IMG Wealth Management Inc. Purchases Shares of 255 Costco Wholesale Co. (NASDAQ:COST)

IMG Wealth Management Inc. purchased a new stake in Costco Wholesale Co. (NASDAQ:COST) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 255 shares of the retailer’s stock, valued at approximately $234,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in COST. RPg Family Wealth Advisory LLC purchased a new position in Costco Wholesale in the 3rd quarter valued at approximately $29,000. Synergy Investment Management LLC purchased a new position in Costco Wholesale in the 4th quarter valued at approximately $31,000. NewSquare Capital LLC boosted its position in Costco Wholesale by 250.0% in the 4th quarter. NewSquare Capital LLC now owns 35 shares of the retailer’s stock valued at $32,000 after buying an additional 25 shares during the period. Endeavor Private Wealth Inc. purchased a new position in Costco Wholesale in the 4th quarter valued at approximately $33,000. Finally, Collier Financial acquired a new stake in shares of Costco Wholesale in the 4th quarter valued at $35,000. Hedge funds and other institutional investors own 68.48% of the company’s stock.

Costco Wholesale Stock Performance

Shares of COST opened at $903.92 on Monday. The company has a current ratio of 0.98, a quick ratio of 0.43 and a debt-to-equity ratio of 0.23. The stock has a market cap of $401.25 billion, a P/E ratio of 53.08, a PEG ratio of 6.15 and a beta of 0.82. The company has a 50-day moving average of $989.80 and a two-hundred day moving average of $944.86. Costco Wholesale Co. has a 12-month low of $697.27 and a 12-month high of $1,078.24.

Costco Wholesale (NASDAQ:COST) last announced its earnings results on Thursday, March 6th. The retailer reported $4.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.09 by ($0.07). The business had revenue of $63.72 billion for the quarter, compared to analyst estimates of $63.02 billion. Costco Wholesale had a return on equity of 32.31% and a net margin of 2.93%. As a group, research analysts predict that Costco Wholesale Co. will post 18.03 EPS for the current fiscal year.

Costco Wholesale Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 21st. Shareholders of record on Friday, February 7th were given a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a yield of 0.51%. The ex-dividend date was Friday, February 7th. Costco Wholesale’s payout ratio is currently 27.09%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Wells Fargo & Company raised their price objective on shares of Costco Wholesale from $950.00 to $1,000.00 and gave the company an “equal weight” rating in a report on Friday, December 13th. Citigroup raised their price objective on shares of Costco Wholesale from $800.00 to $1,060.00 and gave the company a “neutral” rating in a report on Wednesday, December 18th. Truist Financial raised their price objective on shares of Costco Wholesale from $935.00 to $995.00 and gave the company a “hold” rating in a report on Friday, March 7th. Raymond James raised their price objective on shares of Costco Wholesale from $990.00 to $1,030.00 and gave the company an “overweight” rating in a report on Thursday, December 12th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Costco Wholesale from $1,065.00 to $1,070.00 and gave the company an “overweight” rating in a report on Friday, March 7th. Nine analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $1,030.43.

Insiders Place Their Bets

In other news, CEO Roland Michael Vachris sold 3,600 shares of the business’s stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $931.00, for a total value of $3,351,600.00. Following the completion of the transaction, the chief executive officer now owns 41,077 shares of the company’s stock, valued at $38,242,687. The trade was a 8.06 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.18% of the stock is currently owned by company insiders.

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.