Massachusetts Wealth Management Purchases 210 Shares of Costco Wholesale Co. (NASDAQ:COST)

Massachusetts Wealth Management raised its position in Costco Wholesale Co. (NASDAQ:COST) by 8.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,847 shares of the retailer’s stock after purchasing an additional 210 shares during the period. Costco Wholesale accounts for 1.5% of Massachusetts Wealth Management’s investment portfolio, making the stock its 23rd biggest position. Massachusetts Wealth Management’s holdings in Costco Wholesale were worth $2,086,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. Alps Advisors Inc. raised its position in shares of Costco Wholesale by 30.1% during the 3rd quarter. Alps Advisors Inc. now owns 18,635 shares of the retailer’s stock valued at $10,528,000 after buying an additional 4,310 shares in the last quarter. Elevatus Welath Management raised its position in shares of Costco Wholesale by 39.4% during the 3rd quarter. Elevatus Welath Management now owns 577 shares of the retailer’s stock valued at $326,000 after buying an additional 163 shares in the last quarter. Legacy Advisors LLC raised its position in shares of Costco Wholesale by 6.9% during the 3rd quarter. Legacy Advisors LLC now owns 2,729 shares of the retailer’s stock valued at $1,542,000 after buying an additional 176 shares in the last quarter. Lakeshore Financial Planning Inc. purchased a new stake in shares of Costco Wholesale during the 3rd quarter valued at $376,000. Finally, Laird Norton Trust Company LLC raised its position in shares of Costco Wholesale by 13.8% during the 3rd quarter. Laird Norton Trust Company LLC now owns 2,884 shares of the retailer’s stock valued at $1,629,000 after buying an additional 350 shares in the last quarter. 68.48% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently commented on COST. DA Davidson reiterated a “neutral” rating and issued a $680.00 target price on shares of Costco Wholesale in a research report on Thursday, April 11th. Gordon Haskett cut shares of Costco Wholesale from a “buy” rating to an “accumulate” rating and set a $775.00 target price on the stock. in a research report on Wednesday, April 3rd. Truist Financial lifted their target price on shares of Costco Wholesale from $815.00 to $873.00 and gave the stock a “buy” rating in a research report on Friday, May 31st. Loop Capital lifted their target price on shares of Costco Wholesale from $890.00 to $940.00 and gave the stock a “buy” rating in a research report on Friday, June 14th. Finally, Telsey Advisory Group lifted their target price on shares of Costco Wholesale from $850.00 to $900.00 and gave the stock an “outperform” rating in a research report on Thursday, June 6th. Seven research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $758.70.

Insiders Place Their Bets

In other Costco Wholesale news, EVP Russell D. Miller sold 785 shares of the company’s stock in a transaction that occurred on Wednesday, April 17th. The shares were sold at an average price of $722.86, for a total value of $567,445.10. Following the completion of the transaction, the executive vice president now directly owns 10,000 shares in the company, valued at $7,228,600. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.18% of the company’s stock.

Costco Wholesale Stock Up 0.4 %

NASDAQ:COST traded up $3.30 during mid-day trading on Thursday, hitting $862.66. 814,423 shares of the company’s stock were exchanged, compared to its average volume of 1,709,054. Costco Wholesale Co. has a one year low of $524.63 and a one year high of $873.96. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.94 and a quick ratio of 0.45. The business has a fifty day moving average price of $807.29 and a 200 day moving average price of $743.56. The company has a market cap of $382.44 billion, a PE ratio of 53.45, a P/E/G ratio of 5.68 and a beta of 0.78.

Costco Wholesale (NASDAQ:COST) last issued its earnings results on Thursday, May 30th. The retailer reported $3.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.70 by $0.08. The business had revenue of $58.52 billion during the quarter, compared to analysts’ expectations of $58.16 billion. Costco Wholesale had a net margin of 2.83% and a return on equity of 30.02%. The business’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same period in the previous year, the company earned $3.43 earnings per share. Equities analysts predict that Costco Wholesale Co. will post 15.98 EPS for the current year.

Costco Wholesale Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 10th. Shareholders of record on Friday, April 26th were issued a dividend of $1.16 per share. This is a boost from Costco Wholesale’s previous quarterly dividend of $1.02. This represents a $4.64 dividend on an annualized basis and a yield of 0.54%. The ex-dividend date of this dividend was Thursday, April 25th. Costco Wholesale’s dividend payout ratio is currently 28.75%.

About Costco Wholesale

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.