Purus Wealth Management LLC Has $15.98 Million Stake in Costco Wholesale Corporation $COST

Purus Wealth Management LLC increased its stake in Costco Wholesale Corporation (NASDAQ:COST) by 2.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 16,139 shares of the retailer’s stock after purchasing an additional 413 shares during the period. Costco Wholesale makes up approximately 5.5% of Purus Wealth Management LLC’s portfolio, making the stock its 2nd biggest holding. Purus Wealth Management LLC’s holdings in Costco Wholesale were worth $15,976,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Corps Capital Advisors LLC raised its position in shares of Costco Wholesale by 0.7% during the 1st quarter. Corps Capital Advisors LLC now owns 1,547 shares of the retailer’s stock valued at $1,463,000 after buying an additional 10 shares in the last quarter. Covestor Ltd raised its position in Costco Wholesale by 8.6% during the first quarter. Covestor Ltd now owns 126 shares of the retailer’s stock valued at $119,000 after purchasing an additional 10 shares in the last quarter. Redwood Park Advisors LLC raised its position in Costco Wholesale by 6.8% during the first quarter. Redwood Park Advisors LLC now owns 173 shares of the retailer’s stock valued at $163,000 after purchasing an additional 11 shares in the last quarter. Luminist Capital LLC boosted its holdings in shares of Costco Wholesale by 9.4% in the 1st quarter. Luminist Capital LLC now owns 128 shares of the retailer’s stock worth $122,000 after purchasing an additional 11 shares in the last quarter. Finally, Birchbrook Inc. boosted its holdings in shares of Costco Wholesale by 2.5% in the 1st quarter. Birchbrook Inc. now owns 456 shares of the retailer’s stock worth $431,000 after purchasing an additional 11 shares in the last quarter. 68.48% of the stock is currently owned by institutional investors.

Insider Activity

In other news, EVP William Richard Wilcox sold 2,400 shares of the company’s stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $930.13, for a total value of $2,232,312.00. Following the sale, the executive vice president directly owned 2,000 shares of the company’s stock, valued at $1,860,260. This represents a 54.55% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Russell D. Miller sold 3,381 shares of the stock in a transaction dated Monday, September 29th. The stock was sold at an average price of $915.00, for a total transaction of $3,093,615.00. Following the completion of the transaction, the executive vice president owned 9,740 shares of the company’s stock, valued at approximately $8,912,100. The trade was a 25.77% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 10,320 shares of company stock worth $9,605,487. Company insiders own 0.18% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the company. Weiss Ratings restated a “buy (b-)” rating on shares of Costco Wholesale in a research report on Wednesday, October 8th. Daiwa Capital Markets lowered their price objective on shares of Costco Wholesale from $1,005.00 to $947.00 and set a “neutral” rating for the company in a report on Tuesday, September 30th. Truist Financial reduced their target price on shares of Costco Wholesale from $1,042.00 to $1,033.00 and set a “hold” rating on the stock in a report on Friday, September 26th. Jefferies Financial Group reiterated a “buy” rating on shares of Costco Wholesale in a research report on Thursday, October 9th. Finally, Evercore ISI lowered their price target on shares of Costco Wholesale from $1,060.00 to $1,025.00 and set an “outperform” rating for the company in a research note on Friday, September 26th. Nineteen investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $1,063.88.

Costco Wholesale Stock Down 1.1%

NASDAQ COST opened at $912.59 on Tuesday. The business’s 50-day moving average is $933.74 and its 200 day moving average is $965.75. The stock has a market capitalization of $404.44 billion, a PE ratio of 50.11, a PEG ratio of 5.54 and a beta of 0.98. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.03 and a quick ratio of 0.55. Costco Wholesale Corporation has a 1 year low of $871.71 and a 1 year high of $1,078.23.

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 return on equity of 30.09% and a net margin of 2.94%.The firm had revenue of $86.16 billion for the quarter, compared to analyst estimates of $86.01 billion. During the same period last year, the company earned $5.15 EPS. The business’s quarterly revenue was up 8.1% compared to the same quarter last year. Sell-side analysts forecast that Costco Wholesale Corporation will post 18.03 earnings per share for the current year.

Costco Wholesale Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 14th. Shareholders of record on Friday, October 31st were issued a dividend of $1.30 per share. The ex-dividend date was Friday, October 31st. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.6%. Costco Wholesale’s dividend payout ratio is 28.56%.

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.