Thoroughbred Financial Services LLC Raises Holdings in Costco Wholesale Co. (NASDAQ:COST)

Thoroughbred Financial Services LLC lifted its holdings in Costco Wholesale Co. (NASDAQ:COST - Free Report) by 2.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,122 shares of the retailer's stock after acquiring an additional 269 shares during the period. Costco Wholesale accounts for about 0.7% of Thoroughbred Financial Services LLC's portfolio, making the stock its 27th biggest holding. Thoroughbred Financial Services LLC's holdings in Costco Wholesale were worth $12,023,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of COST. Resolute Advisors LLC bought a new stake in shares of Costco Wholesale in the 4th quarter worth about $383,000. Annis Gardner Whiting Capital Advisors LLC boosted its holdings in Costco Wholesale by 8.9% during the 4th quarter. Annis Gardner Whiting Capital Advisors LLC now owns 563 shares of the retailer's stock valued at $516,000 after acquiring an additional 46 shares during the period. Atlas Capital Advisors Inc. boosted its stake in shares of Costco Wholesale by 931.2% during the fourth quarter. Atlas Capital Advisors Inc. now owns 6,146 shares of the retailer's stock valued at $5,631,000 after purchasing an additional 5,550 shares during the period. Grant Private Wealth Management Inc bought a new position in Costco Wholesale in the 4th quarter worth about $503,000. Finally, Arete Wealth Advisors LLC increased its position in shares of Costco Wholesale by 38.6% during the fourth quarter. Arete Wealth Advisors LLC now owns 5,741 shares of the retailer's stock worth $5,265,000 after acquiring an additional 1,599 shares during the period. 68.48% of the stock is owned by hedge funds and other institutional investors.

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Analyst Upgrades and Downgrades

COST has been the subject of a number of research reports. Roth Mkm boosted their price target on Costco Wholesale from $755.00 to $907.00 and gave the company a "neutral" rating in a report on Friday, December 13th. Barclays increased their price target on Costco Wholesale from $940.00 to $980.00 and gave the stock an "equal weight" rating in a research report on Monday, March 10th. TD Cowen lifted their price objective on Costco Wholesale from $975.00 to $1,090.00 and gave the company a "buy" rating in a report on Friday, December 13th. Wells Fargo & Company upped their price objective on shares of Costco Wholesale from $950.00 to $1,000.00 and gave the stock an "equal weight" rating in a research note on Friday, December 13th. Finally, Truist Financial boosted their price target on shares of Costco Wholesale from $935.00 to $995.00 and gave the company a "hold" rating in a report on Friday, March 7th. Nine equities research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the stock. According to MarketBeat, Costco Wholesale has a consensus rating of "Moderate Buy" and a consensus price target of $1,029.00.

Insiders Place Their Bets

In other news, EVP Gary Millerchip sold 1,100 shares of the company's stock in a transaction that occurred on Thursday, March 27th. The stock was sold at an average price of $940.01, for a total transaction of $1,034,011.00. Following the completion of the transaction, the executive vice president now directly owns 11,165 shares of the company's stock, valued at $10,495,211.65. This represents a 8.97 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Roland Michael Vachris sold 3,600 shares of the 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 transaction, 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 position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 5,600 shares of company stock worth $5,215,915. Company insiders own 0.18% of the company's stock.

Costco Wholesale Stock Performance

COST traded down $14.57 during midday trading on Monday, hitting $901.91. 2,264,180 shares of the company were exchanged, compared to its average volume of 1,959,506. The firm has a market capitalization of $400.16 billion, a price-to-earnings ratio of 52.78, a price-to-earnings-growth ratio of 6.15 and a beta of 0.95. The company's 50 day simple moving average is $988.70 and its 200 day simple moving average is $948.42. The company has a current ratio of 0.98, a quick ratio of 0.43 and a debt-to-equity ratio of 0.23. Costco Wholesale Co. has a 1-year low of $702.00 and a 1-year high of $1,078.24.

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

Costco Wholesale Dividend Announcement

The company also recently declared 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 of this dividend was Friday, February 7th. This represents a $4.64 annualized dividend and a yield of 0.51%. Costco Wholesale's dividend 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.