Hyperion Asset Management Ltd Grows Stock Position in Costco Wholesale Corporation $COST

Key Points

• Hyperion Asset Management Ltd increased its stake in Costco Wholesale Corporation by 12.9% during the second quarter, now holding 55,777 shares valued at approximately $55.2 million.
• Costco recently announced a quarterly dividend of $1.30 per share, with an annualized dividend yield of 0.6% and a payout ratio of 29.5%.
• Analysts have varying price targets for Costco shares, with JPMorgan Chase raising their target to $1,160.00, indicating a consensus rating of "Moderate Buy" among 17 investment analysts.

Hyperion Asset Management Ltd increased its position in shares of Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 12.9% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 55,777 shares of the retailer's stock after buying an additional 6,383 shares during the quarter. Costco Wholesale comprises approximately 1.7% of Hyperion Asset Management Ltd's portfolio, making the stock its 17th largest position. Hyperion Asset Management Ltd's holdings in Costco Wholesale were worth $55,216,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Bulwark Capital Corp purchased a new stake in Costco Wholesale in the second quarter valued at approximately $25,000. Anderson Financial Strategies LLC raised its position in Costco Wholesale by 900.0% in the first quarter. Anderson Financial Strategies LLC now owns 40 shares of the retailer's stock valued at $38,000 after purchasing an additional 36 shares during the period. eCIO Inc. acquired a new position in shares of Costco Wholesale in the first quarter worth $48,000. Aspect Partners LLC grew its stake in shares of Costco Wholesale by 24.4% in the first quarter. Aspect Partners LLC now owns 56 shares of the retailer's stock worth $53,000 after acquiring an additional 11 shares in the last quarter. Finally, Capital A Wealth Management LLC acquired a new position in shares of Costco Wholesale in the fourth quarter worth $58,000. Hedge funds and other institutional investors own 68.48% of the company's stock.

Costco Wholesale Trading Down 0.8%

Shares of COST opened at $943.26 on Tuesday. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.02 and a quick ratio of 0.52. The firm has a 50 day simple moving average of $957.21 and a 200-day simple moving average of $971.17. Costco Wholesale Corporation has a 1-year low of $867.16 and a 1-year high of $1,078.23. The stock has a market cap of $418.32 billion, a price-to-earnings ratio of 53.50, a price-to-earnings-growth ratio of 5.34 and a beta of 0.97.

Costco Wholesale Announces Dividend

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

Insider Buying and Selling

In other news, EVP Yoram Rubanenko sold 4,000 shares of the firm's stock in a transaction that occurred on 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 of the company's stock, valued at $5,629,419.04. This trade represents a 40.92% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Teresa A. Jones sold 600 shares of the firm's stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $992.05, for a total transaction of $595,230.00. Following the transaction, the executive vice president directly owned 2,362 shares of the company's stock, valued at approximately $2,343,222.10. This trade represents a 20.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.18% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have commented 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 stock an "overweight" rating in a research note on Thursday, August 7th. Loop Capital dropped their price target on shares of Costco Wholesale from $1,115.00 to $1,110.00 and set a "buy" rating for the company in a research note on Thursday, May 29th. Erste Group Bank downgraded shares of Costco Wholesale from a "buy" rating to a "hold" rating in a research note on Tuesday, August 5th. Telsey Advisory Group reiterated an "outperform" rating and set a $1,100.00 target price on shares of Costco Wholesale in a research note on Wednesday, August 27th. Finally, Evercore ISI lowered their target price on shares of Costco Wholesale from $1,075.00 to $1,060.00 and set an "outperform" rating for the company in a research note on Tuesday, June 17th. Seventeen investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $1,061.30.

Costco Wholesale Company 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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