B. Riley Wealth Advisors Inc. Sells 2,609 Shares of Costco Wholesale Co. (NASDAQ:COST)

B. Riley Wealth Advisors Inc. reduced its stake in shares of Costco Wholesale Co. (NASDAQ:COSTFree Report) by 9.0% in the fourth quarter, HoldingsChannel.com reports. The fund owned 26,246 shares of the retailer’s stock after selling 2,609 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in Costco Wholesale were worth $17,716,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Norges Bank bought a new stake in Costco Wholesale in the fourth quarter worth $3,628,694,000. International Assets Investment Management LLC increased its position in shares of Costco Wholesale by 61,693.5% in the fourth quarter. International Assets Investment Management LLC now owns 3,105,124 shares of the retailer’s stock valued at $2,049,630,000 after acquiring an additional 3,100,099 shares during the period. Public Employees Retirement Association of Colorado increased its position in shares of Costco Wholesale by 3,647.1% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 567,641 shares of the retailer’s stock valued at $374,688,000 after acquiring an additional 552,492 shares during the period. Vanguard Group Inc. increased its position in shares of Costco Wholesale by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 40,360,168 shares of the retailer’s stock valued at $26,640,940,000 after acquiring an additional 485,051 shares during the period. Finally, Alphinity Investment Management Pty Ltd purchased a new position in shares of Costco Wholesale in the fourth quarter valued at about $297,915,000. 68.48% of the stock is owned by institutional investors.

Costco Wholesale Stock Up 1.4 %

Shares of Costco Wholesale stock traded up $12.24 on Monday, reaching $867.91. The company’s stock had a trading volume of 1,903,868 shares, compared to its average volume of 1,971,242. The company has a market capitalization of $384.77 billion, a price-to-earnings ratio of 53.86, a P/E/G ratio of 5.66 and a beta of 0.79. The firm’s fifty day simple moving average is $774.06 and its two-hundred day simple moving average is $723.29. Costco Wholesale Co. has a 52 week low of $516.54 and a 52 week high of $870.56. The company has a quick ratio of 0.45, a current ratio of 0.94 and a debt-to-equity ratio of 0.27.

Costco Wholesale (NASDAQ:COSTGet Free Report) last posted its earnings results on Thursday, May 30th. The retailer reported $3.78 EPS for the quarter, topping analysts’ consensus estimates of $3.70 by $0.08. The business had revenue of $58.52 billion during the quarter, compared to analyst estimates of $58.16 billion. Costco Wholesale had a return on equity of 30.02% and a net margin of 2.83%. The company’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same quarter last year, the company earned $3.43 EPS. Equities analysts anticipate that Costco Wholesale Co. will post 15.96 earnings per share for the current year.

Costco Wholesale Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 10th. Investors of record on Friday, April 26th were issued a $1.16 dividend. The ex-dividend date of this dividend was Thursday, April 25th. This represents a $4.64 annualized dividend and a dividend yield of 0.53%. This is a positive change from Costco Wholesale’s previous quarterly dividend of $1.02. Costco Wholesale’s payout ratio is presently 28.75%.

Insider Buying and Selling

In related news, EVP Russell D. Miller sold 785 shares of Costco Wholesale stock in a transaction on Wednesday, April 17th. The stock was sold at an average price of $722.86, for a total value of $567,445.10. Following the completion of the sale, the executive vice president now owns 10,000 shares of the company’s stock, valued at $7,228,600. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.18% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on COST. Argus boosted their price objective on shares of Costco Wholesale from $805.00 to $900.00 and gave the company a “buy” rating in a research report on Tuesday, May 28th. StockNews.com upgraded shares of Costco Wholesale from a “hold” rating to a “buy” rating in a research report on Sunday, June 2nd. Truist Financial boosted their price objective on shares of Costco Wholesale from $815.00 to $873.00 and gave the company a “buy” rating in a research report on Friday, May 31st. Stifel Nicolaus boosted their price objective on shares of Costco Wholesale from $800.00 to $850.00 and gave the company a “buy” rating in a research report on Friday, May 31st. Finally, Barclays increased their price target on shares of Costco Wholesale from $700.00 to $765.00 and gave the stock an “equal weight” rating in a research note on Friday, May 31st. Seven analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $751.85.

Read Our Latest Report on COST

About Costco Wholesale

(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.

Further Reading

Want to see what other hedge funds are holding COST? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Costco Wholesale Co. (NASDAQ:COSTFree Report).

Institutional Ownership by Quarter for Costco Wholesale (NASDAQ:COST)

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