Fjarde AP Fonden Fourth Swedish National Pension Fund Acquires 6,700 Shares of Costco Wholesale Corporation (NASDAQ:COST)

Key Points

• The Fjarde AP Fonden Fourth Swedish National Pension Fund increased its holdings in Costco Wholesale by 7.4%, owning a total of 96,956 shares valued at approximately $91.7 million after purchasing an additional 6,700 shares.
• Costco's latest earnings report showed a 4.28 EPS for the quarter, surpassing analysts' expectations, with revenue totaling $63.21 billion, which reflects an 8% increase from the previous year.
• The company declared a quarterly dividend of $1.30, with an annualized payout of $5.20, contributing to a dividend yield of 0.5% and a payout ratio of 29.5%.

Fjarde AP Fonden Fourth Swedish National Pension Fund grew its position in shares of Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 7.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 96,956 shares of the retailer's stock after buying an additional 6,700 shares during the period. Costco Wholesale accounts for 1.1% of Fjarde AP Fonden Fourth Swedish National Pension Fund's investment portfolio, making the stock its 17th largest position. Fjarde AP Fonden Fourth Swedish National Pension Fund's holdings in Costco Wholesale were worth $91,699,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the stock. Personal CFO Solutions LLC lifted its position in Costco Wholesale by 12.4% in the 1st quarter. Personal CFO Solutions LLC now owns 1,519 shares of the retailer's stock worth $1,436,000 after buying an additional 167 shares during the last quarter. F&V Capital Management LLC bought a new stake in shares of Costco Wholesale in the 1st quarter worth approximately $236,000. Graybill Wealth Management LTD. bought a new stake in Costco Wholesale during the 1st quarter valued at about $3,095,000. Rossmore Private Capital lifted its holdings in shares of Costco Wholesale by 0.9% during the first quarter. Rossmore Private Capital now owns 6,687 shares of the retailer's stock valued at $6,325,000 after purchasing an additional 62 shares in the last quarter. Finally, Curat Global LLC bought a new stake in Costco Wholesale in the 1st quarter worth approximately $241,000. Hedge funds and other institutional investors own 68.48% of the company's stock.

Analysts Set New Price Targets

Several analysts have issued reports on COST shares. Loop Capital cut their price target on Costco Wholesale from $1,115.00 to $1,110.00 and set a "buy" rating for the company in a report on Thursday, May 29th. Stifel Nicolaus set a $1,035.00 target price on Costco Wholesale in a research report on Thursday, May 29th. Evercore ISI reduced their target price on shares of Costco Wholesale from $1,075.00 to $1,060.00 and set an "outperform" rating on the stock in a research note on Tuesday, June 17th. JPMorgan Chase & Co. increased their price target on Costco Wholesale from $1,115.00 to $1,160.00 and gave the stock an "overweight" rating in a report on Thursday, August 7th. Finally, Telsey Advisory Group restated an "outperform" rating and issued a $1,100.00 price objective on shares of Costco Wholesale in a report on Monday, August 4th. Ten equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $1,050.00.

Costco Wholesale Stock Down 0.3%

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

Costco Wholesale (NASDAQ:COST - Get Free Report) last announced 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. The company had revenue of $63.21 billion during the quarter, compared to analyst estimates of $62.93 billion. Costco Wholesale had a return on equity of 30.48% and a net margin of 2.92%. The firm's revenue was up 8.0% on a year-over-year basis. During the same period in the prior year, the company earned $3.78 earnings per share. As a group, sell-side analysts anticipate that Costco Wholesale Corporation will post 18.03 earnings per share for the current fiscal year.

Costco Wholesale Dividend Announcement

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

Insider Transactions at Costco Wholesale

In other Costco Wholesale 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 directly owned 5,774 shares in the company, valued at $5,629,419.04. This represents a 40.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Patrick J. Callans sold 3,000 shares of Costco Wholesale stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $1,002.77, for a total value of $3,008,310.00. Following the sale, the executive vice president directly owned 58,543 shares of the company's stock, valued at $58,705,164.11. This trade represents a 4.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 9,547 shares of company stock valued at $9,472,510 in the last 90 days. Corporate insiders own 0.18% of the company's stock.

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.