Novem Group Invests $619,000 in Costco Wholesale Co. (NASDAQ:COST)

Novem Group acquired a new stake in Costco Wholesale Co. (NASDAQ:COST - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 676 shares of the retailer's stock, valued at approximately $619,000.

Other hedge funds have also modified their holdings of the company. Cromwell Holdings LLC increased its holdings in shares of Costco Wholesale by 0.9% in the fourth quarter. Cromwell Holdings LLC now owns 1,144 shares of the retailer's stock valued at $1,048,000 after buying an additional 10 shares in the last quarter. 44 Wealth Management LLC increased its holdings in shares of Costco Wholesale by 0.3% in the fourth quarter. 44 Wealth Management LLC now owns 3,488 shares of the retailer's stock valued at $3,196,000 after buying an additional 10 shares in the last quarter. SRN Advisors LLC increased its holdings in shares of Costco Wholesale by 0.3% in the fourth quarter. SRN Advisors LLC now owns 3,081 shares of the retailer's stock valued at $2,823,000 after buying an additional 10 shares in the last quarter. Miramar Capital LLC increased its holdings in shares of Costco Wholesale by 1.9% in the fourth quarter. Miramar Capital LLC now owns 525 shares of the retailer's stock valued at $481,000 after buying an additional 10 shares in the last quarter. Finally, Clear Investment Research LLC increased its holdings 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 valued at $51,000 after buying an additional 10 shares in the last quarter. 68.48% of the stock is owned by institutional investors and hedge funds.

Costco Wholesale Stock Performance

COST stock traded down $9.63 during mid-day trading on Friday, reaching $1,008.50. 1,412,932 shares of the stock traded hands, compared to its average volume of 2,050,015. The company has a quick ratio of 0.43, a current ratio of 0.98 and a debt-to-equity ratio of 0.23. Costco Wholesale Co. has a 52 week low of $788.20 and a 52 week high of $1,078.24. The business has a 50-day moving average of $973.21 and a two-hundred day moving average of $972.06. The firm has a market capitalization of $447.45 billion, a PE ratio of 59.22, a P/E/G ratio of 6.15 and a beta of 1.00.

Costco Wholesale (NASDAQ:COST - Get Free Report) last released its quarterly earnings results on Thursday, March 6th. The retailer reported $4.02 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $4.09 by ($0.07). Costco Wholesale had a net margin of 2.93% and a return on equity of 32.31%. The firm had revenue of $63.72 billion for the quarter, compared to the consensus estimate of $63.02 billion. As a group, equities analysts predict that Costco Wholesale Co. will post 18.03 EPS for the current fiscal year.

Costco Wholesale Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 16th. Shareholders of record on Friday, May 2nd were issued a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 0.52%. This is a boost from Costco Wholesale's previous quarterly dividend of $1.16. The ex-dividend date was Friday, May 2nd. Costco Wholesale's dividend payout ratio is 30.36%.

Insider Buying and Selling at Costco Wholesale

In related news, EVP James C. Klauer sold 4,000 shares of the stock in a transaction dated Thursday, April 17th. The shares were sold at an average price of $981.07, for a total value of $3,924,280.00. Following the completion of the sale, the executive vice president now owns 43,994 shares in the company, valued at approximately $43,161,193.58. This trade represents a 8.33% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Roland Michael Vachris sold 3,600 shares of the 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 of the company's stock, valued at approximately $38,242,687. The trade was a 8.06% decrease in their position. The disclosure for this sale can be found here. Insiders sold 9,600 shares of company stock worth $9,140,195 over the last ninety days. Company insiders own 0.18% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on COST. Truist Financial boosted their target price on shares of Costco Wholesale from $935.00 to $995.00 and gave the company a "hold" rating in a research note on Friday, March 7th. Cowen reissued a "buy" rating on shares of Costco Wholesale in a research note on Friday, March 7th. Loop Capital cut their target price 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. Telsey Advisory Group reissued an "outperform" rating on shares of Costco Wholesale in a research note on Wednesday. Finally, Barclays boosted their target price on shares of Costco Wholesale from $940.00 to $980.00 and gave the company an "equal weight" rating in a research note on Monday, March 10th. Ten analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company's stock. According to MarketBeat.com, Costco Wholesale has an average rating of "Moderate Buy" and a consensus target price of $1,024.03.

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.