Adage Capital Partners GP L.L.C. Purchases 11,997 Shares of Costco Wholesale Co. (NASDAQ:COST)

Adage Capital Partners GP L.L.C. raised its position in shares of Costco Wholesale Co. (NASDAQ:COST) by 3.2% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 387,195 shares of the retailer’s stock after purchasing an additional 11,997 shares during the quarter. Costco Wholesale accounts for approximately 0.6% of Adage Capital Partners GP L.L.C.’s holdings, making the stock its 26th biggest position. Adage Capital Partners GP L.L.C. owned about 0.09% of Costco Wholesale worth $354,775,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in COST. Synergy Investment Management LLC purchased a new stake in Costco Wholesale in the fourth quarter worth about $31,000. NewSquare Capital LLC grew its stake in shares of Costco Wholesale by 250.0% during the 4th quarter. NewSquare Capital LLC now owns 35 shares of the retailer’s stock valued at $32,000 after acquiring an additional 25 shares during the period. Endeavor Private Wealth Inc. purchased a new stake in Costco Wholesale in the 4th quarter worth approximately $33,000. Collier Financial purchased a new position in Costco Wholesale during the fourth quarter valued at approximately $35,000. Finally, Barrett & Company Inc. increased its stake in shares of Costco Wholesale by 59.3% in the fourth quarter. Barrett & Company Inc. now owns 43 shares of the retailer’s stock worth $39,000 after purchasing an additional 16 shares in the last quarter. Institutional investors own 68.48% of the company’s stock.

Insiders Place Their Bets

In related news, EVP James C. Klauer sold 4,000 shares of the firm’s 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 transaction, the executive vice president now owns 43,994 shares of the company’s stock, valued at $43,161,193.58. This trade represents a 8.33 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Claudine Adamo sold 900 shares of the business’s stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $922.56, for a total transaction of $830,304.00. Following the completion of the sale, the executive vice president now directly owns 6,987 shares of the company’s stock, valued at approximately $6,445,926.72. This trade represents a 11.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 9,600 shares of company stock worth $9,140,195 over the last quarter. Company insiders own 0.18% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on COST. Truist Financial lifted 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. Robert W. Baird upped their price objective on Costco Wholesale from $1,075.00 to $1,125.00 and gave the stock an “outperform” rating in a research note on Friday, March 7th. Evercore ISI lifted their target price on Costco Wholesale from $1,050.00 to $1,070.00 and gave the company an “outperform” rating in a research note on Tuesday, March 11th. Stifel Nicolaus dropped their price target on Costco Wholesale from $1,075.00 to $1,035.00 and set a “buy” rating for the company in a research note on Thursday, March 20th. Finally, Loop Capital reduced their price objective on shares of Costco Wholesale from $1,150.00 to $1,045.00 and set a “buy” rating on the stock in a research report on Wednesday, April 9th. Ten research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $1,024.03.

Costco Wholesale Trading Up 2.2 %

COST stock opened at $979.23 on Wednesday. The firm’s fifty day simple moving average is $971.89 and its two-hundred day simple moving average is $954.07. The stock has a market capitalization of $434.47 billion, a price-to-earnings ratio of 57.50, a price-to-earnings-growth ratio of 6.15 and a beta of 0.95. 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 twelve month low of $714.41 and a twelve month high of $1,078.24.

Costco Wholesale (NASDAQ:COST) last posted its quarterly earnings data on Thursday, March 6th. The retailer reported $4.02 earnings per share for the quarter, missing analysts’ consensus estimates of $4.09 by ($0.07). The firm had revenue of $63.72 billion during the quarter, compared to analysts’ expectations of $63.02 billion. Costco Wholesale had a return on equity of 32.31% and a net margin of 2.93%. As a group, analysts anticipate that Costco Wholesale Co. will post 18.03 earnings per share for the current year.

Costco Wholesale Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 16th. Shareholders of record on Friday, May 2nd will be given a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 0.53%. The ex-dividend date is Friday, May 2nd. This is an increase from Costco Wholesale’s previous quarterly dividend of $1.16. Costco Wholesale’s dividend payout ratio is 30.36%.

Costco Wholesale Company 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.