Hoey Investments Inc. Purchases 310 Shares of Costco Wholesale Co. (NASDAQ:COST)

Hoey Investments Inc. raised its position in Costco Wholesale Co. (NASDAQ:COST) by 70.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 753 shares of the retailer’s stock after purchasing an additional 310 shares during the period. Hoey Investments Inc.’s holdings in Costco Wholesale were worth $690,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in COST. Synergy Investment Management LLC bought a new stake in Costco Wholesale during the fourth quarter valued at $31,000. NewSquare Capital LLC raised its holdings in shares of Costco Wholesale by 250.0% in the 4th quarter. NewSquare Capital LLC now owns 35 shares of the retailer’s stock valued at $32,000 after acquiring an additional 25 shares in the last quarter. Endeavor Private Wealth Inc. bought a new stake in shares of Costco Wholesale during the 4th quarter valued at about $33,000. Collier Financial bought a new position in shares of Costco Wholesale in the fourth quarter worth approximately $35,000. Finally, Barrett & Company Inc. raised its stake in Costco Wholesale by 59.3% in the fourth quarter. Barrett & Company Inc. now owns 43 shares of the retailer’s stock valued at $39,000 after purchasing an additional 16 shares in the last quarter. 68.48% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

COST has been the subject of a number of research reports. BMO Capital Markets boosted their price target on shares of Costco Wholesale from $1,075.00 to $1,175.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. Cowen reissued a “buy” rating on shares of Costco Wholesale in a research note on Friday, March 7th. Truist Financial lifted their price target on Costco Wholesale from $935.00 to $995.00 and gave the stock a “hold” rating in a research note on Friday, March 7th. Robert W. Baird increased their price objective on Costco Wholesale from $1,075.00 to $1,125.00 and gave the company an “outperform” rating in a research report on Friday, March 7th. Finally, Loop Capital dropped their target price on Costco Wholesale from $1,150.00 to $1,135.00 and set a “buy” rating for the company in a research report on Friday, March 7th. Nine equities research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the stock. According to MarketBeat.com, Costco Wholesale has an average rating of “Moderate Buy” and an average price target of $1,029.00.

Insider Activity at Costco Wholesale

In related news, CEO Roland Michael Vachris sold 3,600 shares of Costco Wholesale stock in a transaction dated 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 directly owns 41,077 shares of the company’s stock, valued at $38,242,687. This trade represents a 8.06 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Claudine Adamo sold 900 shares of the company’s stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $922.56, for a total transaction of $830,304.00. Following the completion of the sale, the executive vice president now owns 6,987 shares in the company, valued at approximately $6,445,926.72. This trade represents a 11.41 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,600 shares of company stock worth $5,215,915 over the last ninety days. 0.18% of the stock is owned by corporate insiders.

Costco Wholesale Stock Down 1.0 %

Shares of Costco Wholesale stock opened at $929.66 on Monday. The company’s fifty day simple moving average is $988.07 and its two-hundred day simple moving average is $946.86. Costco Wholesale Co. has a 12-month low of $697.27 and a 12-month high of $1,078.24. The company has a current ratio of 0.98, a quick ratio of 0.43 and a debt-to-equity ratio of 0.23. The company has a market cap of $412.47 billion, a P/E ratio of 54.59, a PEG ratio of 6.15 and a beta of 0.82.

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

Costco Wholesale Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 21st. Stockholders of record on Friday, February 7th were paid a $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a dividend yield of 0.50%. The ex-dividend date was Friday, February 7th. Costco Wholesale’s payout ratio is presently 27.09%.

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.