AIA Group Ltd Buys 1,081 Shares of Costco Wholesale Corporation (NASDAQ:COST)

Key Points

• AIA Group Ltd increased its holdings in Costco Wholesale by 7.6% in the first quarter, bringing its total stake to $14,549,000.
• Costco announced a quarterly dividend of $1.30 per share, set to be paid on August 15th, reflecting a 0.5% dividend yield.
• Shares of Costco opened at $980.98, and the company recently reported quarterly earnings of $4.28 EPS, exceeding analyst expectations.

AIA Group Ltd boosted its stake in Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 7.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,383 shares of the retailer's stock after buying an additional 1,081 shares during the quarter. AIA Group Ltd's holdings in Costco Wholesale were worth $14,549,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. Financial Engines Advisors L.L.C. boosted its stake in Costco Wholesale by 17.6% in the 1st quarter. Financial Engines Advisors L.L.C. now owns 4,193 shares of the retailer's stock valued at $3,965,000 after buying an additional 629 shares in the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors boosted its stake in Costco Wholesale by 17.4% in the first quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors now owns 2,791 shares of the retailer's stock worth $2,664,000 after purchasing an additional 414 shares in the last quarter. Ballast Inc. boosted its stake in Costco Wholesale by 1.8% in the first quarter. Ballast Inc. now owns 3,005 shares of the retailer's stock worth $2,842,000 after purchasing an additional 54 shares in the last quarter. Maia Wealth LLC boosted its stake in Costco Wholesale by 7.5% in the first quarter. Maia Wealth LLC now owns 519 shares of the retailer's stock worth $509,000 after purchasing an additional 36 shares in the last quarter. Finally, Cove Private Wealth LLC boosted its stake in Costco Wholesale by 8.1% in the first quarter. Cove Private Wealth LLC now owns 2,156 shares of the retailer's stock worth $2,039,000 after purchasing an additional 161 shares in the last quarter. Institutional investors and hedge funds own 68.48% of the company's stock.

Costco Wholesale Trading Up 0.3%

Shares of Costco Wholesale stock traded up $2.51 during trading hours on Tuesday, hitting $991.25. The company's stock had a trading volume of 1,587,474 shares, compared to its average volume of 2,215,102. Costco Wholesale Corporation has a 12 month low of $856.16 and a 12 month high of $1,078.23. The stock has a 50 day moving average of $975.28 and a 200 day moving average of $985.81. The company has a market capitalization of $439.60 billion, a PE ratio of 56.23, a price-to-earnings-growth ratio of 6.15 and a beta of 0.96. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.02 and a quick ratio of 0.52.

Costco Wholesale (NASDAQ:COST - Get Free Report) last announced its quarterly earnings results on Thursday, May 29th. The retailer reported $4.28 earnings per share (EPS) for the quarter, topping the consensus estimate 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 the consensus estimate of $62.93 billion. During the same period in the prior year, the company earned $3.78 earnings per share. The company's revenue for the quarter was up 8.0% compared to the same quarter last year. Analysts predict that Costco Wholesale Corporation will post 18.03 earnings per share for the current year.

Costco Wholesale Announces Dividend

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

Analysts Set New Price Targets

A number of research firms have commented on COST. Telsey Advisory Group reissued an "outperform" rating and issued a $1,100.00 price objective on shares of Costco Wholesale in a research note on Monday, August 4th. Evercore ISI reduced their price objective on Costco Wholesale from $1,075.00 to $1,060.00 and set an "outperform" rating on the stock in a research note on Tuesday, June 17th. Wall Street Zen raised Costco Wholesale from a "hold" rating to a "buy" rating in a research note on Friday, June 6th. Truist Financial boosted their price objective on Costco Wholesale from $995.00 to $1,042.00 and gave the stock a "hold" rating in a research note on Friday, May 30th. Finally, Erste Group Bank lowered Costco Wholesale from a "buy" rating to a "hold" rating in a research note on Tuesday, August 5th. Ten analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $1,050.00.

Insiders Place Their Bets

In other Costco Wholesale news, EVP Yoram Rubanenko sold 4,000 shares of the stock in a transaction dated Monday, July 14th. The stock was 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 directly owned 5,774 shares in the company, valued at $5,629,419.04. This represents a 40.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Patrick J. Callans sold 3,000 shares of the stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $1,002.77, for a total value of $3,008,310.00. Following the transaction, the executive vice president owned 58,543 shares of the company's stock, valued at approximately $58,705,164.11. The trade was a 4.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 9,547 shares of company stock valued at $9,472,510 over the last ninety days. 0.18% of the stock is owned by insiders.

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.