Costco Wholesale Corporation $COST Shares Sold by Intech Investment Management LLC

Key Points

• Intech Investment Management LLC reduced its stake in Costco by 15.7% during Q1, now holding approximately $39.73 million worth of shares after selling 7,844 shares.
• Multiple brokerages have raised their price targets for Costco, with Morgan Stanley increasing its target to $1,225.00 and an overall consensus rating of "Moderate Buy" among analysts.
• Costco recently declared a quarterly dividend of $1.30 per share, with a 0.5% yield, reflecting a payout ratio of 29.50%.

Intech Investment Management LLC lessened its stake in shares of Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 15.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 42,009 shares of the retailer's stock after selling 7,844 shares during the quarter. Intech Investment Management LLC's holdings in Costco Wholesale were worth $39,731,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Investment Management Corp VA ADV purchased a new stake in Costco Wholesale during the 4th quarter worth about $25,000. Aspect Partners LLC grew its holdings in Costco Wholesale by 24.4% in the 1st quarter. Aspect Partners LLC now owns 56 shares of the retailer's stock valued at $53,000 after buying an additional 11 shares during the period. Capital A Wealth Management LLC purchased a new stake in Costco Wholesale in the 4th quarter valued at about $58,000. Mascagni Wealth Management Inc. purchased a new stake in Costco Wholesale in the 4th quarter valued at about $59,000. Finally, Ransom Advisory Ltd purchased a new stake in Costco Wholesale in the 1st quarter valued at about $61,000. Hedge funds and other institutional investors own 68.48% of the company's stock.

Costco Wholesale Stock Up 0.4%

NASDAQ COST traded up $3.58 on Friday, reaching $967.90. The company had a trading volume of 1,460,154 shares, compared to its average volume of 1,950,274. The firm has a market capitalization of $429.24 billion, a PE ratio of 54.90, a P/E/G ratio of 5.43 and a beta of 0.97. Costco Wholesale Corporation has a 1 year low of $867.16 and a 1 year high of $1,078.23. The firm has a 50-day moving average of $960.40 and a 200-day moving average of $975.04. 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 Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Friday, August 1st were issued a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date was Friday, August 1st. Costco Wholesale's dividend payout ratio is currently 29.50%.

Analyst Ratings Changes

Several research firms have commented on COST. Truist Financial lifted their price target on Costco Wholesale from $995.00 to $1,042.00 and gave the company a "hold" rating in a 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 for the company in a report on Thursday, May 29th. Stifel Nicolaus set a $1,035.00 price target on Costco Wholesale in a report on Thursday, May 29th. Telsey Advisory Group restated an "outperform" rating and issued a $1,100.00 price target on shares of Costco Wholesale in a report on Wednesday, August 27th. Finally, Evercore ISI decreased their target price on Costco Wholesale from $1,075.00 to $1,060.00 and set an "outperform" rating for the company in a report on Tuesday, June 17th. Seventeen analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $1,056.67.

Insiders Place Their Bets

In other Costco Wholesale news, Director Susan L. Decker sold 547 shares of the company's stock in a transaction that occurred on Wednesday, June 18th. The stock was sold at an average price of $980.00, for a total value of $536,060.00. Following the transaction, the director directly owned 11,531 shares of the company's stock, valued at $11,300,380. This represents a 4.53% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Yoram Rubanenko sold 4,000 shares of the company'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 value of $3,899,840.00. Following the completion of the transaction, the executive vice president directly owned 5,774 shares in the company, valued at approximately $5,629,419.04. The trade was a 40.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,147 shares of company stock worth $5,031,130 in the last 90 days. 0.18% of the stock is owned by company insiders.

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.