Costco Wholesale Corporation $COST is Cardinal Capital Management's 3rd Largest Position

Key Points

• Cardinal Capital Management has reduced its holdings in Costco Wholesale Corporation by 1.7%, now owning 21,083 shares, which represents 3.1% of its overall portfolio.
• Costco has a market cap of $418.32 billion with a current stock price around $943.26, having a P/E ratio of 53.50 and a dividend yield of 0.6% following a recent quarterly dividend announcement.
• Several institutional investors have increased their stakes in Costco, with GAMMA Investing LLC raising its position by an astounding 106,402.1% in the first quarter.

Cardinal Capital Management cut its holdings in Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 1.7% in the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 21,083 shares of the retailer's stock after selling 360 shares during the quarter. Costco Wholesale comprises 3.1% of Cardinal Capital Management's holdings, making the stock its 3rd largest position. Cardinal Capital Management's holdings in Costco Wholesale were worth $20,871,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. GAMMA Investing LLC raised its stake in shares of Costco Wholesale by 106,402.1% in the first quarter. GAMMA Investing LLC now owns 8,160,190 shares of the retailer's stock worth $7,717,744,000 after purchasing an additional 8,152,528 shares during the last quarter. Nuveen LLC purchased a new position in shares of Costco Wholesale in the first quarter worth about $3,461,159,000. Kingstone Capital Partners Texas LLC raised its stake in shares of Costco Wholesale by 418,980.3% in the second quarter. Kingstone Capital Partners Texas LLC now owns 2,359,422 shares of the retailer's stock worth $2,335,686,000 after purchasing an additional 2,358,859 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Costco Wholesale by 1.0% in the first quarter. Vanguard Group Inc. now owns 42,644,711 shares of the retailer's stock worth $40,332,515,000 after purchasing an additional 443,101 shares during the last quarter. Finally, National Bank of Canada FI raised its stake in shares of Costco Wholesale by 84.0% in the first quarter. National Bank of Canada FI now owns 812,188 shares of the retailer's stock worth $768,114,000 after purchasing an additional 370,806 shares during the last quarter. 68.48% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, EVP Teresa A. Jones sold 600 shares of the firm's stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $992.05, for a total transaction of $595,230.00. Following the completion of the sale, the executive vice president owned 2,362 shares in the company, valued at $2,343,222.10. This trade represents a 20.26% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Yoram Rubanenko sold 4,000 shares of the firm's stock in a transaction that occurred on 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 sale, the executive vice president owned 5,774 shares of the company's stock, valued at $5,629,419.04. This represents a 40.92% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.18% of the company's stock.

Costco Wholesale Stock Performance

Shares of Costco Wholesale stock opened at $943.26 on Tuesday. Costco Wholesale Corporation has a one year low of $867.16 and a one year high of $1,078.23. The company has a market cap of $418.32 billion, a price-to-earnings ratio of 53.50, a PEG ratio of 5.34 and a beta of 0.97. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.52 and a current ratio of 1.02. The business's 50 day moving average price is $957.21 and its 200 day moving average price is $971.17.

Costco Wholesale Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Friday, August 1st were given a dividend of $1.30 per share. The ex-dividend date was Friday, August 1st. This represents a $5.20 dividend on an annualized basis and a yield of 0.6%. Costco Wholesale's dividend payout ratio (DPR) is presently 29.50%.

Analyst Ratings Changes

COST has been the subject of several research analyst reports. Truist Financial raised their price objective on Costco Wholesale from $995.00 to $1,042.00 and gave the stock a "hold" rating in a research note on Friday, May 30th. Telsey Advisory Group restated an "outperform" rating and issued a $1,100.00 price objective on shares of Costco Wholesale in a research note on Wednesday, August 27th. Wolfe Research started coverage on Costco Wholesale in a research note on Thursday, September 18th. They issued a "peer perform" rating for the company. Morgan Stanley lifted 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. Finally, Erste Group Bank cut Costco Wholesale from a "buy" rating to a "hold" rating in a research report on Tuesday, August 5th. Seventeen analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company's stock. According to MarketBeat.com, Costco Wholesale currently has an average rating of "Moderate Buy" and a consensus target price of $1,061.30.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.