Mutual of America Capital Management LLC Acquires 2,674 Shares of Costco Wholesale Co. (NASDAQ:COST)

Mutual of America Capital Management LLC boosted its stake in shares of Costco Wholesale Co. (NASDAQ:COST) by 4.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 61,962 shares of the retailer’s stock after purchasing an additional 2,674 shares during the quarter. Costco Wholesale comprises approximately 0.5% of Mutual of America Capital Management LLC’s investment portfolio, making the stock its 23rd biggest position. Mutual of America Capital Management LLC’s holdings in Costco Wholesale were worth $45,395,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Enterprise Financial Services Corp increased its position in shares of Costco Wholesale by 1.6% during the fourth quarter. Enterprise Financial Services Corp now owns 892 shares of the retailer’s stock valued at $589,000 after buying an additional 14 shares during the period. Hoxton Planning & Management LLC lifted its stake in Costco Wholesale by 0.9% in the 1st quarter. Hoxton Planning & Management LLC now owns 1,535 shares of the retailer’s stock worth $1,125,000 after purchasing an additional 14 shares in the last quarter. Investment Research & Advisory Group Inc. boosted its holdings in Costco Wholesale by 0.3% in the 1st quarter. Investment Research & Advisory Group Inc. now owns 4,472 shares of the retailer’s stock valued at $3,276,000 after purchasing an additional 14 shares during the period. Resurgent Financial Advisors LLC grew its position in shares of Costco Wholesale by 1.0% during the 1st quarter. Resurgent Financial Advisors LLC now owns 1,371 shares of the retailer’s stock valued at $1,004,000 after purchasing an additional 14 shares in the last quarter. Finally, Arlington Capital Management Inc. increased its holdings in shares of Costco Wholesale by 1.1% in the first quarter. Arlington Capital Management Inc. now owns 1,295 shares of the retailer’s stock worth $949,000 after purchasing an additional 14 shares during the period. 68.48% of the stock is currently owned by institutional investors and hedge funds.

Costco Wholesale Stock Performance

Shares of NASDAQ:COST traded down $4.83 during midday trading on Monday, reaching $880.84. 1,608,349 shares of the company’s stock traded hands, compared to its average volume of 1,960,270. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.45 and a current ratio of 0.94. Costco Wholesale Co. has a one year low of $525.06 and a one year high of $887.95. The company has a market cap of $390.50 billion, a price-to-earnings ratio of 54.58, a P/E/G ratio of 5.85 and a beta of 0.78. The stock has a 50 day moving average of $819.10 and a 200 day moving average of $749.24.

Costco Wholesale (NASDAQ:COST) last posted its earnings results on Thursday, May 30th. The retailer reported $3.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.70 by $0.08. The business had revenue of $58.52 billion for 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 quarter in the prior year, the business earned $3.43 EPS. As a group, equities research analysts anticipate that Costco Wholesale Co. will post 15.98 EPS for the current fiscal year.

Costco Wholesale Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 10th. Shareholders of record on Friday, April 26th were given a $1.16 dividend. This represents a $4.64 annualized dividend and a yield of 0.53%. This is a boost from Costco Wholesale’s previous quarterly dividend of $1.02. The ex-dividend date was Thursday, April 25th. Costco Wholesale’s dividend payout ratio (DPR) is presently 28.75%.

Analysts Set New Price Targets

Several equities analysts recently commented on COST shares. Truist Financial boosted their target price on Costco Wholesale from $815.00 to $873.00 and gave the stock a “buy” rating in a research report on Friday, May 31st. Evercore ISI boosted their price objective on Costco Wholesale from $860.00 to $890.00 and gave the stock an “outperform” rating in a report on Thursday, June 20th. StockNews.com raised shares of Costco Wholesale from a “hold” rating to a “buy” rating in a research note on Sunday, June 2nd. Telsey Advisory Group reissued an “outperform” rating and issued a $900.00 price target on shares of Costco Wholesale in a research note on Monday. Finally, Citigroup raised their price objective on shares of Costco Wholesale from $710.00 to $800.00 and gave the company a “neutral” rating in a research report on Friday, May 31st. Seven equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $766.73.

Insider Buying and Selling at Costco Wholesale

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 transaction of $567,445.10. Following the completion of the sale, the executive vice president now directly owns 10,000 shares of the company’s stock, valued at $7,228,600. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate 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.