Napa Wealth Management Acquires Shares of 3,944 Costco Wholesale Co. (NASDAQ:COST)

Napa Wealth Management bought a new position in shares of Costco Wholesale Co. (NASDAQ:COST) in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor bought 3,944 shares of the retailer’s stock, valued at approximately $3,497,000. Costco Wholesale accounts for approximately 1.7% of Napa Wealth Management’s holdings, making the stock its 8th biggest position.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in COST. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors increased its position in shares of Costco Wholesale by 62.8% during the third quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors now owns 2,417 shares of the retailer’s stock worth $2,143,000 after purchasing an additional 932 shares in the last quarter. Hudson Value Partners LLC boosted its stake in Costco Wholesale by 7.6% during the 3rd quarter. Hudson Value Partners LLC now owns 8,046 shares of the retailer’s stock worth $7,133,000 after purchasing an additional 568 shares during the last quarter. Cantor Fitzgerald Investment Advisors L.P. grew its holdings in shares of Costco Wholesale by 66.9% during the third quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 3,088 shares of the retailer’s stock worth $2,738,000 after buying an additional 1,238 shares in the last quarter. J.W. Cole Advisors Inc. raised its position in shares of Costco Wholesale by 52.1% in the second quarter. J.W. Cole Advisors Inc. now owns 7,645 shares of the retailer’s stock valued at $6,499,000 after buying an additional 2,620 shares during the last quarter. Finally, Patton Fund Management Inc. purchased a new position in shares of Costco Wholesale in the third quarter worth about $6,424,000. Hedge funds and other institutional investors own 68.48% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. TD Cowen boosted their target price on Costco Wholesale from $925.00 to $975.00 and gave the stock a “buy” rating in a report on Monday, September 30th. Loop Capital boosted their price objective on Costco Wholesale from $975.00 to $1,005.00 and gave the stock a “buy” rating in a research note on Friday, September 27th. Truist Financial cut Costco Wholesale from a “buy” rating to a “hold” rating and set a $873.00 target price for the company. in a report on Tuesday, September 24th. DA Davidson reiterated a “neutral” rating and set a $880.00 price target on shares of Costco Wholesale in a report on Thursday, October 10th. Finally, The Goldman Sachs Group upped their price objective on shares of Costco Wholesale from $876.00 to $995.00 and gave the company a “buy” rating in a report on Friday, September 27th. Ten research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $905.30.

Insider Buying and Selling

In other news, EVP Russell D. Miller sold 4,400 shares of the company’s stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $891.15, for a total transaction of $3,921,060.00. Following the completion of the transaction, the executive vice president now directly owns 10,202 shares of the company’s stock, valued at approximately $9,091,512.30. This represents a 30.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Claudine Adamo sold 3,200 shares of the stock in a transaction 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 in the company, valued at $7,671,983.70. This 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 worth $9,826,115. Insiders own 0.18% of the company’s stock.

Costco Wholesale Stock Performance

NASDAQ:COST opened at $911.00 on Monday. The company has a quick ratio of 0.44, a current ratio of 0.97 and a debt-to-equity ratio of 0.25. The company has a market cap of $403.64 billion, a P/E ratio of 54.74, a P/E/G ratio of 5.60 and a beta of 0.80. The firm’s 50 day moving average is $897.62 and its two-hundred day moving average is $859.62. Costco Wholesale Co. has a fifty-two week low of $577.34 and a fifty-two week high of $962.00.

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

Costco Wholesale Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 1st were paid a dividend of $1.16 per share. The ex-dividend date was Friday, November 1st. This represents a $4.64 dividend on an annualized basis and a yield of 0.51%. Costco Wholesale’s dividend payout ratio (DPR) is presently 28.00%.

Costco Wholesale Company 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.