Rockline Wealth Management LLC Has $8.61 Million Position in Costco Wholesale Corporation (NASDAQ:COST)

Rockline Wealth Management LLC lifted its holdings in Costco Wholesale Corporation (NASDAQ:COST) by 1.5% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,098 shares of the retailer’s stock after acquiring an additional 131 shares during the period. Costco Wholesale accounts for about 2.4% of Rockline Wealth Management LLC’s portfolio, making the stock its 9th biggest holding. Rockline Wealth Management LLC’s holdings in Costco Wholesale were worth $8,605,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the business. Investment Management Corp VA ADV purchased a new stake in shares of Costco Wholesale in the fourth quarter worth about $25,000. Synergy Investment Management LLC purchased a new stake in shares of Costco Wholesale in the fourth quarter worth about $31,000. NewSquare Capital LLC lifted its position in shares of Costco Wholesale by 250.0% in the fourth quarter. NewSquare Capital LLC now owns 35 shares of the retailer’s stock worth $32,000 after buying an additional 25 shares in the last quarter. Clear Investment Research LLC lifted its position in shares of Costco Wholesale by 22.2% in the fourth quarter. Clear Investment Research LLC now owns 55 shares of the retailer’s stock worth $51,000 after buying an additional 10 shares in the last quarter. Finally, Capital A Wealth Management LLC purchased a new stake in shares of Costco Wholesale in the fourth quarter worth about $58,000. Institutional investors own 68.48% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Wall Street Zen upgraded Costco Wholesale from a “hold” rating to a “buy” rating in a research report on Friday, June 6th. JPMorgan Chase & Co. boosted their target price on Costco Wholesale from $1,065.00 to $1,070.00 and gave the company an “overweight” rating in a research report on Friday, March 7th. Cowen restated a “buy” rating on shares of Costco Wholesale in a report on Friday, March 7th. Robert W. Baird increased their price target on Costco Wholesale from $1,075.00 to $1,125.00 and gave the company an “outperform” rating in a report on Friday, March 7th. Finally, Loop Capital decreased their price target on Costco Wholesale from $1,115.00 to $1,110.00 and set a “buy” rating on the stock in a report on Thursday, May 29th. Nine research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $1,034.79.

Insider Activity at Costco Wholesale

In related news, EVP Claudine Adamo sold 900 shares of Costco Wholesale stock in a transaction that occurred 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 completion of 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 Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Susan L. Decker sold 547 shares of Costco Wholesale 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 now owns 11,531 shares of the company’s stock, valued at approximately $11,300,380. This represents a 4.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 11,547 shares of company stock worth $11,361,265. 0.18% of the stock is owned by corporate insiders.

Costco Wholesale Trading Up 0.6%

Costco Wholesale stock opened at $980.29 on Friday. 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 Corporation has a 52 week low of $793.00 and a 52 week high of $1,078.24. The company has a market capitalization of $434.74 billion, a price-to-earnings ratio of 55.60, a price-to-earnings-growth ratio of 5.76 and a beta of 1.00. The stock has a 50-day moving average price of $1,002.94 and a 200 day moving average price of $981.10.

Costco Wholesale (NASDAQ:COST) last announced its quarterly earnings results on Thursday, May 29th. The retailer reported $4.28 earnings per share for the quarter, beating the consensus estimate 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%. Costco Wholesale’s quarterly revenue was up 8.0% on a year-over-year basis. During the same period last year, the business earned $3.78 earnings per share. Sell-side analysts anticipate that Costco Wholesale Corporation will post 18.03 EPS for the current year.

Costco Wholesale Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 16th. Investors of record on Friday, May 2nd were given a dividend of $1.30 per share. This is a boost from Costco Wholesale’s previous quarterly dividend of $1.16. This represents a $5.20 annualized dividend and a yield of 0.53%. The ex-dividend date was Friday, May 2nd. Costco Wholesale’s dividend payout ratio (DPR) is currently 29.50%.

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.