Costco Wholesale Co. (NASDAQ:COST) Shares Purchased by Mainsail Financial Group LLC

Mainsail Financial Group LLC lifted its holdings in Costco Wholesale Co. (NASDAQ:COST) by 3.6% during the first quarter, Holdings Channel reports. The fund owned 3,158 shares of the retailer’s stock after buying an additional 111 shares during the quarter. Costco Wholesale makes up 1.7% of Mainsail Financial Group LLC’s holdings, making the stock its 21st largest holding. Mainsail Financial Group LLC’s holdings in Costco Wholesale were worth $2,987,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Investment Management Corp VA ADV acquired a new stake in Costco Wholesale during the fourth quarter valued at $25,000. Synergy Investment Management LLC acquired a new stake in Costco Wholesale during the fourth quarter valued at $31,000. NewSquare Capital LLC grew its position in Costco Wholesale by 250.0% during the fourth quarter. NewSquare Capital LLC now owns 35 shares of the retailer’s stock valued at $32,000 after buying an additional 25 shares during the period. Collier Financial acquired a new stake in Costco Wholesale during the fourth quarter valued at $35,000. Finally, Clear Investment Research LLC grew its position in shares of Costco Wholesale by 22.2% in the fourth quarter. Clear Investment Research LLC now owns 55 shares of the retailer’s stock valued at $51,000 after purchasing an additional 10 shares during the period. Institutional investors and hedge funds own 68.48% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Mizuho assumed 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 on the stock. Truist Financial lifted their target price on shares of Costco Wholesale from $995.00 to $1,042.00 and gave the company a “hold” rating in a research report on Friday, May 30th. Robert W. Baird lifted their target price on shares of Costco Wholesale from $1,075.00 to $1,125.00 and gave the company an “outperform” rating in a research report on Friday, March 7th. Wall Street Zen upgraded shares of Costco Wholesale from a “hold” rating to a “buy” rating in a research report on Friday, June 6th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Costco Wholesale from $1,065.00 to $1,070.00 and gave the company an “overweight” rating in a research report on Friday, March 7th. Nine investment analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,035.32.

Costco Wholesale Price Performance

Shares of COST stock opened at $1,007.27 on Wednesday. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.98 and a quick ratio of 0.43. The firm’s 50-day moving average is $995.30 and its two-hundred day moving average is $980.29. Costco Wholesale Co. has a 12 month low of $793.00 and a 12 month high of $1,078.24. The company has a market capitalization of $446.70 billion, a PE ratio of 59.15, a price-to-earnings-growth ratio of 6.15 and a beta of 1.00.

Costco Wholesale (NASDAQ:COST) last released its quarterly earnings results on Thursday, May 29th. The retailer reported $4.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.24 by $0.04. The business had revenue of $63.21 billion for the quarter, compared to the consensus estimate of $62.93 billion. Costco Wholesale had a net margin of 2.93% and a return on equity of 32.31%. The business’s revenue was up 8.0% on a year-over-year basis. During the same period in the previous year, the firm earned $3.78 EPS. Analysts predict that Costco Wholesale Co. will post 18.03 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 16th. Shareholders of record on Friday, May 2nd were issued a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 0.52%. The ex-dividend date of this dividend was Friday, May 2nd. This is a boost from Costco Wholesale’s previous quarterly dividend of $1.16. Costco Wholesale’s payout ratio is 29.50%.

Insiders Place Their Bets

In other news, EVP Patrick J. Callans sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $1,002.77, for a total transaction of $3,008,310.00. Following the completion of the sale, the executive vice president now owns 58,543 shares in the company, valued at approximately $58,705,164.11. The trade was a 4.87% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Claudine Adamo sold 900 shares of the business’s stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $922.56, for a total transaction of $830,304.00. Following the sale, the executive vice president now owns 6,987 shares of the company’s stock, valued at $6,445,926.72. This represents a 11.41% decrease in their position. The disclosure for this sale can be found here. Insiders sold 11,000 shares of company stock worth $10,825,205 in the last 90 days. Corporate insiders own 0.18% of the company’s stock.

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.