TrinityPoint Wealth LLC Acquires 16 Shares of Costco Wholesale Co. (NASDAQ:COST)

TrinityPoint Wealth LLC grew its position in Costco Wholesale Co. (NASDAQ:COST) by 0.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,217 shares of the retailer’s stock after acquiring an additional 16 shares during the quarter. TrinityPoint Wealth LLC’s holdings in Costco Wholesale were worth $2,031,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Norges Bank purchased a new position in Costco Wholesale in the 4th quarter worth about $5,182,316,000. Proficio Capital Partners LLC increased its stake in Costco Wholesale by 74,796.3% in the 4th quarter. Proficio Capital Partners LLC now owns 1,521,893 shares of the retailer’s stock worth $1,394,465,000 after buying an additional 1,519,861 shares during the period. Leigh Baldwin & CO. LLC purchased a new position in Costco Wholesale in the 4th quarter worth about $95,452,000. Strategic Financial Concepts LLC increased its stake in Costco Wholesale by 100,422.3% in the 4th quarter. Strategic Financial Concepts LLC now owns 796,137 shares of the retailer’s stock worth $729,476,000 after buying an additional 795,345 shares during the period. Finally, Northern Trust Corp increased its stake in Costco Wholesale by 12.6% in the 4th quarter. Northern Trust Corp now owns 5,257,809 shares of the retailer’s stock worth $4,817,573,000 after buying an additional 587,303 shares during the period. Hedge funds and other institutional investors own 68.48% of the company’s stock.

Costco Wholesale Stock Performance

Shares of NASDAQ COST opened at $1,025.83 on Friday. 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 12 month low of $788.20 and a 12 month high of $1,078.24. The company has a 50 day simple moving average of $961.47 and a two-hundred day simple moving average of $967.73. The stock has a market cap of $455.14 billion, a price-to-earnings ratio of 60.24, a PEG ratio of 6.15 and a beta of 1.00.

Costco Wholesale (NASDAQ:COST) last announced its quarterly earnings data on Thursday, March 6th. The retailer reported $4.02 EPS 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 business had revenue of $63.72 billion for the quarter, compared to analyst estimates of $63.02 billion. As a group, analysts predict that Costco Wholesale Co. will post 18.03 earnings per share for the current year.

Costco Wholesale Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 16th. Shareholders of record on Friday, May 2nd were paid a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 0.51%. This is a boost from Costco Wholesale’s previous quarterly dividend of $1.16. The ex-dividend date of this dividend was Friday, May 2nd. Costco Wholesale’s payout ratio is presently 30.36%.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Costco Wholesale in a research note on Friday, March 7th. Mizuho assumed coverage on shares of Costco Wholesale in a report on Friday, April 11th. They set a “neutral” rating and a $975.00 target price on the stock. JPMorgan Chase & Co. increased 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. Loop Capital dropped their target price on shares of Costco Wholesale from $1,150.00 to $1,045.00 and set a “buy” rating on the stock in a report on Wednesday, April 9th. Finally, Barclays increased their target price on shares of Costco Wholesale from $940.00 to $980.00 and gave the stock an “equal weight” rating in a report on Monday, March 10th. Ten analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $1,024.03.

Insider Buying and Selling at Costco Wholesale

In related news, CEO Roland Michael Vachris sold 3,600 shares of the business’s stock in a transaction 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 completion of the transaction, 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 transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Claudine Adamo sold 900 shares of the company’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 transaction, the executive vice president now owns 6,987 shares of the company’s stock, valued at $6,445,926.72. This represents a 11.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 9,600 shares of company stock worth $9,140,195. Company insiders own 0.18% of the company’s stock.

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.