Processus Wealth & Capital Management LLC Takes Position in Costco Wholesale Co. (NASDAQ:COST)

Processus Wealth & Capital Management LLC bought a new stake in Costco Wholesale Co. (NASDAQ:COST) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 4,919 shares of the retailer’s stock, valued at approximately $3,247,000. Costco Wholesale makes up 3.2% of Processus Wealth & Capital Management LLC’s portfolio, making the stock its 9th biggest holding.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Richelieu Gestion SA purchased a new position in Costco Wholesale during the fourth quarter worth approximately $25,000. Frank Rimerman Advisors LLC purchased a new position in Costco Wholesale during the fourth quarter worth approximately $26,000. Morton Brown Family Wealth LLC lifted its position 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 buying an additional 30 shares in the last quarter. Wetzel Investment Advisors Inc. acquired a new stake in Costco Wholesale during the fourth quarter worth $30,000. Finally, Vima LLC acquired a new stake in Costco Wholesale during the fourth quarter worth $34,000. Hedge funds and other institutional investors own 68.48% of the company’s stock.

Insider Buying and Selling at Costco Wholesale

In other Costco Wholesale news, EVP Russell D. Miller sold 785 shares of the stock in a transaction on 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 approximately $7,228,600. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.18% of the stock is owned by insiders.

Analysts Set New Price Targets

COST has been the subject of a number of research reports. DA Davidson reaffirmed a “neutral” rating and issued a $680.00 price objective on shares of Costco Wholesale in a research note on Thursday, April 11th. Wells Fargo & Company lifted their price objective on Costco Wholesale from $750.00 to $775.00 and gave the company an “equal weight” rating in a research note on Friday, May 31st. Oppenheimer lifted their price objective on Costco Wholesale from $850.00 to $905.00 and gave the company an “outperform” rating in a research note on Thursday, June 6th. StockNews.com raised Costco Wholesale from a “hold” rating to a “buy” rating in a research note on Sunday, June 2nd. Finally, Evercore ISI lifted their price objective on Costco Wholesale from $845.00 to $860.00 and gave the company an “outperform” rating in a research note on Friday, May 31st. Seven investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. According to data from MarketBeat.com, Costco Wholesale currently has a consensus rating of “Moderate Buy” and an average target price of $751.85.

Costco Wholesale Stock Performance

NASDAQ COST traded up $9.71 on Friday, hitting $855.67. 1,395,485 shares of the company’s stock were exchanged, compared to its average volume of 1,735,517. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.94 and a quick ratio of 0.45. The firm’s 50-day moving average price is $774.06 and its two-hundred day moving average price is $723.29. Costco Wholesale Co. has a fifty-two week low of $516.54 and a fifty-two week high of $856.18. The firm has a market cap of $379.34 billion, a price-to-earnings ratio of 53.02, a P/E/G ratio of 5.66 and a beta of 0.79.

Costco Wholesale (NASDAQ:COST) last released its quarterly earnings results on Thursday, May 30th. The retailer reported $3.78 earnings per share for the quarter, topping analysts’ consensus estimates of $3.70 by $0.08. The business had revenue of $58.52 billion for the quarter, compared to analysts’ expectations of $58.16 billion. Costco Wholesale had a return on equity of 30.02% and a net margin of 2.83%. The company’s revenue was up 9.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.43 EPS. On average, research analysts expect that Costco Wholesale Co. will post 15.96 EPS for the current year.

Costco Wholesale Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 10th. Shareholders of record on Friday, April 26th were issued a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a yield of 0.54%. The ex-dividend date of this dividend was Thursday, April 25th. This is a boost from Costco Wholesale’s previous quarterly dividend of $1.02. Costco Wholesale’s dividend payout ratio is 28.75%.

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.