IMS Capital Management Invests $3.86 Million in Costco Wholesale Corporation $COST

Key Points

• IMS Capital Management invested approximately $3.86 million in Costco Wholesale, acquiring 3,904 shares, which now represents 1.8% of its total holdings.
• Costco recently declared a quarterly dividend of $1.30, yielding 0.6%, with a payout ratio of 29.50%.
• Institutional investors own 68.48% of Costco's stock, with significant increases in holdings observed from companies like Vanguard and GAMMA Investing.

IMS Capital Management bought a new position in Costco Wholesale Corporation (NASDAQ:COST - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 3,904 shares of the retailer's stock, valued at approximately $3,864,000. Costco Wholesale comprises approximately 1.8% of IMS Capital Management's holdings, making the stock its 12th largest holding.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in Costco Wholesale by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 42,644,711 shares of the retailer's stock valued at $40,332,515,000 after purchasing an additional 443,101 shares during the last quarter. GAMMA Investing LLC increased its holdings in Costco Wholesale by 106,402.1% in the 1st quarter. GAMMA Investing LLC now owns 8,160,190 shares of the retailer's stock worth $7,717,744,000 after buying an additional 8,152,528 shares in the last quarter. Alliancebernstein L.P. raised its position in Costco Wholesale by 0.4% in the 1st quarter. Alliancebernstein L.P. now owns 4,332,009 shares of the retailer's stock worth $4,097,127,000 after buying an additional 18,045 shares during the last quarter. Invesco Ltd. lifted its stake in Costco Wholesale by 5.2% during the 1st quarter. Invesco Ltd. now owns 3,907,670 shares of the retailer's stock valued at $3,695,796,000 after acquiring an additional 191,985 shares during the period. Finally, Nuveen LLC purchased a new stake in shares of Costco Wholesale during the 1st quarter valued at about $3,461,159,000. Institutional investors own 68.48% of the company's stock.

Costco Wholesale Price Performance

Costco Wholesale stock opened at $943.60 on Wednesday. Costco Wholesale Corporation has a 52-week low of $867.16 and a 52-week high of $1,078.23. The company has a quick ratio of 0.52, a current ratio of 1.02 and a debt-to-equity ratio of 0.21. The firm's fifty day moving average is $956.73 and its 200 day moving average is $970.98. The company has a market cap of $418.46 billion, a price-to-earnings ratio of 53.52, a PEG ratio of 5.30 and a beta of 0.97.

Costco Wholesale Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Friday, August 1st were given a $1.30 dividend. The ex-dividend date was Friday, August 1st. This represents a $5.20 annualized dividend and a yield of 0.6%. Costco Wholesale's dividend payout ratio (DPR) is currently 29.50%.

Insider Activity at Costco Wholesale

In other Costco Wholesale news, EVP Yoram Rubanenko sold 4,000 shares of the business'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 transaction of $3,899,840.00. Following the sale, the executive vice president directly owned 5,774 shares of the company's stock, valued at $5,629,419.04. The trade was a 40.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Teresa A. Jones sold 600 shares of the firm'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 sale, the executive vice president directly owned 2,362 shares of the company's stock, valued at $2,343,222.10. The trade was a 20.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.18% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on COST shares. Morgan Stanley increased their price objective 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 lowered their price target on Costco Wholesale from $1,115.00 to $1,110.00 and set a "buy" rating on the stock in a report on Thursday, May 29th. Wall Street Zen raised Costco Wholesale from a "hold" rating to a "buy" rating in a report on Friday, June 6th. Truist Financial increased their target price on Costco Wholesale from $995.00 to $1,042.00 and gave the company a "hold" rating in a report on Friday, May 30th. Finally, Evercore ISI cut their price target on 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 equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat, Costco Wholesale currently has an average rating of "Moderate Buy" and an average price target 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.