Gulf International Bank UK Ltd Sells 9,117 Shares of Costco Wholesale Corporation (NASDAQ:COST)

Key Points

• Gulf International Bank UK Ltd has reduced its stake in Costco Wholesale by 26.3%, now holding 25,517 shares valued at approximately $24.13 million.
• Costco recently declared a quarterly dividend of $1.30 per share, payable on August 15th to shareholders of record as of August 1st.
• Several institutional investors, including Bosun Asset Management and Corps Capital Advisors, have adjusted their positions in Costco, with institutional ownership totaling 68.48% of the company's stock.

Gulf International Bank UK Ltd cut its holdings in shares of Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 26.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 25,517 shares of the retailer's stock after selling 9,117 shares during the period. Costco Wholesale comprises approximately 0.8% of Gulf International Bank UK Ltd's investment portfolio, making the stock its 17th biggest position. Gulf International Bank UK Ltd's holdings in Costco Wholesale were worth $24,133,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Bosun Asset Management LLC raised its stake in shares of Costco Wholesale by 1.6% during the fourth quarter. Bosun Asset Management LLC now owns 636 shares of the retailer's stock valued at $583,000 after acquiring an additional 10 shares during the last quarter. Corps Capital Advisors LLC increased its position in shares of Costco Wholesale by 0.7% during the first quarter. Corps Capital Advisors LLC now owns 1,547 shares of the retailer's stock valued at $1,463,000 after buying an additional 10 shares during the period. Covestor Ltd increased its position in shares of Costco Wholesale by 8.6% during the first quarter. Covestor Ltd now owns 126 shares of the retailer's stock valued at $119,000 after buying an additional 10 shares during the period. Coppell Advisory Solutions LLC increased its position in shares of Costco Wholesale by 0.3% during the fourth quarter. Coppell Advisory Solutions LLC now owns 3,437 shares of the retailer's stock valued at $3,163,000 after buying an additional 11 shares during the period. Finally, Rooted Wealth Advisors Inc. increased its position in shares of Costco Wholesale by 2.6% during the first quarter. Rooted Wealth Advisors Inc. now owns 441 shares of the retailer's stock valued at $404,000 after buying an additional 11 shares during the period. 68.48% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on COST shares. JPMorgan Chase & Co. boosted their price target on shares of 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. Telsey Advisory Group reiterated an "outperform" rating and set a $1,100.00 price target on shares of Costco Wholesale in a research report on Monday, August 4th. Truist Financial boosted their price target on shares of Costco Wholesale from $995.00 to $1,042.00 and gave the company a "hold" rating in a research report on Friday, May 30th. Morgan Stanley boosted 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. Finally, Wall Street Zen upgraded shares of Costco Wholesale from a "hold" rating to a "buy" rating in a research report on Friday, June 6th. Ten research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat, Costco Wholesale has an average rating of "Moderate Buy" and an average target price of $1,050.00.

Insider Activity at Costco Wholesale

In related news, EVP Pierre Riel sold 2,000 shares of the stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $1,014.15, for a total transaction of $2,028,300.00. Following the transaction, the executive vice president owned 8,210 shares in the company, valued at $8,326,171.50. This represents a 19.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Susan L. Decker sold 547 shares of the 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 transaction, the director owned 11,531 shares in the company, valued at approximately $11,300,380. This trade represents a 4.53% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 9,547 shares of company stock worth $9,472,510 in the last three months. 0.18% of the stock is currently owned by company insiders.

Costco Wholesale Stock Down 0.4%

Shares of NASDAQ:COST traded down $3.46 during trading on Thursday, reaching $975.39. 1,806,960 shares of the stock traded hands, compared to its average volume of 2,216,071. The stock has a 50-day moving average of $973.82 and a two-hundred day moving average of $985.76. Costco Wholesale Corporation has a 52-week low of $867.16 and a 52-week high of $1,078.23. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.52 and a current ratio of 1.02. The stock has a market cap of $432.56 billion, a P/E ratio of 55.33, a price-to-earnings-growth ratio of 6.16 and a beta of 0.96.

Costco Wholesale (NASDAQ:COST - Get Free Report) last posted 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. 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 in the prior year, the company posted $3.78 earnings per share. The business's revenue for the quarter was up 8.0% on a year-over-year basis. As a group, sell-side analysts expect that Costco Wholesale Corporation will post 18.03 earnings per share for the current fiscal year.

Costco Wholesale Announces Dividend

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