Greykasell Wealth Strategies Inc. Takes $2.15 Million Position in Costco Wholesale Co. (NASDAQ:COST)

Greykasell Wealth Strategies Inc. acquired a new stake in Costco Wholesale Co. (NASDAQ:COST) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 2,351 shares of the retailer’s stock, valued at approximately $2,154,000. Costco Wholesale accounts for approximately 1.2% of Greykasell Wealth Strategies Inc.’s investment portfolio, making the stock its 29th largest holding.

Several other large investors also recently modified their holdings of COST. Proficio Capital Partners LLC grew its stake in shares of Costco Wholesale by 74,796.3% in the 4th quarter. Proficio Capital Partners LLC now owns 1,521,893 shares of the retailer’s stock valued at $1,394,465,000 after purchasing an additional 1,519,861 shares during the period. Strategic Financial Concepts LLC grew its position in Costco Wholesale by 100,422.3% during the 4th quarter. Strategic Financial Concepts LLC now owns 796,137 shares of the retailer’s stock worth $729,476,000 after acquiring an additional 795,345 shares during the last quarter. Assenagon Asset Management S.A. grew its position in Costco Wholesale by 55.7% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,068,772 shares of the retailer’s stock worth $979,284,000 after acquiring an additional 382,367 shares during the last quarter. FMR LLC grew its position in Costco Wholesale by 3.6% during the 3rd quarter. FMR LLC now owns 9,308,615 shares of the retailer’s stock worth $8,252,274,000 after acquiring an additional 324,973 shares during the last quarter. Finally, Amundi grew its position in Costco Wholesale by 11.2% during the 4th quarter. Amundi now owns 2,299,535 shares of the retailer’s stock worth $2,132,519,000 after acquiring an additional 231,969 shares during the last quarter. 68.48% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently commented on COST. Raymond James increased their price target on Costco Wholesale from $990.00 to $1,030.00 and gave the stock an “overweight” rating in a research report on Thursday, December 12th. Evercore ISI upped their price objective on Costco Wholesale from $1,050.00 to $1,070.00 and gave the stock an “outperform” rating in a report on Tuesday. Telsey Advisory Group reaffirmed an “outperform” rating and set a $1,100.00 price objective on shares of Costco Wholesale in a report on Monday, March 3rd. Robert W. Baird upped their price objective on Costco Wholesale from $1,075.00 to $1,125.00 and gave the stock an “outperform” rating in a report on Friday, March 7th. Finally, Truist Financial upped their price objective on Costco Wholesale from $935.00 to $995.00 and gave the stock a “hold” rating in a 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. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $1,030.43.

Costco Wholesale Price Performance

COST stock opened at $903.92 on Friday. The stock has a 50-day moving average price of $989.80 and a two-hundred day moving average price of $944.22. The stock has a market cap of $401.25 billion, a PE ratio of 53.08, a price-to-earnings-growth ratio of 6.15 and a beta of 0.81. 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 1 year low of $697.27 and a 1 year high of $1,078.24.

Costco Wholesale (NASDAQ:COST) last released its 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 firm had revenue of $63.72 billion for 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%. Equities analysts forecast that Costco Wholesale Co. will post 18.03 EPS for the current fiscal 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 issued a $1.16 dividend. This represents a $4.64 annualized dividend and a dividend yield of 0.51%. The ex-dividend date of this dividend was Friday, February 7th. Costco Wholesale’s payout ratio is 27.09%.

Insider Activity

In other news, CEO Roland Michael Vachris sold 3,600 shares of the firm’s stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $931.00, for a total value of $3,351,600.00. Following the completion of the transaction, the chief executive officer now owns 41,077 shares in the company, 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 Securities & Exchange Commission, which is available at the SEC website. 0.18% of the stock is owned by corporate insiders.

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.