Allstate Corp Has $14.28 Million Stock Position in Costco Wholesale Corporation $COST

Key Points

• Allstate Corp increased its position in Costco Wholesale by 14.8% in the first quarter, holding 15,100 shares worth approximately $14.28 million.
• Costco's recent earnings report showed an EPS of $4.28, surpassing estimates, with revenue of $63.21 billion reflecting an 8% year-over-year growth.
• The company announced a quarterly dividend of $1.30 per share, resulting in an annualized yield of 0.5%.

Allstate Corp grew its holdings in shares of Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 14.8% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 15,100 shares of the retailer's stock after acquiring an additional 1,945 shares during the period. Allstate Corp's holdings in Costco Wholesale were worth $14,281,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Investment Management Corp VA ADV acquired a new stake in shares of Costco Wholesale in the fourth quarter valued at about $25,000. Aspect Partners LLC raised its holdings in Costco Wholesale by 24.4% during the 1st quarter. Aspect Partners LLC now owns 56 shares of the retailer's stock worth $53,000 after purchasing an additional 11 shares during the last quarter. Capital A Wealth Management LLC acquired a new position in shares of Costco Wholesale in the 4th quarter worth approximately $58,000. Mascagni Wealth Management Inc. acquired a new position in shares of Costco Wholesale in the 4th quarter worth approximately $59,000. Finally, Bank & Trust Co boosted its stake 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 last quarter. Institutional investors own 68.48% of the company's stock.

Costco Wholesale Stock Performance

Shares of COST opened at $969.68 on Friday. Costco Wholesale Corporation has a one year low of $867.16 and a one year high of $1,078.23. The company has a market cap of $430.03 billion, a PE ratio of 55.00, a P/E/G ratio of 6.18 and a beta of 0.96. The stock has a 50-day moving average of $970.48 and a 200-day moving average of $985.89. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.02 and a quick ratio of 0.52.

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

Costco Wholesale Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Friday, August 1st were given a dividend of $1.30 per share. 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 payout ratio is presently 29.50%.

Insider Buying and Selling

In related news, EVP Yoram Rubanenko sold 4,000 shares of the business's stock in a transaction dated Monday, July 14th. The shares were sold at an average price of $974.96, for a total transaction of $3,899,840.00. Following the transaction, the executive vice president directly owned 5,774 shares in the company, valued at approximately $5,629,419.04. The trade was a 40.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Patrick J. Callans sold 3,000 shares of the stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $1,002.77, for a total transaction of $3,008,310.00. Following the completion of the sale, the executive vice president owned 58,543 shares of the company's stock, valued at approximately $58,705,164.11. This trade represents a 4.87% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 9,547 shares of company stock worth $9,472,510. 0.18% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Wall Street Zen raised shares of Costco Wholesale from a "hold" rating to a "buy" rating in a research note on Friday, June 6th. Stifel Nicolaus set a $1,035.00 price target on Costco Wholesale in a report on Thursday, May 29th. Telsey Advisory Group reissued an "outperform" rating and issued a $1,100.00 price objective on shares of Costco Wholesale in a research note on Monday, August 4th. Evercore ISI cut 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. Finally, JPMorgan Chase & Co. raised their target price on Costco Wholesale from $1,115.00 to $1,160.00 and gave the stock an "overweight" rating in a research note on Thursday, August 7th. Seventeen analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $1,050.00.

Costco Wholesale Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.