Costco Wholesale Corporation $COST Shares Sold by DoubleLine ETF Adviser LP

Key Points

• DoubleLine ETF Adviser LP reduced its stake in Costco Wholesale by 23.9%, resulting in a position valued at approximately $7.63 million, which constitutes about 2.5% of its portfolio.
• Several large investors have recently changed their positions in Costco, with significant activity including new stakes and increased holdings from firms like Aspect Partners LLC and Capital A Wealth Management LLC.
• Costco announced a quarterly dividend of $1.30 per share, translating to an annualized yield of 0.5%, and its stock holds a market cap of $421.21 billion.

DoubleLine ETF Adviser LP lowered its stake in Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 23.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,066 shares of the retailer's stock after selling 2,533 shares during the quarter. Costco Wholesale makes up approximately 2.5% of DoubleLine ETF Adviser LP's investment portfolio, making the stock its 4th largest position. DoubleLine ETF Adviser LP's holdings in Costco Wholesale were worth $7,629,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in COST. Brighton Jones LLC grew its holdings in shares of Costco Wholesale by 12.3% during the fourth quarter. Brighton Jones LLC now owns 19,825 shares of the retailer's stock worth $18,165,000 after purchasing an additional 2,172 shares during the last quarter. Revolve Wealth Partners LLC grew its holdings in shares of Costco Wholesale by 13.1% during the fourth quarter. Revolve Wealth Partners LLC now owns 1,123 shares of the retailer's stock worth $1,029,000 after purchasing an additional 130 shares during the last quarter. Bank Pictet & Cie Europe AG grew its holdings in shares of Costco Wholesale by 45.0% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 117,254 shares of the retailer's stock worth $107,436,000 after purchasing an additional 36,384 shares during the last quarter. Highview Capital Management LLC DE raised its position in shares of Costco Wholesale by 0.8% during the fourth quarter. Highview Capital Management LLC DE now owns 4,813 shares of the retailer's stock worth $4,410,000 after acquiring an additional 40 shares during the last quarter. Finally, Schonfeld Strategic Advisors LLC raised its position in shares of Costco Wholesale by 168.7% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 1,056 shares of the retailer's stock worth $968,000 after acquiring an additional 663 shares during the last quarter. Institutional investors own 68.48% of the company's stock.

Wall Street Analyst Weigh In

COST has been the topic of several analyst reports. Morgan Stanley upped their target price on Costco Wholesale from $1,150.00 to $1,225.00 and gave the company an "overweight" rating in a report on Friday, May 30th. Erste Group Bank cut Costco Wholesale from a "buy" rating to a "hold" rating in a report on Tuesday, August 5th. Wall Street Zen upgraded Costco Wholesale from a "hold" rating to a "buy" rating in a report on Friday, June 6th. Evercore ISI reduced their target price on Costco Wholesale from $1,075.00 to $1,060.00 and set an "outperform" rating on the stock in a report on Tuesday, June 17th. Finally, Loop Capital reduced their target price on 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. Seventeen research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company's stock. According to MarketBeat.com, Costco Wholesale presently has an average rating of "Moderate Buy" and a consensus target price of $1,050.00.

Costco Wholesale Trading Up 0.8%

Shares of NASDAQ:COST traded up $7.58 during midday trading on Friday, reaching $963.48. The company's stock had a trading volume of 1,926,561 shares, compared to its average volume of 2,013,209. The firm has a market capitalization of $427.28 billion, a price-to-earnings ratio of 54.65, a PEG ratio of 5.40 and a beta of 0.97. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.52 and a current ratio of 1.02. The firm has a 50 day moving average price of $962.23 and a two-hundred day moving average price of $977.09. Costco Wholesale Corporation has a fifty-two week low of $867.16 and a fifty-two week high of $1,078.23.

Costco Wholesale Dividend Announcement

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

Insider Transactions at Costco Wholesale

In other Costco Wholesale news, EVP Teresa A. Jones sold 600 shares of the stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $992.05, for a total value of $595,230.00. Following the transaction, the executive vice president owned 2,362 shares in the company, valued at approximately $2,343,222.10. This represents a 20.26% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Susan L. Decker sold 547 shares of the stock in a transaction that occurred 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 owned 11,531 shares in the company, valued at approximately $11,300,380. The trade was a 4.53% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 8,147 shares of company stock worth $8,039,440 in the last three months. 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.