National Bank of Canada FI Has $768.11 Million Stock Position in Costco Wholesale Corporation (NASDAQ:COST)

Key Points

• National Bank of Canada FI has significantly increased its stake in Costco Wholesale Corporation by 84.0%, holding approximately 812,188 shares valued at $768 million.
• Several institutional investors have also increased their positions in Costco, collectively boosting their holdings during the fourth quarter, with institutional ownership now at 68.48%.
• Costco recently announced a quarterly dividend of $1.30 per share, with an annualized dividend yield of 0.5% and a dividend payout ratio of 29.50%.

National Bank of Canada FI boosted its position in Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 84.0% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 812,188 shares of the retailer's stock after purchasing an additional 370,806 shares during the period. Costco Wholesale makes up about 0.8% of National Bank of Canada FI's portfolio, making the stock its 21st largest holding. National Bank of Canada FI owned 0.18% of Costco Wholesale worth $768,114,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Investment Management Corp VA ADV bought a new position in shares of Costco Wholesale in the fourth quarter valued at $25,000. Aspect Partners LLC raised its stake in Costco Wholesale by 24.4% during the 1st quarter. Aspect Partners LLC now owns 56 shares of the retailer's stock valued at $53,000 after purchasing an additional 11 shares during the period. Capital A Wealth Management LLC acquired a new stake in Costco Wholesale during the 4th quarter valued at $58,000. Mascagni Wealth Management Inc. acquired a new stake in Costco Wholesale during the 4th quarter valued at $59,000. Finally, Bank & Trust Co raised its stake in Costco Wholesale by 20.4% during the 1st quarter. Bank & Trust Co now owns 65 shares of the retailer's stock valued at $61,000 after purchasing an additional 11 shares during the period. Institutional investors own 68.48% of the company's stock.

Insider Activity at Costco Wholesale

In other Costco Wholesale news, EVP Pierre Riel sold 2,000 shares of the business's stock in a transaction dated Friday, June 6th. The shares were 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 of the company's stock, valued at $8,326,171.50. The trade was a 19.59% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Susan L. Decker sold 547 shares of the business's stock in a transaction dated Wednesday, June 18th. The shares were 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 of the company's stock, valued at $11,300,380. This represents a 4.53% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 9,547 shares of company stock worth $9,472,510. 0.18% of the stock is currently owned by corporate insiders.

Costco Wholesale Stock Up 0.4%

COST stock traded up $3.53 during midday trading on Friday, hitting $980.98. The company's stock had a trading volume of 2,188,224 shares, compared to its average volume of 2,172,175. 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 twelve month low of $837.63 and a twelve month high of $1,078.23. The company's fifty day moving average price is $977.93 and its 200 day moving average price is $984.85. The stock has a market capitalization of $435.05 billion, a P/E ratio of 55.64, a PEG ratio of 6.08 and a beta of 0.96.

Costco Wholesale (NASDAQ:COST - Get Free Report) last released its quarterly earnings data on Thursday, May 29th. The retailer reported $4.28 earnings per share for the quarter, topping the consensus estimate of $4.24 by $0.04. The company had revenue of $63.21 billion for the quarter, compared to analyst estimates of $62.93 billion. Costco Wholesale had a net margin of 2.92% and a return on equity of 30.48%. Costco Wholesale's revenue for the quarter was up 8.0% compared to the same quarter last year. During the same period in the previous year, the business earned $3.78 EPS. As a group, equities research analysts predict that Costco Wholesale Corporation will post 18.03 EPS for the current year.

Costco Wholesale Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Friday, August 1st will be issued a dividend of $1.30 per share. The ex-dividend date of this dividend is Friday, August 1st. This represents a $5.20 annualized dividend and a dividend yield of 0.5%. Costco Wholesale's payout ratio is presently 29.50%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on COST shares. Loop Capital decreased their price objective on shares of 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. Evercore ISI decreased their price objective on shares of Costco Wholesale from $1,075.00 to $1,060.00 and set an "outperform" rating for the company in a report on Tuesday, June 17th. JPMorgan Chase & Co. upped their price target on shares of Costco Wholesale from $1,115.00 to $1,160.00 and gave the company an "overweight" rating in a report on Thursday. Morgan Stanley upped 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. Finally, Erste Group Bank cut shares of Costco Wholesale from a "buy" rating to a "hold" rating in a report on Tuesday. Ten equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $1,040.81.

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.