Processus Wealth & Capital Management LLC Takes Position in Costco Wholesale Co. (NASDAQ:COST)

Processus Wealth & Capital Management LLC acquired a new stake in Costco Wholesale Co. (NASDAQ:COSTFree Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 4,919 shares of the retailer’s stock, valued at approximately $3,247,000. Costco Wholesale comprises about 3.2% of Processus Wealth & Capital Management LLC’s investment portfolio, making the stock its 9th biggest holding.

Several other hedge funds have also recently bought and sold shares of COST. Norges Bank bought a new stake in Costco Wholesale during the fourth quarter worth approximately $3,628,694,000. International Assets Investment Management LLC boosted its holdings in Costco Wholesale by 61,693.5% during the fourth quarter. International Assets Investment Management LLC now owns 3,105,124 shares of the retailer’s stock worth $2,049,630,000 after buying an additional 3,100,099 shares in the last quarter. Public Employees Retirement Association of Colorado boosted its holdings in Costco Wholesale by 3,647.1% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 567,641 shares of the retailer’s stock worth $374,688,000 after buying an additional 552,492 shares in the last quarter. Alphinity Investment Management Pty Ltd acquired a new position in Costco Wholesale in the 4th quarter worth approximately $297,915,000. Finally, Bank of Nova Scotia boosted its stake in Costco Wholesale by 175.5% in the 4th quarter. Bank of Nova Scotia now owns 553,972 shares of the retailer’s stock worth $365,628,000 after purchasing an additional 352,915 shares during the period. 68.48% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on COST. Loop Capital increased their target price on shares of Costco Wholesale from $890.00 to $940.00 and gave the stock a “buy” rating in a research report on Friday. TD Cowen raised their price target on shares of Costco Wholesale from $777.00 to $850.00 and gave the company a “buy” rating in a report on Friday, May 31st. Barclays raised their price target on shares of Costco Wholesale from $700.00 to $765.00 and gave the company an “equal weight” rating in a report on Friday, May 31st. Tigress Financial raised their price target on shares of Costco Wholesale from $745.00 to $870.00 and gave the company a “buy” rating in a report on Friday, March 15th. Finally, Telsey Advisory Group raised their price target on shares of Costco Wholesale from $850.00 to $900.00 and gave the company an “outperform” rating in a report on Thursday, June 6th. Seven research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $751.85.

Get Our Latest Report on COST

Costco Wholesale Stock Up 1.1 %

Shares of Costco Wholesale stock traded up $9.71 on Friday, hitting $855.67. The company had a trading volume of 1,395,485 shares, compared to its average volume of 1,735,517. The firm has a market capitalization of $379.34 billion, a P/E ratio of 53.02, a P/E/G ratio of 5.66 and a beta of 0.79. Costco Wholesale Co. has a twelve month low of $516.54 and a twelve month high of $856.18. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.94 and a quick ratio of 0.45. The stock has a 50-day moving average of $774.06 and a 200-day moving average of $723.29.

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

Costco Wholesale Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 10th. Stockholders of record on Friday, April 26th were given a $1.16 dividend. The ex-dividend date was Thursday, April 25th. This is a positive change from Costco Wholesale’s previous quarterly dividend of $1.02. This represents a $4.64 annualized dividend and a dividend yield of 0.54%. Costco Wholesale’s dividend payout ratio is presently 28.75%.

Insider Activity

In other news, EVP Russell D. Miller sold 785 shares of the stock in a transaction dated Wednesday, April 17th. The shares were sold at an average price of $722.86, for a total value of $567,445.10. Following the transaction, the executive vice president now directly owns 10,000 shares of the company’s stock, valued at $7,228,600. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.18% of the company’s stock.

Costco Wholesale Profile

(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.

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

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