JPL Wealth Management LLC Makes New Investment in Costco Wholesale Co. (NASDAQ:COST) (2024)

JPL Wealth Management LLC acquired a new position in shares of Costco Wholesale Co. (NASDAQ:COST – Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 3,984 shares of the retailer’s stock, valued at approximately $2,630,000. Costco Wholesale makes up 1.9% of JPL Wealth Management LLC’s holdings, making the stock its 9th biggest holding.

Several other hedge funds have also added to or reduced their stakes in COST. WealthPlan Investment Management LLC boosted its position in shares of Costco Wholesale by 194.0% during the 3rd quarter. WealthPlan Investment Management LLC now owns 13,404 shares of the retailer’s stock worth $7,573,000 after acquiring an additional 8,845 shares in the last quarter. Advisor OS LLC boosted its stake in shares of Costco Wholesale by 20.7% in the 3rd quarter. Advisor OS LLC now owns 1,387 shares of the retailer’s stock valued at $784,000 after purchasing an additional 238 shares during the last quarter. Private Advisor Group LLC raised its position in shares of Costco Wholesale by 5.6% in the 3rd quarter. Private Advisor Group LLC now owns 53,586 shares of the retailer’s stock worth $30,274,000 after acquiring an additional 2,837 shares in the last quarter. Main Street Financial Solutions LLC lifted its stake in Costco Wholesale by 5.2% in the third quarter. Main Street Financial Solutions LLC now owns 1,684 shares of the retailer’s stock valued at $951,000 after buying an additional 83 shares during the period. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its stake in Costco Wholesale by 0.6% during the third quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 255,606 shares of the retailer’s stock worth $142,109,000 after acquiring an additional 1,621 shares in the last quarter. Institutional investors own 68.48% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Gordon Haskett cut Costco Wholesale from a “buy” rating to an “accumulate” rating and set a $775.00 price objective on the stock. in a research note on Wednesday, April 3rd. Loop Capital reduced their price objective on shares of Costco Wholesale from $830.00 to $820.00 and set a “buy” rating for the company in a research note on Thursday, April 11th. Roth Mkm boosted their price objective on shares of Costco Wholesale from $601.00 to $650.00 and gave the company a “neutral” rating in a research note on Thursday, April 11th. StockNews.com raised shares of Costco Wholesale from a “hold” rating to a “buy” rating in a research note on Friday. Finally, Citigroup increased their target price on shares of Costco Wholesale from $630.00 to $710.00 and gave the company a “neutral” rating in a report on Tuesday, April 23rd. Six equities research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $695.08.

Get Our Latest Analysis on Costco Wholesale

Insider Activity

In other Costco Wholesale news, EVP Russell D. Miller sold 785 shares of the business’s stock in a transaction dated Wednesday, April 17th. The shares were sold at an average price of $722.86, for a total value of $567,445.10. Following the transaction, the executive vice president now owns 10,000 shares in the company, valued at $7,228,600. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Costco Wholesale news, EVP Russell D. Miller sold 785 shares of the company’s stock in a transaction dated Wednesday, April 17th. The shares were sold at an average price of $722.86, for a total transaction of $567,445.10. Following the transaction, the executive vice president now owns 10,000 shares in the company, valued at approximately $7,228,600. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Claudine Adamo sold 1,500 shares of the firm’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $714.83, for a total value of $1,072,245.00. Following the completion of the transaction, the executive vice president now directly owns 6,695 shares in the company, valued at $4,785,786.85. The disclosure for this sale can be found here. Company insiders own 0.18% of the company’s stock.

Costco Wholesale Trading Up 1.0 %

NASDAQ COST traded up $7.93 during trading hours on Tuesday, reaching $800.93. The company’s stock had a trading volume of 1,374,919 shares, compared to its average volume of 1,985,527. Costco Wholesale Co. has a 52 week low of $476.75 and a 52 week high of $804.56. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.93 and a quick ratio of 0.43. The stock has a market cap of $355.21 billion, a P/E ratio of 52.07, a P/E/G ratio of 5.30 and a beta of 0.77. The firm has a fifty day simple moving average of $737.07 and a 200-day simple moving average of $690.66.

Costco Wholesale (NASDAQ:COST – Get Free Report) last released its quarterly earnings data on Thursday, March 7th. The retailer reported $3.71 earnings per share for the quarter, topping the consensus estimate of $3.62 by $0.09. Costco Wholesale had a net margin of 2.73% and a return on equity of 28.80%. The firm had revenue of $58.44 billion for the quarter, compared to the consensus estimate of $59.11 billion. During the same quarter in the prior year, the company posted $3.30 earnings per share. The business’s revenue was up 5.7% on a year-over-year basis. Equities analysts forecast that Costco Wholesale Co. will post 15.84 earnings per share for the current fiscal year.

Costco Wholesale Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 10th. Stockholders of record on Friday, April 26th were issued a $1.16 dividend. This is a positive change from Costco Wholesale’s previous quarterly dividend of $1.02. This represents a $4.64 dividend on an annualized basis and a dividend yield of 0.58%. The ex-dividend date was Thursday, April 25th. Costco Wholesale’s dividend payout ratio (DPR) is presently 30.35%.

Costco Wholesale Profile

(Free Report)

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.