Invesco Ltd. Buys 191,985 Shares of Costco Wholesale Corporation (NASDAQ:COST)

Key Points

• Invesco Ltd. increased its stake in Costco Wholesale Corporation by 5.2%, acquiring an additional 191,985 shares, which now makes up approximately 0.7% of Invesco's portfolio.
• Recent analyst reports show a mixed outlook for Costco, with average target price set at $1,050.00, and the retailer receiving both "hold" and "buy" ratings from multiple research firms.
• Costco declared a quarterly dividend of $1.30, amounting to a 0.5% dividend yield, with a payout ratio of 29.50% as of the recent announcement.

Invesco Ltd. raised its stake in shares of Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 5.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,907,670 shares of the retailer's stock after purchasing an additional 191,985 shares during the quarter. Costco Wholesale comprises 0.7% of Invesco Ltd.'s holdings, making the stock its 11th biggest position. Invesco Ltd. owned approximately 0.88% of Costco Wholesale worth $3,695,796,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in COST. Vanguard Group Inc. increased its holdings 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 valued at $40,332,515,000 after purchasing an additional 443,101 shares in the last quarter. GAMMA Investing LLC increased its stake in Costco Wholesale by 106,402.1% during the first 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. Northern Trust Corp boosted its stake in Costco Wholesale by 12.6% during the 4th quarter. Northern Trust Corp now owns 5,257,809 shares of the retailer's stock valued at $4,817,573,000 after purchasing an additional 587,303 shares during the period. Capital World Investors lifted its stake in Costco Wholesale by 0.5% during the fourth quarter. Capital World Investors now owns 3,990,957 shares of the retailer's stock valued at $3,656,828,000 after purchasing an additional 18,897 shares during the last quarter. Finally, Jennison Associates LLC lifted its stake in Costco Wholesale by 3.9% during the first quarter. Jennison Associates LLC now owns 3,357,630 shares of the retailer's stock valued at $3,175,579,000 after purchasing an additional 125,441 shares during the last quarter. 68.48% of the stock is owned by hedge funds and other institutional investors.

Costco Wholesale Trading Up 0.4%

NASDAQ:COST traded up $3.53 during mid-day trading on Friday, reaching $980.98. The company's stock had a trading volume of 2,188,224 shares, compared to its average volume of 2,172,175. The company's fifty day simple moving average is $977.93 and its two-hundred day simple moving average is $985.13. The stock has a market cap of $435.05 billion, a P/E ratio of 55.64, a P/E/G ratio of 6.10 and a beta of 0.96. 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 Corporation has a twelve month low of $837.63 and a twelve month high of $1,078.23.

Costco Wholesale (NASDAQ:COST - Get Free Report) last issued its earnings results on Thursday, May 29th. The retailer reported $4.28 EPS for the quarter, topping the consensus estimate of $4.24 by $0.04. Costco Wholesale had a return on equity of 30.48% and a net margin of 2.92%. The company had revenue of $63.21 billion during the quarter, compared to analyst estimates of $62.93 billion. During the same quarter last year, the firm earned $3.78 EPS. The business's revenue was up 8.0% on a year-over-year basis. On average, equities analysts predict that Costco Wholesale Corporation will post 18.03 EPS for the current year.

Costco Wholesale Announces Dividend

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

Insider Transactions at Costco Wholesale

In other Costco Wholesale news, EVP Pierre Riel sold 2,000 shares of the stock in a transaction on Friday, June 6th. The stock was sold at an average price of $1,014.15, for a total value of $2,028,300.00. Following the transaction, the executive vice president directly owned 8,210 shares in the company, valued at approximately $8,326,171.50. This trade represents a 19.59% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Patrick J. Callans sold 3,000 shares of the stock in a transaction on Monday, June 9th. The shares were sold at an average price of $1,002.77, for a total value of $3,008,310.00. Following the completion of the transaction, the executive vice president directly owned 58,543 shares in the company, valued at approximately $58,705,164.11. This trade represents a 4.87% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 9,547 shares of company stock worth $9,472,510. Insiders own 0.18% of the company's stock.

Wall Street Analyst Weigh In

COST has been the subject of a number of research reports. Morgan Stanley increased 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 report on Friday, May 30th. Truist Financial upped 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 note on Friday, May 30th. Loop Capital reduced their price objective on shares of Costco Wholesale from $1,115.00 to $1,110.00 and set a "buy" rating for the company in a research report on Thursday, May 29th. Erste Group Bank lowered Costco Wholesale from a "buy" rating to a "hold" rating in a report on Tuesday, August 5th. Finally, Wall Street Zen raised Costco Wholesale from a "hold" rating to a "buy" rating in a research note on Friday, June 6th. Ten analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $1,050.00.

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.