Oak Ridge Investments LLC Has $18.86 Million Stake in Costco Wholesale Corporation (NASDAQ:COST)

Key Points

• Oak Ridge Investments LLC increased its stake in Costco Wholesale by 5.0%, owning nearly 20,000 shares valued at approximately $18.86 million, making Costco its 16th largest holding.
• Costco recently reported quarterly earnings of $4.28 per share, exceeding analysts' expectations, with revenues reaching $63.21 billion, reflecting an 8.0% year-over-year growth.
• The company declared a quarterly dividend of $1.30, leading to an annualized dividend of $5.20, with a total dividend payout ratio (DPR) of 29.50%.

Oak Ridge Investments LLC increased its stake in shares of Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 5.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,943 shares of the retailer's stock after purchasing an additional 956 shares during the quarter. Costco Wholesale comprises about 1.6% of Oak Ridge Investments LLC's portfolio, making the stock its 16th biggest position. Oak Ridge Investments LLC's holdings in Costco Wholesale were worth $18,862,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Vestmark Advisory Solutions Inc. lifted its holdings in Costco Wholesale by 79.0% in the first quarter. Vestmark Advisory Solutions Inc. now owns 8,902 shares of the retailer's stock valued at $8,419,000 after buying an additional 3,928 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its holdings in Costco Wholesale by 7.4% in the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 96,956 shares of the retailer's stock valued at $91,699,000 after buying an additional 6,700 shares during the period. Holderness Investments Co. lifted its holdings in Costco Wholesale by 0.3% in the first quarter. Holderness Investments Co. now owns 6,943 shares of the retailer's stock valued at $6,567,000 after buying an additional 19 shares during the period. Francis Financial Inc. acquired a new stake in Costco Wholesale in the first quarter worth $207,000. Finally, Leith Wheeler Investment Counsel Ltd. acquired a new stake in Costco Wholesale in the first quarter worth $612,000. 68.48% of the stock is owned by institutional investors.

Costco Wholesale Stock Down 0.3%

Costco Wholesale stock traded down $3.35 during mid-day trading on Friday, reaching $972.04. The company's stock had a trading volume of 1,637,627 shares, compared to its average volume of 2,147,194. The company has a market capitalization of $431.08 billion, a price-to-earnings ratio of 55.14, a price-to-earnings-growth ratio of 6.06 and a beta of 0.96. Costco Wholesale Corporation has a 12 month low of $867.16 and a 12 month high of $1,078.23. The business's 50 day simple moving average is $973.11 and its 200 day simple moving average is $985.83. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.52 and a current ratio of 1.02.

Costco Wholesale (NASDAQ:COST - Get Free Report) last announced its quarterly earnings data on Thursday, May 29th. The retailer reported $4.28 EPS for the quarter, beating analysts' consensus estimates of $4.24 by $0.04. Costco Wholesale had a net margin of 2.92% and a return on equity of 30.48%. The company had revenue of $63.21 billion during the quarter, compared to the consensus estimate of $62.93 billion. During the same quarter last year, the firm posted $3.78 EPS. The company's quarterly revenue was up 8.0% on a year-over-year basis. As a group, research analysts anticipate that Costco Wholesale Corporation will post 18.03 earnings per share for the current year.

Costco Wholesale Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Friday, August 1st will be given a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend is Friday, August 1st. Costco Wholesale's dividend payout ratio (DPR) is 29.50%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on COST shares. Truist Financial increased their target price on shares of Costco Wholesale from $995.00 to $1,042.00 and gave the stock a "hold" rating in a report on Friday, May 30th. JPMorgan Chase & Co. increased their target price on shares of Costco Wholesale from $1,115.00 to $1,160.00 and gave the stock an "overweight" rating in a report on Thursday, August 7th. Stifel Nicolaus set a $1,035.00 target price on shares of Costco Wholesale in a report on Thursday, May 29th. Loop Capital cut their target price on shares of Costco Wholesale from $1,115.00 to $1,110.00 and set a "buy" rating on the stock in a report on Thursday, May 29th. Finally, Morgan Stanley increased their target price on shares of Costco Wholesale from $1,150.00 to $1,225.00 and gave the stock an "overweight" rating in a report on Friday, May 30th. Ten analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat, Costco Wholesale has an average rating of "Moderate Buy" and a consensus target price of $1,050.00.

Insider Activity

In other news, Director Susan L. Decker sold 547 shares of Costco Wholesale stock in a transaction dated Wednesday, June 18th. The shares were sold at an average price of $980.00, for a total value of $536,060.00. Following the completion of the transaction, the director owned 11,531 shares of the company's stock, valued at $11,300,380. This trade represents a 4.53% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Pierre Riel sold 2,000 shares of the firm's stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $1,014.15, for a total transaction of $2,028,300.00. Following the sale, the executive vice president owned 8,210 shares of the company's stock, valued at approximately $8,326,171.50. This represents a 19.59% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 9,547 shares of company stock worth $9,472,510. Insiders own 0.18% of the company's stock.

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.