Assenagon Asset Management S.A. Has $817.99 Million Stock Position in Costco Wholesale Corporation $COST

Key Points

• Assenagon Asset Management S.A. reduced its stake in Costco Wholesale Corporation by 31.4%, now holding 826,300 shares valued at approximately $817.99 million.
• Several large investors, including GAMMA Investing LLC and Nuveen LLC, have significantly increased their positions in Costco, indicating strong institutional interest.
• Wall Street analysts maintain an overall positive outlook on Costco, with a consensus price target of $1,056.67 and the majority rating it as a "Moderate Buy."

Assenagon Asset Management S.A. lowered its stake in Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 31.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 826,300 shares of the retailer's stock after selling 377,557 shares during the quarter. Costco Wholesale comprises about 1.2% of Assenagon Asset Management S.A.'s portfolio, making the stock its 14th biggest holding. Assenagon Asset Management S.A. owned about 0.19% of Costco Wholesale worth $817,987,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of COST. Brighton Jones LLC increased its stake in shares of Costco Wholesale by 12.3% during the fourth quarter. Brighton Jones LLC now owns 19,825 shares of the retailer's stock worth $18,165,000 after buying an additional 2,172 shares during the period. Revolve Wealth Partners LLC increased its stake in shares of Costco Wholesale by 13.1% during the fourth quarter. Revolve Wealth Partners LLC now owns 1,123 shares of the retailer's stock worth $1,029,000 after buying an additional 130 shares during the period. Bank Pictet & Cie Europe AG raised its holdings in Costco Wholesale by 45.0% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 117,254 shares of the retailer's stock worth $107,436,000 after purchasing an additional 36,384 shares in the last quarter. Vise Technologies Inc. raised its holdings in Costco Wholesale by 77.0% during the fourth quarter. Vise Technologies Inc. now owns 5,174 shares of the retailer's stock worth $4,741,000 after purchasing an additional 2,251 shares in the last quarter. Finally, Stonebridge Financial Planning Group LLC raised its holdings in Costco Wholesale by 6.2% during the fourth quarter. Stonebridge Financial Planning Group LLC now owns 1,812 shares of the retailer's stock worth $1,660,000 after purchasing an additional 105 shares in the last quarter. Institutional investors and hedge funds own 68.48% of the company's stock.

Insider Buying and Selling at Costco Wholesale

In related news, EVP Yoram Rubanenko sold 4,000 shares of the firm's stock in a transaction dated 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 completion of the transaction, the executive vice president owned 5,774 shares of the company's stock, valued at $5,629,419.04. This trade represents a 40.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Teresa A. Jones sold 600 shares of the firm's 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 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. Corporate insiders own 0.18% of the company's stock.

Wall Street Analysts Forecast Growth

COST has been the topic of a number of research analyst reports. Morgan Stanley raised their price objective on shares of Costco Wholesale from $1,150.00 to $1,225.00 and gave the stock an "overweight" rating in a report on Friday, May 30th. Wolfe Research began coverage on shares of Costco Wholesale in a report on Thursday, September 18th. They issued a "peer perform" rating on the stock. Stifel Nicolaus set a $1,035.00 target price on shares of Costco Wholesale in a report on Thursday, May 29th. JPMorgan Chase & Co. lifted their price objective on shares of Costco Wholesale from $1,115.00 to $1,160.00 and gave the company an "overweight" rating in a research report on Thursday, August 7th. Finally, Truist Financial boosted their target price on shares of Costco Wholesale from $995.00 to $1,042.00 and gave the stock a "hold" rating in a research report on Friday, May 30th. Seventeen equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company's stock. According to MarketBeat, Costco Wholesale currently has an average rating of "Moderate Buy" and a consensus price target of $1,061.30.

Costco Wholesale Stock Down 0.9%

Shares of Costco Wholesale stock traded down $8.41 on Tuesday, hitting $934.85. 840,541 shares of the company's stock traded hands, compared to its average volume of 2,196,446. The stock has a market cap of $414.59 billion, a P/E ratio of 53.01, a PEG ratio of 5.34 and a beta of 0.97. The company has a quick ratio of 0.52, a current ratio of 1.02 and a debt-to-equity ratio of 0.21. The firm's 50-day moving average is $957.21 and its 200 day moving average is $971.17. Costco Wholesale Corporation has a 52-week low of $867.16 and a 52-week high of $1,078.23.

Costco Wholesale Announces Dividend

The firm also recently declared 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 of this dividend was Friday, August 1st. This represents a $5.20 annualized dividend and a dividend yield of 0.6%. Costco Wholesale's dividend payout ratio is presently 29.50%.

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.