Costco Wholesale Corporation $COST Holdings Raised by Brooklyn Investment Group

Key Points

• BROOKLYN INVESTMENT GROUP increased its stake in Costco Wholesale by 37.8%, owning a total of 4,500 shares valued at approximately $4.25 million, making Costco its 18th biggest holding.
• Costco reported earnings of $4.28 EPS for the last quarter, exceeding estimates, with a revenue of $63.21 billion, an increase of 8% year-over-year.
• Recently, Costco announced a quarterly dividend of $1.30 per share, reflecting an annual yield of 0.5% and a payout ratio of 29.5%.

Brooklyn Investment Group grew its holdings in Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 37.8% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 4,500 shares of the retailer's stock after acquiring an additional 1,235 shares during the quarter. Costco Wholesale comprises 0.9% of Brooklyn Investment Group's investment portfolio, making the stock its 18th biggest holding. Brooklyn Investment Group's holdings in Costco Wholesale were worth $4,255,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in COST. Investment Management Corp VA ADV purchased a new position in Costco Wholesale during the 4th quarter worth approximately $25,000. Aspect Partners LLC grew its stake in Costco Wholesale by 24.4% during the 1st quarter. Aspect Partners LLC now owns 56 shares of the retailer's stock worth $53,000 after buying an additional 11 shares during the last quarter. Capital A Wealth Management LLC purchased a new position in Costco Wholesale during the 4th quarter worth approximately $58,000. Mascagni Wealth Management Inc. purchased a new position in Costco Wholesale during the 4th quarter worth approximately $59,000. Finally, Bank & Trust Co grew its stake in Costco Wholesale by 20.4% during the 1st quarter. Bank & Trust Co now owns 65 shares of the retailer's stock worth $61,000 after buying an additional 11 shares during the last quarter. Hedge funds and other institutional investors own 68.48% of the company's stock.

Costco Wholesale Trading Up 1.4%

NASDAQ COST traded up $13.3130 during trading hours on Wednesday, hitting $994.1630. 1,640,546 shares of the company's stock were exchanged, compared to its average volume of 2,203,283. The business's 50 day moving average is $971.19 and its 200-day moving average is $986.09. Costco Wholesale Corporation has a 12-month low of $867.16 and a 12-month high of $1,078.23. The firm has a market capitalization of $440.89 billion, a P/E ratio of 56.39, a price-to-earnings-growth ratio of 6.09 and a beta of 0.96. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.52 and a current ratio of 1.02.

Costco Wholesale (NASDAQ:COST - Get Free Report) last announced its quarterly earnings results on Thursday, May 29th. The retailer reported $4.28 EPS for the quarter, topping the consensus estimate of $4.24 by $0.04. The company had revenue of $63.21 billion during the quarter, compared to analyst estimates of $62.93 billion. Costco Wholesale had a return on equity of 30.48% and a net margin of 2.92%.The firm's revenue was up 8.0% on a year-over-year basis. During the same period in the prior year, the firm posted $3.78 earnings per share. As a group, analysts anticipate that Costco Wholesale Corporation will post 18.03 EPS for the current fiscal year.

Costco Wholesale Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Friday, August 1st were issued 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 dividend payout ratio (DPR) is presently 29.50%.

Insider Buying and Selling

In related news, Director Susan L. Decker sold 547 shares of the firm's stock in a transaction dated Wednesday, June 18th. The stock was sold at an average price of $980.00, for a total transaction of $536,060.00. Following the sale, the director directly owned 11,531 shares in the company, valued at approximately $11,300,380. This trade represents a 4.53% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, 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 sale, the executive vice president owned 8,210 shares in the company, valued at approximately $8,326,171.50. The trade was a 19.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 9,547 shares of company stock valued at $9,472,510. Corporate insiders own 0.18% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Evercore ISI dropped their price target on Costco Wholesale from $1,075.00 to $1,060.00 and set an "outperform" rating on the stock in a research note on Tuesday, June 17th. Telsey Advisory Group reiterated an "outperform" rating and issued a $1,100.00 target price on shares of Costco Wholesale in a research note on Monday, August 4th. Wall Street Zen upgraded Costco Wholesale from a "hold" rating to a "buy" rating in a research note on Friday, June 6th. Erste Group Bank downgraded Costco Wholesale from a "buy" rating to a "hold" rating in a research note on Tuesday, August 5th. Finally, JPMorgan Chase & Co. lifted their target price on Costco Wholesale from $1,115.00 to $1,160.00 and gave the company an "overweight" rating in a research note on Thursday, August 7th. Seventeen research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat, Costco Wholesale presently has a consensus rating of "Moderate Buy" and a consensus price target of $1,050.00.

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.