Night Squared LP Invests $3.06 Million in Costco Wholesale Corporation $COST

Key Points

• Night Squared LP has acquired a new position in Costco, purchasing 3,230 shares valued at approximately $3,055,000, making it the firm's 24th largest holding.
• Costco's recent quarterly earnings showed an EPS of $4.28, exceeding estimates, and a year-over-year revenue increase of 8.0%, reaching $63.21 billion.
• The retailer also declared a quarterly dividend of $1.30 per share, reflecting a 0.6% yield and a payout ratio of 29.50%.

Night Squared LP acquired a new position in Costco Wholesale Corporation (NASDAQ:COST - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 3,230 shares of the retailer's stock, valued at approximately $3,055,000. Costco Wholesale accounts for about 1.8% of Night Squared LP's portfolio, making the stock its 24th biggest position.

Other hedge funds have also added to or reduced their stakes in the company. Investment Management Corp VA ADV bought a new stake in shares of Costco Wholesale during the fourth quarter valued at approximately $25,000. Aspect Partners LLC increased its holdings in shares of Costco Wholesale by 24.4% during the first quarter. Aspect Partners LLC now owns 56 shares of the retailer's stock valued at $53,000 after acquiring an additional 11 shares in the last quarter. Capital A Wealth Management LLC bought a new stake in shares of Costco Wholesale during the fourth quarter valued at approximately $58,000. Mascagni Wealth Management Inc. bought a new stake in shares of Costco Wholesale during the fourth quarter valued at approximately $59,000. Finally, Bank & Trust Co increased its holdings in shares of Costco Wholesale by 20.4% during the first quarter. Bank & Trust Co now owns 65 shares of the retailer's stock valued at $61,000 after acquiring an additional 11 shares in the last quarter. 68.48% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Costco Wholesale news, EVP Teresa A. Jones sold 600 shares of the stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $992.05, for a total value of $595,230.00. Following the completion of the sale, the executive vice president owned 2,362 shares in the company, valued at approximately $2,343,222.10. This trade represents a 20.26% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Yoram Rubanenko sold 4,000 shares of the stock in a transaction that occurred on Monday, July 14th. The stock was sold at an average price of $974.96, for a total value of $3,899,840.00. Following the completion of 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 disclosure for this sale can be found here. In the last quarter, insiders have sold 10,147 shares of company stock worth $10,067,740. Insiders own 0.18% of the company's stock.

Costco Wholesale Trading Down 0.5%

COST stock traded down $4.79 during trading on Tuesday, hitting $938.53. 1,789,587 shares of the company traded hands, compared to its average volume of 2,217,451. The firm has a market capitalization of $416.22 billion, a PE ratio of 53.23, a P/E/G ratio of 5.86 and a beta of 0.97. Costco Wholesale Corporation has a 1 year low of $867.16 and a 1 year high of $1,078.23. The company has a 50-day moving average of $965.20 and a 200-day moving average of $979.61. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.52 and a current ratio of 1.02.

Costco Wholesale Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Friday, August 1st were issued a $1.30 dividend. The ex-dividend date was Friday, August 1st. This represents a $5.20 annualized dividend and a yield of 0.6%. Costco Wholesale's dividend payout ratio (DPR) is 29.50%.

Analysts Set New Price Targets

Several research analysts recently issued reports on COST shares. Telsey Advisory Group reaffirmed an "outperform" rating and set a $1,100.00 target price on shares of Costco Wholesale in a research report on Wednesday, August 27th. Truist Financial lifted their target price 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. Erste Group Bank cut Costco Wholesale from a "buy" rating to a "hold" rating in a research report on Tuesday, August 5th. Evercore ISI cut their target price 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. Finally, Stifel Nicolaus set a $1,035.00 target price on Costco Wholesale in a research report on Thursday, May 29th. Seventeen research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $1,050.00.

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.