J. Safra Sarasin Holding AG Has $44.63 Million Stake in Costco Wholesale Corporation (NASDAQ:COST)

Key Points

• J. Safra Sarasin Holding AG increased its stake in Costco Wholesale Corporation by 6.9% during the 1st quarter, now owning 47,226 shares valued at approximately $44.63 million.
• Costco reported $4.28 EPS for its latest quarter, surpassing estimates and showing an 8% year-over-year revenue increase to $63.21 billion.
• The company declared a quarterly dividend of $1.30 per share, with a dividend yield of 0.5%, set to be paid on August 15th, following a payout ratio of 29.50%.

J. Safra Sarasin Holding AG grew its position in shares of Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 6.9% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 47,226 shares of the retailer's stock after buying an additional 3,042 shares during the quarter. J. Safra Sarasin Holding AG's holdings in Costco Wholesale were worth $44,626,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of COST. Investment Management Corp VA ADV bought a new stake in shares of Costco Wholesale in the 4th quarter worth approximately $25,000. Aspect Partners LLC raised its holdings in Costco Wholesale by 24.4% during the 1st quarter. Aspect Partners LLC now owns 56 shares of the retailer's stock valued at $53,000 after acquiring an additional 11 shares during the period. Capital A Wealth Management LLC bought a new stake in Costco Wholesale during the 4th quarter valued at $58,000. Mascagni Wealth Management Inc. bought a new stake in Costco Wholesale during the 4th quarter valued at $59,000. Finally, Bank & Trust Co raised its holdings in Costco Wholesale by 20.4% during the 1st quarter. Bank & Trust Co now owns 65 shares of the retailer's stock valued at $61,000 after acquiring an additional 11 shares during the period. Institutional investors own 68.48% of the company's stock.

Costco Wholesale Trading Up 1.4%

NASDAQ:COST opened at $952.52 on Friday. Costco Wholesale Corporation has a 52 week low of $793.00 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 company's 50 day moving average price is $983.34 and its 200-day moving average price is $983.82. The stock has a market cap of $422.42 billion, a price-to-earnings ratio of 54.03, a PEG ratio of 5.84 and a beta of 0.97.

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

Costco Wholesale Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Friday, August 1st will be paid a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 0.5%. The ex-dividend date is Friday, August 1st. Costco Wholesale's dividend payout ratio (DPR) is currently 29.50%.

Insider Buying and Selling at Costco Wholesale

In other news, EVP Pierre Riel sold 2,000 shares of Costco Wholesale stock in a transaction on Friday, June 6th. The shares were sold at an average price of $1,014.15, for a total transaction of $2,028,300.00. Following the transaction, the executive vice president owned 8,210 shares in the company, valued at $8,326,171.50. This trade represents a 19.59% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Susan L. Decker sold 547 shares of Costco Wholesale stock in a transaction on Wednesday, June 18th. The shares were sold at an average price of $980.00, for a total transaction of $536,060.00. Following the transaction, the director owned 11,531 shares in the company, valued at approximately $11,300,380. This trade represents a 4.53% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 9,547 shares of company stock worth $9,472,510. 0.18% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on COST. Truist Financial boosted their target price on shares of Costco Wholesale from $995.00 to $1,042.00 and gave the company a "hold" rating in a report on Friday, May 30th. Mizuho started coverage on shares of Costco Wholesale in a report on Friday, April 11th. They set a "neutral" rating and a $975.00 target price on the stock. Loop Capital reduced 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 report on Thursday, May 29th. Wall Street Zen upgraded shares of Costco Wholesale from a "hold" rating to a "buy" rating in a research report on Friday, June 6th. Finally, Morgan Stanley boosted 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 research report on Friday, May 30th. Nine research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $1,037.48.

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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