Belmont Capital LLC Grows Position in Costco Wholesale Corporation $COST

Key Points

• Belmont Capital LLC significantly increased its holdings in Costco by 438.0% during the first quarter, acquiring a total of 1,076 shares valued at approximately $1,018,000.
• Institutional ownership of Costco stands at 68.48%, with other major investors such as Vanguard Group and GAMMA Investing LLC also boosting their stakes in the company.
• Costco declared a $1.30 quarterly dividend on August 15th, with an annualized dividend yield of 0.6%, indicating a healthy dividend payout ratio of 29.50%.

Belmont Capital LLC raised its holdings in shares of Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 438.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,076 shares of the retailer's stock after purchasing an additional 876 shares during the quarter. Belmont Capital LLC's holdings in Costco Wholesale were worth $1,018,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently modified their holdings of COST. Investment Management Corp VA ADV bought a new stake in shares of Costco Wholesale in the 4th quarter worth about $25,000. Aspect Partners LLC lifted its holdings in shares of Costco Wholesale by 24.4% in the 1st quarter. Aspect Partners LLC now owns 56 shares of the retailer's stock worth $53,000 after acquiring an additional 11 shares during the last quarter. Capital A Wealth Management LLC bought a new stake in shares of Costco Wholesale in the 4th quarter worth about $58,000. Mascagni Wealth Management Inc. bought a new stake in shares of Costco Wholesale in the 4th quarter worth about $59,000. Finally, Bank & Trust Co lifted its holdings in shares of Costco Wholesale by 20.4% in the 1st quarter. Bank & Trust Co now owns 65 shares of the retailer's stock worth $61,000 after acquiring an additional 11 shares during the last quarter. Institutional investors own 68.48% of the company's stock.

Costco Wholesale Stock Up 0.8%

Shares of NASDAQ:COST traded up $7.58 during trading hours 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 52 week low of $867.16 and a 52 week high of $1,078.23. 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 company has a market capitalization of $427.28 billion, a price-to-earnings ratio of 54.65, a P/E/G ratio of 5.36 and a beta of 0.97. The firm's fifty day moving average price is $962.23 and its 200 day moving average price is $977.68.

Costco Wholesale Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Friday, August 1st were paid a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 0.5%. The ex-dividend date was Friday, August 1st. Costco Wholesale's payout ratio is 29.50%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on COST. 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 report on Tuesday, June 17th. Loop Capital decreased their price objective on shares of Costco Wholesale from $1,115.00 to $1,110.00 and set a "buy" rating for the company in a report on Thursday, May 29th. Wall Street Zen upgraded shares of Costco Wholesale from a "hold" rating to a "buy" rating in a report on Friday, June 6th. Telsey Advisory Group reiterated an "outperform" rating and set a $1,100.00 price objective on shares of Costco Wholesale in a report on Wednesday, August 27th. Finally, 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 report 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's stock. According to data from MarketBeat.com, Costco Wholesale presently has an average rating of "Moderate Buy" and a consensus price target of $1,050.00.

Insider Activity

In related news, Director Susan L. Decker sold 547 shares of the business's stock in a transaction that occurred on Wednesday, June 18th. The shares were sold at an average price of $980.00, for a total transaction of $536,060.00. Following the completion of the transaction, the director owned 11,531 shares in the company, valued at $11,300,380. The trade was a 4.53% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Patrick J. Callans sold 3,000 shares of the business's stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $1,002.77, for a total transaction of $3,008,310.00. Following the transaction, 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. In the last 90 days, insiders have sold 8,147 shares of company stock worth $8,039,440. Insiders own 0.18% of the company's stock.

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.