Woodward Diversified Capital LLC Boosts Stake in Costco Wholesale Corporation (NASDAQ:COST)

Woodward Diversified Capital LLC increased its position in Costco Wholesale Corporation (NASDAQ:COST) by 6.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 247 shares of the retailer’s stock after buying an additional 14 shares during the period. Woodward Diversified Capital LLC’s holdings in Costco Wholesale were worth $234,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Investment Management Corp VA ADV purchased a new stake in shares of Costco Wholesale in the fourth quarter worth about $25,000. Clear Investment Research LLC lifted its position in shares of Costco Wholesale by 22.2% in the fourth quarter. Clear Investment Research LLC now owns 55 shares of the retailer’s stock worth $51,000 after buying an additional 10 shares in the last quarter. Aspect Partners LLC lifted its position in shares of Costco Wholesale by 24.4% in the first quarter. Aspect Partners LLC now owns 56 shares of the retailer’s stock worth $53,000 after buying an additional 11 shares in the last quarter. Capital A Wealth Management LLC purchased a new stake in shares of Costco Wholesale in the fourth quarter worth about $58,000. Finally, Mascagni Wealth Management Inc. purchased a new stake in shares of Costco Wholesale in the fourth quarter worth about $59,000. 68.48% of the stock is currently owned by hedge funds and other institutional investors.

Costco Wholesale Stock Down 1.7%

Shares of NASDAQ:COST opened at $951.37 on Thursday. Costco Wholesale Corporation has a 52-week low of $793.00 and a 52-week high of $1,078.24. The stock has a market cap of $421.91 billion, a P/E ratio of 53.96, a price-to-earnings-growth ratio of 6.02 and a beta of 0.97. The business’s 50 day moving average is $1,001.13 and its 200 day moving average is $982.21. The company has a quick ratio of 0.52, a current ratio of 1.02 and a debt-to-equity ratio of 0.21.

Costco Wholesale (NASDAQ:COST) last announced its quarterly earnings data on Thursday, May 29th. The retailer reported $4.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.24 by $0.04. Costco Wholesale had a return on equity of 30.48% and a net margin of 2.92%. The company had revenue of $63.21 billion for the quarter, compared to analysts’ expectations of $62.93 billion. During the same quarter in the prior year, the firm earned $3.78 earnings per share. Costco Wholesale’s revenue was up 8.0% compared to the same quarter last year. Sell-side analysts predict that Costco Wholesale Corporation will post 18.03 EPS for the current year.

Costco Wholesale Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Friday, August 1st will be paid a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 0.55%. Costco Wholesale’s dividend payout ratio (DPR) is currently 29.50%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on COST. Telsey Advisory Group restated an “outperform” rating and set a $1,100.00 price objective on shares of Costco Wholesale in a research report on Thursday, July 10th. Cfra Research upgraded Costco Wholesale from a “hold” rating to a “moderate buy” rating in a research report on Friday, April 4th. Morgan Stanley upped their price objective on Costco Wholesale from $1,150.00 to $1,225.00 and gave the company an “overweight” rating in a research report on Friday, May 30th. Truist Financial upped their price objective on Costco Wholesale from $995.00 to $1,042.00 and gave the company a “hold” rating in a research report on Friday, May 30th. Finally, Evercore ISI decreased their price objective on Costco Wholesale from $1,075.00 to $1,060.00 and set an “outperform” rating on the stock in a research report on Tuesday, June 17th. Nine investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,037.48.

Insider Transactions at Costco Wholesale

In other Costco Wholesale news, EVP Yoram Rubanenko sold 4,000 shares of the stock in a transaction on Monday, July 14th. The stock was sold at an average price of $974.96, for a total transaction of $3,899,840.00. Following the sale, the executive vice president owned 5,774 shares of the company’s stock, valued at approximately $5,629,419.04. This trade represents a 40.92% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Susan L. Decker sold 547 shares of the stock in a transaction on Wednesday, June 18th. The shares were sold at an average price of $980.00, for a total value of $536,060.00. Following the sale, the director directly owned 11,531 shares in the company, valued at $11,300,380. This trade represents a 4.53% decrease in their position. The disclosure for this sale can be found here. Insiders sold 9,547 shares of company stock worth $9,472,510 in the last ninety days. 0.18% of the stock is owned by company insiders.

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.