Mesirow Financial Investment Management Inc. Grows Position in Costco Wholesale Corporation (NASDAQ:COST)

Key Points

• Mesirow Financial Investment Management Inc. increased its stake in Costco Wholesale by 5.0%, acquiring an additional 2,307 shares, bringing its total ownership to 48,291 shares valued at approximately $45.69 million.
• Costco Wholesale's stock reached a high of $934.57 after recently reporting earnings of $4.28 per share, beating estimates and achieving a revenue of $63.21 billion for the quarter.
• The company announced a quarterly dividend of $1.30 per share, with the ex-dividend date set for August 1st, reflecting a 0.56% dividend yield.

Mesirow Financial Investment Management Inc. grew its position in shares of Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 5.0% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 48,291 shares of the retailer's stock after purchasing an additional 2,307 shares during the period. Costco Wholesale makes up about 0.9% of Mesirow Financial Investment Management Inc.'s investment portfolio, making the stock its 22nd largest position. Mesirow Financial Investment Management Inc.'s holdings in Costco Wholesale were worth $45,688,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Investment Management Corp VA ADV acquired a new stake in shares of Costco Wholesale during the 4th quarter valued at approximately $25,000. Aspect Partners LLC lifted its position in shares of Costco Wholesale by 24.4% in the 1st quarter. Aspect Partners LLC now owns 56 shares of the retailer's stock worth $53,000 after buying an additional 11 shares during the last quarter. Capital A Wealth Management LLC acquired a new position in Costco Wholesale in the fourth quarter valued at approximately $58,000. Mascagni Wealth Management Inc. bought a new position in shares of Costco Wholesale during the fourth quarter valued at approximately $59,000. Finally, Bank & Trust Co raised its position 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 purchasing an additional 11 shares during the period. 68.48% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Costco Wholesale

In related news, EVP Pierre Riel sold 2,000 shares of Costco Wholesale stock in a transaction that occurred 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 directly owned 8,210 shares in the company, valued at approximately $8,326,171.50. The trade was a 19.59% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Yoram Rubanenko sold 4,000 shares of Costco Wholesale stock in a transaction dated 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 transaction, the executive vice president directly 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. Insiders sold 9,547 shares of company stock valued at $9,472,510 over the last quarter. 0.18% of the stock is currently owned by insiders.

Costco Wholesale Stock Down 0.8%

NASDAQ COST traded down $7.06 during trading hours on Wednesday, hitting $927.51. The company's stock had a trading volume of 1,682,635 shares, compared to its average volume of 1,941,458. The company has a market capitalization of $411.33 billion, a PE ratio of 52.61, a price-to-earnings-growth ratio of 5.81 and a beta of 0.97. 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 52 week low of $793.00 and a 52 week high of $1,078.23. The company's 50-day simple moving average is $986.03 and its two-hundred day simple moving average is $983.48.

Costco Wholesale (NASDAQ:COST - Get Free Report) last posted its earnings results on Thursday, May 29th. The retailer reported $4.28 earnings per share for the quarter, beating 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 for the quarter, compared to analyst estimates of $62.93 billion. During the same quarter last year, the company earned $3.78 earnings per share. The company's revenue for the quarter was up 8.0% on a year-over-year basis. Research analysts anticipate that Costco Wholesale Corporation will post 18.03 EPS for the current fiscal year.

Costco Wholesale Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Friday, August 1st will be paid a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 0.56%. The ex-dividend date of this dividend is Friday, August 1st. Costco Wholesale's payout ratio is 29.50%.

Analyst Ratings Changes

Several research firms have recently commented on COST. Truist Financial upped their price target on shares of 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 raised Costco Wholesale from a "hold" rating to a "buy" rating in a report on Friday, June 6th. Evercore ISI decreased their price objective on Costco Wholesale from $1,075.00 to $1,060.00 and set an "outperform" rating for the company in a report on Tuesday, June 17th. 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. Finally, Loop Capital decreased 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 note on Thursday, May 29th. Nine equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $1,037.48.

Costco Wholesale Company 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.