Costco Wholesale Corporation (NASDAQ:COST) Stock Holdings Trimmed by Allianz SE

Key Points

• Allianz SE has decreased its stake in Costco Wholesale Corporation by 6.4%, owning 20,919 shares valued at approximately $19.8 million as of the latest SEC filing.
• Despite Allianz's reduced position, several institutional investors such as FMR LLC and GAMMA Investing LLC have significantly increased their holdings in Costco, indicating strong institutional support for the stock.
• Costco announced a quarterly dividend of $1.30 to be paid on August 15, with a current annualized yield of 0.5% and a payout ratio of 29.5%.

Allianz SE reduced its stake in Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 6.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,919 shares of the retailer's stock after selling 1,438 shares during the quarter. Allianz SE's holdings in Costco Wholesale were worth $19,785,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in COST. Personal CFO Solutions LLC lifted its position in Costco Wholesale by 12.4% during the first 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 during the period. F&V Capital Management LLC purchased a new position in Costco Wholesale during the first quarter worth about $236,000. Graybill Wealth Management LTD. purchased a new position in Costco Wholesale during the first quarter worth about $3,095,000. Curat Global LLC purchased a new position in Costco Wholesale during the first quarter worth about $241,000. Finally, Gateway Wealth Partners LLC lifted its position in Costco Wholesale by 2.0% during the first quarter. Gateway Wealth Partners LLC now owns 1,380 shares of the retailer's stock worth $1,305,000 after buying an additional 27 shares during the period. 68.48% of the stock is currently owned by hedge funds and other institutional investors.

Costco Wholesale Stock Performance

Shares of COST traded up $2.85 during mid-day trading on Monday, hitting $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 market cap of $423.69 billion, a PE ratio of 54.19, a PEG ratio of 5.92 and a beta of 0.96. The company's fifty day simple moving average is $983.34 and its two-hundred day simple moving average is $984.69. The company has a quick ratio of 0.52, a current ratio of 1.02 and a debt-to-equity ratio of 0.21. Costco Wholesale Corporation has a fifty-two week low of $793.00 and a fifty-two week 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 EPS for the quarter, topping the consensus estimate of $4.24 by $0.04. The company had revenue of $63.21 billion during the quarter, compared to analyst estimates of $62.93 billion. Costco Wholesale had a return on equity of 30.48% and a net margin of 2.92%. The business's revenue was up 8.0% on a year-over-year basis. During the same quarter last year, the firm earned $3.78 EPS. On average, equities analysts expect that Costco Wholesale Corporation will post 18.03 earnings per share for the current year.

Costco Wholesale Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Friday, August 1st will be issued a $1.30 dividend. The ex-dividend date of this dividend is 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%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. Evercore ISI reduced their target price on Costco Wholesale from $1,075.00 to $1,060.00 and set an "outperform" rating on the stock in a research report on Tuesday, June 17th. 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. Wall Street Zen upgraded Costco Wholesale from a "hold" rating to a "buy" rating in a report on Friday, June 6th. Truist Financial raised their price objective on Costco Wholesale from $995.00 to $1,042.00 and gave the stock a "hold" rating in a report on Friday, May 30th. Finally, Loop Capital cut their price objective on Costco Wholesale from $1,115.00 to $1,110.00 and set a "buy" rating on the stock in a report on Thursday, May 29th. Nine research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $1,037.48.

Insider Buying and Selling

In related news, EVP Yoram Rubanenko sold 4,000 shares of the firm's stock in a transaction that occurred on Monday, July 14th. The stock was sold at an average price of $974.96, for a total value of $3,899,840.00. Following the sale, the executive vice president owned 5,774 shares of the company's stock, 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, EVP Pierre Riel sold 2,000 shares of the firm's stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $1,014.15, for a total value of $2,028,300.00. Following the completion of the sale, the executive vice president directly owned 8,210 shares in the company, valued at approximately $8,326,171.50. This trade represents a 19.59% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 9,547 shares of company stock worth $9,472,510. Company insiders own 0.18% of the company's stock.

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.