Breakwater Capital Group Buys 668 Shares of Costco Wholesale Co. (NASDAQ:COST)

Breakwater Capital Group grew its stake in shares of Costco Wholesale Co. (NASDAQ:COST) by 203.0% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 997 shares of the retailer’s stock after acquiring an additional 668 shares during the period. Breakwater Capital Group’s holdings in Costco Wholesale were worth $730,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in Costco Wholesale by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 40,360,168 shares of the retailer’s stock worth $26,640,940,000 after buying an additional 485,051 shares in the last quarter. Norges Bank bought a new position in Costco Wholesale in the fourth quarter worth approximately $3,628,694,000. Capital World Investors raised its stake in Costco Wholesale by 3.9% in the fourth quarter. Capital World Investors now owns 3,539,245 shares of the retailer’s stock worth $2,336,198,000 after buying an additional 132,292 shares in the last quarter. International Assets Investment Management LLC raised its stake in Costco Wholesale by 61,693.5% in the fourth quarter. International Assets Investment Management LLC now owns 3,105,124 shares of the retailer’s stock worth $2,049,630,000 after buying an additional 3,100,099 shares in the last quarter. Finally, Fisher Asset Management LLC raised its stake in Costco Wholesale by 3.2% in the fourth quarter. Fisher Asset Management LLC now owns 2,794,480 shares of the retailer’s stock worth $1,844,581,000 after buying an additional 85,398 shares in the last quarter. Institutional investors own 68.48% of the company’s stock.

Insiders Place Their Bets

In other Costco Wholesale news, EVP Russell D. Miller sold 785 shares of the company’s stock in a transaction dated Wednesday, April 17th. The shares were sold at an average price of $722.86, for a total value of $567,445.10. Following the completion of the transaction, the executive vice president now owns 10,000 shares in the company, valued at $7,228,600. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.18% of the company’s stock.

Costco Wholesale Trading Down 0.1 %

NASDAQ COST opened at $849.99 on Monday. The company has a market capitalization of $376.83 billion, a PE ratio of 52.66, a P/E/G ratio of 5.63 and a beta of 0.78. The company has a fifty day moving average of $801.95 and a 200 day moving average of $740.64. Costco Wholesale Co. has a 1 year low of $524.63 and a 1 year high of $873.96. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.94 and a quick ratio of 0.45.

Costco Wholesale (NASDAQ:COST) last posted its earnings results on Thursday, May 30th. The retailer reported $3.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.70 by $0.08. The company had revenue of $58.52 billion during the quarter, compared to the consensus estimate of $58.16 billion. Costco Wholesale had a net margin of 2.83% and a return on equity of 30.02%. The firm’s quarterly revenue was up 9.1% on a year-over-year basis. During the same period in the previous year, the firm posted $3.43 earnings per share. Research analysts forecast that Costco Wholesale Co. will post 15.96 earnings per share for the current year.

Costco Wholesale Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 10th. Shareholders of record on Friday, April 26th were given a $1.16 dividend. The ex-dividend date of this dividend was Thursday, April 25th. This represents a $4.64 dividend on an annualized basis and a dividend yield of 0.55%. This is an increase from Costco Wholesale’s previous quarterly dividend of $1.02. Costco Wholesale’s dividend payout ratio is 28.75%.

Wall Street Analyst Weigh In

COST has been the subject of a number of recent research reports. Telsey Advisory Group boosted their price objective on shares of Costco Wholesale from $850.00 to $900.00 and gave the stock an “outperform” rating in a research note on Thursday, June 6th. Truist Financial lifted their price target on shares of Costco Wholesale from $815.00 to $873.00 and gave the stock a “buy” rating in a report on Friday, May 31st. Stifel Nicolaus lifted their price target on shares of Costco Wholesale from $800.00 to $850.00 and gave the stock a “buy” rating in a report on Friday, May 31st. Evercore ISI lifted their price target on shares of Costco Wholesale from $860.00 to $890.00 and gave the stock an “outperform” rating in a report on Thursday, June 20th. Finally, Oppenheimer lifted their price target on shares of Costco Wholesale from $850.00 to $905.00 and gave the stock an “outperform” rating in a report on Thursday, June 6th. Seven investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $756.85.

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.