Sciencast Management LP Makes New Investment in Costco Wholesale Corporation $COST

Key Points

• Sciencast Management LP acquired 1,710 shares of Costco Wholesale Corporation valued at approximately $1.6 million in Q1, reflecting growing institutional interest in the retailer.
• Costco recently paid a quarterly dividend of $1.30 per share, leading to an annualized dividend yield of 0.5% and a payout ratio of 29.5%.
• Analyst sentiment remains mostly positive, with a consensus rating of "Moderate Buy" and an average price target of $1,050.00 for Costco stock.

Sciencast Management LP purchased a new stake in Costco Wholesale Corporation (NASDAQ:COST - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 1,710 shares of the retailer's stock, valued at approximately $1,617,000.

Other large investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC grew its holdings in Costco Wholesale by 12.3% during the 4th quarter. Brighton Jones LLC now owns 19,825 shares of the retailer's stock worth $18,165,000 after acquiring an additional 2,172 shares in the last quarter. Revolve Wealth Partners LLC boosted its holdings in shares of Costco Wholesale by 13.1% in the 4th quarter. Revolve Wealth Partners LLC now owns 1,123 shares of the retailer's stock valued at $1,029,000 after buying an additional 130 shares in the last quarter. Bank Pictet & Cie Europe AG boosted its holdings in shares of Costco Wholesale by 45.0% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 117,254 shares of the retailer's stock valued at $107,436,000 after buying an additional 36,384 shares in the last quarter. Highview Capital Management LLC DE boosted its holdings in shares of Costco Wholesale by 0.8% in the 4th quarter. Highview Capital Management LLC DE now owns 4,813 shares of the retailer's stock valued at $4,410,000 after buying an additional 40 shares in the last quarter. Finally, Hudson Bay Capital Management LP boosted its holdings in shares of Costco Wholesale by 489.7% in the 4th quarter. Hudson Bay Capital Management LP now owns 5,066 shares of the retailer's stock valued at $4,642,000 after buying an additional 6,366 shares in the last quarter. 68.48% of the stock is owned by hedge funds and other institutional investors.

Costco Wholesale Stock Performance

Costco Wholesale stock traded up $6.67 during trading hours on Thursday, reaching $962.96. 950,037 shares of the stock were exchanged, compared to its average volume of 2,194,381. The firm's 50 day moving average is $961.21 and its 200 day moving average is $976.13. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.52 and a current ratio of 1.02. The stock has a market cap of $427.06 billion, a P/E ratio of 54.63, a P/E/G ratio of 5.51 and a beta of 0.97. 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 business also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Investors 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 29.50%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Erste Group Bank cut shares of Costco Wholesale from a "buy" rating to a "hold" rating in a report on Tuesday, August 5th. Loop Capital lowered their target price on shares of Costco Wholesale from $1,115.00 to $1,110.00 and set a "buy" rating for the company in a report on Thursday, May 29th. Wall Street Zen upgraded shares of Costco Wholesale from a "hold" rating to a "buy" rating in a research note on Friday, June 6th. JPMorgan Chase & Co. increased 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 research note on Thursday, August 7th. Finally, Evercore ISI decreased their price target on shares of Costco Wholesale from $1,075.00 to $1,060.00 and set an "outperform" rating for the company in a research note on Tuesday, June 17th. Seventeen equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $1,056.67.

Insider Activity at Costco Wholesale

In related news, EVP Teresa A. Jones sold 600 shares of the firm's 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 sale, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Yoram Rubanenko sold 4,000 shares of the firm's stock in a transaction dated Monday, July 14th. The shares were sold at an average price of $974.96, for a total transaction of $3,899,840.00. Following the completion of the sale, the executive vice president owned 5,774 shares of the company's stock, 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. Insiders sold 5,147 shares of company stock worth $5,031,130 over the last 90 days. Company 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.