Hodges Capital Management Inc. Has $3.24 Million Stake in Costco Wholesale Corporation $COST

Key Points

• Hodges Capital Management Inc. increased its stake in Costco Wholesale to $3.24 million after acquiring additional shares, bringing its total to 3,423 shares.
• Costco's stock has received strong support from Wall Street analysts, with a consensus rating of "Moderate Buy" and an average target price of $1,056.67.
• Costco recently declared a quarterly dividend of $1.30 per share, with an annualized dividend yield of 0.5%.

Hodges Capital Management Inc. raised its stake in shares of Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 52.1% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 3,423 shares of the retailer's stock after purchasing an additional 1,173 shares during the period. Hodges Capital Management Inc.'s holdings in Costco Wholesale were worth $3,238,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in COST. GAMMA Investing LLC boosted its stake in Costco Wholesale by 106,402.1% during the 1st quarter. GAMMA Investing LLC now owns 8,160,190 shares of the retailer's stock valued at $7,717,744,000 after purchasing an additional 8,152,528 shares during the last quarter. Nuveen LLC purchased a new position in shares of Costco Wholesale in the 1st quarter worth approximately $3,461,159,000. Vanguard Group Inc. boosted its stake in shares of 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 buying an additional 443,101 shares during the last quarter. National Bank of Canada FI boosted its stake in shares of Costco Wholesale by 84.0% in the 1st quarter. National Bank of Canada FI now owns 812,188 shares of the retailer's stock worth $768,114,000 after buying an additional 370,806 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Costco Wholesale in the 4th quarter worth approximately $280,046,000. Institutional investors and hedge funds own 68.48% of the company's stock.

Wall Street Analysts Forecast Growth

COST has been the topic of a number of research analyst reports. Truist Financial boosted their target price on Costco Wholesale from $995.00 to $1,042.00 and gave the stock a "hold" rating in a research note on Friday, May 30th. Loop Capital cut 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. Telsey Advisory Group restated an "outperform" rating and issued a $1,100.00 target price on shares of Costco Wholesale in a research note on Wednesday, August 27th. Wall Street Zen upgraded Costco Wholesale from a "hold" rating to a "buy" rating in a research note on Friday, June 6th. Finally, Morgan Stanley boosted their target price on Costco Wholesale from $1,150.00 to $1,225.00 and gave the stock an "overweight" rating in a research note on Friday, May 30th. Seventeen equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $1,056.67.

Insider Activity at Costco Wholesale

In related news, EVP Yoram Rubanenko sold 4,000 shares of the company's stock in a transaction that occurred on Monday, July 14th. The stock was sold at an average price of $974.96, for a total value of $3,899,840.00. Following the transaction, the executive vice president owned 5,774 shares in the company, valued at approximately $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 accessible through this link. Also, EVP Teresa A. Jones sold 600 shares of the company's stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $992.05, for a total value of $595,230.00. Following the completion of the transaction, the executive vice president owned 2,362 shares in the company, valued at approximately $2,343,222.10. The trade was a 20.26% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 5,147 shares of company stock worth $5,031,130. Insiders own 0.18% of the company's stock.

Costco Wholesale Price Performance

Costco Wholesale stock opened at $964.32 on Friday. Costco Wholesale Corporation has a 12 month low of $867.16 and a 12 month 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 business's 50 day simple moving average is $960.77 and its 200 day simple moving average is $975.64. The company has a market cap of $427.66 billion, a price-to-earnings ratio of 54.70, a PEG ratio of 5.38 and a beta of 0.97.

Costco Wholesale Announces Dividend

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

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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