Costco Wholesale Co. (NASDAQ:COST) Position Boosted by Provence Wealth Management Group

Provence Wealth Management Group increased its position in shares of Costco Wholesale Co. (NASDAQ:COST) by 11.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,377 shares of the retailer’s stock after acquiring an additional 138 shares during the period. Provence Wealth Management Group’s holdings in Costco Wholesale were worth $909,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Richelieu Gestion SA acquired a new position in shares of Costco Wholesale in the 4th quarter worth $25,000. Morton Brown Family Wealth LLC increased its stake in Costco Wholesale by 200.0% in the 4th quarter. Morton Brown Family Wealth LLC now owns 45 shares of the retailer’s stock worth $30,000 after purchasing an additional 30 shares in the last quarter. Wetzel Investment Advisors Inc. purchased a new stake in Costco Wholesale during the fourth quarter valued at about $30,000. Steph & Co. boosted its holdings in shares of Costco Wholesale by 42.3% in the third quarter. Steph & Co. now owns 74 shares of the retailer’s stock worth $42,000 after buying an additional 22 shares during the period. Finally, Valued Wealth Advisors LLC acquired a new position in shares of Costco Wholesale in the fourth quarter worth about $49,000. 68.48% of the stock is currently owned by institutional investors.

Costco Wholesale Stock Performance

COST traded up $11.46 during trading on Friday, hitting $743.90. The stock had a trading volume of 2,323,300 shares, compared to its average volume of 1,605,560. The firm has a market cap of $329.92 billion, a PE ratio of 48.65, a P/E/G ratio of 4.95 and a beta of 0.77. The company has a current ratio of 0.93, a quick ratio of 0.43 and a debt-to-equity ratio of 0.28. Costco Wholesale Co. has a 12 month low of $476.75 and a 12 month high of $787.08. The company has a 50 day simple moving average of $730.46 and a 200-day simple moving average of $671.71.

Costco Wholesale (NASDAQ:COST) last posted its quarterly earnings data on Thursday, March 7th. The retailer reported $3.71 earnings per share for the quarter, topping the consensus estimate of $3.62 by $0.09. Costco Wholesale had a return on equity of 28.80% and a net margin of 2.73%. The business had revenue of $58.44 billion during the quarter, compared to analysts’ expectations of $59.11 billion. During the same quarter in the previous year, the firm earned $3.30 EPS. The firm’s revenue was up 5.7% compared to the same quarter last year. Analysts expect that Costco Wholesale Co. will post 15.84 EPS for the current year.

Costco Wholesale Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 10th. Shareholders of record on Friday, April 26th will be given a $1.16 dividend. This represents a $4.64 annualized dividend and a yield of 0.62%. This is a positive change from Costco Wholesale’s previous quarterly dividend of $1.02. The ex-dividend date is Thursday, April 25th. Costco Wholesale’s dividend payout ratio (DPR) is currently 30.35%.

Analyst Ratings Changes

A number of equities analysts recently commented on COST shares. Wells Fargo & Company raised their price objective on shares of Costco Wholesale from $610.00 to $675.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 8th. DA Davidson reiterated a “neutral” rating and set a $680.00 price target on shares of Costco Wholesale in a report on Thursday, April 11th. Evercore ISI increased their price objective on Costco Wholesale from $795.00 to $805.00 and gave the stock an “outperform” rating in a research note on Thursday, April 11th. StockNews.com cut Costco Wholesale from a “buy” rating to a “hold” rating in a research note on Friday, April 12th. Finally, Roth Mkm upped their target price on Costco Wholesale from $601.00 to $650.00 and gave the company a “neutral” rating in a report on Thursday, April 11th. Seven analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat, Costco Wholesale has an average rating of “Moderate Buy” and an average price target of $694.48.

Insider Transactions at Costco Wholesale

In other news, EVP Claudine Adamo sold 1,500 shares of Costco Wholesale stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $714.83, for a total transaction of $1,072,245.00. Following the sale, the executive vice president now owns 6,695 shares of the company’s stock, valued at approximately $4,785,786.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Russell D. Miller sold 785 shares of the stock in a transaction dated Wednesday, April 17th. The shares were sold at an average price of $722.86, for a total value of $567,445.10. Following the completion of the transaction, the executive vice president now owns 10,000 shares of the company’s stock, valued at $7,228,600. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Claudine Adamo sold 1,500 shares of the company’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $714.83, for a total value of $1,072,245.00. Following the completion of the sale, the executive vice president now owns 6,695 shares in the company, valued at $4,785,786.85. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 3,727 shares of company stock worth $2,682,948. 0.18% of the stock is currently owned by company 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.