Prestige Wealth Management Group LLC Has $2.47 Million Stock Holdings in Costco Wholesale Co. (NASDAQ:COST)

Prestige Wealth Management Group LLC raised its position in shares of Costco Wholesale Co. (NASDAQ:COST) by 2.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 and hedge funds have also recently added to or reduced their stakes in the company. Signature Estate & Investment Advisors LLC boosted 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 in the last quarter. Syverson Strege & Co boosted its position in 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 buying an additional 41 shares in the last quarter. Heritage Wealth Management Inc. CA acquired a new stake in Costco Wholesale in the fourth quarter valued at approximately $279,000. Zions Bancorporation N.A. grew its stake in shares of Costco Wholesale by 8.6% during the fourth quarter. Zions Bancorporation N.A. now owns 1,348 shares of the retailer’s stock worth $1,235,000 after buying an additional 107 shares during the last quarter. Finally, FineMark National Bank & Trust increased its holdings in shares of Costco Wholesale by 1.9% during the fourth quarter. FineMark National Bank & Trust now owns 6,312 shares of the retailer’s stock worth $5,783,000 after buying an additional 119 shares in the last quarter. 68.48% of the stock is currently owned by institutional investors.

Costco Wholesale Stock Performance

NASDAQ COST opened at $926.04 on Tuesday. The company has a market cap of $410.87 billion, a P/E ratio of 54.38, a PEG ratio of 6.15 and a beta of 0.82. The company has a fifty day simple moving average of $987.58 and a 200 day simple moving average of $945.73. The company has a current ratio of 0.98, a quick ratio of 0.43 and a debt-to-equity ratio of 0.23. Costco Wholesale Co. has a 12-month low of $697.27 and a 12-month high of $1,078.24.

Costco Wholesale (NASDAQ:COST) last issued its quarterly earnings data 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). 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 analyst estimates of $63.02 billion. Sell-side analysts predict that Costco Wholesale Co. will post 18.03 earnings per share for the current fiscal year.

Costco Wholesale Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, February 21st. Stockholders of record on Friday, February 7th were issued a $1.16 dividend. The ex-dividend date 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 presently 27.09%.

Analyst Ratings Changes

Several equities analysts have commented on COST shares. TD Cowen increased their target price on Costco Wholesale from $975.00 to $1,090.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Stifel Nicolaus dropped their price objective on shares of Costco Wholesale from $1,075.00 to $1,035.00 and set a “buy” rating for the company in a report on Thursday, March 20th. UBS Group boosted their target price on shares of Costco Wholesale from $840.00 to $1,040.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Costco Wholesale in a research note on Friday, March 7th. Finally, Evercore ISI boosted their price objective on shares of Costco Wholesale from $1,050.00 to $1,070.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 11th. Nine investment analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company’s stock. According to MarketBeat.com, Costco Wholesale presently has an average rating of “Moderate Buy” and a consensus price target of $1,029.00.

Insider Activity

In other news, CEO Roland Michael Vachris sold 3,600 shares of the stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $931.00, for a total value 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 $38,242,687. This represents a 8.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at 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.