DMC Group LLC Increases Stock Position in Costco Wholesale Co. (NASDAQ:COST)

DMC Group LLC boosted its position in Costco Wholesale Co. (NASDAQ:COST) by 7.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,020 shares of the retailer’s stock after buying an additional 141 shares during the quarter. Costco Wholesale accounts for approximately 1.3% of DMC Group LLC’s holdings, making the stock its 21st biggest holding. DMC Group LLC’s holdings in Costco Wholesale were worth $1,480,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Richelieu Gestion SA bought a new stake in shares of Costco Wholesale in the 4th quarter worth about $25,000. Frank Rimerman Advisors LLC bought a new stake in Costco Wholesale in the fourth quarter valued at about $26,000. Redmont Wealth Advisors LLC bought a new stake in Costco Wholesale in the first quarter valued at about $32,000. Morton Brown Family Wealth LLC raised its stake in Costco Wholesale by 200.0% during the fourth quarter. Morton Brown Family Wealth LLC now owns 45 shares of the retailer’s stock valued at $30,000 after buying an additional 30 shares in the last quarter. Finally, Wetzel Investment Advisors Inc. bought a new position in Costco Wholesale during the 4th quarter worth approximately $30,000. 68.48% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

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

Costco Wholesale Trading Up 0.4 %

Shares of Costco Wholesale stock opened at $862.66 on Thursday. The business has a fifty day simple moving average of $807.29 and a 200-day simple moving average of $743.56. Costco Wholesale Co. has a fifty-two week low of $524.63 and a fifty-two week high of $873.96. The firm has a market cap of $382.44 billion, a price-to-earnings ratio of 53.45, a price-to-earnings-growth ratio of 5.68 and a beta of 0.78. The company has a quick ratio of 0.45, a current ratio of 0.94 and a debt-to-equity ratio of 0.27.

Costco Wholesale (NASDAQ:COST) last issued its quarterly earnings results on Thursday, May 30th. The retailer reported $3.78 earnings per share 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%. Costco Wholesale’s revenue was up 9.1% on a year-over-year basis. During the same period in the prior year, the company earned $3.43 EPS. On average, equities analysts forecast that Costco Wholesale Co. will post 15.98 EPS for the current fiscal year.

Costco Wholesale Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 10th. Shareholders of record on Friday, April 26th were issued a $1.16 dividend. The ex-dividend date was Thursday, April 25th. This represents a $4.64 annualized dividend and a dividend yield of 0.54%. This is a boost from Costco Wholesale’s previous quarterly dividend of $1.02. Costco Wholesale’s dividend payout ratio is currently 28.75%.

Analysts Set New Price Targets

COST has been the topic of several research reports. Telsey Advisory Group upped their price target on Costco Wholesale from $850.00 to $900.00 and gave the company an “outperform” rating in a research report on Thursday, June 6th. DA Davidson restated a “neutral” rating and issued a $680.00 price target on shares of Costco Wholesale in a research report on Thursday, April 11th. Evercore ISI increased their price objective on shares of Costco Wholesale from $860.00 to $890.00 and gave the stock an “outperform” rating in a research note on Thursday, June 20th. Tigress Financial upped their target price on Costco Wholesale from $870.00 to $975.00 and gave the company a “buy” rating in a report on Tuesday, June 25th. Finally, Truist Financial raised their price target on Costco Wholesale from $815.00 to $873.00 and gave the stock a “buy” rating in a report on Friday, May 31st. Seven research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. Based on data from MarketBeat, Costco Wholesale currently has an average rating of “Moderate Buy” and a consensus price target of $758.70.

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.