Algert Global LLC Increases Position in Costco Wholesale Corporation $COST

Key Points

• Algert Global LLC increased its stake in Costco Wholesale Corporation by 12.1% during the first quarter, now owning 8,919 shares valued at approximately $8.4 million.
• Costco plans to pay a quarterly dividend of $1.30 per share, with an annualized yield of 0.5% and a payout ratio of 29.50%.
• Recent analyst ratings show a mixed outlook for Costco, with 18 analysts recommending a buy and 10 rating the stock as a hold, reflecting a consensus price target of $1,050.

Algert Global LLC boosted its holdings in Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 12.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,919 shares of the retailer's stock after acquiring an additional 960 shares during the quarter. Algert Global LLC's holdings in Costco Wholesale were worth $8,435,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Investment Management Corp VA ADV acquired a new stake in Costco Wholesale during the 4th quarter worth about $25,000. Aspect Partners LLC increased its holdings in shares of 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 purchasing an additional 11 shares during the period. Capital A Wealth Management LLC acquired a new position in shares of Costco Wholesale in the 4th quarter valued at about $58,000. Mascagni Wealth Management Inc. acquired a new position in shares of Costco Wholesale in the 4th quarter valued at about $59,000. Finally, Bank & Trust Co increased its holdings in shares of Costco Wholesale by 20.4% in the 1st quarter. Bank & Trust Co now owns 65 shares of the retailer's stock valued at $61,000 after purchasing an additional 11 shares during the period. 68.48% of the stock is currently owned by institutional investors.

Costco Wholesale Stock Performance

Shares of NASDAQ COST traded up $13.11 during mid-day trading on Wednesday, hitting $993.96. The company had a trading volume of 1,444,387 shares, compared to its average volume of 2,202,402. The company has a market capitalization of $440.80 billion, a price-to-earnings ratio of 56.48, a P/E/G ratio of 6.09 and a beta of 0.96. Costco Wholesale Corporation has a 1 year low of $867.16 and a 1 year high of $1,078.23. 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 stock's 50-day moving average price is $971.19 and its 200-day moving average price is $986.09.

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

Costco Wholesale Dividend Announcement

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

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on COST. Evercore ISI dropped their target price on Costco Wholesale from $1,075.00 to $1,060.00 and set an "outperform" rating on the stock in a report on Tuesday, June 17th. Truist Financial boosted their price target on Costco Wholesale from $995.00 to $1,042.00 and gave the company a "hold" rating in a research note on Friday, May 30th. Wall Street Zen raised Costco Wholesale from a "hold" rating to a "buy" rating in a research note on Friday, June 6th. JPMorgan Chase & Co. boosted their price target on 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. Finally, Loop Capital lowered 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. Seventeen research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat.com, Costco Wholesale presently has an average rating of "Moderate Buy" and a consensus price target of $1,050.00.

Insider Transactions at Costco Wholesale

In other Costco Wholesale news, EVP Yoram Rubanenko sold 4,000 shares of the 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 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Susan L. Decker sold 547 shares of the firm's stock in a transaction 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 owned 11,531 shares in the company, valued at approximately $11,300,380. This trade represents a 4.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 9,547 shares of company stock worth $9,472,510 over the last 90 days. 0.18% of the stock is currently owned by insiders.

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.