Momentous Wealth Management Inc. Invests $642,000 in Costco Wholesale Co. (NASDAQ:COST)

Momentous Wealth Management Inc. acquired a new position in shares of Costco Wholesale Co. (NASDAQ:COST) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 701 shares of the retailer’s stock, valued at approximately $642,000. Costco Wholesale accounts for approximately 0.5% of Momentous Wealth Management Inc.’s investment portfolio, making the stock its 16th largest position.

A number of other large investors also recently added to or reduced their stakes in the company. RPg Family Wealth Advisory LLC acquired a new position in Costco Wholesale during the 3rd quarter worth $29,000. Synergy Investment Management LLC acquired a new stake in Costco Wholesale in the fourth quarter valued at approximately $31,000. NewSquare Capital LLC grew its holdings in Costco Wholesale by 250.0% during the 4th quarter. NewSquare Capital LLC now owns 35 shares of the retailer’s stock worth $32,000 after acquiring an additional 25 shares in the last quarter. Endeavor Private Wealth Inc. purchased a new stake in shares of Costco Wholesale in the 4th quarter valued at approximately $33,000. Finally, Collier Financial acquired a new stake in shares of Costco Wholesale in the 4th quarter valued at $35,000. 68.48% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Costco Wholesale

In other Costco Wholesale news, CEO Roland Michael Vachris sold 3,600 shares of the company’s stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $931.00, for a total transaction of $3,351,600.00. Following the completion of the sale, the chief executive officer now owns 41,077 shares of the company’s stock, valued at $38,242,687. This represents a 8.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.18% of the stock is owned by insiders.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Oppenheimer restated an “outperform” rating and issued a $1,075.00 price target (up from $980.00) on shares of Costco Wholesale in a research note on Tuesday, December 10th. TD Cowen raised their price objective on shares of Costco Wholesale from $975.00 to $1,090.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Loop Capital cut their price target on shares of Costco Wholesale from $1,150.00 to $1,135.00 and set a “buy” rating on the stock in a research note on Friday, March 7th. Barclays upped their price objective on shares of Costco Wholesale from $940.00 to $980.00 and gave the company an “equal weight” rating in a research note on Monday, March 10th. Finally, Wells Fargo & Company lifted their target price on Costco Wholesale from $950.00 to $1,000.00 and gave the stock an “equal weight” rating in a research report on Friday, December 13th. Nine analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $1,029.00.

Costco Wholesale Trading Up 1.8 %

NASDAQ:COST opened at $926.04 on Tuesday. Costco Wholesale Co. has a 1 year low of $697.27 and a 1 year high of $1,078.24. The stock has a market cap of $410.87 billion, a price-to-earnings ratio of 54.38, a PEG ratio of 6.15 and a beta of 0.82. The business has a fifty day moving average of $987.58 and a 200-day moving average of $945.73. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.43 and a current ratio of 0.98.

Costco Wholesale (NASDAQ:COST) last posted its quarterly earnings data on Thursday, March 6th. The retailer reported $4.02 earnings per share for the quarter, missing the consensus estimate of $4.09 by ($0.07). Costco Wholesale had a net margin of 2.93% and a return on equity of 32.31%. The business had revenue of $63.72 billion for the quarter, compared to the consensus estimate of $63.02 billion. Equities analysts predict that Costco Wholesale Co. will post 18.03 earnings per share for the current year.

Costco Wholesale Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 21st. Shareholders of record on Friday, February 7th were given a dividend of $1.16 per share. This represents a $4.64 annualized dividend and a yield of 0.50%. The ex-dividend date of this dividend was Friday, February 7th. Costco Wholesale’s payout ratio is 27.09%.

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.