Federation des caisses Desjardins du Quebec Decreases Position in Costco Wholesale Corporation $COST

Key Points

• Federation des caisses Desjardins du Quebec reduced its stake in Costco Wholesale by 5.3%, holding 104,549 shares valued at approximately $98.88 million after the sale.
• Costco recently announced a quarterly dividend of $1.30 per share, with a yield of 0.6% and a payout ratio of 29.50%.
• Despite a slight drop of 0.2% in share price, Costco has received upgrades from multiple analysts, with a consensus rating of "Moderate Buy" and an average price target of $1,050.00.

Federation des caisses Desjardins du Quebec lessened its stake in shares of Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 5.3% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 104,549 shares of the retailer's stock after selling 5,820 shares during the period. Federation des caisses Desjardins du Quebec's holdings in Costco Wholesale were worth $98,882,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of COST. Investment Management Corp VA ADV purchased a new stake in Costco Wholesale in the fourth quarter valued at approximately $25,000. Aspect Partners LLC lifted its position in shares of Costco Wholesale by 24.4% in the first quarter. Aspect Partners LLC now owns 56 shares of the retailer's stock valued at $53,000 after acquiring an additional 11 shares in the last quarter. Capital A Wealth Management LLC purchased a new position in Costco Wholesale during the fourth quarter worth about $58,000. Mascagni Wealth Management Inc. purchased a new position in shares of Costco Wholesale in the 4th quarter worth about $59,000. Finally, Bank & Trust Co grew its stake in shares of Costco Wholesale by 20.4% in the first quarter. Bank & Trust Co now owns 65 shares of the retailer's stock valued at $61,000 after buying an additional 11 shares in the last quarter. 68.48% of the stock is owned by institutional investors and hedge funds.

Costco Wholesale Price Performance

COST traded up $10.96 during trading on Wednesday, hitting $949.78. 1,668,644 shares of the stock traded hands, compared to its average volume of 2,121,823. Costco Wholesale Corporation has a twelve month low of $867.16 and a twelve month high of $1,078.23. The company has a market cap of $421.21 billion, a price-to-earnings ratio of 53.87, a PEG ratio of 5.29 and a beta of 0.97. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.02 and a quick ratio of 0.52. The business has a 50 day moving average price of $963.20 and a 200 day moving average price of $979.12.

Costco Wholesale Dividend Announcement

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

Insiders Place Their Bets

In other news, EVP Teresa A. Jones sold 600 shares of the stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $992.05, for a total transaction of $595,230.00. Following the transaction, the executive vice president owned 2,362 shares of the company's stock, valued at $2,343,222.10. This represents a 20.26% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Patrick J. Callans sold 3,000 shares of the firm's stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $1,002.77, for a total transaction of $3,008,310.00. Following the completion of the transaction, the executive vice president directly owned 58,543 shares in the company, valued at approximately $58,705,164.11. The trade was a 4.87% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 10,147 shares of company stock valued at $10,067,740 over the last ninety days. 0.18% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Truist Financial lifted their target price on Costco Wholesale from $995.00 to $1,042.00 and gave the stock a "hold" rating in a research report on Friday, May 30th. Wall Street Zen upgraded Costco Wholesale from a "hold" rating to a "buy" rating in a report on Friday, June 6th. Loop Capital reduced their price target on Costco Wholesale from $1,115.00 to $1,110.00 and set a "buy" rating for the company in a research report on Thursday, May 29th. 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. Finally, Morgan Stanley upped their price objective on Costco Wholesale from $1,150.00 to $1,225.00 and gave the company an "overweight" rating in a research note on Friday, May 30th. Seventeen equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $1,050.00.

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.