Alecta Tjanstepension Omsesidigt Reduces Holdings in Costco Wholesale Corporation $COST

Key Points

• Alecta Tjanstepension Omsesidigt has reduced its stake in Costco Wholesale Corporation by 6.2%, holding 140,000 shares valued at approximately $138.5 million after selling 9,200 shares in the second quarter.
• Several institutional investors, including Vanguard Group and GAMMA Investing LLC, have recently increased their stakes in Costco, indicating strong institutional interest in the company.
• Costco announced a quarterly dividend of $1.30 per share, reflecting a 0.5% yield, and has an average target price of $1,056.67 from analysts, with a consensus rating of "Moderate Buy."

Alecta Tjanstepension Omsesidigt lowered its position in Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 6.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 140,000 shares of the retailer's stock after selling 9,200 shares during the period. Alecta Tjanstepension Omsesidigt's holdings in Costco Wholesale were worth $138,496,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of COST. Personal CFO Solutions LLC lifted its holdings in Costco Wholesale by 12.4% during the 1st quarter. Personal CFO Solutions LLC now owns 1,519 shares of the retailer's stock worth $1,436,000 after buying an additional 167 shares in the last quarter. F&V Capital Management LLC acquired a new position in Costco Wholesale during the 1st quarter worth $236,000. Graybill Wealth Management LTD. acquired a new position in Costco Wholesale during the 1st quarter worth $3,095,000. Rossmore Private Capital lifted its holdings in Costco Wholesale by 0.9% during the 1st quarter. Rossmore Private Capital now owns 6,687 shares of the retailer's stock worth $6,325,000 after buying an additional 62 shares in the last quarter. Finally, Curat Global LLC acquired a new position in Costco Wholesale during the 1st quarter worth $241,000. Institutional investors own 68.48% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on COST shares. JPMorgan Chase & Co. lifted their target price 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. Erste Group Bank lowered shares of Costco Wholesale from a "buy" rating to a "hold" rating in a report on Tuesday, August 5th. Loop Capital decreased their price target 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. Morgan Stanley boosted their price target on shares of Costco Wholesale from $1,150.00 to $1,225.00 and gave the company an "overweight" rating in a report on Friday, May 30th. Finally, Evercore ISI reduced their target price 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 analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $1,056.67.

Insiders Place Their Bets

In other Costco Wholesale news, EVP Teresa A. Jones sold 600 shares of the firm's stock in a transaction on Wednesday, August 20th. The shares were 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 $2,343,222.10. This trade represents a 20.26% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Yoram Rubanenko sold 4,000 shares of the firm's stock in a transaction on Monday, July 14th. The stock was 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 directly owned 5,774 shares in the company, valued at approximately $5,629,419.04. This trade represents a 40.92% decrease in their position. The disclosure for this sale can be found here. 0.18% of the stock is owned by corporate insiders.

Costco Wholesale Stock Performance

Shares of COST stock traded down $10.67 during trading on Thursday, reaching $952.36. 1,855,446 shares of the company's stock traded hands, compared to its average volume of 1,930,810. The company has a market capitalization of $422.35 billion, a P/E ratio of 54.02, a PEG ratio of 5.42 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. The firm's 50-day moving average is $958.35 and its 200 day moving average is $972.82. Costco Wholesale Corporation has a 1 year low of $867.16 and a 1 year high of $1,078.23.

Costco Wholesale Dividend Announcement

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

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.