Northwestern Mutual Wealth Management Co. Acquires 3,989 Shares of Costco Wholesale Corporation $COST

Key Points

• Northwestern Mutual Wealth Management Co. increased its stake in Costco Wholesale Corporation by 2.3%, acquiring an additional 3,989 shares, bringing its total holdings to 181,008 shares valued at approximately $171.2 million.
• A wave of institutional investors has adjusted their positions in Costco, with 68.48% of the stock now held by such investors, reflecting strong ongoing interest in the company.
• Costco recently announced a quarterly dividend of $1.30 per share, which represents a 0.5% yield, alongside solid earnings performance exceeding analysts' expectations.

Northwestern Mutual Wealth Management Co. grew its holdings in Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 2.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 181,008 shares of the retailer's stock after acquiring an additional 3,989 shares during the period. Northwestern Mutual Wealth Management Co.'s holdings in Costco Wholesale were worth $171,194,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Personal CFO Solutions LLC raised its position 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 acquiring an additional 167 shares during the period. F&V Capital Management LLC purchased a new stake in shares of Costco Wholesale in the first quarter worth $236,000. Graybill Wealth Management LTD. purchased a new stake in shares of Costco Wholesale in the first quarter worth $3,095,000. Rossmore Private Capital increased its stake in shares of Costco Wholesale by 0.9% in the first quarter. Rossmore Private Capital now owns 6,687 shares of the retailer's stock worth $6,325,000 after purchasing an additional 62 shares in the last quarter. Finally, Curat Global LLC purchased a new stake in shares of Costco Wholesale in the first quarter worth $241,000. 68.48% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on COST shares. Wall Street Zen raised shares of Costco Wholesale from a "hold" rating to a "buy" rating in a research note on Friday, June 6th. Truist Financial increased their price objective 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. Erste Group Bank cut shares of Costco Wholesale from a "buy" rating to a "hold" rating in a research note on Tuesday, August 5th. Evercore ISI reduced 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 research note on Tuesday, June 17th. Finally, JPMorgan Chase & Co. raised their target price on shares of Costco Wholesale from $1,115.00 to $1,160.00 and gave the company an "overweight" rating in a research note on Thursday, August 7th. Seventeen research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $1,050.00.

Costco Wholesale Stock Performance

COST opened at $958.54 on Friday. The stock has a market capitalization of $425.09 billion, a price-to-earnings ratio of 54.37, a PEG ratio of 6.03 and a beta of 0.96. The company has a fifty day moving average of $969.85 and a 200 day moving average of $985.46. Costco Wholesale Corporation has a fifty-two week low of $867.16 and a fifty-two week high of $1,078.23. 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 (NASDAQ:COST - Get Free Report) last released its quarterly earnings data on Thursday, May 29th. The retailer reported $4.28 EPS for the quarter, beating the consensus estimate of $4.24 by $0.04. Costco Wholesale had a net margin of 2.92% and a return on equity of 30.48%. The business had revenue of $63.21 billion during the quarter, compared to analyst estimates of $62.93 billion. During the same quarter last year, the business earned $3.78 earnings per share. Costco Wholesale's quarterly revenue was up 8.0% compared to the same quarter last year. As a group, sell-side analysts forecast that Costco Wholesale Corporation will post 18.03 earnings per share for the current fiscal year.

Costco Wholesale Announces Dividend

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

Insider Buying and Selling at Costco Wholesale

In other Costco Wholesale news, EVP Patrick J. Callans sold 3,000 shares of the stock in a transaction on Monday, June 9th. The shares were sold at an average price of $1,002.77, for a total transaction 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 trade represents a 4.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Yoram Rubanenko sold 4,000 shares of the 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 transaction, the executive vice president owned 5,774 shares of the company's stock, valued at $5,629,419.04. This trade represents a 40.92% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 10,147 shares of company stock valued at $10,067,740 over the last ninety days. Corporate insiders own 0.18% of the company's stock.

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.

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