Graham Capital Management L.P. Takes Position in Costco Wholesale Corporation $COST

Key Points

• Graham Capital Management L.P. acquired approximately $5.07 million worth of Costco shares, amounting to 5,359 shares, in the first quarter of the year.
• Costco recently reported an EPS of $4.28 for the last quarter, exceeding analysts' expectations and generating $63.21 billion in revenue, an 8% increase year-over-year.
• The company declared a quarterly dividend of $1.30 per share, with an annual yield of 0.6% and a payout ratio of 29.5%.

Graham Capital Management L.P. acquired a new position in Costco Wholesale Corporation (NASDAQ:COST - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 5,359 shares of the retailer's stock, valued at approximately $5,068,000.

Several other hedge funds also recently made changes to their positions in the company. Investment Management Corp VA ADV purchased a new stake in shares of Costco Wholesale in the 4th quarter worth about $25,000. Aspect Partners LLC boosted its stake in Costco Wholesale by 24.4% during the 1st quarter. Aspect Partners LLC now owns 56 shares of the retailer's stock valued at $53,000 after purchasing an additional 11 shares during the last quarter. Capital A Wealth Management LLC bought a new stake in Costco Wholesale in the 4th quarter worth about $58,000. Mascagni Wealth Management Inc. bought a new stake in Costco Wholesale in the 4th quarter worth approximately $59,000. Finally, Bank & Trust Co increased its position in Costco Wholesale by 20.4% during the first quarter. Bank & Trust Co now owns 65 shares of the retailer's stock valued at $61,000 after acquiring an additional 11 shares during the last quarter. 68.48% of the stock is currently owned by institutional investors.

Costco Wholesale Stock Down 0.2%

NASDAQ:COST opened at $943.32 on Friday. The company's fifty day moving average price is $966.42 and its 200-day moving average price is $981.17. The firm has a market capitalization of $418.34 billion, a P/E ratio of 53.51, a PEG ratio of 5.86 and a beta of 0.96. Costco Wholesale Corporation has a 1-year low of $867.16 and a 1-year high of $1,078.23. 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 (NASDAQ:COST - Get Free Report) last issued its earnings results on Thursday, May 29th. The retailer reported $4.28 EPS for the quarter, topping analysts' consensus estimates of $4.24 by $0.04. Costco Wholesale had a return on equity of 30.48% and a net margin of 2.92%.The firm had revenue of $63.21 billion for the quarter, compared to the consensus estimate of $62.93 billion. During the same quarter in the prior year, the business earned $3.78 earnings per share. The company's revenue was up 8.0% compared to the same quarter last year. As a group, equities research analysts anticipate that Costco Wholesale Corporation will post 18.03 EPS for the current year.

Costco Wholesale Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Friday, August 1st were issued a $1.30 dividend. The ex-dividend date of this dividend was Friday, August 1st. This represents a $5.20 dividend on an annualized basis and a yield of 0.6%. Costco Wholesale's dividend payout ratio is presently 29.50%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on COST shares. 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. Erste Group Bank downgraded Costco Wholesale from a "buy" rating to a "hold" rating in a research report on Tuesday, August 5th. Loop Capital dropped their target price 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. Truist Financial upped their price objective on Costco Wholesale from $995.00 to $1,042.00 and gave the company a "hold" rating in a research report on Friday, May 30th. Finally, JPMorgan Chase & Co. lifted their target price on Costco Wholesale from $1,115.00 to $1,160.00 and gave the company an "overweight" rating in a research report on Thursday, August 7th. Seventeen analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company's stock. Based on data from MarketBeat, Costco Wholesale currently has an average rating of "Moderate Buy" and a consensus price target of $1,050.00.

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 of the company's stock, valued at approximately $11,300,380. This trade represents a 4.53% decrease in their position. The transaction 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 company's stock in a transaction dated 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 of the company's stock, valued at approximately $5,629,419.04. This trade represents a 40.92% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 10,147 shares of company stock worth $10,067,740. Insiders own 0.18% of the company's stock.

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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