Broadway Wealth Solutions Inc. Takes $1.49 Million Position in Costco Wholesale Co. (NASDAQ:COST)

Broadway Wealth Solutions Inc. bought a new position in shares of Costco Wholesale Co. (NASDAQ:COST) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 1,629 shares of the retailer’s stock, valued at approximately $1,493,000. Costco Wholesale accounts for about 1.1% of Broadway Wealth Solutions Inc.’s portfolio, making the stock its 15th largest position.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. United Bank raised its position in shares of Costco Wholesale by 7.5% during the 3rd quarter. United Bank now owns 5,962 shares of the retailer’s stock valued at $5,285,000 after buying an additional 416 shares in the last quarter. Quantbot Technologies LP lifted its position in Costco Wholesale by 182.1% in the third quarter. Quantbot Technologies LP now owns 409 shares of the retailer’s stock valued at $363,000 after purchasing an additional 264 shares during the last quarter. Blueshift Asset Management LLC grew its holdings in Costco Wholesale by 102.4% in the 3rd quarter. Blueshift Asset Management LLC now owns 773 shares of the retailer’s stock worth $685,000 after acquiring an additional 391 shares during the last quarter. BNP Paribas grew its stake in shares of Costco Wholesale by 6.0% in the third quarter. BNP Paribas now owns 652 shares of the retailer’s stock worth $578,000 after purchasing an additional 37 shares during the last quarter. Finally, RPg Family Wealth Advisory LLC bought a new stake in shares of Costco Wholesale in the 3rd quarter worth approximately $29,000. Hedge funds and other institutional investors own 68.48% of the company’s stock.

Insider Buying and Selling

In other news, EVP Gary Millerchip sold 1,100 shares of the firm’s stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $940.01, for a total value of $1,034,011.00. Following the sale, the executive vice president now directly owns 11,165 shares in the company, valued at approximately $10,495,211.65. This trade represents a 8.97 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Roland Michael Vachris sold 3,600 shares of the firm’s stock in a transaction that occurred on 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 sale, the chief executive officer now owns 41,077 shares of the company’s stock, valued at approximately $38,242,687. This trade represents a 8.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,600 shares of company stock valued at $5,215,915 over the last three months. 0.18% of the stock is owned by company insiders.

Costco Wholesale Price Performance

Costco Wholesale stock opened at $938.75 on Friday. The stock has a market cap of $416.51 billion, a price-to-earnings ratio of 55.12, a price-to-earnings-growth ratio of 6.15 and a beta of 0.82. The firm has a 50-day moving average of $988.34 and a two-hundred day moving average of $945.95. Costco Wholesale Co. has a 1 year low of $697.27 and a 1 year high of $1,078.24. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.98 and a quick ratio of 0.43.

Costco Wholesale (NASDAQ:COST) last announced its quarterly earnings data on Thursday, March 6th. The retailer reported $4.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.09 by ($0.07). The firm 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%. On average, research analysts forecast that Costco Wholesale Co. will post 18.03 earnings per share for the current year.

Costco Wholesale Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 21st. Investors of record on Friday, February 7th were issued a $1.16 dividend. The ex-dividend date of this dividend was Friday, February 7th. This represents a $4.64 annualized dividend and a dividend yield of 0.49%. Costco Wholesale’s payout ratio is currently 27.09%.

Analyst Ratings Changes

Several brokerages recently issued reports on COST. Sanford C. Bernstein reiterated an “outperform” rating on shares of Costco Wholesale in a research report on Friday, March 7th. Loop Capital lowered their price target 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. JPMorgan Chase & Co. boosted their price objective on shares of Costco Wholesale from $1,065.00 to $1,070.00 and gave the stock an “overweight” rating in a report on Friday, March 7th. UBS Group upped their target price on shares of Costco Wholesale from $840.00 to $1,040.00 and gave the company a “buy” rating in a research note on Thursday, December 12th. Finally, Roth Mkm raised their price target on Costco Wholesale from $755.00 to $907.00 and gave the stock a “neutral” rating in a research note on Friday, December 13th. Nine analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $1,029.00.

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.