Orion Capital Management LLC Boosts Stock Holdings in Costco Wholesale Corporation $COST

Key Points

• Orion Capital Management LLC increased its holdings in Costco Wholesale by 28.6%, now owning 2,401 shares valued at approximately $2.27 million, representing about 1.0% of its portfolio.
• Several large investors, including Bank Pictet & Cie Europe AG, significantly increased their positions in Costco, indicating strong institutional interest in the stock.
• Costco recently announced a quarterly dividend of $1.30 per share, with a payout ratio of 29.50% and an annualized dividend yield of 0.5%.

Orion Capital Management LLC raised its holdings in shares of Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 28.6% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,401 shares of the retailer's stock after buying an additional 534 shares during the quarter. Costco Wholesale comprises about 1.0% of Orion Capital Management LLC's portfolio, making the stock its 20th biggest holding. Orion Capital Management LLC's holdings in Costco Wholesale were worth $2,271,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of COST. Brighton Jones LLC grew its position in Costco Wholesale by 12.3% in the fourth quarter. Brighton Jones LLC now owns 19,825 shares of the retailer's stock worth $18,165,000 after acquiring an additional 2,172 shares during the period. Revolve Wealth Partners LLC grew its position in Costco Wholesale by 13.1% in the fourth quarter. Revolve Wealth Partners LLC now owns 1,123 shares of the retailer's stock worth $1,029,000 after acquiring an additional 130 shares during the period. Bank Pictet & Cie Europe AG grew its position in Costco Wholesale by 45.0% in the fourth 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 grew its position in Costco Wholesale by 0.8% in the fourth 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, Susquehanna Fundamental Investments LLC purchased a new position in Costco Wholesale in the fourth quarter worth approximately $7,571,000. Hedge funds and other institutional investors own 68.48% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on COST shares. Erste Group Bank lowered shares of Costco Wholesale from a "buy" rating to a "hold" rating in a research note on Tuesday, August 5th. Evercore ISI lowered their target price 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. JPMorgan Chase & Co. increased their target price on shares of Costco Wholesale from $1,115.00 to $1,160.00 and gave the stock an "overweight" rating in a research note on Thursday, August 7th. Truist Financial increased their target price 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. Finally, Morgan Stanley raised their price target on Costco Wholesale from $1,150.00 to $1,225.00 and gave the stock an "overweight" rating in a research report on Friday, May 30th. Seventeen equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $1,050.00.

Costco Wholesale Trading Down 1.1%

NASDAQ:COST opened at $958.54 on Monday. The firm has a market cap of $425.09 billion, a PE ratio of 54.37, a price-to-earnings-growth ratio of 5.96 and a beta of 0.96. The stock has a fifty day moving average price of $969.85 and a 200 day moving average price of $984.60. Costco Wholesale Corporation has a 12-month low of $867.16 and a 12-month high of $1,078.23. The company has a current ratio of 1.02, a quick ratio of 0.52 and a debt-to-equity ratio of 0.21.

Costco Wholesale (NASDAQ:COST - Get Free Report) last issued its quarterly earnings results on Thursday, May 29th. The retailer reported $4.28 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.24 by $0.04. Costco Wholesale had a net margin of 2.92% and a return on equity of 30.48%. The company had revenue of $63.21 billion during the quarter, compared to the consensus estimate of $62.93 billion. During the same quarter in the previous year, the firm earned $3.78 earnings per share. The firm's quarterly revenue was up 8.0% on a year-over-year basis. Sell-side analysts anticipate that Costco Wholesale Corporation will post 18.03 earnings per share for the current fiscal year.

Costco Wholesale Announces Dividend

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

Insider Buying and Selling at Costco Wholesale

In other 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 value of $2,028,300.00. Following the completion of the sale, the executive vice president directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Patrick J. Callans sold 3,000 shares of the business's stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $1,002.77, for a total value of $3,008,310.00. Following the completion of the sale, the executive vice president directly owned 58,543 shares of the company's stock, valued at $58,705,164.11. The trade was a 4.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 10,147 shares of company stock worth $10,067,740. 0.18% of the stock is owned by insiders.

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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