Heritage Wealth Management Inc. Has $1.68 Million Stake in Costco Wholesale Corporation (NASDAQ:COST)

Heritage Wealth Management Inc. boosted its position in Costco Wholesale Corporation (NASDAQ:COST) by 2.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,771 shares of the retailer’s stock after buying an additional 39 shares during the period. Heritage Wealth Management Inc.’s holdings in Costco Wholesale were worth $1,675,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Investment Management Corp VA ADV acquired a new position in Costco Wholesale in the fourth quarter valued at $25,000. Clear Investment Research LLC lifted its holdings in Costco Wholesale by 22.2% in the fourth quarter. Clear Investment Research LLC now owns 55 shares of the retailer’s stock valued at $51,000 after buying an additional 10 shares during the period. Aspect Partners LLC increased its stake in Costco Wholesale by 24.4% in the first quarter. Aspect Partners LLC now owns 56 shares of the retailer’s stock valued at $53,000 after purchasing an additional 11 shares in the last quarter. Capital A Wealth Management LLC bought a new stake in Costco Wholesale in the fourth quarter valued at $58,000. Finally, Mascagni Wealth Management Inc. bought a new stake in Costco Wholesale in the fourth quarter valued at $59,000. Institutional investors and hedge funds own 68.48% of the company’s stock.

Wall Street Analyst Weigh In

COST has been the subject of several research analyst reports. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $1,100.00 price target on shares of Costco Wholesale in a research note on Thursday. Morgan Stanley lifted their price target on shares of Costco Wholesale from $1,150.00 to $1,225.00 and gave the company an “overweight” rating in a research note on Friday, May 30th. Truist Financial lifted their price target on shares of Costco Wholesale from $995.00 to $1,042.00 and gave the company a “hold” rating in a research note on Friday, May 30th. Mizuho initiated coverage on shares of Costco Wholesale in a research note on Friday, April 11th. They issued a “neutral” rating and a $975.00 price target for the company. Finally, Cfra Research raised shares of Costco Wholesale from a “hold” rating to a “moderate buy” rating in a research note on Friday, April 4th. Nine investment analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company. Based on data from MarketBeat, Costco Wholesale presently has an average rating of “Moderate Buy” and an average price target of $1,034.79.

Costco Wholesale Stock Up 0.4%

Costco Wholesale stock opened at $986.27 on Monday. Costco Wholesale Corporation has a fifty-two week low of $793.00 and a fifty-two week high of $1,078.24. The stock has a market cap of $437.39 billion, a PE ratio of 55.94, a price-to-earnings-growth ratio of 6.14 and a beta of 0.97. The firm’s 50-day simple moving average is $1,005.20 and its 200 day simple moving average is $981.38. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.52 and a current ratio of 1.02.

Costco Wholesale (NASDAQ:COST) last released its quarterly earnings results on Thursday, May 29th. The retailer reported $4.28 earnings per share for the quarter, topping the consensus estimate of $4.24 by $0.04. Costco Wholesale had a net margin of 2.92% and a return on equity of 30.48%. The business had revenue of $63.21 billion for the quarter, compared to analysts’ expectations of $62.93 billion. During the same period in the previous year, the company earned $3.78 earnings per share. The firm’s revenue for the quarter was up 8.0% compared to the same quarter last year. Research analysts predict that Costco Wholesale Corporation will post 18.03 EPS for the current fiscal year.

Costco Wholesale Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 16th. Investors of record on Friday, May 2nd were issued a dividend of $1.30 per share. The ex-dividend date of this dividend was Friday, May 2nd. This is a boost from Costco Wholesale’s previous quarterly dividend of $1.16. This represents a $5.20 annualized dividend and a yield of 0.53%. Costco Wholesale’s payout ratio is 29.50%.

Insider Activity at Costco Wholesale

In other Costco Wholesale news, EVP Patrick J. Callans sold 3,000 shares of the business’s stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $1,002.77, for a total value of $3,008,310.00. Following the transaction, the executive vice president directly owned 58,543 shares in the company, valued at $58,705,164.11. The trade was a 4.87% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Susan L. Decker sold 547 shares of the business’s stock in a transaction dated Wednesday, June 18th. The shares were sold at an average price of $980.00, for a total transaction of $536,060.00. Following the completion of the transaction, the director owned 11,531 shares in the company, valued at approximately $11,300,380. The trade was a 4.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 9,547 shares of company stock valued at $9,496,950 in the last three months. Insiders own 0.18% of the company’s stock.

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.