Ascent Group LLC Grows Holdings in Costco Wholesale Corporation $COST

Key Points

• Ascent Group LLC increased its stake in Costco Wholesale Corporation by 22.9%, acquiring an additional 2,500 shares, bringing its total to 13,426 shares valued at $12.7 million.
• Institutional investors now own 68.48% of Costco's stock, showing significant confidence in the retailer, amid various transactions reported by other hedge funds.
• Costco recently announced a quarterly dividend of $1.30 per share, with an annualized payout of $5.20, representing a yield of 0.5%.

Ascent Group LLC raised its holdings in Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 22.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,426 shares of the retailer's stock after buying an additional 2,500 shares during the quarter. Ascent Group LLC's holdings in Costco Wholesale were worth $12,698,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Brighton Jones LLC grew its holdings in Costco Wholesale by 12.3% in the fourth quarter. Brighton Jones LLC now owns 19,825 shares of the retailer's stock valued at $18,165,000 after purchasing an additional 2,172 shares during the period. Revolve Wealth Partners LLC grew its stake in shares of Costco Wholesale by 13.1% during the 4th quarter. Revolve Wealth Partners LLC now owns 1,123 shares of the retailer's stock valued at $1,029,000 after buying an additional 130 shares during the period. Bank Pictet & Cie Europe AG grew its stake in shares of Costco Wholesale by 45.0% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 117,254 shares of the retailer's stock valued at $107,436,000 after buying an additional 36,384 shares during the period. Highview Capital Management LLC DE grew its stake in shares of Costco Wholesale by 0.8% during the 4th quarter. Highview Capital Management LLC DE now owns 4,813 shares of the retailer's stock valued at $4,410,000 after buying an additional 40 shares during the period. Finally, Hudson Bay Capital Management LP grew its position in Costco Wholesale by 489.7% during the fourth quarter. Hudson Bay Capital Management LP now owns 5,066 shares of the retailer's stock valued at $4,642,000 after acquiring an additional 6,366 shares during the period. Hedge funds and other institutional investors own 68.48% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on COST. Morgan Stanley boosted their price target on Costco Wholesale from $1,150.00 to $1,225.00 and gave the company an "overweight" rating in a research report on Friday, May 30th. Erste Group Bank cut Costco Wholesale from a "buy" rating to a "hold" rating in a report on Tuesday, August 5th. Truist Financial boosted their target price on Costco Wholesale from $995.00 to $1,042.00 and gave the stock a "hold" rating in a report on Friday, May 30th. Evercore ISI decreased their price objective 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. Finally, JPMorgan Chase & Co. boosted their price objective on shares of 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 investment 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, Costco Wholesale has a consensus rating of "Moderate Buy" and a consensus target price of $1,050.00.

Insider Buying and Selling at Costco Wholesale

In other Costco Wholesale news, Director Susan L. Decker sold 547 shares of the company's stock in a transaction dated Wednesday, June 18th. The shares were sold at an average price of $980.00, for a total value of $536,060.00. Following the completion of the transaction, the director directly owned 11,531 shares of the company's stock, valued at $11,300,380. This represents a 4.53% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Teresa A. Jones sold 600 shares of the stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $992.05, for a total value of $595,230.00. Following the completion of the transaction, the executive vice president directly owned 2,362 shares of the company's stock, valued at $2,343,222.10. This represents a 20.26% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,147 shares of company stock valued at $5,031,130 in the last ninety days. Insiders own 0.18% of the company's stock.

Costco Wholesale Stock Up 0.8%

NASDAQ COST traded up $7.40 on Tuesday, reaching $979.25. The company had a trading volume of 1,495,242 shares, compared to its average volume of 1,972,492. The firm has a market capitalization of $434.28 billion, a PE ratio of 55.54, a P/E/G ratio of 5.47 and a beta of 0.97. The firm has a 50-day moving average of $961.73 and a 200-day moving average of $976.27. 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 Corporation has a 1 year low of $867.16 and a 1 year high of $1,078.23.

Costco Wholesale Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Friday, August 1st were paid a $1.30 dividend. The ex-dividend date 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 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.