Costco Wholesale Co. (NASDAQ:COST) Shares Acquired by Tower Wealth Partners Inc.

Tower Wealth Partners Inc. lifted its holdings in shares of Costco Wholesale Co. (NASDAQ:COST) by 17.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 495 shares of the retailer’s stock after acquiring an additional 72 shares during the quarter. Tower Wealth Partners Inc.’s holdings in Costco Wholesale were worth $468,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. First National Corp MA ADV lifted its holdings in Costco Wholesale by 2.1% in the 1st quarter. First National Corp MA ADV now owns 3,635 shares of the retailer’s stock worth $3,438,000 after buying an additional 75 shares in the last quarter. Constitution Capital LLC lifted its holdings in Costco Wholesale by 43.2% in the 1st quarter. Constitution Capital LLC now owns 4,525 shares of the retailer’s stock worth $4,280,000 after buying an additional 1,364 shares in the last quarter. Verum Partners LLC lifted its holdings in Costco Wholesale by 25.0% in the 1st quarter. Verum Partners LLC now owns 626 shares of the retailer’s stock worth $592,000 after buying an additional 125 shares in the last quarter. Pines Wealth Management LLC lifted its holdings in Costco Wholesale by 0.7% in the 1st quarter. Pines Wealth Management LLC now owns 1,932 shares of the retailer’s stock worth $1,756,000 after buying an additional 14 shares in the last quarter. Finally, Pitti Group Wealth Management LLC acquired a new position in Costco Wholesale in the 1st quarter worth $224,000. Institutional investors and hedge funds own 68.48% of the company’s stock.

Insiders Place Their Bets

In other Costco Wholesale news, EVP Claudine Adamo sold 900 shares of the company’s stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $922.56, for a total value of $830,304.00. Following the completion of the transaction, the executive vice president now owns 6,987 shares in the company, valued at approximately $6,445,926.72. This represents a 11.41% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP James C. Klauer sold 4,000 shares of the company’s stock in a transaction dated Thursday, April 17th. The stock was sold at an average price of $981.07, for a total transaction of $3,924,280.00. Following the completion of the transaction, the executive vice president now owns 43,994 shares of the company’s stock, valued at approximately $43,161,193.58. This trade represents a 8.33% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 9,600 shares of company stock worth $9,140,195. Insiders own 0.18% of the company’s stock.

Costco Wholesale Price Performance

Shares of NASDAQ:COST opened at $1,014.94 on Friday. The company has a quick ratio of 0.43, a current ratio of 0.98 and a debt-to-equity ratio of 0.23. Costco Wholesale Co. has a fifty-two week low of $793.00 and a fifty-two week high of $1,078.24. The firm has a 50-day simple moving average of $993.68 and a 200 day simple moving average of $979.31. The company has a market cap of $450.31 billion, a PE ratio of 59.60, a P/E/G ratio of 6.15 and a beta of 1.00.

Costco Wholesale (NASDAQ:COST) last announced its quarterly earnings data on Thursday, May 29th. The retailer reported $4.28 earnings per share for the quarter, beating analysts’ consensus estimates of $4.24 by $0.04. Costco Wholesale had a net margin of 2.93% and a return on equity of 32.31%. The business had revenue of $63.21 billion during the quarter, compared to the consensus estimate of $62.93 billion. During the same quarter in the prior year, the firm earned $3.78 EPS. The company’s revenue for the quarter was up 8.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Costco Wholesale Co. will post 18.03 EPS for the current year.

Costco Wholesale Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 16th. Shareholders of record on Friday, May 2nd were given a $1.30 dividend. This is a boost from Costco Wholesale’s previous quarterly dividend of $1.16. The ex-dividend date of this dividend was Friday, May 2nd. This represents a $5.20 annualized dividend and a yield of 0.51%. Costco Wholesale’s dividend payout ratio is 29.50%.

Wall Street Analysts Forecast Growth

COST has been the topic of a number of recent analyst reports. Evercore ISI boosted their price objective on shares of Costco Wholesale from $1,070.00 to $1,075.00 and gave the stock an “outperform” rating in a report on Thursday, May 29th. Sanford C. Bernstein reiterated an “outperform” rating on shares of Costco Wholesale in a report on Friday, March 7th. Cowen reissued a “buy” rating on shares of Costco Wholesale in a research report on Friday, March 7th. Mizuho began coverage on shares of Costco Wholesale in a research report on Friday, April 11th. They issued a “neutral” rating and a $975.00 target price for the company. Finally, Loop Capital dropped their target price on shares of Costco Wholesale from $1,115.00 to $1,110.00 and set a “buy” rating for the company in a research report on Thursday, May 29th. Nine analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the stock. According to data from MarketBeat.com, Costco Wholesale presently has an average rating of “Moderate Buy” and a consensus target price of $1,035.32.

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.