TrinityPoint Wealth LLC Grows Position in Costco Wholesale Co. (NASDAQ:COST)

TrinityPoint Wealth LLC lifted its position in Costco Wholesale Co. (NASDAQ:COST) by 0.7% in the fourth quarter, HoldingsChannel reports. The firm owned 2,217 shares of the retailer’s stock after buying an additional 16 shares during the period. TrinityPoint Wealth LLC’s holdings in Costco Wholesale were worth $2,031,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the company. Synergy Investment Management LLC acquired a new position in Costco Wholesale in the fourth quarter valued at about $31,000. NewSquare Capital LLC lifted its position in shares of Costco Wholesale by 250.0% during the fourth quarter. NewSquare Capital LLC now owns 35 shares of the retailer’s stock worth $32,000 after purchasing an additional 25 shares in the last quarter. Endeavor Private Wealth Inc. acquired a new stake in shares of Costco Wholesale during the fourth quarter worth about $33,000. Collier Financial acquired a new stake in shares of Costco Wholesale during the fourth quarter worth about $35,000. Finally, Barrett & Company Inc. lifted its position in shares of Costco Wholesale by 59.3% during the fourth quarter. Barrett & Company Inc. now owns 43 shares of the retailer’s stock worth $39,000 after purchasing an additional 16 shares in the last quarter. Hedge funds and other institutional investors own 68.48% of the company’s stock.

Costco Wholesale Stock Performance

Shares of Costco Wholesale stock opened at $1,025.83 on Friday. The firm has a market capitalization of $455.14 billion, a P/E ratio of 60.24, a P/E/G ratio of 6.15 and a beta of 1.00. Costco Wholesale Co. has a 52 week low of $788.20 and a 52 week high of $1,078.24. The company has a quick ratio of 0.43, a current ratio of 0.98 and a debt-to-equity ratio of 0.23. The firm’s 50 day moving average is $961.47 and its two-hundred day moving average is $967.73.

Costco Wholesale (NASDAQ:COST) last announced its 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). The business had revenue of $63.72 billion for the quarter, compared to analysts’ expectations of $63.02 billion. Costco Wholesale had a return on equity of 32.31% and a net margin of 2.93%. Research analysts forecast that Costco Wholesale Co. will post 18.03 EPS for the current fiscal year.

Costco Wholesale Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 16th. Stockholders of record on Friday, May 2nd were given a dividend of $1.30 per share. The ex-dividend date was Friday, May 2nd. This is a positive change from Costco Wholesale’s previous quarterly dividend of $1.16. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.51%. Costco Wholesale’s dividend payout ratio (DPR) is 30.36%.

Insider Transactions at Costco Wholesale

In other news, EVP Claudine Adamo sold 900 shares of the firm’s stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $922.56, for a total transaction of $830,304.00. Following the transaction, the executive vice president now directly owns 6,987 shares in the company, valued at approximately $6,445,926.72. This trade represents a 11.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Roland Michael Vachris sold 3,600 shares of the firm’s stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 41,077 shares in the company, valued at approximately $38,242,687. This trade represents a 8.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 9,600 shares of company stock worth $9,140,195. Insiders own 0.18% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on COST. Stifel Nicolaus reduced their price target on shares of Costco Wholesale from $1,075.00 to $1,035.00 and set a “buy” rating on the stock in a research report on Thursday, March 20th. Barclays increased their price target on shares of Costco Wholesale from $940.00 to $980.00 and gave the stock an “equal weight” rating in a research report on Monday, March 10th. Loop Capital reduced their price target on shares of Costco Wholesale from $1,150.00 to $1,045.00 and set a “buy” rating on the stock in a research report on Wednesday, April 9th. Cfra Research raised shares of Costco Wholesale from a “hold” rating to a “moderate buy” rating in a research report on Friday, April 4th. Finally, Truist Financial increased their price target on shares of Costco Wholesale from $935.00 to $995.00 and gave the stock a “hold” rating in a research report on Friday, March 7th. Ten research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $1,024.03.

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.