Advisors Asset Management Inc. Purchases 2,493 Shares of Costco Wholesale Corporation $COST

Key Points

• Advisors Asset Management Inc. increased its stake in Costco Wholesale Corporation by 9.3%, acquiring an additional 2,493 shares for a total of 29,158 shares, valued at approximately $27.58 million.
• Costco declared a quarterly dividend of $1.30 per share, yielding 0.6%, with an annualized value of $5.20 and a payout ratio of 29.50%.
• Research analysts generally maintain a positive outlook on Costco, with a consensus rating of "Moderate Buy" and a price target averaging around $1,050.00, although some firms have recently adjusted their price objectives.

Advisors Asset Management Inc. raised its position in Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 9.3% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 29,158 shares of the retailer's stock after acquiring an additional 2,493 shares during the quarter. Costco Wholesale makes up about 0.5% of Advisors Asset Management Inc.'s holdings, making the stock its 23rd biggest holding. Advisors Asset Management Inc.'s holdings in Costco Wholesale were worth $27,577,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Investment Management Corp VA ADV purchased a new stake in shares of Costco Wholesale during the 4th quarter worth approximately $25,000. Aspect Partners LLC increased its stake in Costco Wholesale by 24.4% in the 1st quarter. Aspect Partners LLC now owns 56 shares of the retailer's stock valued at $53,000 after buying an additional 11 shares during the period. Capital A Wealth Management LLC acquired a new position in Costco Wholesale in the 4th quarter valued at $58,000. Mascagni Wealth Management Inc. acquired a new position in shares of Costco Wholesale during the 4th quarter worth $59,000. Finally, Bank & Trust Co grew its stake in shares of Costco Wholesale by 20.4% during the 1st quarter. Bank & Trust Co now owns 65 shares of the retailer's stock worth $61,000 after purchasing an additional 11 shares during the period. Hedge funds and other institutional investors own 68.48% of the company's stock.

Costco Wholesale Stock Up 0.8%

NASDAQ:COST traded up $7.58 on Friday, hitting $963.48. 1,926,561 shares of the company's stock traded hands, compared to its average volume of 2,013,209. The company has a market cap of $427.28 billion, a PE ratio of 54.65, a price-to-earnings-growth ratio of 5.36 and a beta of 0.97. The company has a current ratio of 1.02, a quick ratio of 0.52 and a debt-to-equity ratio of 0.21. Costco Wholesale Corporation has a 1 year low of $867.16 and a 1 year high of $1,078.23. The firm has a 50-day moving average price of $962.23 and a 200-day moving average price of $977.68.

Costco Wholesale Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Friday, August 1st were issued a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 0.5%. The ex-dividend date was Friday, August 1st. Costco Wholesale's payout ratio is currently 29.50%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on COST. Morgan Stanley boosted their price objective on shares of Costco Wholesale from $1,150.00 to $1,225.00 and gave the stock an "overweight" rating in a research report on Friday, May 30th. JPMorgan Chase & Co. upped their price objective on shares of Costco Wholesale from $1,115.00 to $1,160.00 and gave the company an "overweight" rating in a research note on Thursday, August 7th. Stifel Nicolaus set a $1,035.00 target price on shares of Costco Wholesale in a research report on Thursday, May 29th. Telsey Advisory Group reaffirmed an "outperform" rating and issued a $1,100.00 price objective on shares of Costco Wholesale in a research report on Wednesday, August 27th. Finally, Erste Group Bank downgraded shares of Costco Wholesale from a "buy" rating to a "hold" rating in a research report on Tuesday, August 5th. Seventeen research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $1,050.00.

Insider Buying and Selling

In related news, EVP Teresa A. Jones sold 600 shares of the business's stock in a transaction that occurred 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 completion of the sale, the executive vice president directly owned 2,362 shares in the company, valued at approximately $2,343,222.10. The trade was a 20.26% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Susan L. Decker sold 547 shares of Costco Wholesale stock in a transaction that occurred on Wednesday, June 18th. The stock was sold at an average price of $980.00, for a total value of $536,060.00. Following the completion of the transaction, the director directly owned 11,531 shares in the company, valued at approximately $11,300,380. This represents a 4.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 8,147 shares of company stock valued at $8,039,440 in the last quarter. Company insiders own 0.18% of the company's stock.

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.