RiverPark Advisors LLC Has $1.97 Million Stock Position in Costco Wholesale Co. (NASDAQ:COST)

RiverPark Advisors LLC boosted its stake in shares of Costco Wholesale Co. (NASDAQ:COST) by 10.9% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 2,227 shares of the retailer’s stock after buying an additional 219 shares during the period. Costco Wholesale makes up approximately 1.6% of RiverPark Advisors LLC’s holdings, making the stock its 23rd biggest holding. RiverPark Advisors LLC’s holdings in Costco Wholesale were worth $1,974,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. Concord Asset Management LLC VA raised its holdings in Costco Wholesale by 25.7% during the 3rd quarter. Concord Asset Management LLC VA now owns 4,093 shares of the retailer’s stock worth $3,629,000 after buying an additional 838 shares during the period. Sather Financial Group Inc acquired a new stake in Costco Wholesale during the 3rd quarter worth approximately $239,000. Sage Advisors LLC raised its holdings in Costco Wholesale by 9.5% during the 3rd quarter. Sage Advisors LLC now owns 1,205 shares of the retailer’s stock worth $1,068,000 after buying an additional 105 shares during the period. Schear Investment Advisers LLC raised its holdings in Costco Wholesale by 13.1% during the 3rd quarter. Schear Investment Advisers LLC now owns 4,612 shares of the retailer’s stock worth $4,089,000 after buying an additional 534 shares during the period. Finally, WESPAC Advisors SoCal LLC acquired a new stake in Costco Wholesale during the 3rd quarter worth approximately $208,000. 68.48% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Sanford C. Bernstein assumed coverage on shares of Costco Wholesale in a report on Tuesday, October 22nd. They issued an “outperform” rating and a $1,016.00 price objective on the stock. TD Cowen lifted their price objective on shares of Costco Wholesale from $925.00 to $975.00 and gave the company a “buy” rating in a report on Monday, September 30th. Redburn Atlantic downgraded shares of Costco Wholesale from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $860.00 to $890.00 in a report on Tuesday, September 10th. BMO Capital Markets reiterated an “outperform” rating and issued a $980.00 price objective (up from $950.00) on shares of Costco Wholesale in a report on Friday, September 27th. Finally, Telsey Advisory Group reiterated an “outperform” rating and issued a $1,000.00 price objective on shares of Costco Wholesale in a report on Monday, November 4th. Ten analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $905.30.

Insider Activity

In related news, EVP Claudine Adamo sold 3,200 shares of the business’s stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $888.99, for a total value of $2,844,768.00. Following the completion of the transaction, the executive vice president now owns 8,630 shares of the company’s stock, valued at $7,671,983.70. The trade was a 27.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Russell D. Miller sold 4,400 shares of the business’s stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $891.15, for a total value of $3,921,060.00. Following the completion of the transaction, the executive vice president now directly owns 10,202 shares of the company’s stock, valued at approximately $9,091,512.30. This trade represents a 30.13 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 11,016 shares of company stock valued at $9,826,115. 0.18% of the stock is owned by company insiders.

Costco Wholesale Trading Down 1.8 %

Shares of Costco Wholesale stock opened at $907.07 on Friday. The firm has a 50-day moving average of $897.62 and a 200-day moving average of $858.66. The stock has a market cap of $401.90 billion, a PE ratio of 54.74, a PEG ratio of 5.60 and a beta of 0.80. Costco Wholesale Co. has a 52-week low of $572.24 and a 52-week high of $962.00. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.44 and a current ratio of 0.97.

Costco Wholesale (NASDAQ:COST) last announced its earnings results on Thursday, September 26th. The retailer reported $5.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.05 by $0.10. The company had revenue of $79.70 billion during the quarter, compared to analysts’ expectations of $79.91 billion. Costco Wholesale had a net margin of 2.90% and a return on equity of 31.05%. Costco Wholesale’s quarterly revenue was up 1.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $4.86 earnings per share. As a group, sell-side analysts forecast that Costco Wholesale Co. will post 17.75 EPS for the current year.

Costco Wholesale Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 1st were given a $1.16 dividend. The ex-dividend date was Friday, November 1st. This represents a $4.64 dividend on an annualized basis and a dividend yield of 0.51%. Costco Wholesale’s payout ratio is presently 28.00%.

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.