Jacobs Levy Equity Management Inc. Acquires 127,376 Shares of Costco Wholesale Corporation $COST

Key Points

• Jacobs Levy Equity Management Inc. increased its stake in Costco Wholesale by 315.1%, acquiring an additional 127,376 shares to bring its total holdings to 167,805 shares valued at approximately $158.7 million.
• Insider selling activity included Director Susan L. Decker selling 547 shares at $980.00 each, representing a 4.53% decrease in their position, while EVP Yoram Rubanenko sold 4,000 shares at $974.96, reducing his ownership by 40.92%.
• Costco's latest quarterly dividend of $1.30 per share was paid on August 15, resulting in an annualized dividend of $5.20 and a dividend yield of 0.5%.

Jacobs Levy Equity Management Inc. grew its holdings in shares of Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 315.1% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 167,805 shares of the retailer's stock after purchasing an additional 127,376 shares during the period. Jacobs Levy Equity Management Inc.'s holdings in Costco Wholesale were worth $158,707,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Investment Management Corp VA ADV acquired a new position in shares of Costco Wholesale during the 4th quarter worth $25,000. Aspect Partners LLC boosted its stake in Costco Wholesale by 24.4% in the first quarter. Aspect Partners LLC now owns 56 shares of the retailer's stock valued at $53,000 after buying an additional 11 shares in the last quarter. Capital A Wealth Management LLC bought a new position in Costco Wholesale in the fourth quarter valued at about $58,000. Mascagni Wealth Management Inc. acquired a new position in Costco Wholesale during the fourth quarter worth about $59,000. Finally, Bank & Trust Co lifted its holdings in shares of Costco Wholesale by 20.4% in the first quarter. Bank & Trust Co now owns 65 shares of the retailer's stock worth $61,000 after acquiring an additional 11 shares during the last quarter. 68.48% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Costco Wholesale news, Director Susan L. Decker sold 547 shares of the stock in a transaction dated Wednesday, June 18th. The stock was sold at an average price of $980.00, for a total transaction of $536,060.00. Following the completion of the sale, the director directly owned 11,531 shares in the company, valued at approximately $11,300,380. This trade represents a 4.53% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Yoram Rubanenko sold 4,000 shares of Costco Wholesale stock in a transaction dated Monday, July 14th. The stock was 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 of the company's stock, valued at approximately $5,629,419.04. This trade represents a 40.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 8,147 shares of company stock worth $8,039,440 over the last ninety days. Corporate insiders own 0.18% of the company's stock.

Costco Wholesale Stock Performance

NASDAQ:COST opened at $955.90 on Friday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.52 and a current ratio of 1.02. Costco Wholesale Corporation has a fifty-two week low of $867.16 and a fifty-two week high of $1,078.23. The company has a 50 day simple moving average of $962.66 and a two-hundred day simple moving average of $978.32. The company has a market capitalization of $423.92 billion, a PE ratio of 54.22, a P/E/G ratio of 5.32 and a beta of 0.97.

Costco Wholesale Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Friday, August 1st were given a dividend of $1.30 per share. The ex-dividend date was Friday, August 1st. This represents a $5.20 annualized dividend and a dividend yield of 0.5%. Costco Wholesale's dividend payout ratio is 29.50%.

Analyst Ratings Changes

Several brokerages recently issued reports on COST. Morgan Stanley lifted 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. Wall Street Zen upgraded shares of Costco Wholesale from a "hold" rating to a "buy" rating in a report on Friday, June 6th. Loop Capital dropped their price target on 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. Telsey Advisory Group restated an "outperform" rating and set a $1,100.00 price objective on shares of Costco Wholesale in a research report on Wednesday, August 27th. Finally, Stifel Nicolaus set a $1,035.00 target price on Costco Wholesale in a report on Thursday, May 29th. Seventeen analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $1,050.00.

About Costco Wholesale

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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