Fred Alger Management LLC Purchases New Shares in Costco Wholesale Corporation $COST

Key Points

• Fred Alger Management LLC has acquired a new stake in Costco Wholesale Corporation, purchasing 10,130 shares valued at approximately $9.58 million during the 1st quarter.
• Institutional investors currently hold 68.48% of Costco's stock, with multiple firms increasing their positions significantly, indicating strong interest in the retailer.
• Costco recently announced a quarterly dividend of $1.30 per share, representing a 0.5% yield, with a dividend payout ratio of 29.50%.

Fred Alger Management LLC bought a new position in shares of Costco Wholesale Corporation (NASDAQ:COST - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund bought 10,130 shares of the retailer's stock, valued at approximately $9,581,000.

A number of other institutional investors have also recently added to or reduced their stakes in the business. GAMMA Investing LLC grew its position in shares of Costco Wholesale by 106,402.1% in the 1st quarter. GAMMA Investing LLC now owns 8,160,190 shares of the retailer's stock valued at $7,717,744,000 after buying an additional 8,152,528 shares during the last quarter. Nuveen LLC bought a new stake in Costco Wholesale in the first quarter valued at approximately $3,461,159,000. Leigh Baldwin & CO. LLC bought a new stake in Costco Wholesale in the fourth quarter valued at approximately $95,452,000. Vanguard Group Inc. boosted its holdings in Costco Wholesale by 1.0% in the first quarter. Vanguard Group Inc. now owns 42,644,711 shares of the retailer's stock valued at $40,332,515,000 after acquiring an additional 443,101 shares during the last quarter. Finally, National Bank of Canada FI boosted 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 acquiring an additional 370,806 shares during the last quarter. 68.48% of the stock is owned by institutional investors.

Insider Buying and Selling at Costco Wholesale

In related news, Director Susan L. Decker sold 547 shares of the firm's stock in a transaction dated Wednesday, June 18th. The shares were sold at an average price of $980.00, for a total value of $536,060.00. Following the transaction, the director owned 11,531 shares of the company's stock, valued at approximately $11,300,380. This trade represents a 4.53% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Yoram Rubanenko sold 4,000 shares of the firm's stock in a transaction dated Monday, July 14th. The shares were sold at an average price of $974.96, for a total transaction of $3,899,840.00. Following the completion of the transaction, the executive vice president directly owned 5,774 shares in the company, valued at approximately $5,629,419.04. The trade was a 40.92% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 5,147 shares of company stock valued at $5,031,130. Corporate insiders own 0.18% of the company's stock.

Costco Wholesale Stock Down 0.1%

NASDAQ:COST traded down $1.45 on Friday, hitting $962.87. The stock had a trading volume of 407,875 shares, compared to its average volume of 2,187,710. The business's fifty day moving average is $960.77 and its 200 day moving average is $975.64. The company has a market cap of $427.02 billion, a PE ratio of 54.61, a P/E/G ratio of 5.38 and a beta of 0.97. The company has a quick ratio of 0.52, a current ratio of 1.02 and a debt-to-equity ratio of 0.21. Costco Wholesale Corporation has a 52 week low of $867.16 and a 52 week high of $1,078.23.

Costco Wholesale Announces Dividend

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on COST shares. Erste Group Bank lowered shares of Costco Wholesale from a "buy" rating to a "hold" rating in a research note on Tuesday, August 5th. Morgan Stanley upped their price target on shares of Costco Wholesale from $1,150.00 to $1,225.00 and gave the company an "overweight" rating in a research report on Friday, May 30th. Loop Capital cut their price target on shares of Costco Wholesale from $1,115.00 to $1,110.00 and set a "buy" rating on the stock in a research report on Thursday, May 29th. Stifel Nicolaus set a $1,035.00 price target on shares of Costco Wholesale in a research report on Thursday, May 29th. Finally, Telsey Advisory Group restated an "outperform" rating and set a $1,100.00 target price on shares of Costco Wholesale in a research report on Wednesday, August 27th. Seventeen equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $1,056.67.

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.