Meadow Creek Wealth Advisors LLC Has $535,000 Stock Position in Costco Wholesale Co. (NASDAQ:COST)

Meadow Creek Wealth Advisors LLC raised its holdings in Costco Wholesale Co. (NASDAQ:COST) by 82.8% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 731 shares of the retailer’s stock after purchasing an additional 331 shares during the quarter. Meadow Creek Wealth Advisors LLC’s holdings in Costco Wholesale were worth $535,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the business. Richelieu Gestion SA bought a new position in Costco Wholesale in the fourth quarter valued at about $25,000. Frank Rimerman Advisors LLC acquired a new stake in Costco Wholesale during the fourth quarter worth approximately $26,000. Morton Brown Family Wealth LLC grew its stake in Costco Wholesale by 200.0% during the fourth quarter. Morton Brown Family Wealth LLC now owns 45 shares of the retailer’s stock worth $30,000 after purchasing an additional 30 shares during the period. Wetzel Investment Advisors Inc. bought a new stake in Costco Wholesale in the fourth quarter worth approximately $30,000. Finally, Redmont Wealth Advisors LLC acquired a new position in Costco Wholesale in the first quarter valued at approximately $32,000. Institutional investors and hedge funds own 68.48% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on COST shares. Gordon Haskett lowered shares of Costco Wholesale from a “buy” rating to an “accumulate” rating and set a $775.00 price objective for the company. in a research note on Wednesday, April 3rd. BMO Capital Markets reiterated an “outperform” rating and set a $875.00 price objective (up previously from $800.00) on shares of Costco Wholesale in a report on Friday, May 31st. Truist Financial raised their target price on Costco Wholesale from $815.00 to $873.00 and gave the company a “buy” rating in a research note on Friday, May 31st. Wells Fargo & Company increased their price target on Costco Wholesale from $750.00 to $775.00 and gave the stock an “equal weight” rating in a report on Friday, May 31st. Finally, Barclays upped their target price on Costco Wholesale from $700.00 to $765.00 and gave the stock an “equal weight” 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 company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $758.70.

Costco Wholesale Price Performance

Shares of NASDAQ COST opened at $862.66 on Thursday. The firm has a market capitalization of $382.44 billion, a P/E ratio of 53.45, a P/E/G ratio of 5.68 and a beta of 0.78. The company has a quick ratio of 0.45, a current ratio of 0.94 and a debt-to-equity ratio of 0.27. The stock’s 50-day simple moving average is $807.29 and its two-hundred day simple moving average is $743.56. Costco Wholesale Co. has a twelve month low of $524.63 and a twelve month high of $873.96.

Costco Wholesale (NASDAQ:COST) last announced its earnings results on Thursday, May 30th. The retailer reported $3.78 earnings per share for the quarter, beating analysts’ consensus estimates of $3.70 by $0.08. Costco Wholesale had a net margin of 2.83% and a return on equity of 30.02%. The business had revenue of $58.52 billion for the quarter, compared to the consensus estimate of $58.16 billion. During the same period last year, the firm posted $3.43 earnings per share. Costco Wholesale’s quarterly revenue was up 9.1% on a year-over-year basis. As a group, equities analysts anticipate that Costco Wholesale Co. will post 15.98 EPS for the current fiscal year.

Costco Wholesale Increases Dividend

The business 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 is an increase from Costco Wholesale’s previous quarterly dividend of $1.02. This represents a $4.64 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date of this dividend was Thursday, April 25th. Costco Wholesale’s payout ratio is currently 28.75%.

Insider Buying and Selling

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

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.