Coordinated Financial Services Inc. CO Makes New $1.20 Million Investment in Costco Wholesale Corporation $COST

Key Points

• Coordinated Financial Services Inc. purchased 1,266 shares of Costco Wholesale Corporation valued at approximately $1.198 million in the first quarter, marking a new position in the retailer's stock.
• During the first quarter, several institutional investors significantly increased their stakes in Costco, with GAMMA Investing LLC raising its holdings by over 106,402% to own more than 8 million shares valued at approximately $7.7 billion.
• Costco recently announced a quarterly dividend of $1.30 per share, with a current dividend yield of 0.5% and a payout ratio of 29.5%.

Coordinated Financial Services Inc. CO bought a new position in shares of Costco Wholesale Corporation (NASDAQ:COST - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,266 shares of the retailer's stock, valued at approximately $1,198,000.

Several other institutional investors have also recently added to or reduced their stakes in the business. UniSuper Management Pty Ltd lifted its stake in Costco Wholesale by 7.0% in the first quarter. UniSuper Management Pty Ltd now owns 26,037 shares of the retailer's stock valued at $24,625,000 after buying an additional 1,700 shares during the last quarter. United American Securities Inc. d b a UAS Asset Management lifted its stake in Costco Wholesale by 15.2% in the first quarter. United American Securities Inc. d b a UAS Asset Management now owns 43,461 shares of the retailer's stock valued at $41,105,000 after buying an additional 5,740 shares during the last quarter. Sepio Capital LP lifted its stake in Costco Wholesale by 3.1% in the first quarter. Sepio Capital LP now owns 5,399 shares of the retailer's stock valued at $5,106,000 after buying an additional 160 shares during the last quarter. Rise Advisors LLC lifted its stake in Costco Wholesale by 5.3% in the first quarter. Rise Advisors LLC now owns 781 shares of the retailer's stock valued at $739,000 after buying an additional 39 shares during the last quarter. Finally, Petrus Trust Company LTA purchased a new stake in Costco Wholesale in the first quarter valued at approximately $737,000. Hedge funds and other institutional investors own 68.48% of the company's stock.

Costco Wholesale Price Performance

NASDAQ:COST traded up $7.40 during trading hours on Tuesday, hitting $979.25. The company's stock had a trading volume of 1,495,242 shares, compared to its average volume of 1,972,492. The business's 50-day moving average is $961.87 and its two-hundred day moving average is $976.25. The company has a market capitalization of $434.28 billion, a PE ratio of 55.54, a PEG ratio of 5.47 and a beta of 0.97. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.52 and a current ratio of 1.02. Costco Wholesale Corporation has a 52-week low of $867.16 and a 52-week high of $1,078.23.

Costco Wholesale Announces Dividend

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

Analysts Set New Price Targets

COST has been the subject of a number of research reports. Telsey Advisory Group reiterated an "outperform" rating and issued a $1,100.00 price objective on shares of Costco Wholesale in a research note on Wednesday, August 27th. Loop Capital cut their price target on Costco Wholesale from $1,115.00 to $1,110.00 and set a "buy" rating for the company in a research note on Thursday, May 29th. Morgan Stanley upped their price target on Costco Wholesale from $1,150.00 to $1,225.00 and gave the stock an "overweight" rating in a research note on Friday, May 30th. Stifel Nicolaus set a $1,035.00 price target on Costco Wholesale in a research note on Thursday, May 29th. Finally, Erste Group Bank cut Costco Wholesale from a "buy" rating to a "hold" rating in a research note on Tuesday, August 5th. Seventeen analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $1,050.00.

Insider Buying and Selling at Costco Wholesale

In other Costco Wholesale news, EVP Teresa A. Jones sold 600 shares of the company's stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $992.05, for a total value of $595,230.00. Following the sale, the executive vice president owned 2,362 shares of the company's stock, valued at approximately $2,343,222.10. This 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 accessible through the SEC website. Also, EVP Yoram Rubanenko sold 4,000 shares of the company's stock in a transaction on Monday, July 14th. The shares were sold at an average price of $974.96, for a total value of $3,899,840.00. Following the completion of the sale, the executive vice president directly owned 5,774 shares in the company, valued at $5,629,419.04. This trade represents a 40.92% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 5,147 shares of company stock valued at $5,031,130. Insiders own 0.18% of the company's stock.

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.