Rossby Financial LCC Takes $559,000 Position in Costco Wholesale Co. (NASDAQ:COST)

Rossby Financial LCC bought a new position in shares of Costco Wholesale Co. (NASDAQ:COST) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 610 shares of the retailer’s stock, valued at approximately $559,000.

Several other large investors have also recently bought and sold shares of COST. Norges Bank bought a new stake in Costco Wholesale during the 4th quarter worth about $5,182,316,000. Proficio Capital Partners LLC lifted its stake in shares of Costco Wholesale by 74,796.3% in the 4th quarter. Proficio Capital Partners LLC now owns 1,521,893 shares of the retailer’s stock valued at $1,394,465,000 after purchasing an additional 1,519,861 shares during the period. Strategic Financial Concepts LLC grew its position in shares of Costco Wholesale by 100,422.3% during the 4th quarter. Strategic Financial Concepts LLC now owns 796,137 shares of the retailer’s stock worth $729,476,000 after buying an additional 795,345 shares during the period. Vanguard Group Inc. raised its holdings in Costco Wholesale by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 42,201,610 shares of the retailer’s stock worth $38,668,069,000 after purchasing an additional 455,043 shares during the period. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of Costco Wholesale by 55.7% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,068,772 shares of the retailer’s stock valued at $979,284,000 after purchasing an additional 382,367 shares in the last quarter. 68.48% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on COST shares. Truist Financial increased their price objective on Costco Wholesale from $935.00 to $995.00 and gave the stock a “hold” rating in a report on Friday, March 7th. Mizuho assumed coverage on Costco Wholesale in a research report on Friday. They issued a “neutral” rating and a $975.00 target price on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Costco Wholesale from $1,065.00 to $1,070.00 and gave the stock an “overweight” rating in a research note on Friday, March 7th. Barclays raised their target price on shares of Costco Wholesale from $940.00 to $980.00 and gave the stock an “equal weight” rating in a report on Monday, March 10th. Finally, Cowen reiterated a “buy” rating on shares of Costco Wholesale in a research note on Friday, March 7th. Ten analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company’s stock. Based on data from MarketBeat, Costco Wholesale presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,024.03.

Insider Buying and Selling

In related news, CEO Roland Michael Vachris sold 3,600 shares of the business’s stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $931.00, for a total transaction of $3,351,600.00. Following the transaction, the chief executive officer now directly owns 41,077 shares in the company, valued at approximately $38,242,687. The trade was a 8.06 % 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 this link. Also, EVP Claudine Adamo sold 900 shares of the stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $922.56, for a total transaction of $830,304.00. Following the completion of the sale, the executive vice president now owns 6,987 shares of the company’s stock, valued at approximately $6,445,926.72. This trade represents a 11.41 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 5,600 shares of company stock worth $5,215,915. 0.18% of the stock is owned by corporate insiders.

Costco Wholesale Stock Performance

Shares of COST stock opened at $963.41 on Monday. Costco Wholesale Co. has a 12 month low of $702.00 and a 12 month high of $1,078.24. The firm has a market capitalization of $427.45 billion, a PE ratio of 56.57, a price-to-earnings-growth ratio of 6.15 and a beta of 0.95. The firm has a fifty day simple moving average of $982.89 and a two-hundred day simple moving average of $949.81. The company has a current ratio of 0.98, a quick ratio of 0.43 and a debt-to-equity ratio of 0.23.

Costco Wholesale (NASDAQ:COST) last announced its quarterly earnings results on Thursday, March 6th. The retailer reported $4.02 earnings per share for the quarter, missing the consensus estimate of $4.09 by ($0.07). The business had revenue of $63.72 billion during the quarter, compared to the consensus estimate of $63.02 billion. Costco Wholesale had a net margin of 2.93% and a return on equity of 32.31%. Analysts forecast that Costco Wholesale Co. will post 18.03 EPS for the current fiscal year.

Costco Wholesale Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, February 21st. Investors of record on Friday, February 7th were given a dividend of $1.16 per share. The ex-dividend date was Friday, February 7th. This represents a $4.64 annualized dividend and a dividend yield of 0.48%. Costco Wholesale’s payout ratio is 27.09%.

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.