Centric Wealth Management Buys 1,246 Shares of Costco Wholesale Co. (NASDAQ:COST)

Centric Wealth Management boosted its position in Costco Wholesale Co. (NASDAQ:COST - Free Report) by 73.3% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,945 shares of the retailer's stock after purchasing an additional 1,246 shares during the quarter. Centric Wealth Management's holdings in Costco Wholesale were worth $2,699,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Synergy Investment Management LLC bought a new position in Costco Wholesale in the 4th quarter worth approximately $31,000. NewSquare Capital LLC boosted its position in Costco Wholesale by 250.0% during the 4th quarter. NewSquare Capital LLC now owns 35 shares of the retailer's stock worth $32,000 after acquiring an additional 25 shares during the period. Endeavor Private Wealth Inc. bought a new position in shares of Costco Wholesale in the fourth quarter worth $33,000. Collier Financial acquired a new position in shares of Costco Wholesale during the fourth quarter valued at $35,000. Finally, Barrett & Company Inc. lifted its holdings in Costco Wholesale by 59.3% in the fourth quarter. Barrett & Company Inc. now owns 43 shares of the retailer's stock worth $39,000 after purchasing an additional 16 shares during the period. 68.48% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Roland Michael Vachris sold 3,600 shares of Costco Wholesale stock in a transaction dated 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 completion of the sale, the chief executive officer now directly owns 41,077 shares in the company, valued at $38,242,687. The trade was a 8.06 % 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 Gary Millerchip sold 1,100 shares of the stock in a transaction that occurred on Thursday, March 27th. The stock was sold at an average price of $940.01, for a total value of $1,034,011.00. Following the completion of the transaction, the executive vice president now owns 11,165 shares in the company, valued at $10,495,211.65. This represents a 8.97 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 5,600 shares of company stock worth $5,215,915 in the last ninety days. Corporate insiders own 0.18% of the company's stock.

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Analyst Ratings Changes

Several equities analysts have commented on the stock. BMO Capital Markets raised their target price on shares of Costco Wholesale from $1,075.00 to $1,175.00 and gave the company an "outperform" rating in a research note on Friday, December 13th. Wells Fargo & Company upped 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. 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 report on Friday, March 7th. DA Davidson upped their price objective on Costco Wholesale from $900.00 to $1,000.00 and gave the company a "neutral" rating in a report on Thursday, February 6th. Finally, Evercore ISI lifted their target price on Costco Wholesale from $1,050.00 to $1,070.00 and gave the stock an "outperform" rating in a report on Tuesday, March 11th. Nine investment analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company's stock. According to MarketBeat.com, Costco Wholesale currently has a consensus rating of "Moderate Buy" and a consensus target price of $1,029.00.

Costco Wholesale Stock Up 0.2 %

Costco Wholesale stock traded up $2.41 during mid-day trading on Thursday, hitting $967.49. The company's stock had a trading volume of 2,360,375 shares, compared to its average volume of 1,947,367. Costco Wholesale Co. has a 52-week low of $697.27 and a 52-week high of $1,078.24. The company has a market cap of $429.26 billion, a PE ratio of 56.74, a price-to-earnings-growth ratio of 6.15 and a beta of 0.82. 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 $988.67 and its 200 day moving average is $947.48.

Costco Wholesale (NASDAQ:COST - Get Free Report) last posted its quarterly earnings results on Thursday, March 6th. The retailer reported $4.02 earnings per share (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 analysts' expectations of $63.02 billion. On average, analysts anticipate that Costco Wholesale Co. will post 18.03 earnings per share for the current year.

Costco Wholesale Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, February 21st. Shareholders of record on Friday, February 7th were paid a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a dividend yield of 0.48%. The ex-dividend date of this dividend was Friday, February 7th. Costco Wholesale's dividend payout ratio (DPR) is currently 27.09%.

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.