Infusive Asset Management Inc. Invests $2.49 Million in Costco Wholesale Co. (NASDAQ:COST)

Infusive Asset Management Inc. bought a new position in shares of Costco Wholesale Co. (NASDAQ:COST) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 2,804 shares of the retailer’s stock, valued at approximately $2,486,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of COST. RPg Family Wealth Advisory LLC purchased a new position in Costco Wholesale during the third quarter worth about $29,000. Financial Connections Group Inc. raised its stake in Costco Wholesale by 557.1% during the second quarter. Financial Connections Group Inc. now owns 46 shares of the retailer’s stock worth $39,000 after purchasing an additional 39 shares during the period. Bank & Trust Co acquired a new position in shares of Costco Wholesale in the 2nd quarter valued at $48,000. Ruedi Wealth Management Inc. grew its stake in shares of Costco Wholesale by 73.5% during the 2nd quarter. Ruedi Wealth Management Inc. now owns 59 shares of the retailer’s stock valued at $50,000 after buying an additional 25 shares during the period. Finally, Summit Securities Group LLC acquired a new stake in shares of Costco Wholesale during the 2nd quarter worth $50,000. 68.48% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Costco Wholesale

In other Costco Wholesale news, EVP Richard A. Galanti sold 1,416 shares of the firm’s stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $894.68, for a total transaction of $1,266,866.88. Following the transaction, the executive vice president now owns 27,400 shares of the company’s stock, valued at approximately $24,514,232. This trade represents a 4.91 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Claudine Adamo sold 3,200 shares of the stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $888.99, for a total transaction of $2,844,768.00. Following the completion of the transaction, the executive vice president now owns 8,630 shares of the company’s stock, valued at $7,671,983.70. This trade represents a 27.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 11,016 shares of company stock valued at $9,826,115. 0.18% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have commented on COST shares. DA Davidson restated a “neutral” rating and set a $880.00 price target on shares of Costco Wholesale in a research note on Thursday, October 10th. TD Cowen raised their price target on shares of Costco Wholesale from $925.00 to $975.00 and gave the company a “buy” rating in a report on Monday, September 30th. Melius Research began coverage on shares of Costco Wholesale in a research note on Monday, September 23rd. They set a “hold” rating and a $950.00 price objective for the company. BMO Capital Markets raised their target price on shares of Costco Wholesale from $980.00 to $1,075.00 and gave the company an “outperform” rating in a research note on Monday, November 18th. Finally, Stifel Nicolaus increased their price target on Costco Wholesale from $925.00 to $935.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Ten equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $908.81.

Costco Wholesale Price Performance

Shares of NASDAQ COST opened at $961.55 on Friday. The business’s fifty day moving average price is $906.32 and its two-hundred day moving average price is $870.06. The firm has a market capitalization of $426.03 billion, a PE ratio of 58.03, a P/E/G ratio of 5.93 and a beta of 0.80. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.97 and a quick ratio of 0.44. 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 earnings results on Thursday, September 26th. The retailer reported $5.15 EPS for the quarter, topping the consensus estimate of $5.05 by $0.10. The firm had revenue of $79.70 billion during the quarter, compared to analysts’ expectations of $79.91 billion. Costco Wholesale had a net margin of 2.90% and a return on equity of 31.05%. Costco Wholesale’s quarterly revenue was up 1.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $4.86 EPS. On average, research analysts expect that Costco Wholesale Co. will post 17.75 EPS for the current year.

Costco Wholesale Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 1st were given a dividend of $1.16 per share. The ex-dividend date of this dividend was Friday, November 1st. This represents a $4.64 dividend on an annualized basis and a yield of 0.48%. Costco Wholesale’s dividend payout ratio (DPR) is presently 28.00%.

Costco Wholesale Profile

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.