Viewpoint Investment Partners Corp Invests $1.65 Million in Costco Wholesale Co. (NASDAQ:COST)

Viewpoint Investment Partners Corp purchased a new position in shares of Costco Wholesale Co. (NASDAQ:COST) in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 1,739 shares of the retailer’s stock, valued at approximately $1,645,000. Costco Wholesale makes up approximately 0.9% of Viewpoint Investment Partners Corp’s portfolio, making the stock its 11th biggest position.

Several other large investors also recently made changes to their positions in the stock. Capital & Planning LLC lifted its position in shares of Costco Wholesale by 28.7% during the 4th quarter. Capital & Planning LLC now owns 3,756 shares of the retailer’s stock worth $3,441,000 after purchasing an additional 837 shares during the last quarter. Redmond Asset Management LLC acquired a new position in shares of Costco Wholesale during the 4th quarter worth about $1,214,000. May Barnhard Investments LLC acquired a new position in shares of Costco Wholesale during the 4th quarter worth about $485,000. Ironwood Wealth Management LLC. lifted its position in shares of Costco Wholesale by 0.6% during the 4th quarter. Ironwood Wealth Management LLC. now owns 3,852 shares of the retailer’s stock worth $3,529,000 after purchasing an additional 22 shares during the last quarter. Finally, Brighton Jones LLC raised its holdings in Costco Wholesale by 12.3% in the 4th quarter. Brighton Jones LLC now owns 19,825 shares of the retailer’s stock valued at $18,165,000 after acquiring an additional 2,172 shares in the last quarter. Institutional investors own 68.48% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on COST. Cowen reaffirmed a “buy” rating on shares of Costco Wholesale in a report on Friday, March 7th. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Costco Wholesale in a report on Friday, March 7th. JPMorgan Chase & Co. upped their price target on Costco Wholesale from $1,065.00 to $1,070.00 and gave the company an “overweight” rating in a report on Friday, March 7th. Mizuho began coverage on Costco Wholesale in a report on Friday, April 11th. They issued a “neutral” rating and a $975.00 price target for the company. Finally, Evercore ISI upped their price target on Costco Wholesale from $1,070.00 to $1,075.00 and gave the company an “outperform” rating 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 stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $1,035.32.

Costco Wholesale Stock Down 1.2%

NASDAQ COST opened at $990.21 on Friday. The firm has a market cap of $439.14 billion, a PE ratio of 58.15, a price-to-earnings-growth ratio of 6.15 and a beta of 1.00. Costco Wholesale Co. has a one year low of $793.00 and a one year high of $1,078.24. The stock’s 50 day simple moving average is $1,000.43 and its 200 day simple moving average is $980.83. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.98 and a quick ratio of 0.43.

Costco Wholesale (NASDAQ:COST) last released 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. The business had revenue of $63.21 billion for the quarter, compared to analyst estimates of $62.93 billion. Costco Wholesale had a return on equity of 32.31% and a net margin of 2.93%. Costco Wholesale’s revenue for the quarter was up 8.0% on a year-over-year basis. During the same period in the prior year, the company earned $3.78 EPS. As a group, sell-side analysts forecast that Costco Wholesale Co. will post 18.03 earnings per share for the current fiscal year.

Costco Wholesale Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 16th. Shareholders of record on Friday, May 2nd were given a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 0.53%. This is a positive change from Costco Wholesale’s previous quarterly dividend of $1.16. The ex-dividend date of this dividend was Friday, May 2nd. Costco Wholesale’s dividend payout ratio (DPR) is presently 29.50%.

Insider Buying and Selling at Costco Wholesale

In other Costco Wholesale news, EVP Pierre Riel sold 2,000 shares of the stock in a transaction 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 now directly owns 8,210 shares in the company, valued at approximately $8,326,171.50. This trade represents a 19.59% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Gary Millerchip sold 1,100 shares of the stock in a transaction on Thursday, March 27th. The shares were sold at an average price of $940.01, for a total value of $1,034,011.00. Following the completion of the transaction, the executive vice president now owns 11,165 shares in the company, valued at $10,495,211.65. The trade was a 8.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 11,000 shares of company stock worth $10,825,205. Insiders own 0.18% of the company’s stock.

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.