Modern Wealth Management LLC Has $6.82 Million Position in Costco Wholesale Co. (NASDAQ:COST)

Modern Wealth Management LLC grew its position in shares of Costco Wholesale Co. (NASDAQ:COST - Free Report) by 66.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,440 shares of the retailer's stock after acquiring an additional 2,978 shares during the quarter. Modern Wealth Management LLC's holdings in Costco Wholesale were worth $6,817,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. RPg Family Wealth Advisory LLC acquired a new position in Costco Wholesale during the third quarter worth $29,000. Synergy Investment Management LLC bought a new stake in Costco Wholesale during the 4th quarter worth about $31,000. NewSquare Capital LLC boosted its stake in shares of 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 buying an additional 25 shares during the last quarter. Endeavor Private Wealth Inc. acquired a new stake in shares of Costco Wholesale in the fourth quarter valued at about $33,000. Finally, Collier Financial bought a new stake in Costco Wholesale during the fourth quarter worth about $35,000. 68.48% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on COST. Cowen restated a "buy" rating on shares of Costco Wholesale in a research note on Friday, March 7th. JPMorgan Chase & Co. boosted their target price on shares of Costco Wholesale from $1,065.00 to $1,070.00 and gave the stock an "overweight" rating in a report on Friday, March 7th. Wells Fargo & Company upped their price target on shares of 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. Roth Mkm lifted their price objective on shares of Costco Wholesale from $755.00 to $907.00 and gave the company a "neutral" rating in a research report on Friday, December 13th. Finally, Sanford C. Bernstein reaffirmed an "outperform" rating on shares of Costco Wholesale in a report on Friday, March 7th. Nine investment analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $1,029.00.

Remove Ads

Insiders Place Their Bets

In other Costco Wholesale news, CEO Roland Michael Vachris sold 3,600 shares of the firm's stock in a transaction that occurred on 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 sale, the chief executive officer now owns 41,077 shares in the company, valued at $38,242,687. This trade represents a 8.06 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Claudine Adamo sold 900 shares of the business's stock in a transaction on Monday, March 24th. The stock was sold at an average price of $922.56, for a total transaction of $830,304.00. Following the sale, the executive vice president now directly owns 6,987 shares in the company, valued at approximately $6,445,926.72. The trade was a 11.41 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.18% of the company's stock.

Costco Wholesale Price Performance

NASDAQ COST traded up $8.28 during midday trading on Thursday, hitting $938.03. The company had a trading volume of 639,611 shares, compared to its average volume of 1,819,398. The company has a market capitalization of $416.19 billion, a PE ratio of 55.27, a P/E/G ratio of 6.15 and a beta of 0.82. Costco Wholesale Co. has a twelve month low of $697.27 and a twelve month high of $1,078.24. The company has a current ratio of 0.98, a quick ratio of 0.43 and a debt-to-equity ratio of 0.23. The firm has a 50-day moving average price of $987.96 and a 200-day moving average price of $946.00.

Costco Wholesale (NASDAQ:COST - Get Free Report) last posted its quarterly earnings data on Thursday, March 6th. The retailer reported $4.02 earnings per share for the quarter, missing the consensus estimate of $4.09 by ($0.07). The firm had revenue of $63.72 billion for the quarter, compared to the consensus estimate of $63.02 billion. Costco Wholesale had a return on equity of 32.31% and a net margin of 2.93%. As a group, analysts anticipate that Costco Wholesale Co. will post 18.03 earnings per share for the current fiscal year.

Costco Wholesale Dividend Announcement

The firm 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 annualized dividend and a yield of 0.49%. The ex-dividend date was Friday, February 7th. Costco Wholesale's payout ratio is presently 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.