Legato Capital Management LLC Acquires 2,057 Shares of Costco Wholesale Corporation (NASDAQ:COST)

Legato Capital Management LLC boosted its holdings in Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 91.7% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,300 shares of the retailer's stock after buying an additional 2,057 shares during the quarter. Costco Wholesale makes up 0.5% of Legato Capital Management LLC's holdings, making the stock its 29th biggest holding. Legato Capital Management LLC's holdings in Costco Wholesale were worth $4,067,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of COST. Investment Management Corp VA ADV acquired a new stake in shares of Costco Wholesale during the fourth quarter valued at about $25,000. Aspect Partners LLC increased its holdings in Costco Wholesale by 24.4% in the first quarter. Aspect Partners LLC now owns 56 shares of the retailer's stock worth $53,000 after purchasing an additional 11 shares in the last quarter. Capital A Wealth Management LLC bought a new stake in Costco Wholesale in the fourth quarter worth approximately $58,000. Mascagni Wealth Management Inc. bought a new stake in Costco Wholesale in the fourth quarter worth approximately $59,000. Finally, Bank & Trust Co increased its holdings in shares of Costco Wholesale by 20.4% during the first quarter. Bank & Trust Co now owns 65 shares of the retailer's stock valued at $61,000 after acquiring an additional 11 shares in the last quarter. 68.48% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently commented on COST. Loop Capital decreased their price objective on Costco Wholesale from $1,115.00 to $1,110.00 and set a "buy" rating for the company in a report on Thursday, May 29th. Cfra Research raised Costco Wholesale from a "hold" rating to a "moderate buy" rating in a research report on Friday, April 4th. Telsey Advisory Group reaffirmed an "outperform" rating and set a $1,100.00 price target on shares of Costco Wholesale in a research report on Thursday, July 10th. Evercore ISI dropped their price target on Costco Wholesale from $1,075.00 to $1,060.00 and set an "outperform" rating on the stock in a research report on Tuesday, June 17th. Finally, Morgan Stanley increased their price objective on Costco Wholesale from $1,150.00 to $1,225.00 and gave the stock an "overweight" rating in a report on Friday, May 30th. Nine equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $1,037.48.

Insider Buying and Selling

In related news, EVP Patrick J. Callans sold 3,000 shares of the firm's stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $1,002.77, for a total transaction of $3,008,310.00. Following the transaction, the executive vice president directly owned 58,543 shares in the company, valued at $58,705,164.11. This trade represents a 4.87% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Pierre Riel sold 2,000 shares of Costco Wholesale stock in a transaction that occurred 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 completion of the sale, the executive vice president owned 8,210 shares in the company, valued at approximately $8,326,171.50. This represents a 19.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 9,547 shares of company stock valued at $9,472,510 in the last 90 days. 0.18% of the stock is owned by insiders.

Costco Wholesale Trading Up 0.2%

COST traded up $1.68 on Friday, hitting $935.48. 1,825,525 shares of the company were exchanged, compared to its average volume of 1,969,335. The firm has a fifty day simple moving average of $992.04 and a two-hundred day simple moving average of $983.45. 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 12 month low of $793.00 and a 12 month high of $1,078.23. The stock has a market capitalization of $414.87 billion, a PE ratio of 53.06, a price-to-earnings-growth ratio of 5.81 and a beta of 0.97.

Costco Wholesale (NASDAQ:COST - Get Free Report) last posted its quarterly 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 return on equity of 30.48% and a net margin of 2.92%. The business had revenue of $63.21 billion for the quarter, compared to analyst estimates of $62.93 billion. During the same period last year, the company earned $3.78 EPS. Costco Wholesale's revenue for the quarter was up 8.0% compared to the same quarter last year. Sell-side analysts expect that Costco Wholesale Corporation will post 18.03 earnings per share for the current year.

Costco Wholesale Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Friday, August 1st will be given a dividend of $1.30 per share. The ex-dividend date is Friday, August 1st. This represents a $5.20 annualized dividend and a yield of 0.56%. Costco Wholesale's payout ratio is 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.