Matisse Capital Raises Position in Costco Wholesale Corporation $COST

Matisse Capital grew its position in Costco Wholesale Corporation (NASDAQ:COST) by 5.9% during the 2nd quarter, Holdings Channel reports. The fund owned 1,913 shares of the retailer’s stock after buying an additional 107 shares during the quarter. Matisse Capital’s holdings in Costco Wholesale were worth $1,893,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in COST. Corps Capital Advisors LLC raised its position in shares of Costco Wholesale by 0.7% in the first quarter. Corps Capital Advisors LLC now owns 1,547 shares of the retailer’s stock valued at $1,463,000 after buying an additional 10 shares during the last quarter. Covestor Ltd raised its position in shares of Costco Wholesale by 8.6% in the first quarter. Covestor Ltd now owns 126 shares of the retailer’s stock valued at $119,000 after buying an additional 10 shares during the last quarter. Farrell Financial LLC raised its position in shares of Costco Wholesale by 2.2% in the first quarter. Farrell Financial LLC now owns 522 shares of the retailer’s stock valued at $493,000 after buying an additional 11 shares during the last quarter. Western Pacific Wealth Management LP raised its position in shares of Costco Wholesale by 0.5% in the first quarter. Western Pacific Wealth Management LP now owns 2,035 shares of the retailer’s stock valued at $1,925,000 after buying an additional 11 shares during the last quarter. Finally, MOKAN Wealth Management Inc. raised its position in shares of Costco Wholesale by 0.4% in the first quarter. MOKAN Wealth Management Inc. now owns 2,638 shares of the retailer’s stock valued at $2,499,000 after buying an additional 11 shares during the last quarter. Hedge funds and other institutional investors own 68.48% of the company’s stock.

Insiders Place Their Bets

In other Costco Wholesale news, EVP Teresa A. Jones sold 600 shares of the business’s stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $992.05, for a total transaction of $595,230.00. Following the completion of the sale, the executive vice president directly owned 2,362 shares in the company, valued at $2,343,222.10. The trade was a 20.26% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Russell D. Miller sold 3,381 shares of the business’s stock in a transaction that occurred on Monday, September 29th. The stock was sold at an average price of $915.00, for a total transaction of $3,093,615.00. Following the sale, the executive vice president owned 9,740 shares of the company’s stock, valued at approximately $8,912,100. This represents a 25.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 7,981 shares of company stock worth $7,588,685 over the last ninety days. 0.18% of the stock is owned by company insiders.

Costco Wholesale Price Performance

COST opened at $914.80 on Thursday. The company has a quick ratio of 0.55, a current ratio of 1.03 and a debt-to-equity ratio of 0.20. Costco Wholesale Corporation has a 52-week low of $867.34 and a 52-week high of $1,078.23. The company has a 50 day moving average of $952.43 and a two-hundred day moving average of $971.37. The company has a market cap of $405.69 billion, a P/E ratio of 50.24, a P/E/G ratio of 5.55 and a beta of 0.98.

Costco Wholesale (NASDAQ:COST) last released its quarterly earnings data on Thursday, September 25th. The retailer reported $5.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.81 by $0.06. Costco Wholesale had a net margin of 2.94% and a return on equity of 30.09%. The company had revenue of $86.16 billion during the quarter, compared to the consensus estimate of $86.01 billion. During the same period in the previous year, the firm earned $5.15 earnings per share. Costco Wholesale’s revenue for the quarter was up 8.1% on a year-over-year basis. On average, analysts expect that Costco Wholesale Corporation will post 18.03 earnings per share for the current year.

Costco Wholesale Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Friday, August 1st were paid a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 0.6%. The ex-dividend date was Friday, August 1st. Costco Wholesale’s payout ratio is currently 28.56%.

Analyst Upgrades and Downgrades

COST has been the subject of a number of analyst reports. JPMorgan Chase & Co. cut their price objective on shares of Costco Wholesale from $1,160.00 to $1,050.00 and set an “overweight” rating for the company in a research report on Friday, September 26th. Weiss Ratings restated a “buy (b-)” rating on shares of Costco Wholesale in a report on Wednesday. Roth Capital set a $907.00 target price on shares of Costco Wholesale and gave the company a “neutral” rating in a report on Friday, September 26th. DA Davidson restated a “neutral” rating and issued a $1,000.00 target price on shares of Costco Wholesale in a report on Friday, September 26th. Finally, Morgan Stanley lowered their target price on shares of Costco Wholesale from $1,225.00 to $1,130.00 and set an “overweight” rating for the company in a report on Friday, September 26th. Nineteen analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Costco Wholesale presently has an average rating of “Moderate Buy” and a consensus target price of $1,067.19.

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.