Centerpoint Advisors LLC Has $1.06 Million Holdings in Costco Wholesale Co. (NASDAQ:COST)

Centerpoint Advisors LLC reduced its stake in shares of Costco Wholesale Co. (NASDAQ:COST) by 1.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,450 shares of the retailer’s stock after selling 15 shares during the quarter. Centerpoint Advisors LLC’s holdings in Costco Wholesale were worth $1,062,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Ramirez Asset Management Inc. bought a new stake in Costco Wholesale in the 3rd quarter valued at $85,000. Townsquare Capital LLC increased its holdings in Costco Wholesale by 12.0% in the 3rd quarter. Townsquare Capital LLC now owns 24,520 shares of the retailer’s stock valued at $13,853,000 after buying an additional 2,622 shares during the period. Horizon Family Wealth Inc. bought a new stake in Costco Wholesale in the 3rd quarter valued at $900,000. Harbour Investments Inc. increased its holdings in Costco Wholesale by 1.4% in the 3rd quarter. Harbour Investments Inc. now owns 7,578 shares of the retailer’s stock valued at $4,281,000 after buying an additional 103 shares during the period. Finally, Obsidian Personal Planning Solutions LLC bought a new stake in Costco Wholesale in the 3rd quarter valued at $698,000. 68.48% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

COST has been the topic of several analyst reports. Argus boosted their price target on shares of Costco Wholesale from $805.00 to $900.00 and gave the company a “buy” rating in a report on Tuesday, May 28th. Barclays upped their target price on shares of Costco Wholesale from $700.00 to $765.00 and gave the stock an “equal weight” rating in a report on Friday, May 31st. Gordon Haskett lowered shares of Costco Wholesale from a “buy” rating to an “accumulate” rating and set a $775.00 target price on the stock. in a report on Wednesday, April 3rd. Truist Financial upped their target price on shares of Costco Wholesale from $815.00 to $873.00 and gave the stock a “buy” rating in a report on Friday, May 31st. Finally, Roth Mkm reaffirmed a “neutral” rating and issued a $676.00 target price (up previously from $650.00) on shares of Costco Wholesale in a report on Friday, May 31st. Seven research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $766.73.

Costco Wholesale Trading Down 0.5 %

Costco Wholesale stock traded down $4.83 during trading hours on Monday, reaching $880.84. 1,608,349 shares of the company’s stock traded hands, compared to its average volume of 1,960,270. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.45 and a current ratio of 0.94. Costco Wholesale Co. has a fifty-two week low of $525.06 and a fifty-two week high of $887.95. The firm has a market capitalization of $390.50 billion, a price-to-earnings ratio of 54.63, a PEG ratio of 5.85 and a beta of 0.78. The firm’s 50 day moving average is $816.01 and its 200-day moving average is $747.72.

Costco Wholesale (NASDAQ:COST) last released its earnings results on Thursday, May 30th. The retailer reported $3.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.70 by $0.08. Costco Wholesale had a net margin of 2.83% and a return on equity of 30.02%. The company had revenue of $58.52 billion for the quarter, compared to the consensus estimate of $58.16 billion. During the same period in the prior year, the company posted $3.43 EPS. The company’s revenue was up 9.1% compared to the same quarter last year. On average, analysts predict that Costco Wholesale Co. will post 15.98 earnings per share for the current year.

Costco Wholesale Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 10th. Investors of record on Friday, April 26th were given a $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a dividend yield of 0.53%. This is an increase from Costco Wholesale’s previous quarterly dividend of $1.02. The ex-dividend date of this dividend was Thursday, April 25th. Costco Wholesale’s dividend payout ratio (DPR) is currently 28.75%.

Insider Activity at Costco Wholesale

In related news, EVP Russell D. Miller sold 785 shares of the stock in a transaction that occurred on Wednesday, April 17th. The shares were sold at an average price of $722.86, for a total value of $567,445.10. Following the sale, the executive vice president now directly owns 10,000 shares in the company, valued at approximately $7,228,600. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.18% of the stock is currently owned by corporate 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.