Prestige Wealth Management Group LLC Increases Holdings in Costco Wholesale Co. (NASDAQ:COST)

Prestige Wealth Management Group LLC lifted its holdings in shares of Costco Wholesale Co. (NASDAQ:COST) by 2.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,697 shares of the retailer’s stock after purchasing an additional 74 shares during the period. Prestige Wealth Management Group LLC’s holdings in Costco Wholesale were worth $2,471,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Proficio Capital Partners LLC raised its stake in shares of Costco Wholesale by 74,796.3% in the fourth quarter. Proficio Capital Partners LLC now owns 1,521,893 shares of the retailer’s stock valued at $1,394,465,000 after buying an additional 1,519,861 shares during the period. Strategic Financial Concepts LLC increased its holdings in Costco Wholesale by 100,422.3% in the 4th quarter. Strategic Financial Concepts LLC now owns 796,137 shares of the retailer’s stock worth $729,476,000 after acquiring an additional 795,345 shares during the last quarter. Vanguard Group Inc. raised its stake in Costco Wholesale by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 42,201,610 shares of the retailer’s stock valued at $38,668,069,000 after acquiring an additional 455,043 shares during the period. Assenagon Asset Management S.A. lifted its holdings in Costco Wholesale by 55.7% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,068,772 shares of the retailer’s stock valued at $979,284,000 after purchasing an additional 382,367 shares during the last quarter. Finally, FMR LLC boosted its position in Costco Wholesale by 3.6% during the third quarter. FMR LLC now owns 9,308,615 shares of the retailer’s stock worth $8,252,274,000 after purchasing an additional 324,973 shares during the period. Institutional investors own 68.48% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. Telsey Advisory Group restated an “outperform” rating and set a $1,100.00 price target on shares of Costco Wholesale in a research note on Monday, March 3rd. Roth Mkm raised their price target on Costco Wholesale from $755.00 to $907.00 and gave the stock a “neutral” rating in a report on Friday, December 13th. JPMorgan Chase & Co. boosted their price objective on Costco Wholesale from $1,065.00 to $1,070.00 and gave the company an “overweight” rating in a research note on Friday, March 7th. Wells Fargo & Company raised their target price on Costco Wholesale from $950.00 to $1,000.00 and gave the stock an “equal weight” rating in a research note on Friday, December 13th. Finally, Oppenheimer reissued an “outperform” rating and issued a $1,075.00 price target (up from $980.00) on shares of Costco Wholesale in a report on Tuesday, December 10th. Nine investment analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $1,029.00.

Costco Wholesale Price Performance

COST stock opened at $926.04 on Tuesday. The firm has a market cap of $410.87 billion, a P/E ratio of 54.38, a P/E/G ratio of 6.15 and a beta of 0.82. The firm’s fifty day moving average is $987.58 and its 200 day moving average is $945.73. Costco Wholesale Co. has a 52 week low of $697.27 and a 52 week high of $1,078.24. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.43 and a current ratio of 0.98.

Costco Wholesale (NASDAQ:COST) last released its quarterly earnings data on Thursday, March 6th. The retailer reported $4.02 EPS for the quarter, missing the consensus estimate of $4.09 by ($0.07). The company had revenue of $63.72 billion during the quarter, compared to analysts’ expectations of $63.02 billion. Costco Wholesale had a return on equity of 32.31% and a net margin of 2.93%. Research analysts predict that Costco Wholesale Co. will post 18.03 earnings per share for the current year.

Costco Wholesale Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 21st. Shareholders of record on Friday, February 7th were given a $1.16 dividend. The ex-dividend date was Friday, February 7th. This represents a $4.64 annualized dividend and a yield of 0.50%. Costco Wholesale’s payout ratio is currently 27.09%.

Insider Activity

In other Costco Wholesale news, CEO Roland Michael Vachris sold 3,600 shares of the stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $931.00, for a total transaction of $3,351,600.00. Following the completion of the sale, the chief executive officer now owns 41,077 shares of the company’s stock, valued at $38,242,687. This represents a 8.06 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.18% of the company’s stock.

Costco Wholesale 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.