My Legacy Advisors LLC Boosts Stock Position in Costco Wholesale Co. (NASDAQ:COST)

My Legacy Advisors LLC boosted its holdings in shares of Costco Wholesale Co. (NASDAQ:COST) by 11.9% in the first quarter, Holdings Channel.com reports. The fund owned 2,902 shares of the retailer’s stock after acquiring an additional 309 shares during the quarter. Costco Wholesale comprises 1.1% of My Legacy Advisors LLC’s portfolio, making the stock its 22nd biggest holding. My Legacy Advisors LLC’s holdings in Costco Wholesale were worth $2,745,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Investment Management Corp VA ADV acquired a new position in Costco Wholesale during the 4th quarter valued at about $25,000. Synergy Investment Management LLC purchased a new stake in Costco Wholesale during the 4th quarter valued at about $31,000. NewSquare Capital LLC grew its stake in Costco Wholesale by 250.0% during the 4th quarter. NewSquare Capital LLC now owns 35 shares of the retailer’s stock valued at $32,000 after purchasing an additional 25 shares during the last quarter. Collier Financial purchased a new stake in Costco Wholesale during the 4th quarter valued at about $35,000. Finally, Clear Investment Research LLC boosted its stake in shares of Costco Wholesale by 22.2% in the fourth quarter. Clear Investment Research LLC now owns 55 shares of the retailer’s stock worth $51,000 after buying an additional 10 shares during the last quarter. 68.48% of the stock is currently owned by hedge funds and other institutional investors.

Costco Wholesale Trading Up 0.1%

COST opened at $1,007.27 on Wednesday. The business has a fifty day moving average price of $995.30 and a 200 day moving average price of $980.29. The stock has a market capitalization of $446.70 billion, a price-to-earnings ratio of 59.15, a PEG ratio of 6.15 and a beta of 1.00. Costco Wholesale Co. has a 12 month low of $793.00 and a 12 month high of $1,078.24. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.98 and a quick ratio of 0.43.

Costco Wholesale (NASDAQ:COST) last posted its earnings results on Thursday, May 29th. The retailer reported $4.28 earnings per share for the quarter, beating the consensus estimate of $4.24 by $0.04. The business had revenue of $63.21 billion during the quarter, compared to the consensus estimate of $62.93 billion. Costco Wholesale had a return on equity of 32.31% and a net margin of 2.93%. The business’s quarterly revenue was up 8.0% on a year-over-year basis. During the same period in the previous year, the business earned $3.78 EPS. Sell-side analysts expect that Costco Wholesale Co. will post 18.03 earnings per share 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 $1.30 dividend. The ex-dividend date of this dividend was Friday, May 2nd. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.52%. This is a boost from Costco Wholesale’s previous quarterly dividend of $1.16. Costco Wholesale’s dividend payout ratio is currently 29.50%.

Analyst Ratings Changes

COST has been the topic of a number of recent research reports. Mizuho started coverage on Costco Wholesale in a research note on Friday, April 11th. They issued a “neutral” rating and a $975.00 target price on the stock. Stifel Nicolaus set a $1,035.00 target price on Costco Wholesale in a report on Thursday, May 29th. Loop Capital reduced their price objective on Costco Wholesale from $1,115.00 to $1,110.00 and set a “buy” rating on the stock in a research report on Thursday, May 29th. Truist Financial lifted their price objective on Costco Wholesale from $995.00 to $1,042.00 and gave the stock a “hold” rating in a research report on Friday, May 30th. Finally, Barclays lifted their target price on Costco Wholesale from $940.00 to $980.00 and gave the company an “equal weight” rating in a research report on Monday, March 10th. Nine research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $1,035.32.

Insider Buying and Selling

In other news, EVP Pierre Riel sold 2,000 shares of the firm’s stock in a transaction on Friday, June 6th. The stock was sold at an average price of $1,014.15, for a total transaction of $2,028,300.00. Following the sale, the executive vice president now owns 8,210 shares in the company, valued at $8,326,171.50. This trade represents a 19.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP James C. Klauer sold 4,000 shares of the stock in a transaction on Thursday, April 17th. The stock was sold at an average price of $981.07, for a total value of $3,924,280.00. Following the completion of the transaction, the executive vice president now directly owns 43,994 shares in the company, valued at $43,161,193.58. This trade represents a 8.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 11,000 shares of company stock worth $10,825,205 in the last quarter. Company insiders own 0.18% of the company’s stock.

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.