Meeder Asset Management Inc. Buys 38,335 Shares of Costco Wholesale Co. (NASDAQ:COST)

Meeder Asset Management Inc. increased its stake in shares of Costco Wholesale Co. (NASDAQ:COST) by 419.2% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 47,480 shares of the retailer’s stock after purchasing an additional 38,335 shares during the period. Costco Wholesale makes up approximately 3.0% of Meeder Asset Management Inc.’s investment portfolio, making the stock its 9th largest position. Meeder Asset Management Inc.’s holdings in Costco Wholesale were worth $43,504,000 at the end of the most recent reporting period.

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

Insider Transactions at Costco Wholesale

In related news, EVP Gary Millerchip sold 1,100 shares of the firm’s stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $940.01, for a total value of $1,034,011.00. Following the completion of the sale, the executive vice president now owns 11,165 shares in the company, valued at $10,495,211.65. This trade represents a 8.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Roland Michael Vachris sold 3,600 shares of the business’s stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $931.00, for a total value of $3,351,600.00. Following the transaction, the chief executive officer now owns 41,077 shares in the company, valued at $38,242,687. The trade was a 8.06 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 5,600 shares of company stock worth $5,215,915. Company insiders own 0.18% of the company’s stock.

Costco Wholesale Stock Performance

NASDAQ COST opened at $929.66 on Monday. The firm has a market cap of $412.47 billion, a P/E ratio of 54.59, a P/E/G ratio of 6.15 and a beta of 0.82. Costco Wholesale Co. has a 52-week low of $697.27 and a 52-week high of $1,078.24. The business’s 50-day moving average price is $988.07 and its 200 day moving average price is $946.86. 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 (NASDAQ:COST) last announced its earnings results on Thursday, March 6th. The retailer reported $4.02 earnings per share for the quarter, missing the consensus estimate of $4.09 by ($0.07). Costco Wholesale had a net margin of 2.93% and a return on equity of 32.31%. The company had revenue of $63.72 billion during the quarter, compared to analysts’ expectations of $63.02 billion. On average, equities research analysts expect that Costco Wholesale Co. will post 18.03 earnings per share for the current year.

Costco Wholesale Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 21st. Shareholders of record on Friday, February 7th were given a dividend of $1.16 per share. The ex-dividend date was Friday, February 7th. This represents a $4.64 dividend on an annualized basis and a yield of 0.50%. Costco Wholesale’s payout ratio is currently 27.09%.

Wall Street Analysts Forecast Growth

COST has been the subject of several analyst reports. Evercore ISI boosted their target price on Costco Wholesale from $1,050.00 to $1,070.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 11th. Sanford C. Bernstein reissued an “outperform” rating on shares of Costco Wholesale in a research report on Friday, March 7th. Robert W. Baird raised their target price on shares of Costco Wholesale from $1,075.00 to $1,125.00 and gave the company an “outperform” rating in a report on Friday, March 7th. TD Cowen lifted their price target on shares of Costco Wholesale from $975.00 to $1,090.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Finally, Citigroup increased their price objective on shares of Costco Wholesale from $800.00 to $1,060.00 and gave the company a “neutral” rating in a research report on Wednesday, December 18th. Nine analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $1,029.00.

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.