Napa Wealth Management Decreases Stake in Costco Wholesale Co. (NASDAQ:COST)

Napa Wealth Management cut its holdings in shares of Costco Wholesale Co. (NASDAQ:COST) by 69.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,208 shares of the retailer’s stock after selling 2,736 shares during the quarter. Napa Wealth Management’s holdings in Costco Wholesale were worth $1,107,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Costco Wholesale by 3.9% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 362,294 shares of the retailer’s stock worth $331,959,000 after buying an additional 13,730 shares during the last quarter. Mmbg Investment Advisors CO. raised its position in Costco Wholesale by 10.0% during the 4th quarter. Mmbg Investment Advisors CO. now owns 3,724 shares of the retailer’s stock worth $3,412,000 after buying an additional 339 shares during the last quarter. Moore Capital Management LP purchased a new position in Costco Wholesale during the 4th quarter worth approximately $1,181,000. Leigh Baldwin & CO. LLC purchased a new position in Costco Wholesale during the 4th quarter worth approximately $95,452,000. Finally, Investor s Fiduciary Advisor Network LLC purchased a new position in Costco Wholesale during the 4th quarter worth approximately $1,851,000. 68.48% of the stock is owned by hedge funds and other institutional investors.

Costco Wholesale Trading Up 0.8%

Shares of COST opened at $1,016.15 on Tuesday. Costco Wholesale Co. has a 52-week low of $771.43 and a 52-week high of $1,078.24. The company has a quick ratio of 0.43, a current ratio of 0.98 and a debt-to-equity ratio of 0.23. The firm’s fifty day moving average is $958.05 and its two-hundred day moving average is $964.92. The stock has a market cap of $450.85 billion, a PE ratio of 59.67, a price-to-earnings-growth ratio of 6.15 and a beta of 1.00.

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

Costco Wholesale Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 16th. Stockholders of record on Friday, May 2nd will be issued a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 0.51%. The ex-dividend date of this dividend is Friday, May 2nd. This is a positive change from Costco Wholesale’s previous quarterly dividend of $1.16. Costco Wholesale’s payout ratio is currently 30.36%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Telsey Advisory Group reissued an “outperform” rating and set a $1,100.00 price target on shares of Costco Wholesale in a research report on Monday, May 5th. Loop Capital dropped their price objective on shares of Costco Wholesale from $1,150.00 to $1,045.00 and set a “buy” rating on the stock in a research note on Wednesday, April 9th. Barclays raised their price objective on shares of Costco Wholesale from $940.00 to $980.00 and gave the stock an “equal weight” rating in a research note on Monday, March 10th. DA Davidson raised their price objective on shares of Costco Wholesale from $900.00 to $1,000.00 and gave the stock a “neutral” rating in a research note on Thursday, February 6th. Finally, Cowen reaffirmed a “buy” rating on shares of Costco Wholesale in a research note on Friday, March 7th. Ten investment analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $1,024.03.

Insider Transactions at Costco Wholesale

In other news, EVP James C. Klauer sold 4,000 shares of Costco Wholesale stock in a transaction on Thursday, April 17th. The stock was sold at an average price of $981.07, for a total transaction of $3,924,280.00. Following the transaction, the executive vice president now owns 43,994 shares in the company, valued at $43,161,193.58. The trade was a 8.33% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 completion of the sale, the chief executive officer now owns 41,077 shares in the company, valued at approximately $38,242,687. This trade represents a 8.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 9,600 shares of company stock worth $9,140,195 in the last quarter. Company insiders own 0.18% of the company’s stock.

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.