Kestra Investment Management LLC Grows Position in Costco Wholesale Corporation $COST

Key Points

• Kestra Investment Management LLC increased its holdings in Costco Wholesale by 80.8%, now owning 1,454 shares valued at approximately $1.375 million as of their latest SEC filing.
• Several institutional investors have also adjusted their positions, with hedge funds owning 68.48% of Costco's stock, signaling significant institutional interest.
• Costco announced a quarterly dividend of $1.30 per share, resulting in an annualized dividend of $5.20 and a yield of 0.5%.

Kestra Investment Management LLC lifted its stake in shares of Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 80.8% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,454 shares of the retailer's stock after purchasing an additional 650 shares during the period. Kestra Investment Management LLC's holdings in Costco Wholesale were worth $1,375,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Investment Management Corp VA ADV bought a new stake in shares of Costco Wholesale during the 4th quarter worth approximately $25,000. Aspect Partners LLC raised its stake in shares of 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 purchasing an additional 11 shares in the last quarter. Capital A Wealth Management LLC acquired a new position in shares of Costco Wholesale during the 4th quarter worth approximately $58,000. Mascagni Wealth Management Inc. acquired a new position in shares of Costco Wholesale during the 4th quarter worth approximately $59,000. Finally, Bank & Trust Co increased its holdings in shares of 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 acquiring an additional 11 shares during the last quarter. Institutional investors own 68.48% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Truist Financial boosted their target price on Costco Wholesale from $995.00 to $1,042.00 and gave the stock a "hold" rating in a report on Friday, May 30th. Loop Capital decreased their target price on Costco Wholesale from $1,115.00 to $1,110.00 and set a "buy" rating on the stock in a report on Thursday, May 29th. Erste Group Bank lowered Costco Wholesale from a "buy" rating to a "hold" rating in a report on Tuesday, August 5th. Telsey Advisory Group reissued an "outperform" rating and set a $1,100.00 target price on shares of Costco Wholesale in a report on Wednesday, August 27th. Finally, Morgan Stanley boosted their target price on Costco Wholesale from $1,150.00 to $1,225.00 and gave the stock an "overweight" rating in a report on Friday, May 30th. Seventeen equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat.com, Costco Wholesale presently has an average rating of "Moderate Buy" and a consensus price target of $1,056.67.

Insider Activity

In other news, 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 transaction of $3,899,840.00. Following the completion of the sale, the executive vice president owned 5,774 shares in the company, valued at approximately $5,629,419.04. This trade represents a 40.92% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Susan L. Decker sold 547 shares of the stock in a transaction dated Wednesday, June 18th. The shares were sold at an average price of $980.00, for a total value of $536,060.00. Following the sale, the director owned 11,531 shares of the company's stock, valued at $11,300,380. This represents a 4.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 5,147 shares of company stock worth $5,031,130. 0.18% of the stock is currently owned by insiders.

Costco Wholesale Stock Down 2.3%

Shares of NASDAQ:COST traded down $22.96 during mid-day trading on Wednesday, hitting $956.29. 2,267,247 shares of the company traded hands, compared to its average volume of 2,201,672. The stock has a market cap of $424.10 billion, a P/E ratio of 54.24, a P/E/G ratio of 5.47 and a beta of 0.97. The stock has a 50-day moving average price of $961.73 and a two-hundred day moving average price of $976.27. The company has a current ratio of 1.02, a quick ratio of 0.52 and a debt-to-equity ratio of 0.21. Costco Wholesale Corporation has a 12-month low of $867.16 and a 12-month high of $1,078.23.

Costco Wholesale Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Friday, August 1st were issued a $1.30 dividend. The ex-dividend date of this dividend was Friday, August 1st. This represents a $5.20 annualized dividend and a dividend yield of 0.5%. Costco Wholesale's dividend payout ratio (DPR) is presently 29.50%.

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.