EFG Asset Management North America Corp. Has $5.80 Million Stock Holdings in Costco Wholesale Corporation $COST

Key Points

• EFG Asset Management North America Corp. reduced its stake in Costco Wholesale Corporation by 13.6%, selling 966 shares and holding a total of 6,133 shares, valued at approximately $5.8 million.
• Costco recently announced a quarterly dividend of $1.30, which translates to an annualized payout of $5.20 and a dividend yield of 0.5%.
• Wall Street analysts have mixed sentiments on Costco, with ratings ranging from "Hold" to "Outperform," and a target price consensus of $1,050.

EFG Asset Management North America Corp. cut its stake in Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 13.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,133 shares of the retailer's stock after selling 966 shares during the period. Costco Wholesale accounts for 1.0% of EFG Asset Management North America Corp.'s portfolio, making the stock its 19th largest position. EFG Asset Management North America Corp.'s holdings in Costco Wholesale were worth $5,800,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently added to or reduced their stakes in the stock. GAMMA Investing LLC raised its holdings in shares of Costco Wholesale by 106,402.1% during the first quarter. GAMMA Investing LLC now owns 8,160,190 shares of the retailer's stock worth $7,717,744,000 after purchasing an additional 8,152,528 shares during the period. Nuveen LLC bought a new position in shares of Costco Wholesale during the first quarter worth about $3,461,159,000. Leigh Baldwin & CO. LLC bought a new position in shares of Costco Wholesale during the fourth quarter worth about $95,452,000. Vanguard Group Inc. grew its position in shares of Costco Wholesale by 1.0% during the first quarter. Vanguard Group Inc. now owns 42,644,711 shares of the retailer's stock worth $40,332,515,000 after acquiring an additional 443,101 shares during the last quarter. Finally, National Bank of Canada FI grew its position in shares of Costco Wholesale by 84.0% during the first quarter. National Bank of Canada FI now owns 812,188 shares of the retailer's stock worth $768,114,000 after acquiring an additional 370,806 shares during the last quarter. 68.48% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Costco Wholesale news, EVP Yoram Rubanenko sold 4,000 shares of the stock in a transaction that occurred 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 in the company, valued at $5,629,419.04. This trade represents a 40.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Patrick J. Callans sold 3,000 shares of the stock in a transaction that occurred on Monday, June 9th. The shares were 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 in the company, valued at approximately $58,705,164.11. This trade represents a 4.87% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 8,147 shares of company stock worth $8,039,440. 0.18% of the stock is currently owned by company insiders.

Costco Wholesale Stock Up 0.8%

NASDAQ:COST traded up $7.58 during mid-day trading on Friday, reaching $963.48. The stock had a trading volume of 1,926,561 shares, compared to its average volume of 2,013,209. The business's 50 day moving average is $962.23 and its 200 day moving average is $977.68. Costco Wholesale Corporation has a fifty-two week low of $867.16 and a fifty-two week high of $1,078.23. The stock has a market cap of $427.28 billion, a P/E ratio of 54.65, a PEG ratio of 5.36 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 Dividend Announcement

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

Analysts Set New Price Targets

COST has been the subject of several recent research reports. 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. Loop Capital reduced their price objective on shares of 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. JPMorgan Chase & Co. increased their price target on shares of Costco Wholesale from $1,115.00 to $1,160.00 and gave the stock an "overweight" rating in a research report on Thursday, August 7th. Wall Street Zen raised shares of Costco Wholesale from a "hold" rating to a "buy" rating in a research report on Friday, June 6th. Finally, Morgan Stanley increased their price target on shares of Costco Wholesale from $1,150.00 to $1,225.00 and gave the stock an "overweight" rating in a research report on Friday, May 30th. Seventeen analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $1,050.00.

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.