Peirce Capital Management LLC Invests $332,000 in Costco Wholesale Co. (NASDAQ:COST)

Peirce Capital Management LLC acquired a new position in Costco Wholesale Co. (NASDAQ:COST) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 362 shares of the retailer’s stock, valued at approximately $332,000.

Several other large investors have also recently bought and sold shares of COST. Global Wealth Strategies & Associates raised its holdings in Costco Wholesale by 26.0% in the 4th quarter. Global Wealth Strategies & Associates now owns 291 shares of the retailer’s stock valued at $267,000 after acquiring an additional 60 shares in the last quarter. Independent Solutions Wealth Management LLC raised its stake in shares of Costco Wholesale by 2.5% in the third quarter. Independent Solutions Wealth Management LLC now owns 20,817 shares of the retailer’s stock valued at $18,454,000 after purchasing an additional 514 shares in the last quarter. IMS Capital Management lifted its position in Costco Wholesale by 0.6% in the third quarter. IMS Capital Management now owns 3,816 shares of the retailer’s stock worth $3,383,000 after purchasing an additional 22 shares during the period. Legacy Wealth Management LLC MS boosted its stake in Costco Wholesale by 2.7% during the third quarter. Legacy Wealth Management LLC MS now owns 4,033 shares of the retailer’s stock worth $3,575,000 after buying an additional 106 shares in the last quarter. Finally, DGS Capital Management LLC raised its stake in shares of Costco Wholesale by 12.8% in the 3rd quarter. DGS Capital Management LLC now owns 756 shares of the retailer’s stock valued at $671,000 after buying an additional 86 shares in the last quarter. 68.48% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on COST. UBS Group lifted 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 report on Thursday, December 12th. Telsey Advisory Group reiterated an “outperform” rating and issued a $1,050.00 price objective on shares of Costco Wholesale in a research note on Friday, December 13th. BMO Capital Markets raised their target price on Costco Wholesale from $1,075.00 to $1,175.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Loop Capital increased their price objective on Costco Wholesale from $1,005.00 to $1,095.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Finally, DA Davidson boosted their target price on shares of Costco Wholesale from $880.00 to $900.00 and gave the company a “neutral” rating in a research note on Friday, December 13th. Nine research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Costco Wholesale has an average rating of “Moderate Buy” and a consensus target price of $1,011.74.

Costco Wholesale Stock Down 0.9 %

Shares of Costco Wholesale stock traded down $8.28 on Thursday, hitting $907.99. The company had a trading volume of 1,309,886 shares, compared to its average volume of 1,942,804. The stock has a 50-day moving average of $942.54 and a 200-day moving average of $895.84. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.97 and a quick ratio of 0.44. Costco Wholesale Co. has a twelve month low of $640.51 and a twelve month high of $1,008.25. The firm has a market capitalization of $403.06 billion, a P/E ratio of 53.32, a P/E/G ratio of 6.02 and a beta of 0.82.

Costco Wholesale Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 1st were issued a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a yield of 0.51%. The ex-dividend date of this dividend was Friday, November 1st. Costco Wholesale’s dividend payout ratio (DPR) is presently 27.25%.

Insider Buying and Selling at Costco Wholesale

In related news, EVP Russell D. Miller sold 4,400 shares of the stock in a transaction on Friday, October 11th. The shares were sold at an average price of $891.15, for a total transaction of $3,921,060.00. Following the completion of the transaction, the executive vice president now owns 10,202 shares in the company, valued at approximately $9,091,512.30. This represents a 30.13 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Pierre Riel sold 2,000 shares of the business’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $896.71, for a total transaction of $1,793,420.00. Following the sale, the executive vice president now directly owns 10,210 shares in the company, valued at $9,155,409.10. This trade represents a 16.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 7,816 shares of company stock valued at $6,981,347 in the last 90 days. 0.18% of the stock is currently owned by company 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.