Ocean Capital Management LLC Raises Stake in Costco Wholesale Co. (NASDAQ:COST)

Ocean Capital Management LLC boosted its stake in Costco Wholesale Co. (NASDAQ:COST) by 1.0% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 55,214 shares of the retailer’s stock after buying an additional 530 shares during the period. Costco Wholesale makes up 14.7% of Ocean Capital Management LLC’s portfolio, making the stock its 2nd largest holding. Ocean Capital Management LLC’s holdings in Costco Wholesale were worth $36,446,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. B. Riley Wealth Advisors Inc. boosted its position in shares of Costco Wholesale by 1.0% in the third quarter. B. Riley Wealth Advisors Inc. now owns 28,855 shares of the retailer’s stock valued at $16,302,000 after acquiring an additional 273 shares during the period. Keating Investment Counselors Inc. boosted its holdings in Costco Wholesale by 43.0% in the 3rd quarter. Keating Investment Counselors Inc. now owns 2,643 shares of the retailer’s stock valued at $1,493,000 after purchasing an additional 795 shares during the period. Rice Partnership LLC grew its position in Costco Wholesale by 21.0% during the third quarter. Rice Partnership LLC now owns 11,741 shares of the retailer’s stock worth $6,633,000 after buying an additional 2,038 shares in the last quarter. Cyndeo Wealth Partners LLC grew its holdings in shares of Costco Wholesale by 79.6% during the 4th quarter. Cyndeo Wealth Partners LLC now owns 10,358 shares of the retailer’s stock worth $6,837,000 after purchasing an additional 4,592 shares in the last quarter. Finally, Resources Management Corp CT ADV grew its stake in Costco Wholesale by 1,396.0% during the second quarter. Resources Management Corp CT ADV now owns 14,960 shares of the retailer’s stock worth $8,054,000 after buying an additional 13,960 shares in the last quarter. 68.48% of the stock is owned by institutional investors.

Costco Wholesale Stock Up 0.1 %

Costco Wholesale stock opened at $732.63 on Friday. The firm has a market cap of $324.92 billion, a price-to-earnings ratio of 47.92, a PEG ratio of 5.06 and a beta of 0.77. Costco Wholesale Co. has a 52-week low of $476.75 and a 52-week high of $787.08. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.43 and a current ratio of 0.93. The firm has a 50 day moving average price of $724.29 and a two-hundred day moving average price of $642.61.

Costco Wholesale (NASDAQ:COST) last announced its earnings results on Thursday, March 7th. The retailer reported $3.71 earnings per share for the quarter, topping analysts’ consensus estimates of $3.62 by $0.09. Costco Wholesale had a net margin of 2.73% and a return on equity of 28.80%. The business had revenue of $58.44 billion during the quarter, compared to the consensus estimate of $59.11 billion. During the same quarter last year, the firm earned $3.30 earnings per share. Costco Wholesale’s quarterly revenue was up 5.7% on a year-over-year basis. Equities analysts predict that Costco Wholesale Co. will post 15.82 EPS for the current year.

Costco Wholesale Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 16th. Shareholders of record on Friday, February 2nd were paid a $1.02 dividend. This represents a $4.08 annualized dividend and a yield of 0.56%. The ex-dividend date of this dividend was Thursday, February 1st. Costco Wholesale’s dividend payout ratio (DPR) is presently 26.68%.

Insider Transactions at Costco Wholesale

In related news, EVP Caton Frates sold 740 shares of the business’s stock in a transaction on Tuesday, January 16th. The shares were sold at an average price of $683.50, for a total transaction of $505,790.00. Following the transaction, the executive vice president now owns 6,721 shares in the company, valued at approximately $4,593,803.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, EVP Caton Frates sold 740 shares of the company’s stock in a transaction that occurred on Tuesday, January 16th. The stock was sold at an average price of $683.50, for a total transaction of $505,790.00. Following the transaction, the executive vice president now directly owns 6,721 shares of the company’s stock, valued at approximately $4,593,803.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Daniel M. Hines sold 1,400 shares of the firm’s stock in a transaction that occurred on Tuesday, January 9th. The shares were sold at an average price of $662.30, for a total value of $927,220.00. Following the completion of the sale, the insider now directly owns 13,922 shares of the company’s stock, valued at approximately $9,220,540.60. The disclosure for this sale can be found here. Insiders sold a total of 15,582 shares of company stock valued at $10,736,778 in the last quarter. 0.18% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

COST has been the topic of a number of recent analyst reports. Raymond James lifted their price objective on shares of Costco Wholesale from $580.00 to $670.00 and gave the company an “outperform” rating in a research note on Friday, December 15th. Loop Capital boosted their price target on Costco Wholesale from $710.00 to $755.00 in a report on Friday, January 19th. Telsey Advisory Group raised their price objective on Costco Wholesale from $750.00 to $785.00 and gave the company an “outperform” rating in a research note on Monday, March 4th. Tigress Financial boosted their target price on Costco Wholesale from $745.00 to $870.00 and gave the stock a “buy” rating in a research note on Friday, March 15th. Finally, Truist Financial raised their price target on shares of Costco Wholesale from $693.00 to $741.00 and gave the company a “buy” rating in a research note on Thursday, December 21st. Seven investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $668.50.

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.