Ontario Teachers Pension Plan Board Has $1.80 Million Stake in Costco Wholesale Corporation (NASDAQ:COST)

Key Points

• Ontario Teachers Pension Plan Board has reduced its stake in Costco Wholesale by 15.2%, selling 341 shares and leaving it with a total of 1,904 shares valued at approximately $1.8 million.
• Costco has announced a quarterly dividend of $1.30 per share scheduled for distribution on August 15th, reflecting an annualized yield of 0.5%.
• Recent analyst ratings indicate a consensus target price of $1,040.81 for Costco, with several firms upgrading their ratings and price targets.

Ontario Teachers Pension Plan Board decreased its holdings in Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 15.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,904 shares of the retailer's stock after selling 341 shares during the quarter. Ontario Teachers Pension Plan Board's holdings in Costco Wholesale were worth $1,801,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Brighton Jones LLC increased its holdings in shares of Costco Wholesale by 12.3% in the 4th quarter. Brighton Jones LLC now owns 19,825 shares of the retailer's stock valued at $18,165,000 after purchasing an additional 2,172 shares in the last quarter. Revolve Wealth Partners LLC boosted its stake in shares of Costco Wholesale by 13.1% during the 4th quarter. Revolve Wealth Partners LLC now owns 1,123 shares of the retailer's stock worth $1,029,000 after purchasing an additional 130 shares during the last quarter. Bank Pictet & Cie Europe AG lifted its holdings in shares of Costco Wholesale by 45.0% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 117,254 shares of the retailer's stock worth $107,436,000 after acquiring an additional 36,384 shares during the period. Highview Capital Management LLC DE lifted its holdings in shares of Costco Wholesale by 0.8% during the 4th quarter. Highview Capital Management LLC DE now owns 4,813 shares of the retailer's stock worth $4,410,000 after acquiring an additional 40 shares during the period. Finally, Hudson Value Partners LLC lifted its holdings in shares of Costco Wholesale by 5.7% during the 4th quarter. Hudson Value Partners LLC now owns 8,501 shares of the retailer's stock worth $7,789,000 after acquiring an additional 455 shares during the period. Hedge funds and other institutional investors own 68.48% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Stifel Nicolaus set a $1,035.00 price objective on shares of Costco Wholesale in a report on Thursday, May 29th. Morgan Stanley raised 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. Mizuho started coverage on shares of Costco Wholesale in a report on Friday, April 11th. They issued a "neutral" rating and a $975.00 price target on the stock. Truist Financial raised their price target on shares of Costco Wholesale from $995.00 to $1,042.00 and gave the company a "hold" rating in a report on Friday, May 30th. Finally, 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 report on Tuesday, June 17th. Ten investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $1,050.00.

Insider Buying and Selling

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 stock was sold at an average price of $1,014.15, for a total transaction of $2,028,300.00. Following the sale, the executive vice president owned 8,210 shares in the company, valued at approximately $8,326,171.50. The trade was a 19.59% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Patrick J. Callans sold 3,000 shares of the business's stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $1,002.77, for a total value of $3,008,310.00. Following the sale, the executive vice president owned 58,543 shares in the company, valued at approximately $58,705,164.11. The trade was a 4.87% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 9,547 shares of company stock worth $9,472,510 in the last quarter. 0.18% of the stock is currently owned by corporate insiders.

Costco Wholesale Stock Performance

Shares of NASDAQ COST traded up $3.53 during midday trading on Friday, reaching $980.98. 2,188,224 shares of the company traded hands, compared to its average volume of 2,172,175. Costco Wholesale Corporation has a 52 week low of $837.63 and a 52 week high of $1,078.23. The stock has a 50-day moving average price of $977.93 and a 200 day moving average price of $984.85. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.02 and a quick ratio of 0.52. The company has a market cap of $435.05 billion, a price-to-earnings ratio of 55.64, a PEG ratio of 6.08 and a beta of 0.96.

Costco Wholesale (NASDAQ:COST - Get Free Report) last issued its quarterly earnings results on Thursday, May 29th. The retailer reported $4.28 EPS for the quarter, topping 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 firm had revenue of $63.21 billion for the quarter, compared to analysts' expectations of $62.93 billion. During the same period in the previous year, the business earned $3.78 earnings per share. Costco Wholesale's revenue for the quarter was up 8.0% compared to the same quarter last year. Sell-side analysts anticipate that Costco Wholesale Corporation will post 18.03 earnings per share for the current fiscal year.

Costco Wholesale Dividend Announcement

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

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.