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

Meeder Asset Management Inc. increased its position in shares of Costco Wholesale Co. (NASDAQ:COST) by 419.2% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 47,480 shares of the retailer’s stock after purchasing an additional 38,335 shares during the quarter. Costco Wholesale accounts for 3.0% of Meeder Asset Management Inc.’s investment portfolio, making the stock its 9th biggest holding. Meeder Asset Management Inc.’s holdings in Costco Wholesale were worth $43,504,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. Synergy Investment Management LLC acquired a new position in shares of Costco Wholesale during the 4th quarter worth $31,000. NewSquare Capital LLC increased its holdings in 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 in the last quarter. Endeavor Private Wealth Inc. acquired a new position in Costco Wholesale during the fourth quarter worth about $33,000. Collier Financial purchased a new stake in shares of Costco Wholesale in the fourth quarter valued at about $35,000. Finally, Barrett & Company Inc. grew its position in shares of Costco Wholesale by 59.3% in the fourth quarter. Barrett & Company Inc. now owns 43 shares of the retailer’s stock valued at $39,000 after purchasing an additional 16 shares during the last quarter. 68.48% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently issued reports on COST shares. Oppenheimer restated an “outperform” rating and set a $1,075.00 price objective (up from $980.00) on shares of Costco Wholesale in a research report on Tuesday, December 10th. Telsey Advisory Group reissued an “outperform” rating and issued a $1,100.00 price target on shares of Costco Wholesale in a report on Monday, March 3rd. Citigroup increased their price objective on Costco Wholesale from $800.00 to $1,060.00 and gave the company a “neutral” rating in a research note on Wednesday, December 18th. Morgan Stanley boosted their target price on shares of Costco Wholesale from $950.00 to $1,150.00 and gave the company an “overweight” rating in a research note on Friday, December 13th. Finally, Sanford C. Bernstein restated an “outperform” rating on shares of Costco Wholesale in a report on Friday, March 7th. Nine equities research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $1,029.00.

Insiders Place Their Bets

In other news, EVP Gary Millerchip sold 1,100 shares of the business’s stock in a transaction on Thursday, March 27th. The shares were sold at an average price of $940.01, for a total transaction of $1,034,011.00. Following the transaction, the executive vice president now directly owns 11,165 shares of the company’s stock, valued at approximately $10,495,211.65. The trade was a 8.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Claudine Adamo sold 900 shares of the firm’s stock in a transaction on Monday, March 24th. The shares were sold at an average price of $922.56, for a total transaction of $830,304.00. Following the sale, the executive vice president now directly owns 6,987 shares of the company’s stock, valued at approximately $6,445,926.72. The trade was a 11.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,600 shares of company stock worth $5,215,915 in the last 90 days. 0.18% of the stock is owned by company insiders.

Costco Wholesale Price Performance

Costco Wholesale stock opened at $929.66 on Monday. The company has a quick ratio of 0.43, a current ratio of 0.98 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $412.47 billion, a P/E ratio of 54.59, a PEG ratio of 6.15 and a beta of 0.82. The firm has a fifty day moving average of $988.07 and a 200-day moving average of $946.86. Costco Wholesale Co. has a 52-week low of $697.27 and a 52-week high of $1,078.24.

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

Costco Wholesale Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 21st. Investors of record on Friday, February 7th were given a dividend of $1.16 per share. This represents a $4.64 annualized dividend and a yield of 0.50%. The ex-dividend date was Friday, February 7th. Costco Wholesale’s dividend payout ratio (DPR) is presently 27.09%.

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.