Stevens Capital Management LP Has $1.18 Million Position in Costco Wholesale Corporation (NASDAQ:COST)

Key Points

• Stevens Capital Management LP reduced its stake in Costco Wholesale by 70.2%, holding 1,242 shares worth approximately $1,175,000 after selling 2,921 shares in the first quarter.
• Costco announced a quarterly dividend of $1.30 per share, with a total annualized dividend of $5.20, reflecting a yield of 0.56% and a payout ratio of 29.50%.
• The stock has a current price of $933.80 and analysts anticipate Costco will post $18.03 earnings per share for the current fiscal year, with a consensus rating of "Moderate Buy".

Stevens Capital Management LP lessened its holdings in Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 70.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,242 shares of the retailer's stock after selling 2,921 shares during the period. Stevens Capital Management LP's holdings in Costco Wholesale were worth $1,175,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Investment Management Corp VA ADV bought a new position in Costco Wholesale in the 4th quarter valued at $25,000. Aspect Partners LLC boosted its holdings in Costco Wholesale by 24.4% in the 1st quarter. Aspect Partners LLC now owns 56 shares of the retailer's stock valued at $53,000 after purchasing an additional 11 shares during the period. Capital A Wealth Management LLC bought a new position in Costco Wholesale in the 4th quarter valued at $58,000. Mascagni Wealth Management Inc. bought a new position in Costco Wholesale in the 4th quarter valued at $59,000. Finally, Bank & Trust Co lifted its holdings 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 acquiring an additional 11 shares during the last quarter. Institutional investors and hedge funds own 68.48% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Stifel Nicolaus set a $1,035.00 price objective on shares of Costco Wholesale in a report on Thursday, May 29th. Evercore ISI decreased their price objective on shares of Costco Wholesale from $1,075.00 to $1,060.00 and set an "outperform" rating on the stock in a research report on Tuesday, June 17th. Morgan Stanley boosted their price objective on shares of Costco Wholesale from $1,150.00 to $1,225.00 and gave the company an "overweight" rating in a research report on Friday, May 30th. Truist Financial boosted their price target on shares of Costco Wholesale from $995.00 to $1,042.00 and gave the company a "hold" rating in a research report on Friday, May 30th. Finally, Loop Capital cut their price target 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. Nine research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $1,037.48.

Insider Transactions at Costco Wholesale

In other news, EVP Yoram Rubanenko sold 4,000 shares of the company's stock in a transaction on Monday, July 14th. The stock was sold at an average price of $974.96, for a total transaction of $3,899,840.00. Following the transaction, the executive vice president owned 5,774 shares of the company's stock, 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 SEC, which is available through this link. Also, Director Susan L. Decker sold 547 shares of the company's stock in a transaction on Wednesday, June 18th. The shares were sold at an average price of $980.00, for a total value of $536,060.00. Following the transaction, the director directly owned 11,531 shares in the company, valued at $11,300,380. This trade represents a 4.53% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 9,547 shares of company stock valued at $9,472,510. Company insiders own 0.18% of the company's stock.

Costco Wholesale Stock Performance

COST traded down $2.55 during trading hours on Monday, hitting $932.93. 754,711 shares of the stock were exchanged, compared to its average volume of 2,205,599. The stock has a 50-day simple moving average of $992.04 and a 200-day simple moving average of $984.23. Costco Wholesale Corporation has a 12 month low of $793.00 and a 12 month high of $1,078.23. The stock has a market cap of $413.73 billion, a price-to-earnings ratio of 52.92, a price-to-earnings-growth ratio of 5.82 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.

Costco Wholesale (NASDAQ:COST - Get Free Report) last issued its quarterly earnings results 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 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 period last year, the company earned $3.78 earnings per share. The company's quarterly revenue was up 8.0% compared to the same quarter last year. Analysts anticipate 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 given a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 0.56%. The ex-dividend date of this dividend is Friday, August 1st. Costco Wholesale's dividend payout ratio is currently 29.50%.

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.