Stonegate Investment Group LLC Grows Holdings in Costco Wholesale Co. (NASDAQ:COST)

Stonegate Investment Group LLC increased its position in Costco Wholesale Co. (NASDAQ:COST) by 0.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 83,995 shares of the retailer’s stock after acquiring an additional 101 shares during the quarter. Costco Wholesale comprises approximately 1.9% of Stonegate Investment Group LLC’s holdings, making the stock its 16th biggest position. Stonegate Investment Group LLC’s holdings in Costco Wholesale were worth $61,537,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in COST. Richelieu Gestion SA purchased a new stake in Costco Wholesale in the 4th quarter worth approximately $25,000. Frank Rimerman Advisors LLC purchased a new stake in Costco Wholesale in the 4th quarter worth approximately $26,000. Morton Brown Family Wealth LLC increased its holdings in Costco Wholesale by 200.0% in the 4th quarter. Morton Brown Family Wealth LLC now owns 45 shares of the retailer’s stock worth $30,000 after acquiring an additional 30 shares in the last quarter. Wetzel Investment Advisors Inc. bought a new position in Costco Wholesale in the 4th quarter worth approximately $30,000. Finally, Redmont Wealth Advisors LLC bought a new position in Costco Wholesale in the 1st quarter worth approximately $32,000. 68.48% of the stock is owned by hedge funds and other institutional investors.

Costco Wholesale Trading Down 0.5 %

COST traded down $3.43 during trading on Tuesday, reaching $722.90. The company had a trading volume of 1,734,041 shares, compared to its average volume of 2,045,451. The stock has a market cap of $320.61 billion, a P/E ratio of 47.28, a PEG ratio of 4.86 and a beta of 0.77. The business has a 50 day simple moving average of $730.40 and a 200-day simple moving average of $669.72. Costco Wholesale Co. has a 52 week low of $476.75 and a 52 week high of $787.08. The company has a quick ratio of 0.43, a current ratio of 0.93 and a debt-to-equity ratio of 0.28.

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

Costco Wholesale Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Shareholders of record on Friday, April 26th will be paid a $1.16 dividend. This is a positive change from Costco Wholesale’s previous quarterly dividend of $1.02. The ex-dividend date of this dividend is Thursday, April 25th. This represents a $4.64 dividend on an annualized basis and a yield of 0.64%. Costco Wholesale’s dividend payout ratio (DPR) is presently 30.35%.

Analysts Set New Price Targets

Several research firms have weighed in on COST. Loop Capital dropped their price target on Costco Wholesale from $830.00 to $820.00 and set a “buy” rating for the company in a research note on Thursday, April 11th. Roth Mkm upped their price target on Costco Wholesale from $601.00 to $650.00 and gave the stock a “neutral” rating in a research note on Thursday, April 11th. Wells Fargo & Company upped their price target on Costco Wholesale from $610.00 to $675.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 8th. Oppenheimer upped their price target on Costco Wholesale from $760.00 to $805.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 5th. Finally, Tigress Financial upped their price target on Costco Wholesale from $745.00 to $870.00 and gave the stock a “buy” rating in a research note on Friday, March 15th. Seven investment analysts have rated the stock with a hold rating and eighteen 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 an average price target of $694.48.

Insider Activity

In other news, Director Susan L. Decker sold 1,442 shares of the business’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $723.48, for a total transaction of $1,043,258.16. Following the completion of the sale, the director now directly owns 12,395 shares of the company’s stock, valued at $8,967,534.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Russell D. Miller sold 785 shares of the business’s stock in a transaction on Wednesday, April 17th. The shares were sold at an average price of $722.86, for a total transaction of $567,445.10. Following the completion of the sale, the executive vice president now directly owns 10,000 shares of the company’s stock, valued at $7,228,600. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Susan L. Decker sold 1,442 shares of Costco Wholesale stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $723.48, for a total value of $1,043,258.16. Following the completion of the sale, the director now owns 12,395 shares of the company’s stock, valued at $8,967,534.60. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 3,727 shares of company stock valued at $2,682,948. 0.18% of the stock is currently owned by company insiders.

Costco Wholesale Company 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.