Voya Investment Management LLC Acquires 51,252 Shares of Costco Wholesale Corporation $COST

Key Points

• Voya Investment Management LLC increased its stake in Costco by 16.7%, acquiring an additional 51,252 shares, and now holds a total of 358,517 shares valued at approximately $339 million.
• Costco recently declared a $1.30 quarterly dividend, reflecting an annualized dividend of $5.20 and a yield of 0.5%, with a payout ratio of 29.50%.
• Analysts have a consensus rating of "Moderate Buy" for Costco, with an average price target of $1,056.67, as several firms adjust their ratings and price expectations for the stock.

Voya Investment Management LLC increased its stake in shares of Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 16.7% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 358,517 shares of the retailer's stock after purchasing an additional 51,252 shares during the period. Voya Investment Management LLC owned 0.08% of Costco Wholesale worth $339,078,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in COST. GAMMA Investing LLC lifted its holdings in Costco Wholesale by 106,402.1% during the 1st 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 in the last quarter. Nuveen LLC purchased a new stake in Costco Wholesale during the 1st quarter worth about $3,461,159,000. Vanguard Group Inc. lifted its holdings in Costco Wholesale by 1.0% during the 1st 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 in the last quarter. National Bank of Canada FI raised its holdings in shares of Costco Wholesale by 84.0% in the 1st quarter. National Bank of Canada FI now owns 812,188 shares of the retailer's stock valued at $768,114,000 after acquiring an additional 370,806 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Costco Wholesale in the 4th quarter valued at about $280,046,000. Hedge funds and other institutional investors own 68.48% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Truist Financial raised their price target on Costco Wholesale from $995.00 to $1,042.00 and gave the company a "hold" rating in a report on Friday, May 30th. Telsey Advisory Group reaffirmed an "outperform" rating and issued a $1,100.00 price target on shares of Costco Wholesale in a report on Wednesday, August 27th. Erste Group Bank cut Costco Wholesale from a "buy" rating to a "hold" rating in a report on Tuesday, August 5th. Morgan Stanley raised their price target on Costco Wholesale from $1,150.00 to $1,225.00 and gave the company an "overweight" rating in a report on Friday, May 30th. Finally, Wall Street Zen raised Costco Wholesale from a "hold" rating to a "buy" rating in a report on Friday, June 6th. Seventeen 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, the company currently has an average rating of "Moderate Buy" and an average target price of $1,056.67.

Insider Buying and Selling

In related news, EVP Teresa A. Jones sold 600 shares of the firm's stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $992.05, for a total transaction of $595,230.00. Following the transaction, the executive vice president directly owned 2,362 shares in the company, valued at $2,343,222.10. This trade represents a 20.26% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Susan L. Decker sold 547 shares of the firm's stock in a transaction that occurred on Wednesday, June 18th. The stock was sold at an average price of $980.00, for a total value of $536,060.00. Following the transaction, the director owned 11,531 shares in the company, valued at approximately $11,300,380. The trade was a 4.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 5,147 shares of company stock worth $5,031,130 in the last ninety days. 0.18% of the stock is owned by insiders.

Costco Wholesale Price Performance

Shares of NASDAQ COST traded up $3.58 during trading hours on Friday, reaching $967.90. 1,460,154 shares of the stock traded hands, compared to its average volume of 1,950,274. The company has a market capitalization of $429.24 billion, a P/E ratio of 54.90, a price-to-earnings-growth ratio of 5.43 and a beta of 0.97. The company has a quick ratio of 0.52, a current ratio of 1.02 and a debt-to-equity ratio of 0.21. Costco Wholesale Corporation has a 52-week low of $867.16 and a 52-week high of $1,078.23. The company's 50-day simple moving average is $960.40 and its two-hundred day simple moving average is $974.64.

Costco Wholesale Announces Dividend

The business also recently declared 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. This represents a $5.20 annualized dividend and a yield of 0.5%. The ex-dividend date was Friday, August 1st. Costco Wholesale's dividend payout ratio (DPR) is presently 29.50%.

Costco Wholesale 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.