Potentia Wealth Takes Position in Costco Wholesale Co. (NASDAQ:COST)

Potentia Wealth purchased a new position in shares of Costco Wholesale Co. (NASDAQ:COST) in the fourth quarter, HoldingsChannel.com reports. The firm purchased 308 shares of the retailer’s stock, valued at approximately $282,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. PKS Advisory Services LLC acquired a new stake in shares of Costco Wholesale during the fourth quarter worth about $952,000. Prestige Wealth Management Group LLC lifted its position in Costco Wholesale by 2.8% during the 4th quarter. Prestige Wealth Management Group LLC now owns 2,697 shares of the retailer’s stock worth $2,471,000 after acquiring an additional 74 shares during the period. Signature Estate & Investment Advisors LLC grew its stake in shares of Costco Wholesale by 1.9% in the 4th quarter. Signature Estate & Investment Advisors LLC now owns 2,193 shares of the retailer’s stock valued at $2,010,000 after purchasing an additional 40 shares during the last quarter. Syverson Strege & Co increased its holdings in shares of Costco Wholesale by 14.5% in the fourth quarter. Syverson Strege & Co now owns 324 shares of the retailer’s stock valued at $297,000 after purchasing an additional 41 shares during the period. Finally, Heritage Wealth Management Inc. CA purchased a new stake in shares of Costco Wholesale during the fourth quarter worth approximately $279,000. 68.48% of the stock is owned by hedge funds and other institutional investors.

Costco Wholesale Trading Up 1.8 %

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

Costco Wholesale (NASDAQ:COST) last released 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). The business had revenue of $63.72 billion for 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%. Analysts anticipate that Costco Wholesale Co. will post 18.03 earnings per share for the current year.

Costco Wholesale Announces Dividend

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

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. TD Cowen boosted their price objective on shares of Costco Wholesale from $975.00 to $1,090.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Oppenheimer reissued an “outperform” rating and set a $1,075.00 price target (up from $980.00) on shares of Costco Wholesale in a report on Tuesday, December 10th. Jefferies Financial Group raised their price target 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 lifted their price target on Costco Wholesale from $950.00 to $1,150.00 and gave the company an “overweight” rating in a research note on Friday, December 13th. Finally, Loop Capital cut their price objective 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 investment analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $1,029.00.

Insider Buying and Selling

In other news, CEO Roland Michael Vachris sold 3,600 shares of the business’s stock in a transaction dated Tuesday, March 11th. The stock was 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 in the company, valued at approximately $38,242,687. The trade was a 8.06 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.18% of the company’s stock.

About Costco Wholesale

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.