Costco Wholesale Corporation (NASDAQ:COST) Shares Acquired by Assetmark Inc.

Key Points

• Assetmark Inc. increased its stake in Costco Wholesale by 11.5%, owning 47,148 shares worth approximately $44.59 million after acquiring additional shares in the 1st quarter.
• Multiple analysts have set new price targets for Costco shares, with Morgan Stanley raising its target from $1,150 to $1,225, while the consensus price target stands at $1,037.48.
• The company recently announced a $1.30 quarterly dividend to be paid on August 15, reflecting an annualized yield of 0.56% and a payout ratio of 29.50%.

Assetmark Inc. lifted its holdings in shares of Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 11.5% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 47,148 shares of the retailer's stock after acquiring an additional 4,846 shares during the period. Assetmark Inc.'s holdings in Costco Wholesale were worth $44,592,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Investment Management Corp VA ADV acquired a new position in Costco Wholesale during the fourth quarter worth approximately $25,000. Aspect Partners LLC increased its position 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 buying an additional 11 shares during the period. Capital A Wealth Management LLC acquired a new position in Costco Wholesale during the fourth quarter worth approximately $58,000. Mascagni Wealth Management Inc. purchased a new position in shares of Costco Wholesale in the 4th quarter valued at approximately $59,000. Finally, Bank & Trust Co grew 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 and hedge funds own 68.48% of the company's stock.

Analysts Set New Price Targets

Several research analysts have weighed in on COST shares. Stifel Nicolaus set a $1,035.00 target price on Costco Wholesale in a research note on Thursday, May 29th. Morgan Stanley lifted their target price 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. Telsey Advisory Group reiterated an "outperform" rating and issued a $1,100.00 target price on shares of Costco Wholesale in a research note on Thursday, July 10th. Mizuho started coverage on Costco Wholesale in a research note on Friday, April 11th. They issued a "neutral" rating and a $975.00 target price on the stock. Finally, Loop Capital lowered their target price on Costco Wholesale from $1,115.00 to $1,110.00 and set a "buy" rating on the stock in a research note on Thursday, May 29th. Nine analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $1,037.48.

Insiders Place Their Bets

In related news, Director Susan L. Decker sold 547 shares of the company's stock in a transaction 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 completion of the transaction, the director directly owned 11,531 shares in the company, valued at approximately $11,300,380. This represents a 4.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Pierre Riel sold 2,000 shares of the company's stock in a transaction on Friday, June 6th. The shares were sold at an average price of $1,014.15, for a total value of $2,028,300.00. Following the completion of the transaction, the executive vice president owned 8,210 shares of the company's stock, valued at $8,326,171.50. The trade was a 19.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 9,547 shares of company stock valued at $9,472,510. 0.18% of the stock is owned by company insiders.

Costco Wholesale Stock Performance

NASDAQ COST opened at $935.48 on Friday. Costco Wholesale Corporation has a fifty-two week low of $793.00 and a fifty-two week high of $1,078.23. The stock has a market cap of $414.87 billion, a price-to-earnings ratio of 53.06, a price-to-earnings-growth ratio of 5.81 and a beta of 0.97. The business has a fifty day moving average of $992.04 and a 200-day moving average of $983.45. 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 (NASDAQ:COST - Get Free Report) last released its quarterly earnings results on Thursday, May 29th. The retailer reported $4.28 earnings per share for the quarter, topping analysts' consensus estimates of $4.24 by $0.04. Costco Wholesale had a return on equity of 30.48% and a net margin of 2.92%. The company had revenue of $63.21 billion during the quarter, compared to analysts' expectations of $62.93 billion. During the same period in the previous year, the firm posted $3.78 earnings per share. The business's revenue for the quarter was up 8.0% compared to the same quarter last year. As a group, analysts predict that Costco Wholesale Corporation will post 18.03 earnings per share for the current fiscal year.

Costco Wholesale Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Friday, August 1st will be paid a $1.30 dividend. The ex-dividend date is Friday, August 1st. This represents a $5.20 annualized dividend and a yield of 0.56%. Costco Wholesale's payout ratio is currently 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.

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