IFM Investors Pty Ltd Purchases 2,493 Shares of Costco Wholesale Corporation $COST

Key Points

• IFM Investors Pty Ltd increased its stake in Costco by 3.1% during Q2, owning a total of 83,402 shares valued at approximately $82.56 million.
• Costco recently declared a quarterly dividend of $1.30 per share, representing a yield of 0.5% and a payout ratio of 29.50%.
• Seventeen analysts recommend Costco as a Buy, while the company has a consensus rating of "Moderate Buy" with an average price target of $1,056.67.

IFM Investors Pty Ltd lifted its position in shares of Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 3.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 83,402 shares of the retailer's stock after acquiring an additional 2,493 shares during the quarter. Costco Wholesale accounts for about 0.8% of IFM Investors Pty Ltd's holdings, making the stock its 17th biggest position. IFM Investors Pty Ltd's holdings in Costco Wholesale were worth $82,563,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of COST. Brighton Jones LLC raised its stake in shares of Costco Wholesale by 12.3% in the 4th quarter. Brighton Jones LLC now owns 19,825 shares of the retailer's stock valued at $18,165,000 after purchasing an additional 2,172 shares in the last quarter. Revolve Wealth Partners LLC raised its holdings in shares of Costco Wholesale by 13.1% during the 4th quarter. Revolve Wealth Partners LLC now owns 1,123 shares of the retailer's stock valued at $1,029,000 after purchasing an additional 130 shares in the last quarter. Bank Pictet & Cie Europe AG grew its stake in Costco Wholesale by 45.0% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 117,254 shares of the retailer's stock valued at $107,436,000 after buying an additional 36,384 shares during the last quarter. Vise Technologies Inc. grew its position in Costco Wholesale by 77.0% in the 4th 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 during the last quarter. Finally, Stonebridge Financial Planning Group LLC boosted its position in shares of Costco Wholesale by 6.2% during the 4th quarter. Stonebridge Financial Planning Group LLC now owns 1,812 shares of the retailer's stock valued at $1,660,000 after acquiring an additional 105 shares in the last quarter. 68.48% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, EVP Teresa A. Jones sold 600 shares of Costco Wholesale stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $992.05, for a total transaction of $595,230.00. Following the sale, the executive vice president directly owned 2,362 shares of the company's stock, valued at approximately $2,343,222.10. The trade was a 20.26% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Yoram Rubanenko sold 4,000 shares of Costco Wholesale stock in a transaction dated Monday, July 14th. The stock was sold at an average price of $974.96, for a total value 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 disclosure for this sale can be found here. Corporate insiders own 0.18% of the company's stock.

Costco Wholesale Price Performance

COST traded down $6.88 during trading on Tuesday, hitting $936.39. The company's stock had a trading volume of 753,996 shares, compared to its average volume of 2,195,739. Costco Wholesale Corporation has a twelve month low of $867.16 and a twelve month high of $1,078.23. The firm has a market capitalization of $415.27 billion, a price-to-earnings ratio of 53.17, a P/E/G ratio of 5.34 and a beta of 0.97. The company has a current ratio of 1.02, a quick ratio of 0.52 and a debt-to-equity ratio of 0.21. The business's fifty day simple moving average is $957.21 and its 200 day simple moving average is $971.17.

Costco Wholesale Dividend Announcement

The firm 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 0.6%. The ex-dividend date of this dividend was Friday, August 1st. Costco Wholesale's dividend payout ratio is 29.50%.

Analyst Upgrades and Downgrades

COST has been the subject of a number of recent research reports. Erste Group Bank downgraded shares of Costco Wholesale from a "buy" rating to a "hold" rating in a research note on Tuesday, August 5th. Evercore ISI reduced their price objective on shares of 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 restated an "outperform" rating and set a $1,100.00 price target on shares of Costco Wholesale in a report on Wednesday, August 27th. JPMorgan Chase & Co. lifted their price target 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, Wolfe Research initiated coverage on Costco Wholesale in a research note on Thursday, September 18th. They issued a "peer perform" rating on the stock. Seventeen research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $1,061.30.

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.