Kingstone Capital Partners Texas LLC Increases Stock Holdings in Costco Wholesale Corporation $COST

Key Points

• Kingstone Capital Partners Texas LLC has significantly increased its holdings in Costco Wholesale Corporation, acquiring an additional 2,358,859 shares, bringing their total ownership to approximately 2,359,422 shares, valued at around $2.34 billion.
• The company recently declared a quarterly $1.30 dividend, reflecting an annualized dividend of $5.20 and a yield of 0.5%, with a payout ratio of 29.5%.
• Analyst ratings for Costco show strong bullish sentiment with 17 analysts giving a "Buy" rating and an average target price of $1,056.67.

Kingstone Capital Partners Texas LLC increased its holdings in Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 418,980.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,359,422 shares of the retailer's stock after buying an additional 2,358,859 shares during the quarter. Kingstone Capital Partners Texas LLC owned about 0.53% of Costco Wholesale worth $2,335,686,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in COST. IFM Investors Pty Ltd boosted its stake in Costco Wholesale by 3.1% during the 2nd quarter. IFM Investors Pty Ltd now owns 83,402 shares of the retailer's stock worth $82,563,000 after purchasing an additional 2,493 shares during the last quarter. Pachira Investments Inc. raised its holdings in Costco Wholesale by 3.0% in the 2nd quarter. Pachira Investments Inc. now owns 1,132 shares of the retailer's stock valued at $1,120,000 after buying an additional 33 shares during the period. Perkins Coie Trust Co grew its position in Costco Wholesale by 4.2% in the 2nd quarter. Perkins Coie Trust Co now owns 4,799 shares of the retailer's stock valued at $4,751,000 after acquiring an additional 194 shares in the last quarter. Oliver Lagore Vanvalin Investment Group acquired a new position in Costco Wholesale in the 2nd quarter valued at about $2,032,000. Finally, Three Seasons Wealth LLC grew its position in Costco Wholesale by 6.3% in the 2nd quarter. Three Seasons Wealth LLC now owns 420 shares of the retailer's stock valued at $416,000 after acquiring an additional 25 shares in the last quarter. Institutional investors and hedge funds own 68.48% of the company's stock.

Wall Street Analysts Forecast Growth

COST has been the subject of several research reports. Wall Street Zen raised Costco Wholesale from a "hold" rating to a "buy" rating in a research report on Friday, June 6th. Truist Financial upped their target price on shares of Costco Wholesale from $995.00 to $1,042.00 and gave the stock a "hold" rating in a research note on Friday, May 30th. Stifel Nicolaus set a $1,035.00 target price on shares of Costco Wholesale in a research note on Thursday, May 29th. Morgan Stanley upped their price target 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. Finally, Wolfe Research assumed coverage on Costco Wholesale in a report on Thursday, September 18th. They issued a "peer perform" rating for the company. Seventeen research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $1,061.30.

Insiders Place Their Bets

In other Costco Wholesale news, EVP Teresa A. Jones sold 600 shares of the firm's stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $992.05, for a total value of $595,230.00. Following the sale, the executive vice president directly owned 2,362 shares of the company's stock, valued at approximately $2,343,222.10. This trade represents a 20.26% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Yoram Rubanenko sold 4,000 shares of the firm's 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 sale, 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. 0.18% of the stock is owned by company insiders.

Costco Wholesale Stock Performance

Shares of Costco Wholesale stock traded down $7.33 during trading hours on Tuesday, hitting $935.94. 753,996 shares of the company were exchanged, compared to its average volume of 2,195,739. The business has a 50-day moving average of $957.21 and a 200-day moving average of $971.17. The stock has a market capitalization of $415.07 billion, a price-to-earnings ratio of 53.17, a P/E/G ratio of 5.34 and a beta of 0.97. The company has a current ratio of 1.02, a quick ratio of 0.52 and a debt-to-equity ratio of 0.21. Costco Wholesale Corporation has a 1 year low of $867.16 and a 1 year high of $1,078.23.

Costco Wholesale Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Friday, August 1st were paid a dividend of $1.30 per share. The ex-dividend date of this dividend was Friday, August 1st. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.6%. Costco Wholesale's dividend payout ratio (DPR) is presently 29.50%.

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.