Sandy Cove Advisors LLC Buys 100 Shares of Costco Wholesale Co. (NASDAQ:COST)

Sandy Cove Advisors LLC raised its position in shares of Costco Wholesale Co. (NASDAQ:COST) by 14.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 788 shares of the retailer’s stock after acquiring an additional 100 shares during the period. Sandy Cove Advisors LLC’s holdings in Costco Wholesale were worth $578,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. D.B. Root & Company LLC boosted its stake in Costco Wholesale by 4.7% during the 1st quarter. D.B. Root & Company LLC now owns 3,726 shares of the retailer’s stock valued at $2,730,000 after purchasing an additional 166 shares during the period. Trilogy Capital Inc. bought a new stake in shares of Costco Wholesale in the first quarter valued at approximately $213,000. Red Door Wealth Management LLC grew its stake in shares of Costco Wholesale by 4.3% in the first quarter. Red Door Wealth Management LLC now owns 12,089 shares of the retailer’s stock worth $8,857,000 after acquiring an additional 498 shares during the last quarter. Cornerstone Wealth Group LLC increased its position in Costco Wholesale by 17.5% during the first quarter. Cornerstone Wealth Group LLC now owns 5,408 shares of the retailer’s stock worth $3,962,000 after acquiring an additional 807 shares during the period. Finally, Richardson Capital Management LLC raised its stake in Costco Wholesale by 370.4% during the 1st quarter. Richardson Capital Management LLC now owns 127 shares of the retailer’s stock valued at $93,000 after purchasing an additional 100 shares during the last quarter. 68.48% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. StockNews.com upgraded shares of Costco Wholesale from a “hold” rating to a “buy” rating in a report on Sunday, June 2nd. Tigress Financial upped their price target on Costco Wholesale from $870.00 to $975.00 and gave the company a “buy” rating in a report on Tuesday, June 25th. Wells Fargo & Company lifted their price objective on Costco Wholesale from $750.00 to $775.00 and gave the stock an “equal weight” rating in a report on Friday, May 31st. Oppenheimer upped their target price on Costco Wholesale from $850.00 to $905.00 and gave the company an “outperform” rating in a research note on Thursday, June 6th. Finally, Roth Mkm reissued a “neutral” rating and issued a $676.00 price target (up previously from $650.00) on shares of Costco Wholesale in a report on Friday, May 31st. Seven analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $756.85.

Costco Wholesale Trading Down 0.1 %

Shares of NASDAQ COST opened at $849.99 on Monday. The company has a current ratio of 0.94, a quick ratio of 0.45 and a debt-to-equity ratio of 0.27. The company has a market cap of $376.83 billion, a PE ratio of 52.66, a P/E/G ratio of 5.63 and a beta of 0.78. The company has a 50-day moving average of $801.95 and a two-hundred day moving average of $740.64. Costco Wholesale Co. has a 1-year low of $524.63 and a 1-year high of $873.96.

Costco Wholesale (NASDAQ:COST) last posted its quarterly earnings data 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 firm had revenue of $58.52 billion for the quarter, compared to the consensus estimate of $58.16 billion. Costco Wholesale had a return on equity of 30.02% and a net margin of 2.83%. 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 analysts expect that Costco Wholesale Co. will post 15.96 earnings per share for the current fiscal year.

Costco Wholesale Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 10th. Stockholders of record on Friday, April 26th were given a dividend of $1.16 per share. This is a boost from Costco Wholesale’s previous quarterly dividend of $1.02. The ex-dividend date of this dividend was Thursday, April 25th. This represents a $4.64 annualized dividend and a dividend yield of 0.55%. Costco Wholesale’s payout ratio is currently 28.75%.

Insider Buying and Selling at Costco Wholesale

In related news, EVP Russell D. Miller sold 785 shares of the 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 sale, the executive vice president now directly owns 10,000 shares in the company, valued at approximately $7,228,600. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.18% of the company’s stock.

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.