Lake Street Private Wealth LLC Has $6.30 Million Stock Position in Costco Wholesale Co. (NASDAQ:COST)

Lake Street Private Wealth LLC grew its position in Costco Wholesale Co. (NASDAQ:COST) by 4.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,605 shares of the retailer’s stock after purchasing an additional 401 shares during the period. Costco Wholesale comprises about 0.9% of Lake Street Private Wealth LLC’s holdings, making the stock its 24th largest position. Lake Street Private Wealth LLC’s holdings in Costco Wholesale were worth $6,304,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in shares of Costco Wholesale by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 40,360,168 shares of the retailer’s stock worth $26,640,940,000 after buying an additional 485,051 shares during the period. Norges Bank acquired a new position in Costco Wholesale during the 4th quarter worth $3,628,694,000. Capital World Investors boosted its holdings in Costco Wholesale by 3.9% during the fourth quarter. Capital World Investors now owns 3,539,245 shares of the retailer’s stock valued at $2,336,198,000 after acquiring an additional 132,292 shares during the period. International Assets Investment Management LLC grew its position in shares of Costco Wholesale by 61,693.5% in the fourth quarter. International Assets Investment Management LLC now owns 3,105,124 shares of the retailer’s stock valued at $2,049,630,000 after purchasing an additional 3,100,099 shares during the last quarter. Finally, Fisher Asset Management LLC increased its stake in shares of Costco Wholesale by 3.2% in the fourth quarter. Fisher Asset Management LLC now owns 2,794,480 shares of the retailer’s stock worth $1,844,581,000 after purchasing an additional 85,398 shares during the period. 68.48% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

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

Wall Street Analyst Weigh In

A number of analysts have issued reports on COST shares. Argus raised their target price on Costco Wholesale from $805.00 to $900.00 and gave the company a “buy” rating in a report on Tuesday, May 28th. Wells Fargo & Company raised their price objective on shares of Costco Wholesale from $750.00 to $775.00 and gave the stock an “equal weight” rating in a research note on Friday, May 31st. Loop Capital boosted 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. Oppenheimer lifted their price target on shares of Costco Wholesale from $850.00 to $905.00 and gave the company an “outperform” rating in a report on Thursday, June 6th. Finally, TD Cowen lifted their target price on shares of Costco Wholesale from $777.00 to $850.00 and gave the company a “buy” rating in a research note on Friday, May 31st. Seven investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. According to data from MarketBeat.com, Costco Wholesale presently has a consensus rating of “Moderate Buy” and an average price target of $758.70.

Costco Wholesale Stock Up 0.4 %

Costco Wholesale stock opened at $862.66 on Thursday. Costco Wholesale Co. has a fifty-two week low of $524.63 and a fifty-two week 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 firm has a market capitalization of $382.44 billion, a price-to-earnings ratio of 53.45, a PEG ratio of 5.68 and a beta of 0.78. The company’s 50 day simple moving average is $807.29 and its 200 day simple moving average is $743.56.

Costco Wholesale (NASDAQ:COST) last announced its quarterly 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 company had revenue of $58.52 billion during the quarter, compared to analyst estimates of $58.16 billion. Costco Wholesale had a net margin of 2.83% and a return on equity of 30.02%. The firm’s revenue was up 9.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.43 EPS. As a group, sell-side analysts anticipate that Costco Wholesale Co. will post 15.98 EPS for the current year.

Costco Wholesale Increases Dividend

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