1248 Management LLC Has $1.02 Million Position in Costco Wholesale Corporation $COST

Key Points

• 1248 Management LLC reduced its stake in Costco Wholesale by 44.7%, now owning 1,082 shares valued at approximately $1.02 million after a sell-off of 875 shares in the first quarter.
• Costco announced a quarterly dividend of $1.30 per share, with an annualized dividend yield of 0.5% and a payout ratio of 29.50%.
• Institutional investors now hold about 68.48% of Costco's stock, indicating strong support from large investment firms in the company.

1248 Management LLC lessened its stake in shares of Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 44.7% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,082 shares of the retailer's stock after selling 875 shares during the period. 1248 Management LLC's holdings in Costco Wholesale were worth $1,023,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of COST. Investment Management Corp VA ADV bought a new position in shares of Costco Wholesale in the fourth quarter valued at $25,000. Anderson Financial Strategies LLC lifted its stake in shares of Costco Wholesale by 900.0% in the first quarter. Anderson Financial Strategies LLC now owns 40 shares of the retailer's stock valued at $38,000 after buying an additional 36 shares in the last quarter. eCIO Inc. bought a new position in shares of Costco Wholesale in the first quarter valued at $48,000. Aspect Partners LLC lifted its stake in shares of Costco Wholesale by 24.4% in the first quarter. Aspect Partners LLC now owns 56 shares of the retailer's stock valued at $53,000 after buying an additional 11 shares in the last quarter. Finally, Capital A Wealth Management LLC bought a new position in shares of Costco Wholesale in the fourth quarter valued at $58,000. Institutional investors and hedge funds own 68.48% of the company's stock.

Costco Wholesale Stock Up 0.8%

Shares of NASDAQ COST opened at $964.32 on Friday. Costco Wholesale Corporation has a one year low of $867.16 and a one year high of $1,078.23. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.02 and a quick ratio of 0.52. The business's fifty day moving average price is $960.77 and its 200-day moving average price is $975.64. The stock has a market capitalization of $427.66 billion, a PE ratio of 54.70, a P/E/G ratio of 5.38 and a beta of 0.97.

Costco Wholesale Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Friday, August 1st were paid a $1.30 dividend. The ex-dividend date was Friday, August 1st. This represents a $5.20 annualized dividend and a dividend yield of 0.5%. Costco Wholesale's dividend payout ratio (DPR) is presently 29.50%.

Insider Transactions at Costco Wholesale

In other news, EVP Teresa A. Jones sold 600 shares of Costco Wholesale stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $992.05, for a total value of $595,230.00. Following the completion of the transaction, the executive vice president owned 2,362 shares in the company, valued at $2,343,222.10. This trade represents a 20.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Susan L. Decker sold 547 shares of Costco Wholesale stock in a transaction dated Wednesday, June 18th. The stock was sold at an average price of $980.00, for a total transaction of $536,060.00. Following the completion of the transaction, the director owned 11,531 shares of the company's stock, valued at $11,300,380. The trade was a 4.53% decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,147 shares of company stock worth $5,031,130 over the last quarter. Corporate insiders own 0.18% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Stifel Nicolaus set a $1,035.00 target price on Costco Wholesale in a research report on Thursday, May 29th. Wall Street Zen raised Costco Wholesale from a "hold" rating to a "buy" rating in a research report on Friday, June 6th. Telsey Advisory Group reissued an "outperform" rating and set a $1,100.00 price target on shares of Costco Wholesale in a research report on Wednesday, August 27th. JPMorgan Chase & Co. boosted their price target on shares of Costco Wholesale from $1,115.00 to $1,160.00 and gave the stock an "overweight" rating in a report on Thursday, August 7th. Finally, Morgan Stanley boosted their price target on shares of Costco Wholesale from $1,150.00 to $1,225.00 and gave the stock an "overweight" rating in a report on Friday, May 30th. Seventeen analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $1,056.67.

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.

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