Sandy Cove Advisors LLC Has $578,000 Stock Holdings in Costco Wholesale Co. (NASDAQ:COST)

Sandy Cove Advisors LLC boosted its holdings in Costco Wholesale Co. (NASDAQ:COST) by 14.5% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 788 shares of the retailer’s stock after buying an additional 100 shares during the quarter. Sandy Cove Advisors LLC’s holdings in Costco Wholesale were worth $578,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. D.B. Root & Company LLC lifted its holdings in Costco Wholesale by 4.7% in the first quarter. D.B. Root & Company LLC now owns 3,726 shares of the retailer’s stock valued at $2,730,000 after buying an additional 166 shares during the period. Trilogy Capital Inc. purchased a new position in Costco Wholesale during the first quarter worth about $213,000. Red Door Wealth Management LLC grew its position in Costco Wholesale by 4.3% in the 1st quarter. Red Door Wealth Management LLC now owns 12,089 shares of the retailer’s stock worth $8,857,000 after purchasing an additional 498 shares in the last quarter. Cornerstone Wealth Group LLC increased its stake in Costco Wholesale by 17.5% in the 1st quarter. Cornerstone Wealth Group LLC now owns 5,408 shares of the retailer’s stock valued at $3,962,000 after buying an additional 807 shares during the last quarter. Finally, Richardson Capital Management LLC lifted its position in shares of Costco Wholesale by 370.4% during the 1st quarter. Richardson Capital Management LLC now owns 127 shares of the retailer’s stock worth $93,000 after buying an additional 100 shares in the last quarter. Institutional investors own 68.48% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Russell D. Miller sold 785 shares of the company’s stock in a transaction dated Wednesday, April 17th. The stock was 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 of the company’s stock, valued at $7,228,600. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 0.18% of the company’s stock.

Analyst Upgrades and Downgrades

COST has been the subject of a number of research reports. Citigroup boosted their price target on shares of Costco Wholesale from $710.00 to $800.00 and gave the stock a “neutral” rating in a research note on Friday, May 31st. Wells Fargo & Company boosted their price objective on shares of Costco Wholesale from $750.00 to $775.00 and gave the stock an “equal weight” rating in a research note on Friday, May 31st. BMO Capital Markets restated an “outperform” rating and set a $875.00 price objective (up previously from $800.00) on shares of Costco Wholesale in a report on Friday, May 31st. Roth Mkm restated a “neutral” rating and issued a $676.00 price objective (up previously from $650.00) on shares of Costco Wholesale in a research report on Friday, May 31st. Finally, Telsey Advisory Group increased their price target on Costco Wholesale from $850.00 to $900.00 and gave the company an “outperform” rating in a report on Thursday, June 6th. Seven analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $756.85.

Costco Wholesale Price Performance

NASDAQ:COST opened at $849.99 on Monday. The stock has a fifty day moving average of $801.95 and a 200 day moving average of $740.64. Costco Wholesale Co. has a 52-week low of $524.63 and a 52-week high of $873.96. The firm has a market capitalization of $376.83 billion, a price-to-earnings ratio of 52.66, a P/E/G ratio of 5.63 and a beta of 0.78. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.45 and a current ratio of 0.94.

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

Costco Wholesale Increases Dividend

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

Costco Wholesale Company 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.