Spire Wealth Management Has $24.12 Million Stock Position in Costco Wholesale Co. (NASDAQ:COST)

Spire Wealth Management raised its stake in Costco Wholesale Co. (NASDAQ:COST) by 14.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 34,702 shares of the retailer’s stock after purchasing an additional 4,478 shares during the period. Costco Wholesale makes up approximately 0.8% of Spire Wealth Management’s holdings, making the stock its 23rd biggest position. Spire Wealth Management’s holdings in Costco Wholesale were worth $24,116,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of COST. Richelieu Gestion SA bought a new stake in shares of Costco Wholesale in the 4th quarter worth approximately $25,000. Morton Brown Family Wealth LLC lifted its position in shares of Costco Wholesale by 200.0% during the 4th quarter. Morton Brown Family Wealth LLC now owns 45 shares of the retailer’s stock worth $30,000 after buying an additional 30 shares during the period. Wetzel Investment Advisors Inc. acquired a new stake in Costco Wholesale in the 4th quarter valued at $30,000. Steph & Co. grew its position in Costco Wholesale by 42.3% in the third quarter. Steph & Co. now owns 74 shares of the retailer’s stock valued at $42,000 after acquiring an additional 22 shares during the period. Finally, Valued Wealth Advisors LLC acquired a new position in Costco Wholesale during the fourth quarter worth $49,000. 68.48% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on COST. StockNews.com lowered shares of Costco Wholesale from a “buy” rating to a “hold” rating in a report on Friday, April 12th. 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. The Goldman Sachs Group boosted their target price on Costco Wholesale from $665.00 to $749.00 and gave the stock a “buy” rating in a report on Thursday, February 8th. Loop Capital decreased their price target on Costco Wholesale from $830.00 to $820.00 and set a “buy” rating on the stock in a research report on Thursday, April 11th. Finally, Roth Mkm boosted their price objective on Costco Wholesale from $601.00 to $650.00 and gave the stock a “neutral” rating in a research note on Thursday, April 11th. Seven investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $694.48.

Insider Buying and Selling

In other Costco Wholesale news, EVP Claudine Adamo sold 1,500 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $714.83, for a total transaction of $1,072,245.00. Following the completion of the transaction, the executive vice president now owns 6,695 shares of the company’s stock, valued at approximately $4,785,786.85. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Costco Wholesale news, EVP Claudine Adamo sold 1,500 shares of Costco Wholesale stock in a transaction on Monday, March 11th. The shares were 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 directly owns 6,695 shares in the company, valued at approximately $4,785,786.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Susan L. Decker sold 1,442 shares of the stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $723.48, for a total transaction of $1,043,258.16. Following the transaction, 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 three months, insiders sold 3,727 shares of company stock worth $2,682,948. 0.18% of the stock is owned by corporate insiders.

Costco Wholesale Stock Up 1.6 %

Shares of COST traded up $11.46 on Friday, hitting $743.90. The company’s stock had a trading volume of 2,323,300 shares, compared to its average volume of 1,605,560. The firm’s fifty day moving average price is $730.46 and its 200-day moving average price is $673.08. Costco Wholesale Co. has a fifty-two week low of $476.75 and a fifty-two 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. The firm has a market capitalization of $329.92 billion, a price-to-earnings ratio of 48.65, a P/E/G ratio of 4.95 and a beta of 0.77.

Costco Wholesale (NASDAQ:COST) last issued its quarterly earnings data on Thursday, March 7th. The retailer reported $3.71 earnings per share (EPS) for the quarter, topping the consensus estimate 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 net margin of 2.73% and a return on equity of 28.80%. The firm’s revenue was up 5.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.30 earnings per share. On average, equities research analysts expect that Costco Wholesale Co. will post 15.84 EPS for the current year.

Costco Wholesale Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 10th. Stockholders of record on Friday, April 26th will be given a dividend of $1.16 per share. This is a boost from Costco Wholesale’s previous quarterly dividend of $1.02. This represents a $4.64 annualized dividend and a dividend yield of 0.62%. The ex-dividend date of this dividend is Thursday, April 25th. Costco Wholesale’s dividend payout ratio is currently 30.35%.

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.