JPL Wealth Management LLC Makes New $6.61 Million Investment in Costco Wholesale Co. (NASDAQ:COST)

JPL Wealth Management LLC purchased a new stake in Costco Wholesale Co. (NASDAQ:COST) in the fourth quarter, according to its most recent filing with the SEC. The fund purchased 7,209 shares of the retailer’s stock, valued at approximately $6,605,000. Costco Wholesale comprises 1.9% of JPL Wealth Management LLC’s portfolio, making the stock its 10th biggest position.

A number of other institutional investors have also made changes to their positions in the company. Phillips Financial Management LLC increased its holdings in shares of Costco Wholesale by 10.7% in the 4th quarter. Phillips Financial Management LLC now owns 310 shares of the retailer’s stock valued at $284,000 after acquiring an additional 30 shares during the last quarter. Impact Capital Partners LLC acquired a new position in Costco Wholesale during the 4th quarter valued at approximately $1,574,000. Commonwealth Equity Services LLC boosted its position in Costco Wholesale by 1.3% during the 4th quarter. Commonwealth Equity Services LLC now owns 406,755 shares of the retailer’s stock valued at $372,697,000 after purchasing an additional 5,051 shares during the period. DecisionMap Wealth Management LLC acquired a new position in Costco Wholesale during the 4th quarter valued at approximately $381,000. Finally, IAG Wealth Partners LLC boosted its position in Costco Wholesale by 36.6% during the 4th quarter. IAG Wealth Partners LLC now owns 373 shares of the retailer’s stock valued at $342,000 after purchasing an additional 100 shares during the period. 68.48% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have issued reports on COST shares. Cowen reiterated a “buy” rating on shares of Costco Wholesale in a research report on Friday, March 7th. Robert W. Baird upped their price objective on Costco Wholesale from $1,075.00 to $1,125.00 and gave the company an “outperform” rating in a report on Friday, March 7th. Jefferies Financial Group upped their price objective on Costco Wholesale from $1,050.00 to $1,145.00 and gave the company a “buy” rating in a report on Thursday, December 5th. Morgan Stanley upped their price objective on Costco Wholesale from $950.00 to $1,150.00 and gave the company an “overweight” rating in a report on Friday, December 13th. Finally, JPMorgan Chase & Co. upped their price objective on Costco Wholesale from $1,065.00 to $1,070.00 and gave the company an “overweight” rating in a report on Friday, March 7th. Nine analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company’s stock. According to data from MarketBeat, Costco Wholesale currently has an average rating of “Moderate Buy” and an average price target of $1,030.43.

Costco Wholesale Price Performance

Shares of NASDAQ:COST opened at $927.08 on Thursday. The business has a 50 day moving average price of $990.44 and a 200 day moving average price of $944.52. Costco Wholesale Co. has a twelve month low of $697.27 and a twelve month high of $1,078.24. The company has a market cap of $411.53 billion, a price-to-earnings ratio of 54.44, a PEG ratio of 6.15 and a beta of 0.81. The company has a quick ratio of 0.43, a current ratio of 0.98 and a debt-to-equity ratio of 0.23.

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

Costco Wholesale Announces Dividend

The company 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 of this dividend was Friday, February 7th. This represents a $4.64 dividend on an annualized basis and a dividend yield of 0.50%. Costco Wholesale’s dividend payout ratio is currently 27.09%.

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.