KADENSA CAPITAL Ltd Makes New Investment in Costco Wholesale Corporation $COST

Key Points

• KADENSA CAPITAL Ltd has made a new investment in Costco Wholesale Corporation by purchasing 4,899 shares valued at approximately $4,633,000 during the 1st quarter.
• Several institutional investors have also increased their holdings in Costco, with GAMMA Investing LLC growing its stake by an astounding 106,402.1% in the same period.
• Costco recently announced a quarterly dividend of $1.30 per share, indicating a 0.5% yield for shareholders.

KADENSA CAPITAL Ltd purchased a new position in Costco Wholesale Corporation (NASDAQ:COST - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 4,899 shares of the retailer's stock, valued at approximately $4,633,000.

Several other institutional investors have also modified their holdings of COST. GAMMA Investing LLC grew its stake in shares of Costco Wholesale by 106,402.1% in the first quarter. GAMMA Investing LLC now owns 8,160,190 shares of the retailer's stock worth $7,717,744,000 after acquiring an additional 8,152,528 shares in the last quarter. Nuveen LLC acquired a new position in shares of Costco Wholesale in the first quarter worth $3,461,159,000. Leigh Baldwin & CO. LLC acquired a new position in shares of Costco Wholesale in the fourth quarter worth $95,452,000. Vanguard Group Inc. grew its stake in shares of Costco Wholesale by 1.0% in the first quarter. Vanguard Group Inc. now owns 42,644,711 shares of the retailer's stock worth $40,332,515,000 after acquiring an additional 443,101 shares in the last quarter. Finally, National Bank of Canada FI grew its stake in shares of Costco Wholesale by 84.0% in the first quarter. National Bank of Canada FI now owns 812,188 shares of the retailer's stock worth $768,114,000 after acquiring an additional 370,806 shares in the last quarter. Institutional investors and hedge funds own 68.48% of the company's stock.

Insider Activity at Costco Wholesale

In other Costco Wholesale news, EVP Patrick J. Callans sold 3,000 shares of the company's 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 owned 58,543 shares in the company, valued at $58,705,164.11. This represents a 4.87% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Yoram Rubanenko sold 4,000 shares of the company's stock in a transaction on Monday, July 14th. The shares were sold at an average price of $974.96, for a total transaction of $3,899,840.00. Following the completion of the transaction, the executive vice president owned 5,774 shares of the company's stock, valued at $5,629,419.04. This represents a 40.92% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 8,147 shares of company stock worth $8,039,440. Insiders own 0.18% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on COST shares. Morgan Stanley increased their target price on Costco Wholesale from $1,150.00 to $1,225.00 and gave the company an "overweight" rating in a report on Friday, May 30th. Erste Group Bank lowered Costco Wholesale from a "buy" rating to a "hold" rating in a report on Tuesday, August 5th. JPMorgan Chase & Co. increased their target price on Costco Wholesale from $1,115.00 to $1,160.00 and gave the company an "overweight" rating in a report on Thursday, August 7th. Stifel Nicolaus set a $1,035.00 target price on Costco Wholesale in a report on Thursday, May 29th. Finally, Wall Street Zen raised Costco Wholesale from a "hold" rating to a "buy" rating in a report on Friday, June 6th. Seventeen research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $1,050.00.

Costco Wholesale Stock Performance

NASDAQ COST opened at $955.90 on Friday. 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 1 year low of $867.16 and a 1 year high of $1,078.23. 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. The company has a fifty day moving average of $962.66 and a two-hundred day moving average of $978.32.

Costco Wholesale Dividend Announcement

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

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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