Red Door Wealth Management LLC Boosts Holdings in Costco Wholesale Co. (NASDAQ:COST)

Red Door Wealth Management LLC grew its stake in shares of Costco Wholesale Co. (NASDAQ:COST) by 4.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,089 shares of the retailer’s stock after acquiring an additional 498 shares during the quarter. Costco Wholesale comprises about 1.7% of Red Door Wealth Management LLC’s holdings, making the stock its 13th largest position. Red Door Wealth Management LLC’s holdings in Costco Wholesale were worth $8,857,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of COST. Richelieu Gestion SA acquired a new position in Costco Wholesale in the fourth quarter valued at $25,000. Frank Rimerman Advisors LLC acquired a new position in Costco Wholesale in the fourth quarter valued at $26,000. Morton Brown Family Wealth LLC boosted its holdings in Costco Wholesale by 200.0% in the fourth quarter. Morton Brown Family Wealth LLC now owns 45 shares of the retailer’s stock valued at $30,000 after acquiring an additional 30 shares during the last quarter. Wetzel Investment Advisors Inc. acquired a new position in Costco Wholesale in the fourth quarter valued at $30,000. Finally, Vima LLC acquired a new position in Costco Wholesale in the fourth quarter valued at $34,000. 68.48% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Russell D. Miller sold 785 shares of the company’s stock in a transaction that occurred on Wednesday, April 17th. The stock was sold at an average price of $722.86, for a total transaction of $567,445.10. Following the completion of the transaction, the executive vice president now directly owns 10,000 shares of the company’s stock, valued at $7,228,600. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.18% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on COST shares. Loop Capital lifted their target price on Costco Wholesale from $890.00 to $940.00 and gave the company a “buy” rating in a report on Friday, June 14th. Roth Mkm restated a “neutral” rating and set a $676.00 price objective (up previously from $650.00) on shares of Costco Wholesale in a research note on Friday, May 31st. Barclays boosted their price objective on Costco Wholesale from $700.00 to $765.00 and gave the stock an “equal weight” rating in a research note on Friday, May 31st. StockNews.com upgraded Costco Wholesale from a “hold” rating to a “buy” rating in a research note on Sunday, June 2nd. Finally, Truist Financial boosted their price objective on Costco Wholesale from $815.00 to $873.00 and gave the stock a “buy” rating in a research note on Friday, May 31st. Seven investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $756.85.

Costco Wholesale Stock Down 0.1 %

Shares of Costco Wholesale stock opened at $849.99 on Monday. The company has a quick ratio of 0.45, a current ratio of 0.94 and a debt-to-equity ratio of 0.27. The firm has a market cap of $376.83 billion, a P/E ratio of 52.66, a P/E/G ratio of 5.63 and a beta of 0.78. Costco Wholesale Co. has a fifty-two week low of $524.63 and a fifty-two week high of $873.96. The business has a 50-day moving average price of $801.95 and a 200 day moving average price of $740.64.

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

Costco Wholesale Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 10th. Stockholders of record on Friday, April 26th were issued a dividend of $1.16 per share. The ex-dividend date was Thursday, April 25th. This is a positive change from Costco Wholesale’s previous quarterly dividend of $1.02. This represents a $4.64 annualized dividend and a dividend yield of 0.55%. Costco Wholesale’s dividend payout ratio is 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.