Forsta AP Fonden Reduces Holdings in Costco Wholesale Corporation (NASDAQ:COST)

Forsta AP Fonden decreased its stake in shares of Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 1.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 121,400 shares of the retailer's stock after selling 2,300 shares during the period. Costco Wholesale makes up 0.9% of Forsta AP Fonden's investment portfolio, making the stock its 17th largest holding. Forsta AP Fonden's holdings in Costco Wholesale were worth $114,818,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also added to or reduced their stakes in COST. Vanguard Group Inc. lifted its stake in Costco Wholesale by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 42,644,711 shares of the retailer's stock worth $40,332,515,000 after purchasing an additional 443,101 shares in the last quarter. GAMMA Investing LLC boosted its position in Costco Wholesale by 106,402.1% in the 1st 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 in the last quarter. Northern Trust Corp lifted its position in shares of Costco Wholesale by 12.6% during the 4th quarter. Northern Trust Corp now owns 5,257,809 shares of the retailer's stock valued at $4,817,573,000 after buying an additional 587,303 shares in the last quarter. Capital World Investors raised its holdings in shares of Costco Wholesale by 0.5% during the fourth quarter. Capital World Investors now owns 3,990,957 shares of the retailer's stock valued at $3,656,828,000 after acquiring an additional 18,897 shares during the last quarter. Finally, Jennison Associates LLC grew its position in shares of Costco Wholesale by 3.9% in the first quarter. Jennison Associates LLC now owns 3,357,630 shares of the retailer's stock valued at $3,175,579,000 after purchasing an additional 125,441 shares in the last quarter. Hedge funds and other institutional investors own 68.48% of the company's stock.

Insider Activity

In related news, Director Susan L. Decker sold 547 shares of Costco Wholesale 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 sale, the director owned 11,531 shares in the company, valued at $11,300,380. The trade was a 4.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Patrick J. Callans sold 3,000 shares of Costco Wholesale stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $1,002.77, for a total transaction of $3,008,310.00. Following the sale, the executive vice president directly owned 58,543 shares in the company, valued at $58,705,164.11. The trade was a 4.87% 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.

Analyst Ratings Changes

Several research firms recently commented on COST. Mizuho began coverage on Costco Wholesale in a report on Friday, April 11th. They issued a "neutral" rating and a $975.00 target price on the stock. JPMorgan Chase & Co. boosted 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 note on Thursday. Morgan Stanley upped their price target on Costco Wholesale from $1,150.00 to $1,225.00 and gave the stock an "overweight" rating in a report on Friday, May 30th. 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 research note on Thursday, May 29th. Finally, Wall Street Zen upgraded Costco Wholesale from a "hold" rating to a "buy" rating in a report on Friday, June 6th. Ten research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $1,040.81.

Costco Wholesale Price Performance

Shares of NASDAQ COST opened at $977.45 on Friday. Costco Wholesale Corporation has a 1-year low of $820.45 and a 1-year high of $1,078.23. 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 stock has a fifty day simple moving average of $979.28 and a two-hundred day simple moving average of $984.62. The firm has a market cap of $433.48 billion, a price-to-earnings ratio of 55.44, a price-to-earnings-growth ratio of 6.02 and a beta of 0.96.

Costco Wholesale (NASDAQ:COST - Get Free Report) last posted its quarterly earnings data on Thursday, May 29th. The retailer reported $4.28 earnings per share for the quarter, beating the consensus estimate of $4.24 by $0.04. Costco Wholesale had a net margin of 2.92% and a return on equity of 30.48%. The firm had revenue of $63.21 billion for the quarter, compared to analysts' expectations of $62.93 billion. During the same quarter last year, the company posted $3.78 EPS. The business's quarterly revenue was up 8.0% on a year-over-year basis. Analysts anticipate that Costco Wholesale Corporation will post 18.03 earnings per share for the current year.

Costco Wholesale Dividend Announcement

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

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.

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