Metis Global Partners LLC Acquires 2,467 Shares of Costco Wholesale Corporation (NASDAQ:COST)

Key Points

• Metis Global Partners LLC increased its stake in Costco by 11.2%, now holding 24,422 shares valued at $23,098,000, making Costco its 23rd largest position.
• Costco recently disclosed a quarterly dividend of $1.30 per share, which will be paid on August 15th, reflecting an annualized dividend yield of 0.56%.
• The stock has received mixed ratings from analysts, with an average rating of "Moderate Buy" and an average price target of $1,037.48, as several analysts adjust their outlooks.

Metis Global Partners LLC raised its holdings in shares of Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 11.2% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 24,422 shares of the retailer's stock after acquiring an additional 2,467 shares during the period. Costco Wholesale makes up 0.6% of Metis Global Partners LLC's holdings, making the stock its 23rd largest position. Metis Global Partners LLC's holdings in Costco Wholesale were worth $23,098,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in COST. Personal CFO Solutions LLC raised its holdings in Costco Wholesale by 12.4% in the first quarter. Personal CFO Solutions LLC now owns 1,519 shares of the retailer's stock worth $1,436,000 after purchasing an additional 167 shares during the period. Geode Capital Management LLC increased its position in shares of Costco Wholesale by 2.7% in the 4th quarter. Geode Capital Management LLC now owns 9,739,175 shares of the retailer's stock valued at $8,901,249,000 after buying an additional 252,118 shares in the last quarter. F&V Capital Management LLC bought a new stake in shares of Costco Wholesale in the 1st quarter valued at $236,000. Graybill Wealth Management LTD. acquired a new stake in Costco Wholesale during the 1st quarter worth $3,095,000. Finally, Curat Global LLC bought a new position in Costco Wholesale during the first quarter worth about $241,000. Institutional investors and hedge funds own 68.48% of the company's stock.

Analyst Ratings Changes

COST has been the subject of several recent analyst reports. Mizuho started coverage on Costco Wholesale in a report on Friday, April 11th. They issued a "neutral" rating and a $975.00 price target for the company. Wall Street Zen raised Costco Wholesale from a "hold" rating to a "buy" rating in a research note on Friday, June 6th. Evercore ISI cut their price target on shares of Costco Wholesale from $1,075.00 to $1,060.00 and set an "outperform" rating on the stock in a research note on Tuesday, June 17th. Stifel Nicolaus set a $1,035.00 price objective on shares of Costco Wholesale in a report on Thursday, May 29th. Finally, Telsey Advisory Group reaffirmed an "outperform" rating and issued a $1,100.00 target price on shares of Costco Wholesale in a research note on Thursday, July 10th. Nine equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $1,037.48.

Costco Wholesale Price Performance

NASDAQ:COST opened at $935.48 on Friday. Costco Wholesale Corporation has a 12-month low of $793.00 and a 12-month high of $1,078.23. The firm has a market capitalization of $414.86 billion, a price-to-earnings ratio of 53.06, a P/E/G ratio of 5.82 and a beta of 0.97. The stock's 50 day moving average price is $992.04 and its two-hundred day moving average price is $983.84. The company has a quick ratio of 0.52, a current ratio of 1.02 and a debt-to-equity ratio of 0.21.

Costco Wholesale (NASDAQ:COST - Get Free Report) last posted its earnings results on Thursday, May 29th. The retailer reported $4.28 earnings per share for the quarter, topping analysts' consensus estimates 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 in the previous year, the firm earned $3.78 EPS. The firm's revenue was up 8.0% compared to the same quarter last year. On average, analysts anticipate that Costco Wholesale Corporation will post 18.03 earnings per share for the current year.

Costco Wholesale Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Friday, August 1st will be given a $1.30 dividend. This represents a $5.20 annualized dividend and a dividend yield of 0.56%. The ex-dividend date is Friday, August 1st. Costco Wholesale's payout ratio is presently 29.50%.

Insider Activity at Costco Wholesale

In related news, EVP Pierre Riel sold 2,000 shares of Costco Wholesale stock in a transaction dated 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 completion of the sale, the executive vice president owned 8,210 shares of the company's stock, valued at approximately $8,326,171.50. The trade was a 19.59% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Yoram Rubanenko sold 4,000 shares of the company's stock in a transaction dated 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 in the company, valued at approximately $5,629,419.04. This trade represents a 40.92% decrease in their position. The disclosure for this sale can be found here. Insiders sold 9,547 shares of company stock valued at $9,472,510 over the last three months. Company insiders own 0.18% of the company's stock.

Costco Wholesale 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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