDAQ:COST) last released its earnings results on Thursday, March 5th. The retailer reported $4.58 earnings per share for the quarter, topping analysts’ consensus estimates of $4.55 by $0.03. The firm had revenue of $69.60 billion for the quarter, compared to the consensus estimate of $68.96 billion. Costco Wholesale had a net margin of 2.99% and a return on equity of 28.57%. The company’s revenue was up 9.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $4.02 EPS. On average, equities analysts predict that Costco Wholesale Corporation will post 18.03 EPS for the current fiscal year.

Costco Wholesale Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 13th. Stockholders of record on Friday, January 30th were given a $1.30 dividend. The ex-dividend date of this dividend was Friday, January 30th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.5%. Costco Wholesale’s dividend payout ratio is currently 27.04%.

Costco Wholesale Profile

Costco Wholesale Corporation operates a global chain of membership-only warehouse clubs that sell a wide array of merchandise in bulk at discounted prices. The company’s product mix includes groceries, fresh and frozen food, household goods, electronics, apparel, and seasonal items, augmented by its prominent private-label brand, Kirkland Signature. Costco’s business model centers on annual membership fees and high-volume, low-margin sales, designed to drive repeat purchasing and strong customer loyalty among both consumers and small-business buyers.

Beyond merchandise, Costco provides a range of ancillary services that complement its warehouses, including gasoline stations, pharmacy and optical services, hearing aid centers, photo services, and travel and insurance products.