Alberta Investment Management Corp Grows Position in Costco Wholesale Corporation (NASDAQ:COST)

Key Points

• Alberta Investment Management Corp has increased its stake in Costco Wholesale Corporation by 14.8%, now owning 3,100 shares valued at approximately $2.93 million.
• Recent transactions by insiders include the sale of 3,000 shares by EVP Patrick J. Callans and 4,000 shares by EVP Yoram Rubanenko, leading to significant decreases in their ownership percentages.
• Costco has announced a quarterly dividend of $1.30 per share, with an upcoming ex-dividend date set for August 1st, representing an annualized yield of 0.5%.

Alberta Investment Management Corp lifted its stake in shares of Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 14.8% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,100 shares of the retailer's stock after purchasing an additional 400 shares during the quarter. Alberta Investment Management Corp's holdings in Costco Wholesale were worth $2,932,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Brighton Jones LLC lifted its stake in Costco Wholesale by 12.3% in the 4th quarter. Brighton Jones LLC now owns 19,825 shares of the retailer's stock valued at $18,165,000 after purchasing an additional 2,172 shares during the last quarter. Revolve Wealth Partners LLC grew its position in Costco Wholesale by 13.1% during the 4th quarter. Revolve Wealth Partners LLC now owns 1,123 shares of the retailer's stock worth $1,029,000 after acquiring an additional 130 shares during the last quarter. Bank Pictet & Cie Europe AG increased its holdings in Costco Wholesale by 45.0% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 117,254 shares of the retailer's stock worth $107,436,000 after purchasing an additional 36,384 shares in the last quarter. Highview Capital Management LLC DE raised its position in Costco Wholesale by 0.8% in the fourth quarter. Highview Capital Management LLC DE now owns 4,813 shares of the retailer's stock valued at $4,410,000 after purchasing an additional 40 shares during the last quarter. Finally, Hudson Value Partners LLC boosted its stake in shares of Costco Wholesale by 5.7% during the fourth quarter. Hudson Value Partners LLC now owns 8,501 shares of the retailer's stock valued at $7,789,000 after purchasing an additional 455 shares in the last quarter. Institutional investors and hedge funds own 68.48% of the company's stock.

Costco Wholesale Price Performance

Shares of COST traded up $2.85 during midday trading on Monday, reaching $955.37. The stock had a trading volume of 2,388,420 shares, compared to its average volume of 2,166,006. The company has a current ratio of 1.02, a quick ratio of 0.52 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $423.69 billion, a price-to-earnings ratio of 54.19, a price-to-earnings-growth ratio of 5.92 and a beta of 0.96. The company's 50-day moving average is $983.34 and its 200 day moving average is $984.69. Costco Wholesale Corporation has a 12-month low of $793.00 and a 12-month high of $1,078.23.

Costco Wholesale (NASDAQ:COST - Get Free Report) last issued its earnings results on Thursday, May 29th. The retailer reported $4.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.24 by $0.04. Costco Wholesale had a return on equity of 30.48% and a net margin of 2.92%. The business had revenue of $63.21 billion during the quarter, compared to analyst estimates of $62.93 billion. During the same quarter in the prior year, the firm earned $3.78 earnings per share. Costco Wholesale's revenue for the quarter was up 8.0% on a year-over-year basis. On average, equities analysts predict that Costco Wholesale Corporation will post 18.03 EPS for the current fiscal year.

Costco Wholesale Dividend Announcement

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

Insider Buying and Selling

In related news, EVP Yoram Rubanenko sold 4,000 shares of Costco Wholesale 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 transaction, the executive vice president directly owned 5,774 shares of the company's stock, valued at $5,629,419.04. The trade was a 40.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Pierre Riel sold 2,000 shares of the business's stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $1,014.15, for a total transaction of $2,028,300.00. Following the completion of the transaction, the executive vice president owned 8,210 shares in the company, valued at $8,326,171.50. The trade was a 19.59% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 9,547 shares of company stock valued at $9,472,510. 0.18% of the stock is owned by insiders.

Analyst Ratings Changes

Several research analysts have recently issued reports on COST shares. Wall Street Zen raised Costco Wholesale from a "hold" rating to a "buy" rating in a research note on Friday, June 6th. Mizuho began coverage on shares of Costco Wholesale in a report on Friday, April 11th. They set a "neutral" rating and a $975.00 price target on the stock. Telsey Advisory Group restated an "outperform" rating and issued a $1,100.00 price objective on shares of Costco Wholesale in a report on Monday. Loop Capital lowered their price objective on Costco Wholesale from $1,115.00 to $1,110.00 and set a "buy" rating for the company in a research report on Thursday, May 29th. Finally, Truist Financial boosted their price target on shares of Costco Wholesale from $995.00 to $1,042.00 and gave the stock a "hold" rating in a research report on Friday, May 30th. Nine research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $1,037.48.

Costco Wholesale 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.