C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors Boosts Stock Position in Costco Wholesale Corporation (NASDAQ:COST)

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors boosted its holdings in Costco Wholesale Corporation (NASDAQ:COST) by 17.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,791 shares of the retailer’s stock after purchasing an additional 414 shares during the period. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors’ holdings in Costco Wholesale were worth $2,664,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Peninsula Wealth LLC increased its position in shares of Costco Wholesale by 1.2% during the 4th quarter. Peninsula Wealth LLC now owns 818 shares of the retailer’s stock valued at $749,000 after purchasing an additional 10 shares during the last quarter. Bosun Asset Management LLC increased its position in shares of Costco Wholesale by 1.6% during the 4th quarter. Bosun Asset Management LLC now owns 636 shares of the retailer’s stock valued at $583,000 after purchasing an additional 10 shares during the last quarter. Corps Capital Advisors LLC increased its position in shares of Costco Wholesale by 0.7% during the 1st quarter. Corps Capital Advisors LLC now owns 1,547 shares of the retailer’s stock valued at $1,463,000 after purchasing an additional 10 shares during the last quarter. Covestor Ltd increased its position in shares of Costco Wholesale by 8.6% during the 1st quarter. Covestor Ltd now owns 126 shares of the retailer’s stock valued at $119,000 after purchasing an additional 10 shares during the last quarter. Finally, Coppell Advisory Solutions LLC increased its position in shares of Costco Wholesale by 0.3% during the 4th quarter. Coppell Advisory Solutions LLC now owns 3,437 shares of the retailer’s stock valued at $3,163,000 after purchasing an additional 11 shares during the last quarter. Hedge funds and other institutional investors own 68.48% of the company’s stock.

Insider Buying and Selling

In related news, EVP Yoram Rubanenko sold 4,000 shares of the firm’s stock in a transaction that occurred on Monday, July 14th. The stock was sold at an average price of $974.96, for a total transaction of $3,899,840.00. Following the completion of the transaction, the executive vice president owned 5,774 shares of the company’s stock, valued at $5,629,419.04. This trade represents a 40.92% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Susan L. Decker sold 547 shares of the firm’s stock in a transaction that occurred on Wednesday, June 18th. The shares were sold at an average price of $980.00, for a total value of $536,060.00. Following the transaction, the director directly owned 11,531 shares of the company’s stock, valued at approximately $11,300,380. This trade represents a 4.53% decrease in their position. The disclosure for this sale can be found here. Insiders sold 9,547 shares of company stock worth $9,472,510 in the last 90 days. Corporate insiders own 0.18% of the company’s stock.

Costco Wholesale Trading Up 0.4%

COST opened at $980.98 on Monday. The stock has a market cap of $435.05 billion, a PE ratio of 55.64, a PEG ratio of 6.10 and a beta of 0.96. The company has a quick ratio of 0.52, a current ratio of 1.02 and a debt-to-equity ratio of 0.21. The business has a 50 day moving average of $977.93 and a 200-day moving average of $985.43. Costco Wholesale Corporation has a 52 week low of $837.63 and a 52 week high of $1,078.23.

Costco Wholesale (NASDAQ:COST) last released its earnings results on Thursday, May 29th. The retailer reported $4.28 EPS for the quarter, beating analysts’ consensus estimates of $4.24 by $0.04. The company had revenue of $63.21 billion during the quarter, compared to analysts’ expectations of $62.93 billion. Costco Wholesale had a return on equity of 30.48% and a net margin of 2.92%. The firm’s revenue for the quarter was up 8.0% compared to the same quarter last year. During the same quarter last year, the business posted $3.78 EPS. Equities research analysts predict that Costco Wholesale Corporation will post 18.03 earnings per share for the current fiscal year.

Costco Wholesale Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Friday, August 1st will be given a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend is Friday, August 1st. Costco Wholesale’s dividend payout ratio (DPR) is 29.50%.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Morgan Stanley increased their price objective on Costco Wholesale from $1,150.00 to $1,225.00 and gave the company an “overweight” rating in a research report on Friday, May 30th. Truist Financial increased their price objective on Costco Wholesale from $995.00 to $1,042.00 and gave the company a “hold” rating in a research report on Friday, May 30th. Loop Capital reduced their price objective on Costco Wholesale from $1,115.00 to $1,110.00 and set a “buy” rating on the stock in a research report on Thursday, May 29th. Telsey Advisory Group reiterated an “outperform” rating and set a $1,100.00 price objective on shares of Costco Wholesale in a research report on Monday, August 4th. Finally, Stifel Nicolaus set a $1,035.00 target price on Costco Wholesale in a report on Thursday, May 29th. Ten research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $1,050.00.

Costco Wholesale 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.