NINE MASTS CAPITAL Ltd Takes $340,000 Position in Costco Wholesale Co. (NASDAQ:COST)

NINE MASTS CAPITAL Ltd purchased a new stake in shares of Costco Wholesale Co. (NASDAQ:COST) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 400 shares of the retailer’s stock, valued at approximately $340,000.

A number of other large investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in Costco Wholesale by 1.2% during the first quarter. Vanguard Group Inc. now owns 40,833,870 shares of the retailer’s stock worth $29,916,118,000 after buying an additional 473,702 shares during the period. Norges Bank purchased a new position in shares of Costco Wholesale during the 4th quarter worth approximately $3,628,694,000. Capital World Investors increased its holdings in Costco Wholesale by 8.1% in the 1st quarter. Capital World Investors now owns 3,824,778 shares of the retailer’s stock valued at $2,802,147,000 after purchasing an additional 285,533 shares during the last quarter. Fisher Asset Management LLC raised its position in Costco Wholesale by 3.0% in the fourth quarter. Fisher Asset Management LLC now owns 2,790,935 shares of the retailer’s stock valued at $1,842,241,000 after purchasing an additional 81,853 shares during the period. Finally, American Century Companies Inc. raised its position in Costco Wholesale by 2.2% in the second quarter. American Century Companies Inc. now owns 1,394,060 shares of the retailer’s stock valued at $1,184,937,000 after purchasing an additional 30,359 shares during the period. 68.48% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Costco Wholesale news, insider Daniel M. Hines sold 1,500 shares of the firm’s stock in a transaction on Friday, July 12th. The shares were sold at an average price of $844.20, for a total transaction of $1,266,300.00. Following the transaction, the insider now directly owns 12,492 shares of the company’s stock, valued at approximately $10,545,746.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Kenneth D. Denman sold 350 shares of the company’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $851.53, for a total transaction of $298,035.50. Following the completion of the sale, the director now owns 5,920 shares in the company, valued at $5,041,057.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Daniel M. Hines sold 1,500 shares of the stock in a transaction on Friday, July 12th. The stock was sold at an average price of $844.20, for a total value of $1,266,300.00. Following the sale, the insider now directly owns 12,492 shares of the company’s stock, valued at $10,545,746.40. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 4,974 shares of company stock valued at $4,252,856. 0.18% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on COST shares. TD Cowen lifted their price objective on Costco Wholesale from $850.00 to $925.00 and gave the company a “buy” rating in a research note on Friday, July 12th. Wells Fargo & Company boosted their price target on shares of Costco Wholesale from $775.00 to $800.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 11th. Stifel Nicolaus raised their price objective on shares of Costco Wholesale from $910.00 to $915.00 and gave the company a “buy” rating in a research note on Friday, September 6th. Morgan Stanley lifted their price objective on shares of Costco Wholesale from $855.00 to $950.00 and gave the company an “overweight” rating in a report on Monday. Finally, Oppenheimer raised their price target on shares of Costco Wholesale from $925.00 to $955.00 and gave the company an “outperform” rating in a research report on Friday, September 6th. Eight research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $844.52.

Costco Wholesale Stock Up 0.7 %

COST opened at $900.40 on Thursday. The stock has a market capitalization of $399.18 billion, a P/E ratio of 55.79, a price-to-earnings-growth ratio of 5.33 and a beta of 0.80. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.45 and a current ratio of 0.94. Costco Wholesale Co. has a one year low of $540.23 and a one year high of $918.93. The business’s 50-day simple moving average is $859.92 and its 200-day simple moving average is $803.66.

Costco Wholesale Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 9th. Shareholders of record on Friday, July 26th were paid a $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a yield of 0.52%. The ex-dividend date was Friday, July 26th. Costco Wholesale’s dividend payout ratio is currently 28.75%.

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.