Shorepoint Capital Partners LLC Makes New $6.87 Million Investment in Costco Wholesale Corporation $COST

Shorepoint Capital Partners LLC purchased a new position in shares of Costco Wholesale Corporation (NASDAQ:COST) in the third quarter, Holdings Channel.com reports. The institutional investor purchased 7,421 shares of the retailer’s stock, valued at approximately $6,869,000. Costco Wholesale makes up approximately 1.4% of Shorepoint Capital Partners LLC’s holdings, making the stock its 22nd biggest position.

Several other hedge funds and other institutional investors have also modified their holdings of COST. Bulwark Capital Corp acquired a new position in shares of Costco Wholesale during the second quarter valued at $25,000. Soundwatch Capital LLC raised its holdings in Costco Wholesale by 635.7% during the second quarter. Soundwatch Capital LLC now owns 2,553 shares of the retailer’s stock worth $25,000 after purchasing an additional 2,206 shares in the last quarter. LFA Lugano Financial Advisors SA acquired a new stake in shares of Costco Wholesale in the second quarter valued at $31,000. Anderson Financial Strategies LLC boosted its position in shares of Costco Wholesale by 900.0% during the 1st quarter. Anderson Financial Strategies LLC now owns 40 shares of the retailer’s stock valued at $38,000 after purchasing an additional 36 shares in the last quarter. Finally, Financial Connections Group Inc. grew its position in Costco Wholesale by 975.0% in the second quarter. Financial Connections Group Inc. now owns 43 shares of the retailer’s stock worth $42,000 after buying an additional 39 shares during the last quarter. 68.48% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently issued reports on COST. HSBC cut their price target on shares of Costco Wholesale from $1,060.00 to $1,045.00 and set a “hold” rating on the stock in a report on Friday. DA Davidson reissued a “neutral” rating and issued a $1,000.00 target price on shares of Costco Wholesale in a research report on Thursday, December 4th. Raymond James Financial reduced their target price on Costco Wholesale from $1,070.00 to $1,000.00 and set an “outperform” rating for the company in a report on Friday. Hovde Group started coverage on Costco Wholesale in a research note on Tuesday, November 18th. They issued a “market perform” rating and a $16.00 price objective on the stock. Finally, Evercore ISI cut their target price on shares of Costco Wholesale from $1,060.00 to $1,025.00 and set an “outperform” rating for the company in a research note on Friday, September 26th. Eighteen analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $992.70.

Costco Wholesale Price Performance

Costco Wholesale stock opened at $860.56 on Tuesday. Costco Wholesale Corporation has a 12-month low of $851.40 and a 12-month high of $1,078.23. The business’s 50-day simple moving average is $915.22 and its 200 day simple moving average is $949.15. The company has a quick ratio of 0.53, a current ratio of 1.04 and a debt-to-equity ratio of 0.19. The stock has a market cap of $382.05 billion, a price-to-earnings ratio of 46.09, a P/E/G ratio of 5.99 and a beta of 1.00.

Costco Wholesale (NASDAQ:COST) last issued its earnings results on Thursday, December 11th. The retailer reported $4.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.27 by $0.07. Costco Wholesale had a return on equity of 29.35% and a net margin of 2.96%.The firm had revenue of $67.31 billion for the quarter, compared to analysts’ expectations of $67.03 billion. During the same quarter last year, the business earned $4.04 earnings per share. The company’s revenue was up 8.3% compared to the same quarter last year. As a group, research analysts anticipate that Costco Wholesale Corporation will post 18.03 earnings per share for the current year.

Costco Wholesale Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 14th. Investors of record on Friday, October 31st were given a $1.30 dividend. The ex-dividend date of this dividend was Friday, October 31st. This represents a $5.20 dividend on an annualized basis and a yield of 0.6%. Costco Wholesale’s dividend payout ratio (DPR) is 27.85%.

Insider Buying and Selling

In related news, EVP William Richard Wilcox sold 2,400 shares of the stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $930.13, for a total transaction of $2,232,312.00. Following the completion of the transaction, the executive vice president directly owned 2,000 shares of the company’s stock, valued at approximately $1,860,260. This represents a 54.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Claudine Adamo sold 2,700 shares of the firm’s stock in a transaction dated Friday, October 24th. The shares were sold at an average price of $935.68, for a total transaction of $2,526,336.00. Following the completion of the sale, the executive vice president owned 6,851 shares of the company’s stock, valued at $6,410,343.68. This trade represents a 28.27% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 9,720 shares of company stock worth $9,010,257 over the last 90 days. 0.10% of the stock is currently owned by insiders.

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.