JPL Wealth Management LLC Makes New $6.61 Million Investment in Costco Wholesale Co. (NASDAQ:COST)

JPL Wealth Management LLC acquired a new position in shares of Costco Wholesale Co. (NASDAQ:COST - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 7,209 shares of the retailer's stock, valued at approximately $6,605,000. Costco Wholesale makes up 1.9% of JPL Wealth Management LLC's investment portfolio, making the stock its 10th largest holding.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Cromwell Holdings LLC boosted its stake in Costco Wholesale by 0.9% in the fourth quarter. Cromwell Holdings LLC now owns 1,144 shares of the retailer's stock valued at $1,048,000 after buying an additional 10 shares in the last quarter. 44 Wealth Management LLC boosted its stake in shares of Costco Wholesale by 0.3% during the fourth quarter. 44 Wealth Management LLC now owns 3,488 shares of the retailer's stock valued at $3,196,000 after purchasing an additional 10 shares in the last quarter. SRN Advisors LLC boosted its stake in shares of Costco Wholesale by 0.3% during the fourth quarter. SRN Advisors LLC now owns 3,081 shares of the retailer's stock valued at $2,823,000 after purchasing an additional 10 shares in the last quarter. Miramar Capital LLC boosted its stake in shares of Costco Wholesale by 1.9% during the fourth quarter. Miramar Capital LLC now owns 525 shares of the retailer's stock valued at $481,000 after purchasing an additional 10 shares in the last quarter. Finally, Sculati Wealth Management LLC boosted its stake in shares of Costco Wholesale by 0.3% during the third quarter. Sculati Wealth Management LLC now owns 3,649 shares of the retailer's stock valued at $3,235,000 after purchasing an additional 11 shares in the last quarter. Institutional investors own 68.48% of the company's stock.

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Analyst Ratings Changes

A number of analysts have recently commented on COST shares. Truist Financial lifted their price target on Costco Wholesale from $935.00 to $995.00 and gave the company a "hold" rating in a research note on Friday, March 7th. Jefferies Financial Group lifted their price target on Costco Wholesale from $1,050.00 to $1,145.00 and gave the company a "buy" rating in a research note on Thursday, December 5th. Morgan Stanley raised their price objective on Costco Wholesale from $950.00 to $1,150.00 and gave the stock an "overweight" rating in a research report on Friday, December 13th. JPMorgan Chase & Co. raised their price objective on Costco Wholesale from $1,065.00 to $1,070.00 and gave the stock an "overweight" rating in a research report on Friday, March 7th. Finally, Oppenheimer restated an "outperform" rating and set a $1,075.00 price objective (up from $980.00) on shares of Costco Wholesale in a research report on Tuesday, December 10th. Nine investment analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $1,030.43.

Costco Wholesale Stock Down 3.9 %

Costco Wholesale stock traded down $36.46 during mid-day trading on Thursday, reaching $890.62. The stock had a trading volume of 3,438,222 shares, compared to its average volume of 1,814,254. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.43 and a current ratio of 0.98. Costco Wholesale Co. has a fifty-two week low of $697.27 and a fifty-two week high of $1,078.24. The stock's 50-day simple moving average is $990.05 and its 200-day simple moving average is $944.14. The firm has a market capitalization of $395.35 billion, a PE ratio of 52.30, a price-to-earnings-growth ratio of 6.15 and a beta of 0.81.

Costco Wholesale (NASDAQ:COST - Get Free Report) last announced its quarterly earnings data on Thursday, March 6th. The retailer reported $4.02 EPS for the quarter, missing analysts' consensus estimates of $4.09 by ($0.07). Costco Wholesale had a net margin of 2.93% and a return on equity of 32.31%. The firm had revenue of $63.72 billion during the quarter, compared to analyst estimates of $63.02 billion. On average, sell-side analysts forecast that Costco Wholesale Co. will post 18.03 EPS for the current fiscal year.

Costco Wholesale Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, February 21st. Investors of record on Friday, February 7th were given a dividend of $1.16 per share. The ex-dividend date was Friday, February 7th. This represents a $4.64 annualized dividend and a dividend yield of 0.52%. Costco Wholesale's payout ratio is 27.09%.

Insider Activity at Costco Wholesale

In related news, CEO Roland Michael Vachris sold 3,600 shares of Costco Wholesale stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $931.00, for a total transaction of $3,351,600.00. Following the transaction, the chief executive officer now owns 41,077 shares of the company's stock, valued at $38,242,687. The trade was a 8.06 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.18% of the stock is owned by insiders.

About Costco Wholesale

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.