Prudential PLC Has $27.86 Million Stock Holdings in Costco Wholesale Corporation (NASDAQ:COST)

Key Points

• Prudential PLC has reduced its holdings in Costco Wholesale Corporation by 5.7%, now owning 29,456 shares valued at approximately $27.86 million.
• Institutional investors own about 68.48% of Costco's stock, indicating strong interest from large financial entities.
• Analyst ratings for Costco remain positive, with eight analysts upgrading their target prices, while the stock currently has an average rating of "Moderate Buy" and a target price of $1,050.00.

Prudential PLC trimmed its holdings in Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 5.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 29,456 shares of the retailer's stock after selling 1,793 shares during the period. Prudential PLC's holdings in Costco Wholesale were worth $27,859,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Personal CFO Solutions LLC lifted its holdings in shares of Costco Wholesale by 12.4% in the first quarter. Personal CFO Solutions LLC now owns 1,519 shares of the retailer's stock valued at $1,436,000 after purchasing an additional 167 shares in the last quarter. F&V Capital Management LLC bought a new stake in shares of Costco Wholesale in the first quarter valued at about $236,000. Graybill Wealth Management LTD. bought a new stake in shares of Costco Wholesale in the first quarter valued at about $3,095,000. Rossmore Private Capital lifted its holdings 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 valued at $6,325,000 after purchasing an additional 62 shares in the last quarter. Finally, Curat Global LLC acquired a new stake in shares of Costco Wholesale in the first quarter valued at about $241,000. 68.48% of the stock is owned by institutional investors and hedge funds.

Costco Wholesale Stock Performance

Shares of COST traded up $2.51 during mid-day trading on Tuesday, hitting $991.25. 1,587,474 shares of the company's stock were exchanged, compared to its average volume of 2,215,102. Costco Wholesale Corporation has a 52 week low of $856.16 and a 52 week high of $1,078.23. The stock's 50-day simple moving average is $975.28 and its 200-day simple moving average is $985.81. The firm has a market cap of $439.60 billion, a price-to-earnings ratio of 56.23, a price-to-earnings-growth ratio of 6.15 and a beta of 0.96. 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 quarterly earnings data on Thursday, May 29th. The retailer reported $4.28 EPS 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 firm had revenue of $63.21 billion for the quarter, compared to analyst estimates of $62.93 billion. During the same quarter last year, the company earned $3.78 EPS. The company's revenue was up 8.0% on a year-over-year basis. On average, equities research analysts expect that Costco Wholesale Corporation will post 18.03 EPS for the current year.

Costco Wholesale Announces Dividend

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 paid a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date is Friday, August 1st. Costco Wholesale's dividend payout ratio (DPR) is 29.50%.

Analyst Ratings Changes

COST has been the topic of a number of recent research reports. Stifel Nicolaus set a $1,035.00 target price on Costco Wholesale in a research report on Thursday, May 29th. Telsey Advisory Group reaffirmed an "outperform" rating and issued a $1,100.00 target price on shares of Costco Wholesale in a research report on Monday, August 4th. Evercore ISI reduced their price target on 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. Wall Street Zen upgraded Costco Wholesale from a "hold" rating to a "buy" rating in a report on Friday, June 6th. Finally, Truist Financial lifted their price target on Costco Wholesale from $995.00 to $1,042.00 and gave the stock a "hold" rating in a report on Friday, May 30th. Ten equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat.com, Costco Wholesale presently has a consensus rating of "Moderate Buy" and an average price target of $1,050.00.

Insider Buying and Selling

In other Costco Wholesale news, Director Susan L. Decker sold 547 shares of the firm's stock in a transaction on Wednesday, June 18th. The stock was sold at an average price of $980.00, for a total transaction of $536,060.00. Following the transaction, the director owned 11,531 shares in the company, valued at $11,300,380. This trade represents a 4.53% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Pierre Riel sold 2,000 shares of the firm's stock in a transaction on 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 transaction, the executive vice president owned 8,210 shares in the company, valued at approximately $8,326,171.50. This trade represents a 19.59% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 9,547 shares of company stock worth $9,472,510 in the last quarter. 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.