Signet Financial Management LLC Has $3.85 Million Holdings in Costco Wholesale Co. (NASDAQ:COST)

Signet Financial Management LLC boosted its stake in Costco Wholesale Co. (NASDAQ:COST) by 719.8% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,255 shares of the retailer’s stock after purchasing an additional 4,614 shares during the quarter. Signet Financial Management LLC’s holdings in Costco Wholesale were worth $3,850,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Richelieu Gestion SA acquired a new position in Costco Wholesale during the fourth quarter worth about $25,000. Frank Rimerman Advisors LLC acquired a new position in Costco Wholesale during the fourth quarter worth about $26,000. Morton Brown Family Wealth LLC increased its stake in shares of Costco Wholesale by 200.0% in the fourth quarter. Morton Brown Family Wealth LLC now owns 45 shares of the retailer’s stock valued at $30,000 after buying an additional 30 shares during the period. Wetzel Investment Advisors Inc. acquired a new position in shares of Costco Wholesale in the fourth quarter valued at approximately $30,000. Finally, Vima LLC acquired a new position in shares of Costco Wholesale in the fourth quarter valued at approximately $34,000. Institutional investors and hedge funds own 68.48% of the company’s stock.

Costco Wholesale Stock Performance

Shares of COST stock traded down $5.47 on Thursday, hitting $851.37. 426,807 shares of the stock were exchanged, compared to its average volume of 1,964,012. The company has a current ratio of 0.94, a quick ratio of 0.45 and a debt-to-equity ratio of 0.27. The firm has a market capitalization of $377.44 billion, a PE ratio of 52.70, a P/E/G ratio of 5.66 and a beta of 0.79. Costco Wholesale Co. has a one year low of $524.63 and a one year high of $873.96. The firm’s 50 day moving average is $796.35 and its two-hundred day moving average is $736.82.

Costco Wholesale (NASDAQ:COST) last issued its earnings results on Thursday, May 30th. The retailer reported $3.78 EPS for the quarter, topping the consensus estimate of $3.70 by $0.08. Costco Wholesale had a return on equity of 30.02% and a net margin of 2.83%. The business had revenue of $58.52 billion during the quarter, compared to the consensus estimate of $58.16 billion. During the same quarter last year, the company earned $3.43 EPS. The firm’s revenue was up 9.1% compared to the same quarter last year. Sell-side analysts expect that Costco Wholesale Co. will post 15.98 earnings per share for the current fiscal year.

Costco Wholesale Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 10th. Stockholders of record on Friday, April 26th were given a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date of this dividend was Thursday, April 25th. This is an increase from Costco Wholesale’s previous quarterly dividend of $1.02. Costco Wholesale’s dividend payout ratio (DPR) is 28.75%.

Wall Street Analyst Weigh In

COST has been the subject of several recent research reports. Loop Capital upped their price objective on Costco Wholesale from $890.00 to $940.00 and gave the company a “buy” rating in a research note on Friday, June 14th. TD Cowen increased their price target on Costco Wholesale from $777.00 to $850.00 and gave the stock a “buy” rating in a report on Friday, May 31st. Stifel Nicolaus upped their target price on Costco Wholesale from $800.00 to $850.00 and gave the stock a “buy” rating in a research report on Friday, May 31st. BMO Capital Markets reaffirmed an “outperform” rating and set a $875.00 target price (up from $800.00) on shares of Costco Wholesale in a research report on Friday, May 31st. Finally, Wells Fargo & Company upped their target price on Costco Wholesale from $750.00 to $775.00 and gave the stock an “equal weight” rating in a research report on Friday, May 31st. Seven investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. Based on data from MarketBeat, Costco Wholesale has a consensus rating of “Moderate Buy” and an average price target of $756.85.

Insider Activity

In related news, EVP Russell D. Miller sold 785 shares of the firm’s stock in a transaction dated Wednesday, April 17th. The stock was sold at an average price of $722.86, for a total transaction of $567,445.10. Following the transaction, the executive vice president now directly owns 10,000 shares of the company’s stock, valued at approximately $7,228,600. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.18% of the company’s stock.

About Costco Wholesale

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.