NINE MASTS CAPITAL Ltd Makes New $340,000 Investment in Costco Wholesale Co. (NASDAQ:COST)

NINE MASTS CAPITAL Ltd bought a new position in shares of Costco Wholesale Co. (NASDAQ:COST) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 400 shares of the retailer’s stock, valued at approximately $340,000.

Other hedge funds have also modified their holdings of the company. Frank Rimerman Advisors LLC acquired a new position in Costco Wholesale during the fourth quarter worth about $26,000. Redmont Wealth Advisors LLC purchased a new stake in shares of Costco Wholesale during the 1st quarter worth approximately $32,000. Financial Connections Group Inc. boosted its stake in shares of Costco Wholesale by 557.1% during the 2nd quarter. Financial Connections Group Inc. now owns 46 shares of the retailer’s stock worth $39,000 after acquiring an additional 39 shares in the last quarter. Vima LLC acquired a new stake in shares of Costco Wholesale in the 4th quarter worth approximately $34,000. Finally, DSM Capital Partners LLC purchased a new position in Costco Wholesale in the 4th quarter valued at approximately $36,000. 68.48% of the stock is owned by institutional investors and hedge funds.

Costco Wholesale Stock Performance

Shares of COST stock opened at $900.40 on Thursday. The firm has a market capitalization of $399.18 billion, a price-to-earnings ratio of 55.79, a price-to-earnings-growth ratio of 5.33 and a beta of 0.80. The company has a 50 day moving average price of $859.92 and a 200 day moving average price of $803.66. Costco Wholesale Co. has a one year low of $540.23 and a one year high of $918.93. 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 Announces Dividend

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

Wall Street Analyst Weigh In

Several analysts have weighed in on COST shares. Citigroup upped their target price on Costco Wholesale from $710.00 to $800.00 and gave the company a “neutral” rating in a report on Friday, May 31st. TD Cowen increased their price objective on shares of Costco Wholesale from $850.00 to $925.00 and gave the company a “buy” rating in a research note on Friday, July 12th. Stifel Nicolaus lifted their target price on shares of Costco Wholesale from $910.00 to $915.00 and gave the stock a “buy” rating in a research report on Friday, September 6th. Telsey Advisory Group reiterated an “outperform” rating and issued a $925.00 price target on shares of Costco Wholesale in a research report on Friday, September 6th. Finally, Wells Fargo & Company raised their price objective 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. Eight investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $844.52.

Insider Activity at Costco Wholesale

In other news, insider Daniel M. Hines sold 1,500 shares of the business’s stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $844.20, for a total transaction of $1,266,300.00. Following the completion of the sale, the insider now owns 12,492 shares in the company, valued at approximately $10,545,746.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Daniel M. Hines sold 1,500 shares of Costco Wholesale 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 owns 12,492 shares in the company, valued at approximately $10,545,746.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Richard A. Galanti sold 500 shares of the company’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $863.88, for a total transaction of $431,940.00. Following the sale, the executive vice president now directly owns 23,800 shares of the company’s stock, valued at $20,560,344. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 4,974 shares of company stock worth $4,252,856. 0.18% of the stock is owned by 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.