Graypoint LLC Purchases 59 Shares of Costco Wholesale Corporation (NASDAQ:COST)

Graypoint LLC boosted its position in Costco Wholesale Corporation (NASDAQ:COST) by 1.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,278 shares of the retailer’s stock after purchasing an additional 59 shares during the quarter. Graypoint LLC’s holdings in Costco Wholesale were worth $3,101,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Ascent Wealth Partners LLC increased its holdings in shares of Costco Wholesale by 2.9% during the first quarter. Ascent Wealth Partners LLC now owns 1,736 shares of the retailer’s stock valued at $1,642,000 after acquiring an additional 49 shares in the last quarter. Legacy Capital Wealth Partners LLC increased its holdings in shares of Costco Wholesale by 8.2% during the first quarter. Legacy Capital Wealth Partners LLC now owns 752 shares of the retailer’s stock valued at $712,000 after acquiring an additional 57 shares in the last quarter. Napatree Capital LLC increased its holdings in shares of Costco Wholesale by 22.9% during the first quarter. Napatree Capital LLC now owns 446 shares of the retailer’s stock valued at $422,000 after acquiring an additional 83 shares in the last quarter. Lineweaver Wealth Advisors LLC increased its holdings in shares of Costco Wholesale by 6.5% during the first quarter. Lineweaver Wealth Advisors LLC now owns 1,904 shares of the retailer’s stock valued at $1,808,000 after acquiring an additional 116 shares in the last quarter. Finally, Allen Capital Group LLC increased its holdings in shares of Costco Wholesale by 11.0% during the first quarter. Allen Capital Group LLC now owns 566 shares of the retailer’s stock valued at $535,000 after acquiring an additional 56 shares in the last quarter. Institutional investors own 68.48% of the company’s stock.

Costco Wholesale Stock Down 1.7%

NASDAQ COST opened at $951.37 on Thursday. The stock’s 50-day moving average price is $1,001.13 and its 200-day moving average price is $982.21. The company has a market capitalization of $421.91 billion, a P/E ratio of 53.96, a price-to-earnings-growth ratio of 6.02 and a beta of 0.97. Costco Wholesale Corporation has a 52 week low of $793.00 and a 52 week high of $1,078.24. The company has a quick ratio of 0.52, a current ratio of 1.02 and a debt-to-equity ratio of 0.21.

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

Costco Wholesale Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Friday, August 1st will be issued a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 0.55%. Costco Wholesale’s dividend payout ratio is presently 29.50%.

Insiders Place Their Bets

In related news, EVP Pierre Riel sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $1,014.15, for a total value of $2,028,300.00. Following the transaction, the executive vice president directly owned 8,210 shares of the company’s stock, valued at approximately $8,326,171.50. The trade was a 19.59% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Patrick J. Callans sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $1,002.77, for a total value of $3,008,310.00. Following the completion of the transaction, the executive vice president directly owned 58,543 shares in the company, valued at approximately $58,705,164.11. This represents a 4.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 9,547 shares of company stock valued at $9,472,510 in the last 90 days. 0.18% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

COST has been the topic of several recent analyst reports. Evercore ISI dropped their price objective on Costco Wholesale from $1,075.00 to $1,060.00 and set an “outperform” rating on the stock in a research report on Tuesday, June 17th. Wall Street Zen raised Costco Wholesale from a “hold” rating to a “buy” rating in a research report on Friday, June 6th. 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. Finally, Telsey Advisory Group reaffirmed an “outperform” rating and set a $1,100.00 price objective on shares of Costco Wholesale in a research report on Thursday, July 10th. Nine research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $1,037.48.

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.