Momentous Wealth Management Inc. Acquires 701 Shares in Costco Wholesale Co.

Momentous Wealth Management Inc. has recently established a new investment position in Costco Wholesale Co. (NASDAQ:COST) during the 4th quarter, as outlined in their most recent filing with the Securities and Exchange Commission (SEC). This institutional investor purchased 701 shares of Costco's stock, which is estimated to be worth around $642,000. These shares now make up 0.5% of Momentous Wealth Management Inc.'s total holdings, positioning Costco as their 16th largest investment.

A variety of other institutional investors have also adjusted their stakes in Costco Wholesale. For instance, Aire Advisors LLC increased its shares in the retailer by 41.5% during the same quarter, resulting in a total of 4,719 shares valued at approximately $4,324,000 due to the purchase of an additional 1,384 shares. Potentia Wealth acquired a new stake in Costco valued around $282,000, while PKS Advisory Services LLC invested about $952,000 in a new position during the fourth quarter. Prestige Wealth Management Group LLC raised its investment in Costco by 2.8%, bringing the number of shares they own to 2,697, worth $2,471,000 after acquiring 74 additional shares in the last quarter. Similarly, Signature Estate & Investment Advisors LLC increased its position by 1.9%, now owning 2,193 shares valued at $2,010,000 after purchasing 40 extra shares. Overall, institutional investors hold 68.48% of Costco's stock.

Insider Transactions

In other Costco Wholesale news, CEO Roland Michael Vachris recently sold 3,600 shares of the company on March 11th, at an average price of $931.00. This transaction totaled approximately $3,351,600, leading to an 8.06% reduction in his overall holdings. Following the sale, he remains a significant shareholder with 41,077 shares valued at $38,242,687. Insider ownership currently represents about 0.18% of Costco's stock.

Market Analysts' Predictions

Market analysts have provided various outlooks for Costco Wholesale. Barclays recently raised its target price from $940.00 to $980.00 while assigning the stock an 'equal weight' rating. Roth Mkm also increased its price objective from $755.00 to $907.00, maintaining a 'neutral' rating. Morgan Stanley hiked its target from $950.00 to $1,150.00 and rated the stock 'overweight.' Additionally, Raymond James raised their price target from $990.00 to $1,030.00, also classifying it as 'overweight.' Robert W. Baird made an upward revision from $1,075.00 to $1,125.00 with an 'outperform' rating. Currently, nine research analysts have given Costco a hold rating while twenty-one have assigned a buy rating, resulting in a consensus rating of 'Moderate Buy' along with an average target price of $1,029.00.

Stock Performance Overview

Costco Wholesale shares opened at $926.04 on Tuesday. The stock has experienced a 1-year low of $697.27 and a 1-year high of $1,078.24, reflecting its strong market capitalization of $410.87 billion. The company operates with a price-to-earnings ratio of 54.38 and holds a debt-to-equity ratio of 0.23. Costco has reported a current ratio of 0.98 and a quick ratio of 0.43, with a 50-day simple moving average at $987.58 and a 200-day simple moving average at $945.73.

Recent Earnings and Dividends

Costco Wholesale recently released its quarterly earnings on March 6th, showing an earnings per share (EPS) of $4.02 which fell short of the consensus estimate of $4.09 by $0.07. The retailer's revenue for the quarter was $63.72 billion, surpassing analyst expectations of $63.02 billion. The company maintained a net margin of 2.93% and a return on equity of 32.31%. Analysts project Costco Wholesale to achieve an EPS of 18.03 in the current fiscal year.

Furthermore, Costco has declared a quarterly dividend, which was distributed on February 21st to stockholders of record as of February 7th. The dividend paid was $1.16, translating to an annualized rate of $4.64, yielding approximately 0.50%. The ex-dividend date was also February 7th, with the company's dividend payout ratio currently at 27.09%.

About Costco Wholesale

Costco Wholesale Corporation, along with its subsidiaries, operates membership warehouses across various countries including the United States, Canada, Mexico, Japan, and several European nations. The company offers a wide array of products, from branded items to private-label merchandise, covering numerous categories.

Conclusion

With several investment firms adjusting their stakes and analysts projecting positive growth, Costco Wholesale remains an interesting player in the retail space.

Investment, Retail, Stocks