Trinity Legacy Partners LLC, a financial investment firm, has increased its stake in Costco Wholesale Co. (NASDAQ: COST) by 3.8% during the second quarter of this year. This information was recently disclosed in Trinity Legacy Partners LLC’s 13F filing with the Securities and Exchange Commission (SEC). According to the filing, Trinity Legacy Partners LLC now owns 9,354 shares of Costco Wholesale’s stock after acquiring an additional 344 shares during the quarter.
Costco Wholesale is one of the leading retail giants in the United States, offering a wide range of products at competitive prices to its loyal customer base. With over 800 warehouses worldwide and a strong online presence, Costco has established itself as a go-to destination for many consumers seeking quality goods at affordable prices.
Trinity Legacy Partners LLC’s holdings in Costco Wholesale account for approximately 1.8% of its overall portfolio, making it the company’s 24th largest position. As of its most recent filing with the SEC, Trinity Legacy Partners LLC’s holdings in Costco Wholesale were valued at $5,036,000.
In addition to increasing its stake in Costco Wholesale, Trinity Legacy Partners LLC also revealed that it has received a quarterly dividend from the company. The dividend payment was made on September 8th to shareholders of record as of August 25th. Shareholders received a dividend payout of $1.02 per share for this quarter. On an annualized basis, this represents a total dividend payout of $4.08 per share and a dividend yield of 0.73%. The ex-dividend date for this payment was August 24th.
Currently, Costco Wholesale maintains a dividend payout ratio of approximately 30.22%. This ensures that shareholders receive a significant portion of the company’s earnings as dividends.
As investors continue to evaluate their portfolios and make strategic decisions, keeping track of changes made by prominent firms such as Trinity Legacy Partners LLC can provide valuable insights. It is worth noting that Trinity Legacy Partners LLC’s decision to increase its stake in Costco Wholesale reflects confidence in the company’s financial performance and long-term prospects.
Disclaimer: The information provided in this article is for informational purposes only and should not be considered as financial advice. Investing in stocks involves risks, and it is important to conduct thorough research and consult with a professional before making any investment decisions.
Institutional Investors Show Confidence in Costco Wholesale as Stakes Increase and Analysts Provide Favorable Ratings
Institutional investors have been making significant moves in their stakes with regards to Costco Wholesale (NASDAQ:COST). Moneta Group Investment Advisors LLC, for example, has increased its position in the company by a whopping 118,320.2% during the last quarter of 2022, now owning over 7 million shares valued at $3.4 billion. Other notable institutional investors include Norges Bank and Morgan Stanley, who have also added to their positions.
Norges Bank, a prominent investment fund based in Norway, entered into a new position with Costco during the fourth quarter of 2022. The fund acquired approximately $2.3 billion worth of shares, showcasing confidence in the retailer’s long-term growth potential. Meanwhile, Morgan Stanley increased its stake by 18%, now holding over 8 million shares worth $3.9 billion.
Furthermore, CI Private Wealth LLC and Bank of New York Mellon Corp also made noteworthy moves with regards to their positions in Costco Wholesale during the fourth quarter. CI Private Wealth acquired shares worth around $245 million while Bank of New York Mellon Corp increased its stake by 10.6%.
These substantial investments from institutional investors indicate a high level of confidence in Costco Wholesale’s future prospects and underscore its strong position within the retail industry.
In terms of analyst ratings and price targets, several brokerage firms have provided favorable assessments of Costco Wholesale. Oppenheimer raised its price target on the stock from $575 to $630, giving it an “outperform” rating. Similarly, Loop Capital raised its target price from $545 to $570 while VNET Group reiterated their positive stance on the stock.
Meanwhile,U.S.-based UBS Group demonstrated confidence in Costco by raising its target price from $560 to $640 and labeling it as a “buy.” Truist Financial also expressed optimism about the company’s performance by increasing its price target from $567 to $597 and giving it a “buy” rating.
Overall, analysts tend to have a positive outlook on Costco Wholesale, with five rating it as a hold and sixteen labeling it as a buy. According to Bloomberg.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $566.63.
In terms of dividends, Costco recently declared a quarterly dividend on September 8th for its shareholders. The dividend payment stood at $1.02 per share, representing an annualized dividend yield of 0.73%. This demonstrates the company’s commitment to rewarding its shareholders.
It’s worth noting that director Susan L. Decker sold 1,565 shares of Costco Wholesale’s stock in late June at an average price of $533 per share. The value of this transaction amounted to approximately $834,145. Despite this sale, Decker still retains over 13,000 shares valued at around $7 million.
As for the financial performance and stock movements, Costco Wholesale opened trading at $556.36 on September 17th. The stock has exhibited strong performance thus far, with its 50-day moving average standing at $551.21 and its 200-day moving average at $519.60.
Costco’s market capitalization is estimated to be around $246.52 billion with a price-to-earnings ratio of 41.21 and a PEG ratio of 4.17, indicating possible room for growth in the future.
In conclusion, institutional investors continue to show interest in increasing their stakes in Costco Wholesale as evidenced by their recent moves during the fourth quarter. Analysts have also provided favorable ratings and price targets for the stock due to its solid performance and growth prospects within the retail sector.