Broadway Wealth Solutions Inc. Purchases Shares of 1,629 Costco Wholesale Co. (NASDAQ:COST)

Broadway Wealth Solutions Inc. bought a new stake in shares of Costco Wholesale Co. (NASDAQ:COST - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,629 shares of the retailer's stock, valued at approximately $1,493,000. Costco Wholesale accounts for 1.1% of Broadway Wealth Solutions Inc.'s holdings, making the stock its 15th biggest holding.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in COST. RPg Family Wealth Advisory LLC purchased a new stake in Costco Wholesale in the third quarter worth about $29,000. Synergy Investment Management LLC purchased a new position in Costco Wholesale during the fourth quarter valued at approximately $31,000. NewSquare Capital LLC boosted its position in shares of Costco Wholesale by 250.0% in the fourth quarter. NewSquare Capital LLC now owns 35 shares of the retailer's stock worth $32,000 after purchasing an additional 25 shares during the period. Endeavor Private Wealth Inc. purchased a new stake in shares of Costco Wholesale in the fourth quarter worth $33,000. Finally, Collier Financial bought a new stake in shares of Costco Wholesale during the 4th quarter valued at $35,000. 68.48% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Claudine Adamo sold 900 shares of the firm's stock in a transaction on Monday, March 24th. The stock was sold at an average price of $922.56, for a total value of $830,304.00. Following the completion of the sale, the executive vice president now owns 6,987 shares of the company's stock, valued at $6,445,926.72. This trade represents a 11.41 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Roland Michael Vachris sold 3,600 shares of the company's stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $931.00, for a total value of $3,351,600.00. Following the transaction, the chief executive officer now directly owns 41,077 shares in the company, valued at $38,242,687. This represents a 8.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 5,600 shares of company stock worth $5,215,915. Company insiders own 0.18% of the company's stock.

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Costco Wholesale Trading Down 1.0 %

COST traded down $9.09 during trading hours on Friday, reaching $929.66. 2,099,737 shares of the company's stock traded hands, compared to its average volume of 1,941,143. The company has a quick ratio of 0.43, a current ratio of 0.98 and a debt-to-equity ratio of 0.23. The firm has a 50-day moving average price of $988.07 and a 200 day moving average price of $946.54. Costco Wholesale Co. has a 52-week low of $697.27 and a 52-week high of $1,078.24. The firm has a market capitalization of $412.47 billion, a PE ratio of 54.59, a PEG ratio of 6.15 and a beta of 0.82.

Costco Wholesale (NASDAQ:COST - Get Free Report) last posted its quarterly earnings results 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 return on equity of 32.31% and a net margin of 2.93%. The company had revenue of $63.72 billion during the quarter, compared to the consensus estimate of $63.02 billion. As a group, sell-side analysts predict that Costco Wholesale Co. will post 18.03 EPS for the current fiscal year.

Costco Wholesale Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, February 21st. Stockholders of record on Friday, February 7th were given a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a dividend yield of 0.50%. The ex-dividend date was Friday, February 7th. Costco Wholesale's payout ratio is 27.09%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on COST. Robert W. Baird increased their price target on Costco Wholesale from $1,075.00 to $1,125.00 and gave the stock an "outperform" rating in a research note on Friday, March 7th. Wells Fargo & Company increased their target price on Costco Wholesale from $950.00 to $1,000.00 and gave the stock an "equal weight" rating in a research report on Friday, December 13th. Oppenheimer reissued an "outperform" rating and issued a $1,075.00 price target (up from $980.00) on shares of Costco Wholesale in a report on Tuesday, December 10th. Loop Capital cut their price objective on shares of Costco Wholesale from $1,150.00 to $1,135.00 and set a "buy" rating for the company in a report on Friday, March 7th. Finally, Citigroup boosted their target price on shares of Costco Wholesale from $800.00 to $1,060.00 and gave the stock a "neutral" rating in a report on Wednesday, December 18th. Nine investment analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $1,029.00.

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.