Horizon Wealth Management LLC Invests $202,000 in Costco Wholesale Co. (NASDAQ:COST)

Horizon Wealth Management LLC bought a new position in Costco Wholesale Co. (NASDAQ:COST) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 276 shares of the retailer’s stock, valued at approximately $202,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in COST. Sherbrooke Park Advisers LLC purchased a new stake in Costco Wholesale in the third quarter worth $473,000. Logan Capital Management Inc. lifted its stake in Costco Wholesale by 35.3% in the third quarter. Logan Capital Management Inc. now owns 2,684 shares of the retailer’s stock worth $1,517,000 after acquiring an additional 700 shares during the period. Axxcess Wealth Management LLC lifted its stake in Costco Wholesale by 65.3% in the third quarter. Axxcess Wealth Management LLC now owns 14,431 shares of the retailer’s stock worth $8,153,000 after acquiring an additional 5,703 shares during the period. AXQ Capital LP lifted its stake in Costco Wholesale by 600.0% in the third quarter. AXQ Capital LP now owns 3,500 shares of the retailer’s stock worth $1,977,000 after acquiring an additional 3,000 shares during the period. Finally, Ameriprise Financial Inc. lifted its stake in Costco Wholesale by 9.1% in the third quarter. Ameriprise Financial Inc. now owns 1,767,810 shares of the retailer’s stock worth $1,000,345,000 after acquiring an additional 147,720 shares during the period. Institutional investors own 68.48% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Gordon Haskett lowered Costco Wholesale from a “buy” rating to an “accumulate” rating and set a $775.00 price target for the company. in a research note on Wednesday, April 3rd. BMO Capital Markets reissued an “outperform” rating and set a $875.00 price objective (up previously from $800.00) on shares of Costco Wholesale in a research report on Friday, May 31st. Loop Capital raised their price objective on Costco Wholesale from $890.00 to $940.00 and gave the company a “buy” rating in a research report on Friday, June 14th. Citigroup raised their price objective on Costco Wholesale from $710.00 to $800.00 and gave the company a “neutral” rating in a research report on Friday, May 31st. Finally, TD Cowen raised their price objective on Costco Wholesale from $777.00 to $850.00 and gave the company a “buy” rating in a research report on Friday, May 31st. Seven investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. According to data from MarketBeat.com, Costco Wholesale currently has an average rating of “Moderate Buy” and a consensus target price of $756.85.

Insider Buying and Selling

In other Costco Wholesale news, EVP Russell D. Miller sold 785 shares of the business’s stock in a transaction dated 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 sale, the executive vice president now directly owns 10,000 shares in the company, valued at approximately $7,228,600. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.18% of the stock is owned by corporate insiders.

Costco Wholesale Price Performance

NASDAQ COST opened at $845.67 on Tuesday. Costco Wholesale Co. has a one year low of $524.63 and a one year high of $873.96. The stock has a 50-day moving average of $801.95 and a 200 day moving average of $740.64. The company has a market capitalization of $374.91 billion, a price-to-earnings ratio of 52.40, a PEG 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 released its quarterly earnings data on Thursday, May 30th. The retailer reported $3.78 EPS for the quarter, topping the consensus estimate of $3.70 by $0.08. Costco Wholesale had a return on equity of 30.02% and a net margin of 2.83%. The company had revenue of $58.52 billion during the quarter, compared to the consensus estimate of $58.16 billion. During the same period last year, the company earned $3.43 EPS. Costco Wholesale’s revenue for the quarter was up 9.1% on a year-over-year basis. On average, sell-side analysts forecast that Costco Wholesale Co. will post 15.96 EPS for the current year.

Costco Wholesale Increases Dividend

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