UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC Sells 57,532 Shares of Costco Wholesale Corporation $COST

Key Points

• UBS Asset Management decreased its stake in Costco by 1.8%, now holding approximately 3.2 million shares, worth about $3.05 billion, making it the 15th largest position in their portfolio.
• Several hedge funds increased their holdings in Costco during the 1st quarter, with Woodline Partners LP raising its stake by 40.9% and Zurich Insurance Group Ltd FI increasing its stake by 83.2%.
• Costco recently declared a $1.30 quarterly dividend, which translates to an annual yield of 0.5% and a payout ratio of 29.50%.

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC cut its holdings in Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 1.8% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,226,620 shares of the retailer's stock after selling 57,532 shares during the quarter. Costco Wholesale accounts for approximately 0.8% of UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC's investment portfolio, making the stock its 15th largest position. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned 0.73% of Costco Wholesale worth $3,051,673,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of COST. Investment Management Corp VA ADV purchased a new stake in shares of Costco Wholesale during the 4th quarter valued at about $25,000. Aspect Partners LLC increased its stake in Costco Wholesale by 24.4% during the first 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 purchased a new stake in Costco Wholesale during the fourth quarter valued at approximately $58,000. Mascagni Wealth Management Inc. purchased a new stake in Costco Wholesale during the fourth quarter valued at approximately $59,000. Finally, Bank & Trust Co lifted its stake in shares of Costco Wholesale by 20.4% in the 1st quarter. Bank & Trust Co now owns 65 shares of the retailer's stock valued at $61,000 after purchasing an additional 11 shares during the last quarter. Institutional investors own 68.48% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Morgan Stanley boosted their target price 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. Stifel Nicolaus set a $1,035.00 price objective on shares of Costco Wholesale in a research report on Thursday, May 29th. Telsey Advisory Group reissued an "outperform" rating and issued a $1,100.00 target price on shares of Costco Wholesale in a research note on Wednesday, August 27th. Evercore ISI dropped their price target on shares of Costco Wholesale from $1,075.00 to $1,060.00 and set an "outperform" rating for the company in a research note on Tuesday, June 17th. Finally, Truist Financial upped their price target on shares of Costco Wholesale from $995.00 to $1,042.00 and gave the company a "hold" rating in a report on Friday, May 30th. Seventeen investment 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, the company currently has an average rating of "Moderate Buy" and an average target price of $1,056.67.

Costco Wholesale Trading Up 0.4%

Shares of NASDAQ COST traded up $3.58 during mid-day trading on Friday, reaching $967.90. The company had a trading volume of 1,443,196 shares, compared to its average volume of 2,190,332. The stock has a market cap of $429.24 billion, a price-to-earnings ratio of 54.90, a price-to-earnings-growth ratio of 5.38 and a beta of 0.97. Costco Wholesale Corporation has a 52 week low of $867.16 and a 52 week high of $1,078.23. The business's 50-day moving average is $960.77 and its 200-day moving average is $975.64. 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 Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Friday, August 1st were paid a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date was Friday, August 1st. Costco Wholesale's dividend payout ratio is currently 29.50%.

Insider Transactions at Costco Wholesale

In other news, Director Susan L. Decker sold 547 shares of Costco Wholesale 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 sale, the director owned 11,531 shares of the company's stock, valued at approximately $11,300,380. The trade was a 4.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Yoram Rubanenko sold 4,000 shares of the business's stock in a transaction that occurred on Monday, July 14th. The shares were sold at an average price of $974.96, for a total value of $3,899,840.00. Following the completion of the sale, the executive vice president owned 5,774 shares of the company's stock, valued at $5,629,419.04. The trade was a 40.92% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 5,147 shares of company stock valued at $5,031,130. 0.18% of the stock is currently owned by company insiders.

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.