Castle Rock Wealth Management LLC Purchases New Holdings in Costco Wholesale Co. (COST)

Castle Rock Wealth Management LLC purchased a new stake in Costco Wholesale Co. (NASDAQ:COST) during the fourth quarter, according to its most recent filing with the SEC. The firm purchased 1,365 shares of the retailer’s stock, valued at approximately $289,000.

Several other large investors also recently made changes to their positions in the company. Gryphon Financial Partners LLC grew its position in shares of Costco Wholesale by 795.1% during the 3rd quarter. Gryphon Financial Partners LLC now owns 2,014 shares of the retailer’s stock worth $473,000 after buying an additional 1,789 shares during the period. Sentry Investment Management LLC grew its position in shares of Costco Wholesale by 11.7% during the 3rd quarter. Sentry Investment Management LLC now owns 25,927 shares of the retailer’s stock worth $6,090,000 after buying an additional 2,726 shares during the period. Commonwealth Equity Services LLC grew its position in shares of Costco Wholesale by 1.9% during the 3rd quarter. Commonwealth Equity Services LLC now owns 188,266 shares of the retailer’s stock worth $44,219,000 after buying an additional 3,440 shares during the period. Stone Ridge Asset Management LLC grew its position in shares of Costco Wholesale by 10.3% during the 3rd quarter. Stone Ridge Asset Management LLC now owns 36,651 shares of the retailer’s stock worth $8,609,000 after buying an additional 3,415 shares during the period. Finally, Motley Fool Asset Management LLC grew its position in shares of Costco Wholesale by 1.7% during the 3rd quarter. Motley Fool Asset Management LLC now owns 45,379 shares of the retailer’s stock worth $10,659,000 after buying an additional 737 shares during the period. Institutional investors and hedge funds own 71.20% of the company’s stock.

Shares of NASDAQ COST opened at $233.84 on Friday. The company has a market cap of $102.62 billion, a P/E ratio of 34.24, a PEG ratio of 3.12 and a beta of 0.94. The company has a quick ratio of 0.46, a current ratio of 0.96 and a debt-to-equity ratio of 0.34. Costco Wholesale Co. has a 52-week low of $180.83 and a 52-week high of $245.16.

Costco Wholesale (NASDAQ:COST) last issued its quarterly earnings data on Thursday, March 7th. The retailer reported $2.01 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.67 by $0.34. The firm had revenue of $35.40 billion during the quarter. Costco Wholesale had a net margin of 2.34% and a return on equity of 25.53%. During the same quarter in the prior year, the firm posted $1.59 EPS. As a group, equities research analysts predict that Costco Wholesale Co. will post 7.86 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 22nd. Investors of record on Friday, February 8th were issued a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 0.98%. The ex-dividend date of this dividend was Thursday, February 7th. Costco Wholesale’s dividend payout ratio is currently 33.38%.

In related news, VP Richard A. Galanti sold 4,188 shares of the business’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $230.47, for a total transaction of $965,208.36. Following the completion of the transaction, the vice president now owns 30,082 shares in the company, valued at $6,932,998.54. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Susan L. Decker sold 1,611 shares of the business’s stock in a transaction that occurred on Friday, January 4th. The shares were sold at an average price of $206.15, for a total transaction of $332,107.65. Following the transaction, the director now owns 51,389 shares of the company’s stock, valued at approximately $10,593,842.35. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 8,587 shares of company stock valued at $1,924,179. Corporate insiders own 0.21% of the company’s stock.

Several brokerages have recently commented on COST. BMO Capital Markets set a $258.00 price target on shares of Costco Wholesale and gave the stock a “buy” rating in a research report on Friday, December 14th. BidaskClub cut shares of Costco Wholesale from a “strong-buy” rating to a “buy” rating in a research report on Friday, January 25th. Barclays reiterated a “hold” rating and set a $225.00 price target on shares of Costco Wholesale in a research report on Wednesday, January 9th. Argus reiterated a “buy” rating and set a $245.00 price target (down previously from $255.00) on shares of Costco Wholesale in a research report on Monday, December 24th. They noted that the move was a valuation call. Finally, Oppenheimer lowered their price target on shares of Costco Wholesale from $262.00 to $240.00 in a research report on Friday, December 14th. Six investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $242.56.

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About Costco Wholesale

Costco Wholesale Corporation, together with its subsidiaries, operates membership warehouses. It offers branded and private-label products in a range of merchandise categories. The company provides dry and packaged foods, and groceries; snack foods, candies, alcoholic and nonalcoholic beverages, and cleaning supplies; appliances, electronics, health and beauty aids, hardware, and garden and patio products; meat, bakery, deli, and produces; and apparel and small appliances.

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

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