Coastal Investment Advisors Inc. Boosts Position in Costco Wholesale Co. (NASDAQ:COST)

Coastal Investment Advisors Inc. lifted its holdings in shares of Costco Wholesale Co. (NASDAQ:COSTGet Rating) by 28.3% in the 1st quarter, Holdings Channel reports. The firm owned 3,456 shares of the retailer’s stock after acquiring an additional 763 shares during the period. Coastal Investment Advisors Inc.’s holdings in Costco Wholesale were worth $1,990,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Fortune 45 LLC lifted its position in Costco Wholesale by 8.6% in the first quarter. Fortune 45 LLC now owns 696 shares of the retailer’s stock valued at $401,000 after purchasing an additional 55 shares during the last quarter. Close Asset Management Ltd bought a new position in shares of Costco Wholesale during the fourth quarter valued at approximately $164,500,000. Poplar Forest Capital LLC raised its holdings in shares of Costco Wholesale by 5.2% during the fourth quarter. Poplar Forest Capital LLC now owns 526 shares of the retailer’s stock valued at $299,000 after acquiring an additional 26 shares in the last quarter. Mitchell & Pahl Private Wealth LLC raised its holdings in shares of Costco Wholesale by 6.2% during the fourth quarter. Mitchell & Pahl Private Wealth LLC now owns 1,599 shares of the retailer’s stock valued at $908,000 after acquiring an additional 93 shares in the last quarter. Finally, CHICAGO TRUST Co NA raised its holdings in shares of Costco Wholesale by 3.6% during the first quarter. CHICAGO TRUST Co NA now owns 6,081 shares of the retailer’s stock valued at $3,502,000 after acquiring an additional 209 shares in the last quarter. 67.52% of the stock is owned by institutional investors.

A number of equities analysts recently commented on COST shares. Citigroup decreased their target price on Costco Wholesale from $590.00 to $510.00 and set a “neutral” rating for the company in a report on Friday, May 27th. Deutsche Bank Aktiengesellschaft cut their target price on Costco Wholesale from $530.00 to $525.00 in a research note on Wednesday, May 25th. Credit Suisse Group dropped their price objective on Costco Wholesale from $570.00 to $550.00 and set a “neutral” rating on the stock in a research report on Friday, May 27th. Stifel Nicolaus increased their price objective on Costco Wholesale from $555.00 to $565.00 in a research report on Thursday, May 5th. Finally, Truist Financial increased their target price on Costco Wholesale from $503.00 to $543.00 and gave the company a “buy” rating in a report on Friday, May 27th. Six investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $569.56.

Shares of COST stock opened at $459.96 on Thursday. Costco Wholesale Co. has a 52-week low of $390.59 and a 52-week high of $612.27. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.48 and a current ratio of 1.04. The firm has a market capitalization of $203.74 billion, a P/E ratio of 36.22, a P/E/G ratio of 3.87 and a beta of 0.71. The stock has a 50 day moving average price of $496.50 and a 200 day moving average price of $522.53.

Costco Wholesale (NASDAQ:COSTGet Rating) last issued its quarterly earnings results on Thursday, May 26th. The retailer reported $3.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.03 by $0.01. Costco Wholesale had a return on equity of 29.71% and a net margin of 2.60%. The firm had revenue of $52.60 billion during the quarter, compared to analyst estimates of $51.49 billion. During the same period last year, the company earned $2.75 EPS. Costco Wholesale’s quarterly revenue was up 18.5% compared to the same quarter last year. As a group, sell-side analysts forecast that Costco Wholesale Co. will post 13.02 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, May 13th. Investors of record on Friday, April 29th were paid a dividend of $0.90 per share. This is a positive change from Costco Wholesale’s previous quarterly dividend of $0.79. This represents a $3.60 dividend on an annualized basis and a dividend yield of 0.78%. The ex-dividend date of this dividend was Thursday, April 28th. Costco Wholesale’s dividend payout ratio (DPR) is currently 28.35%.

In other Costco Wholesale news, EVP Claudine Adamo sold 500 shares of Costco Wholesale stock in a transaction on Friday, April 8th. The stock was sold at an average price of $602.03, for a total transaction of $301,015.00. Following the completion of the sale, the executive vice president now directly owns 9,939 shares of the company’s stock, valued at approximately $5,983,576.17. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Timothy L. Rose sold 4,000 shares of Costco Wholesale stock in a transaction on Tuesday, March 29th. The shares were sold at an average price of $566.29, for a total value of $2,265,160.00. The disclosure for this sale can be found here. Insiders have sold a total of 8,998 shares of company stock valued at $5,278,469 over the last three months. 0.22% of the stock is owned by corporate insiders.

About Costco Wholesale (Get Rating)

Costco Wholesale Corporation, together with its subsidiaries, engages in the operation of membership warehouses in the United States, Puerto Rico, Canada, the United Kingdom, Mexico, Japan, Korea, Australia, Spain, France, Iceland, China, and Taiwan. It offers branded and private-label products in a range of merchandise categories.

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Institutional Ownership by Quarter for Costco Wholesale (NASDAQ:COST)

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