IMG Wealth Management Inc. Takes Position in Costco Wholesale Co. (NASDAQ:COST)

IMG Wealth Management Inc. purchased a new stake in Costco Wholesale Co. (NASDAQ:COST) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 255 shares of the retailer’s stock, valued at approximately $234,000.

Several other hedge funds also recently added to or reduced their stakes in the business. First National Advisers LLC boosted its holdings in Costco Wholesale by 3.5% in the fourth quarter. First National Advisers LLC now owns 8,214 shares of the retailer’s stock valued at $7,526,000 after purchasing an additional 279 shares during the last quarter. GWN Securities Inc. purchased a new stake in Costco Wholesale in the fourth quarter valued at $2,037,000. Glenview Trust co boosted its holdings in Costco Wholesale by 8.5% in the fourth quarter. Glenview Trust co now owns 9,496 shares of the retailer’s stock valued at $8,701,000 after purchasing an additional 744 shares during the last quarter. Harbour Investments Inc. boosted its holdings in Costco Wholesale by 5.4% in the fourth quarter. Harbour Investments Inc. now owns 10,137 shares of the retailer’s stock valued at $9,288,000 after purchasing an additional 520 shares during the last quarter. Finally, Greenwich Wealth Management LLC boosted its stake in shares of Costco Wholesale by 10.7% during the 4th quarter. Greenwich Wealth Management LLC now owns 1,197 shares of the retailer’s stock worth $1,097,000 after acquiring an additional 116 shares in the last quarter. 68.48% of the stock is owned by hedge funds and other institutional investors.

Costco Wholesale Stock Performance

Costco Wholesale stock opened at $903.92 on Monday. The firm has a 50 day simple moving average of $989.80 and a 200-day simple moving average of $944.86. Costco Wholesale Co. has a 1-year low of $697.27 and a 1-year 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. The stock has a market cap of $401.25 billion, a price-to-earnings ratio of 53.08, a price-to-earnings-growth ratio of 6.15 and a beta of 0.82.

Costco Wholesale (NASDAQ:COST) last posted its quarterly 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 firm had revenue of $63.72 billion during the quarter, compared to analysts’ expectations of $63.02 billion. On average, analysts expect that Costco Wholesale Co. will post 18.03 EPS for the current year.

Costco Wholesale Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 21st. Stockholders of record on Friday, February 7th were paid a $1.16 dividend. The ex-dividend date of this dividend was Friday, February 7th. This represents a $4.64 annualized dividend and a dividend yield of 0.51%. Costco Wholesale’s dividend payout ratio (DPR) is 27.09%.

Wall Street Analyst Weigh In

COST has been the topic of several recent analyst reports. DA Davidson increased their target price on shares of Costco Wholesale from $900.00 to $1,000.00 and gave the stock a “neutral” rating in a research note on Thursday, February 6th. Citigroup increased their target price on shares of Costco Wholesale from $800.00 to $1,060.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 18th. Stifel Nicolaus increased their target price on shares of Costco Wholesale from $1,000.00 to $1,075.00 and gave the stock a “buy” rating in a research note on Thursday, February 6th. Cowen reissued a “buy” rating on shares of Costco Wholesale in a research note on Friday, March 7th. Finally, Roth Mkm increased their target price on shares of Costco Wholesale from $755.00 to $907.00 and gave the stock a “neutral” rating in a research note on Friday, December 13th. Nine investment analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $1,030.43.

Insider Activity

In related news, CEO Roland Michael Vachris sold 3,600 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer now owns 41,077 shares of the company’s stock, valued at approximately $38,242,687. This trade represents a 8.06 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate 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.