Concord Wealth Partners Acquires 859 Shares of Costco Wholesale Co. (NASDAQ:COST)

Concord Wealth Partners lifted its holdings in Costco Wholesale Co. (NASDAQ:COST) by 44.2% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,804 shares of the retailer’s stock after purchasing an additional 859 shares during the period. Concord Wealth Partners’ holdings in Costco Wholesale were worth $1,851,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. B. Riley Wealth Advisors Inc. raised its stake in Costco Wholesale by 1.0% during the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 28,855 shares of the retailer’s stock worth $16,302,000 after acquiring an additional 273 shares during the period. Keating Investment Counselors Inc. raised its stake in Costco Wholesale by 43.0% during the 3rd quarter. Keating Investment Counselors Inc. now owns 2,643 shares of the retailer’s stock worth $1,493,000 after acquiring an additional 795 shares during the period. Cerity Partners LLC raised its stake in Costco Wholesale by 28.9% during the 4th quarter. Cerity Partners LLC now owns 272,288 shares of the retailer’s stock worth $179,822,000 after acquiring an additional 61,122 shares during the period. Rice Partnership LLC raised its stake in Costco Wholesale by 21.0% during the 3rd quarter. Rice Partnership LLC now owns 11,741 shares of the retailer’s stock worth $6,633,000 after acquiring an additional 2,038 shares during the period. Finally, Rappaport Reiches Capital Management LLC raised its stake in Costco Wholesale by 23.5% during the 4th quarter. Rappaport Reiches Capital Management LLC now owns 814 shares of the retailer’s stock worth $538,000 after acquiring an additional 155 shares during the period. Institutional investors own 68.48% of the company’s stock.

Insider Activity at Costco Wholesale

In other Costco Wholesale news, EVP Claudine Adamo sold 1,500 shares of Costco Wholesale stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $714.83, for a total value of $1,072,245.00. Following the transaction, the executive vice president now owns 6,695 shares in the company, valued at $4,785,786.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Russell D. Miller sold 785 shares of the business’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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Claudine Adamo sold 1,500 shares of the business’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $714.83, for a total value of $1,072,245.00. Following the sale, the executive vice president now owns 6,695 shares in the company, valued at approximately $4,785,786.85. The disclosure for this sale can be found here. Insiders sold 3,727 shares of company stock worth $2,682,948 over the last three months. 0.18% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have commented on COST. Telsey Advisory Group restated an “outperform” rating and set a $800.00 target price on shares of Costco Wholesale in a research note on Thursday, April 11th. Roth Mkm increased their price objective on shares of Costco Wholesale from $601.00 to $650.00 and gave the company a “neutral” rating in a report on Thursday, April 11th. DA Davidson reaffirmed a “neutral” rating and set a $680.00 price objective on shares of Costco Wholesale in a report on Thursday, April 11th. StockNews.com lowered shares of Costco Wholesale from a “buy” rating to a “hold” rating in a report on Friday, April 12th. Finally, Evercore ISI increased their price objective on shares of Costco Wholesale from $795.00 to $805.00 and gave the company an “outperform” rating in a report on Thursday, April 11th. Seven research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $694.48.

Costco Wholesale Trading Up 0.8 %

Shares of NASDAQ:COST traded up $5.81 on Wednesday, hitting $728.71. 803,864 shares of the company’s stock were exchanged, compared to its average volume of 2,030,196. Costco Wholesale Co. has a 12 month low of $476.75 and a 12 month high of $787.08. The stock has a market capitalization of $323.18 billion, a price-to-earnings ratio of 47.12, a price-to-earnings-growth ratio of 4.84 and a beta of 0.77. The business’s 50 day simple moving average is $730.40 and its two-hundred day simple moving average is $669.72. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.93 and a quick ratio of 0.43.

Costco Wholesale (NASDAQ:COST) last released its earnings results on Thursday, March 7th. The retailer reported $3.71 earnings per share for the quarter, topping the consensus estimate of $3.62 by $0.09. Costco Wholesale had a return on equity of 28.80% and a net margin of 2.73%. The business had revenue of $58.44 billion during the quarter, compared to the consensus estimate of $59.11 billion. During the same period last year, the company earned $3.30 earnings per share. The business’s revenue for the quarter was up 5.7% compared to the same quarter last year. Analysts anticipate that Costco Wholesale Co. will post 15.84 EPS for the current fiscal year.

Costco Wholesale Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 10th. Investors of record on Friday, April 26th will be issued a $1.16 dividend. This is an increase from Costco Wholesale’s previous quarterly dividend of $1.02. This represents a $4.64 annualized dividend and a dividend yield of 0.64%. The ex-dividend date is Thursday, April 25th. Costco Wholesale’s payout ratio is presently 30.35%.

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.