Arrowroot Family Office LLC Invests $1.68 Million in Costco Wholesale Corporation $COST

Arrowroot Family Office LLC bought a new position in shares of Costco Wholesale Corporation (NASDAQ:COST) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,697 shares of the retailer’s stock, valued at approximately $1,679,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Ring Mountain Capital LLC lifted its position in Costco Wholesale by 7.5% in the second quarter. Ring Mountain Capital LLC now owns 431 shares of the retailer’s stock valued at $410,000 after purchasing an additional 30 shares during the period. Main Street Research LLC lifted its position in Costco Wholesale by 1.4% in the second quarter. Main Street Research LLC now owns 62,849 shares of the retailer’s stock valued at $62,216,000 after purchasing an additional 894 shares during the period. Corps Capital Advisors LLC lifted its position in Costco Wholesale by 3.2% in the second quarter. Corps Capital Advisors LLC now owns 1,597 shares of the retailer’s stock valued at $1,581,000 after purchasing an additional 50 shares during the period. Dillon & Associates Inc. lifted its position in Costco Wholesale by 14.9% in the second quarter. Dillon & Associates Inc. now owns 11,421 shares of the retailer’s stock valued at $11,307,000 after purchasing an additional 1,481 shares during the period. Finally, Cassaday & Co Wealth Management LLC lifted its position in Costco Wholesale by 0.3% in the second quarter. Cassaday & Co Wealth Management LLC now owns 9,237 shares of the retailer’s stock valued at $9,144,000 after purchasing an additional 27 shares during the period. Institutional investors and hedge funds own 68.48% of the company’s stock.

Costco Wholesale Trading Up 1.4%

Shares of COST opened at $940.74 on Wednesday. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.03 and a quick ratio of 0.55. The firm has a 50 day simple moving average of $939.25 and a 200-day simple moving average of $969.58. Costco Wholesale Corporation has a 1-year low of $871.71 and a 1-year high of $1,078.23. The stock has a market cap of $416.92 billion, a price-to-earnings ratio of 51.66, a price-to-earnings-growth ratio of 5.54 and a beta of 0.98.

Costco Wholesale (NASDAQ:COST) last issued its quarterly earnings data on Thursday, September 25th. The retailer reported $5.87 earnings per share for the quarter, topping analysts’ consensus estimates of $5.81 by $0.06. Costco Wholesale had a net margin of 2.94% and a return on equity of 30.09%. The business had revenue of $86.16 billion during the quarter, compared to analysts’ expectations of $86.01 billion. During the same period last year, the company posted $5.15 EPS. The company’s revenue was up 8.1% on a year-over-year basis. Equities analysts forecast that Costco Wholesale Corporation will post 18.03 EPS for the current fiscal year.

Costco Wholesale Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Friday, October 31st will be paid a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend is Friday, October 31st. Costco Wholesale’s dividend payout ratio (DPR) is 28.56%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. JPMorgan Chase & Co. reduced their price objective on shares of Costco Wholesale from $1,160.00 to $1,050.00 and set an “overweight” rating for the company in a research report on Friday, September 26th. DA Davidson restated a “neutral” rating and issued a $1,000.00 price objective on shares of Costco Wholesale in a research report on Friday, September 26th. Erste Group Bank cut shares of Costco Wholesale from a “buy” rating to a “hold” rating in a report on Tuesday, August 5th. Daiwa Capital Markets reduced their price target on shares of Costco Wholesale from $1,005.00 to $947.00 and set a “neutral” rating for the company in a research report on Tuesday, September 30th. Finally, Oppenheimer reduced their price target on shares of Costco Wholesale from $1,130.00 to $1,050.00 and set an “outperform” rating for the company in a research report on Monday. Nineteen research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,064.85.

Insider Buying and Selling at Costco Wholesale

In other Costco Wholesale news, insider Tiffany Marie Barbre sold 1,239 shares of Costco Wholesale stock in a transaction that occurred on Friday, October 24th. The shares were sold at an average price of $934.62, for a total value of $1,157,994.18. Following the completion of the sale, the insider directly owned 5,155 shares of the company’s stock, valued at approximately $4,817,966.10. The trade was a 19.38% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Claudine Adamo sold 2,700 shares of the business’s stock in a transaction on Friday, October 24th. The shares were sold at an average price of $935.68, for a total value of $2,526,336.00. Following the completion of the transaction, the executive vice president owned 6,851 shares of the company’s stock, valued at $6,410,343.68. This trade represents a 28.27% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 7,920 shares of company stock valued at $7,373,175. Company insiders own 0.18% of the company’s stock.

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.