Single Point Partners LLC Takes $231,000 Position in Costco Wholesale Co. (NASDAQ:COST)

Single Point Partners LLC acquired a new stake in Costco Wholesale Co. (NASDAQ:COST) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 315 shares of the retailer’s stock, valued at approximately $231,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Richelieu Gestion SA acquired a new stake in Costco Wholesale during the 4th quarter worth $25,000. Frank Rimerman Advisors LLC acquired a new stake in Costco Wholesale during the 4th quarter worth $26,000. Morton Brown Family Wealth LLC raised its stake in Costco Wholesale by 200.0% during the 4th quarter. Morton Brown Family Wealth LLC now owns 45 shares of the retailer’s stock worth $30,000 after acquiring an additional 30 shares in the last quarter. Wetzel Investment Advisors Inc. purchased a new position in Costco Wholesale during the 4th quarter worth $30,000. Finally, Vima LLC purchased a new position in Costco Wholesale during the 4th quarter worth $34,000. 68.48% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

COST has been the topic of several research reports. Loop Capital raised their price objective on shares of Costco Wholesale from $890.00 to $940.00 and gave the stock a “buy” rating in a research report on Friday, June 14th. Tigress Financial lifted their target price on shares of Costco Wholesale from $745.00 to $870.00 and gave the company a “buy” rating in a report on Friday, March 15th. Argus lifted their target price on shares of Costco Wholesale from $805.00 to $900.00 and gave the company a “buy” rating in a report on Tuesday, May 28th. Roth Mkm reaffirmed a “neutral” rating and issued a $676.00 target price (up previously from $650.00) on shares of Costco Wholesale in a report on Friday, May 31st. Finally, Truist Financial lifted their target price on shares of Costco Wholesale from $815.00 to $873.00 and gave the company a “buy” rating in a report on Friday, May 31st. Seven equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $752.96.

Costco Wholesale Trading Down 0.1 %

Costco Wholesale stock traded down $0.80 during trading on Monday, reaching $847.51. The company had a trading volume of 222,346 shares, compared to its average volume of 1,970,545. Costco Wholesale Co. has a 12-month low of $521.26 and a 12-month high of $873.96. The stock’s 50 day moving average price is $788.13 and its two-hundred day moving average price is $732.58. The firm has a market capitalization of $375.73 billion, a price-to-earnings ratio of 52.56, a PEG ratio of 5.70 and a beta of 0.79. 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 released 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. Costco Wholesale had a net margin of 2.83% and a return on equity of 30.02%. The firm had revenue of $58.52 billion during the quarter, compared to the consensus estimate of $58.16 billion. During the same period in the previous year, the firm earned $3.43 earnings per share. Costco Wholesale’s revenue was up 9.1% compared to the same quarter last year. As a group, equities analysts expect that Costco Wholesale Co. will post 15.98 earnings per share for the current fiscal year.

Costco Wholesale Increases Dividend

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

Insiders Place Their Bets

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

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.