Draper Asset Management LLC Purchases 437 Shares of Costco Wholesale Co. (NASDAQ:COST)

Draper Asset Management LLC boosted its holdings in shares of Costco Wholesale Co. (NASDAQ:COST) by 23.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,293 shares of the retailer’s stock after purchasing an additional 437 shares during the period. Costco Wholesale comprises approximately 1.5% of Draper Asset Management LLC’s investment portfolio, making the stock its 11th biggest position. Draper Asset Management LLC’s holdings in Costco Wholesale were worth $2,033,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. China Universal Asset Management Co. Ltd. boosted its position in Costco Wholesale by 22.3% in the first quarter. China Universal Asset Management Co. Ltd. now owns 7,719 shares of the retailer’s stock valued at $5,655,000 after buying an additional 1,408 shares in the last quarter. Bamco Inc. NY grew its position in Costco Wholesale by 74.9% during the 1st quarter. Bamco Inc. NY now owns 7,715 shares of the retailer’s stock worth $5,652,000 after acquiring an additional 3,303 shares during the last quarter. Mount Yale Investment Advisors LLC increased its holdings in Costco Wholesale by 210.5% in the 1st quarter. Mount Yale Investment Advisors LLC now owns 1,068 shares of the retailer’s stock worth $783,000 after purchasing an additional 724 shares in the last quarter. Waverly Advisors LLC raised its position in Costco Wholesale by 69.2% in the first quarter. Waverly Advisors LLC now owns 3,866 shares of the retailer’s stock valued at $2,832,000 after purchasing an additional 1,581 shares during the last quarter. Finally, Kennedy Capital Management LLC acquired a new stake in shares of Costco Wholesale during the first quarter valued at about $5,471,000. 68.48% of the stock is currently owned by institutional investors.

Costco Wholesale Price Performance

Shares of NASDAQ COST opened at $964.01 on Friday. The company has a current ratio of 0.97, a quick ratio of 0.44 and a debt-to-equity ratio of 0.25. The firm’s 50-day moving average price is $901.18 and its 200-day moving average price is $865.47. The firm has a market capitalization of $427.12 billion, a P/E ratio of 58.18, a P/E/G ratio of 5.90 and a beta of 0.80. Costco Wholesale Co. has a 1-year low of $582.83 and a 1-year high of $976.30.

Costco Wholesale (NASDAQ:COST) last posted its quarterly earnings results on Thursday, September 26th. The retailer reported $5.15 earnings per share for the quarter, topping analysts’ consensus estimates of $5.05 by $0.10. Costco Wholesale had a return on equity of 31.05% and a net margin of 2.90%. The business had revenue of $79.70 billion for the quarter, compared to the consensus estimate of $79.91 billion. During the same period in the prior year, the business earned $4.86 EPS. The firm’s revenue for the quarter was up 1.0% on a year-over-year basis. Equities research analysts anticipate that Costco Wholesale Co. will post 17.75 earnings per share for the current fiscal year.

Costco Wholesale Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, November 1st were issued a $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a dividend yield of 0.48%. The ex-dividend date of this dividend was Friday, November 1st. Costco Wholesale’s dividend payout ratio is currently 28.00%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on COST. Truist Financial downgraded Costco Wholesale from a “buy” rating to a “hold” rating and set a $873.00 price objective for the company. in a research note on Tuesday, September 24th. Sanford C. Bernstein initiated coverage on shares of Costco Wholesale in a research report on Tuesday, October 22nd. They issued an “outperform” rating and a $1,016.00 price target for the company. The Goldman Sachs Group lifted their price target on shares of Costco Wholesale from $876.00 to $995.00 and gave the stock a “buy” rating in a report on Friday, September 27th. Loop Capital boosted their price objective on shares of Costco Wholesale from $975.00 to $1,005.00 and gave the stock a “buy” rating in a research note on Friday, September 27th. Finally, Barclays raised their target price on Costco Wholesale from $830.00 to $850.00 and gave the stock an “equal weight” rating in a research report on Friday, September 27th. Ten analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $908.81.

Insider Activity at Costco Wholesale

In other news, EVP Claudine Adamo sold 3,200 shares of the stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $888.99, for a total value of $2,844,768.00. Following the completion of the sale, the executive vice president now directly owns 8,630 shares of the company’s stock, valued at $7,671,983.70. This represents a 27.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Russell D. Miller sold 4,400 shares of Costco Wholesale stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $891.15, for a total value of $3,921,060.00. Following the transaction, the executive vice president now directly owns 10,202 shares in the company, valued at approximately $9,091,512.30. The trade was a 30.13 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 11,016 shares of company stock valued at $9,826,115. 0.18% of the stock is owned by company insiders.

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.