AQR Capital Management LLC Boosts Position in Costco Wholesale Corporation $COST

Key Points

• AQR Capital Management LLC increased its stake in Costco Wholesale Corporation by 45.3%, now owning approximately 439,093 shares valued at $408.37 million.
• Recent analyst reports show a mixed outlook for Costco, with target price adjustments ranging from a drop to a high of $1,225 by Morgan Stanley and a consensus rating of "Moderate Buy."
• Costco declared a quarterly dividend of $1.30 per share, representing a 0.6% dividend yield, with a payout ratio of 29.5%.

AQR Capital Management LLC boosted its position in shares of Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 45.3% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 439,093 shares of the retailer's stock after buying an additional 136,876 shares during the quarter. AQR Capital Management LLC owned 0.10% of Costco Wholesale worth $408,366,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Advisors Asset Management Inc. boosted its stake in shares of Costco Wholesale by 9.3% during the first quarter. Advisors Asset Management Inc. now owns 29,158 shares of the retailer's stock valued at $27,577,000 after purchasing an additional 2,493 shares during the period. Aprio Wealth Management LLC boosted its stake in shares of Costco Wholesale by 1.8% during the first quarter. Aprio Wealth Management LLC now owns 1,621 shares of the retailer's stock valued at $1,533,000 after purchasing an additional 28 shares during the period. Paragon Private Wealth Management LLC boosted its stake in shares of Costco Wholesale by 99.1% during the first quarter. Paragon Private Wealth Management LLC now owns 649 shares of the retailer's stock valued at $614,000 after purchasing an additional 323 shares during the period. Rench Wealth Management Inc. boosted its stake in shares of Costco Wholesale by 1.9% during the first quarter. Rench Wealth Management Inc. now owns 7,518 shares of the retailer's stock valued at $7,110,000 after purchasing an additional 140 shares during the period. Finally, Chiron Capital Management LLC purchased a new stake in shares of Costco Wholesale during the first quarter valued at $438,000. 68.48% of the stock is owned by hedge funds and other institutional investors.

Costco Wholesale Stock Performance

NASDAQ:COST traded up $7.58 during midday trading on Friday, hitting $963.48. The company's stock had a trading volume of 1,926,561 shares, compared to its average volume of 2,013,209. Costco Wholesale Corporation has a fifty-two week low of $867.16 and a fifty-two week high of $1,078.23. The firm's 50 day moving average is $962.23 and its 200-day moving average is $977.68. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.02 and a quick ratio of 0.52. The firm has a market cap of $427.28 billion, a P/E ratio of 54.65, a P/E/G ratio of 5.36 and a beta of 0.97.

Costco Wholesale Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Friday, August 1st were paid a dividend of $1.30 per share. 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 (DPR) is presently 29.50%.

Analyst Ratings Changes

A number of analysts have recently issued reports on COST shares. Loop Capital lowered their target price on shares of 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. Truist Financial upped their price objective on shares of Costco Wholesale from $995.00 to $1,042.00 and gave the stock a "hold" rating in a research note on Friday, May 30th. Erste Group Bank lowered shares of Costco Wholesale from a "buy" rating to a "hold" rating in a research note on Tuesday, August 5th. Stifel Nicolaus set a $1,035.00 price objective on shares of Costco Wholesale in a research note on Thursday, May 29th. Finally, Telsey Advisory Group reaffirmed an "outperform" rating and issued a $1,100.00 price objective on shares of Costco Wholesale in a research note on Wednesday, August 27th. Seventeen research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $1,050.00.

Insider Activity

In related news, EVP Teresa A. Jones sold 600 shares of Costco Wholesale 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 approximately $2,343,222.10. This trade represents a 20.26% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Patrick J. Callans sold 3,000 shares of the firm's stock in a transaction on Monday, June 9th. The shares were sold at an average price of $1,002.77, for a total value of $3,008,310.00. Following the completion of the transaction, the executive vice president owned 58,543 shares in the company, valued at $58,705,164.11. The trade was a 4.87% decrease in their position. The disclosure for this sale can be found here. Insiders sold 8,147 shares of company stock worth $8,039,440 over the last 90 days. 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.