Empowered Funds LLC Increases Stake in Costco Wholesale Corporation $COST

Key Points

• Empowered Funds LLC increased its stake in Costco Wholesale Corporation by 30.2% in the first quarter, holding 16,622 shares valued at approximately $15.7 million.
• Institutional investors collectively own 68.48% of Costco's stock, with recent purchases from various firms, including GAMMA Investing LLC, which raised its position by an extraordinary 106,402.1%.
• Costco recently announced a quarterly dividend of $1.30 per share, resulting in a 0.5% yield and a dividend payout ratio of 29.50%.

Empowered Funds LLC grew its position in shares of Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 30.2% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 16,622 shares of the retailer's stock after buying an additional 3,859 shares during the quarter. Empowered Funds LLC's holdings in Costco Wholesale were worth $15,721,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of COST. GAMMA Investing LLC raised its position in Costco Wholesale by 106,402.1% during the 1st quarter. GAMMA Investing LLC now owns 8,160,190 shares of the retailer's stock worth $7,717,744,000 after buying an additional 8,152,528 shares during the last quarter. Nuveen LLC purchased a new stake in Costco Wholesale during the first quarter worth about $3,461,159,000. Leigh Baldwin & CO. LLC acquired a new position in Costco Wholesale during the fourth quarter worth about $95,452,000. Vanguard Group Inc. grew its position in 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 buying an additional 443,101 shares during the period. Finally, National Bank of Canada FI increased its holdings in Costco Wholesale by 84.0% in the first quarter. National Bank of Canada FI now owns 812,188 shares of the retailer's stock valued at $768,114,000 after buying an additional 370,806 shares in the last quarter. Hedge funds and other institutional investors own 68.48% of the company's stock.

Insiders Place Their Bets

In related news, Director Susan L. Decker sold 547 shares of the firm's stock in a transaction that occurred on Wednesday, June 18th. The shares were sold at an average price of $980.00, for a total transaction of $536,060.00. Following the sale, the director owned 11,531 shares in the company, valued at approximately $11,300,380. This trade represents a 4.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Teresa A. Jones sold 600 shares of Costco Wholesale stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $992.05, for a total transaction of $595,230.00. Following the completion of the sale, the executive vice president directly owned 2,362 shares of the company's stock, valued at $2,343,222.10. The trade was a 20.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,147 shares of company stock valued at $5,031,130 in the last ninety days. Insiders own 0.18% of the company's stock.

Costco Wholesale Stock Performance

NASDAQ:COST opened at $971.85 on Tuesday. The company has a current ratio of 1.02, a quick ratio of 0.52 and a debt-to-equity ratio of 0.21. The firm has a 50-day moving average price of $961.87 and a two-hundred day moving average price of $976.25. Costco Wholesale Corporation has a twelve month low of $867.16 and a twelve month high of $1,078.23. The company has a market capitalization of $431.00 billion, a P/E ratio of 55.12, a price-to-earnings-growth ratio of 5.42 and a beta of 0.97.

Costco Wholesale Announces Dividend

The firm also recently announced 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%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on COST shares. Telsey Advisory Group restated an "outperform" rating and issued a $1,100.00 price target on shares of Costco Wholesale in a report on Wednesday, August 27th. JPMorgan Chase & Co. upped their target price on Costco Wholesale from $1,115.00 to $1,160.00 and gave the company an "overweight" rating in a report on Thursday, August 7th. Stifel Nicolaus set a $1,035.00 price target on Costco Wholesale in a research report on Thursday, May 29th. Morgan Stanley boosted their price objective 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. Finally, Truist Financial increased their price objective on shares of Costco Wholesale from $995.00 to $1,042.00 and gave the company a "hold" rating in a research note on Friday, May 30th. Seventeen analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $1,050.00.

About Costco Wholesale

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.

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