Axiom Investors LLC DE Sells 45,175 Shares of Costco Wholesale Corporation $COST

Key Points

• Axiom Investors LLC DE has reduced its stake in Costco Wholesale by 13.1% in the first quarter, now holding 300,641 shares valued at approximately $284.34 million.
• Costco announced a quarterly dividend of $1.30 per share, translating to an annualized yield of 0.5% and a payout ratio of 29.50%.
• Costco's stock has seen recent analyst upgrades, with a consensus rating of "Moderate Buy" and a target price averaging $1,050.00.

Axiom Investors LLC DE lessened its holdings in shares of Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 13.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 300,641 shares of the retailer's stock after selling 45,175 shares during the quarter. Costco Wholesale comprises 2.6% of Axiom Investors LLC DE's portfolio, making the stock its 14th biggest holding. Axiom Investors LLC DE owned 0.07% of Costco Wholesale worth $284,340,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the business. Doheny Asset Management CA boosted its stake in Costco Wholesale by 0.9% in the 1st quarter. Doheny Asset Management CA now owns 4,230 shares of the retailer's stock worth $4,001,000 after purchasing an additional 38 shares during the period. APG Asset Management N.V. boosted its position in shares of Costco Wholesale by 5.1% during the first quarter. APG Asset Management N.V. now owns 396,217 shares of the retailer's stock worth $346,912,000 after acquiring an additional 19,402 shares during the last quarter. Smartleaf Asset Management LLC boosted its position in shares of Costco Wholesale by 6.4% during the first quarter. Smartleaf Asset Management LLC now owns 6,259 shares of the retailer's stock worth $5,819,000 after acquiring an additional 379 shares during the last quarter. Biondo Investment Advisors LLC grew its stake in Costco Wholesale by 1.1% during the first quarter. Biondo Investment Advisors LLC now owns 15,383 shares of the retailer's stock valued at $14,548,000 after acquiring an additional 164 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its holdings in Costco Wholesale by 2.3% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 181,008 shares of the retailer's stock valued at $171,194,000 after acquiring an additional 3,989 shares during the last quarter. 68.48% of the stock is owned by hedge funds and other institutional investors.

Costco Wholesale Trading Up 0.9%

NASDAQ:COST traded up $8.18 during mid-day trading on Wednesday, hitting $949.52. 1,881,223 shares of the stock traded hands, compared to its average volume of 2,224,604. 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 52 week low of $867.16 and a 52 week high of $1,078.23. The stock has a market capitalization of $421.09 billion, a price-to-earnings ratio of 53.86, a PEG ratio of 5.85 and a beta of 0.96. The firm's 50 day moving average is $968.27 and its two-hundred day moving average is $983.59.

Costco Wholesale (NASDAQ:COST - Get Free Report) last announced its earnings results on Thursday, May 29th. The retailer reported $4.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.24 by $0.04. Costco Wholesale had a return on equity of 30.48% and a net margin of 2.92%.The business had revenue of $63.21 billion during the quarter, compared to analyst estimates of $62.93 billion. During the same quarter in the previous year, the business earned $3.78 earnings per share. The company's revenue for the quarter was up 8.0% compared to the same quarter last year. On average, equities research analysts predict that Costco Wholesale Corporation will post 18.03 earnings per share for the current year.

Costco Wholesale Dividend Announcement

The business also recently announced 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. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend was Friday, August 1st. Costco Wholesale's payout ratio is currently 29.50%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Truist Financial increased their price objective on shares of Costco Wholesale from $995.00 to $1,042.00 and gave the company a "hold" rating in a report on Friday, May 30th. Wall Street Zen upgraded Costco Wholesale from a "hold" rating to a "buy" rating in a report on Friday, June 6th. Loop Capital reduced their price objective on Costco Wholesale from $1,115.00 to $1,110.00 and set a "buy" rating on the stock in a research note on Thursday, May 29th. Stifel Nicolaus set a $1,035.00 target price on Costco Wholesale in a research report on Thursday, May 29th. Finally, Telsey Advisory Group restated an "outperform" rating and issued a $1,100.00 price target on shares of Costco Wholesale in a research report on Monday, August 4th. Seventeen research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $1,050.00.

Insider Transactions at Costco Wholesale

In related news, EVP Pierre Riel sold 2,000 shares of the firm's stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $1,014.15, for a total value of $2,028,300.00. Following the transaction, the executive vice president owned 8,210 shares of the company's stock, valued at $8,326,171.50. This trade represents a 19.59% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Patrick J. Callans sold 3,000 shares of the business's 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 directly 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 ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 10,147 shares of company stock valued at $10,067,740. 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.