Costco Wholesale Corporation (NASDAQ:COST) Shares Bought by Public Sector Pension Investment Board

Key Points

• The Public Sector Pension Investment Board increased its holdings in Costco Wholesale by 19.1% in Q1, owning a total of 119,464 shares valued at approximately $112.99 million.
• Costco reported $4.28 EPS this past quarter, beating analysts’ expectations, with revenue reaching $63.21 billion, up 8.0% year-over-year.
• The company announced a quarterly dividend of $1.30 per share to be paid on August 15th, representing an annualized yield of 0.5%.

Public Sector Pension Investment Board boosted its stake in shares of Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 19.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 119,464 shares of the retailer's stock after purchasing an additional 19,186 shares during the period. Public Sector Pension Investment Board's holdings in Costco Wholesale were worth $112,987,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Investment Management Corp VA ADV purchased a new stake in Costco Wholesale during the fourth quarter valued at approximately $25,000. Aspect Partners LLC lifted its position in Costco Wholesale by 24.4% during the first 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 last quarter. Capital A Wealth Management LLC bought a new stake in shares of Costco Wholesale in the 4th quarter worth about $58,000. Mascagni Wealth Management Inc. bought a new stake in shares of Costco Wholesale in the 4th quarter worth about $59,000. Finally, Bank & Trust Co lifted its holdings in shares of Costco Wholesale by 20.4% in the 1st quarter. Bank & Trust Co now owns 65 shares of the retailer's stock worth $61,000 after acquiring an additional 11 shares during the last quarter. Institutional investors own 68.48% of the company's stock.

Costco Wholesale Stock Performance

NASDAQ:COST traded up $2.51 during midday trading on Tuesday, reaching $991.25. The stock had a trading volume of 1,587,474 shares, compared to its average volume of 2,215,102. The stock has a market cap of $439.60 billion, a P/E ratio of 56.23, a P/E/G ratio of 6.15 and a beta of 0.96. Costco Wholesale Corporation has a 12-month low of $856.16 and a 12-month high of $1,078.23. The firm has a fifty day simple moving average of $975.28 and a two-hundred day simple moving average of $985.81. 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 issued its 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. 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%. The business's revenue was up 8.0% on a year-over-year basis. During the same period in the previous year, the firm earned $3.78 EPS. On average, equities analysts expect that Costco Wholesale Corporation will post 18.03 EPS for the current year.

Costco Wholesale Dividend Announcement

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

Insider Activity

In related 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 transaction, the executive vice president 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Yoram Rubanenko sold 4,000 shares of Costco Wholesale stock in a transaction dated Monday, July 14th. The shares were sold at an average price of $974.96, for a total value of $3,899,840.00. Following the completion of the sale, 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. Over the last quarter, insiders sold 9,547 shares of company stock worth $9,472,510. Company insiders own 0.18% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. JPMorgan Chase & Co. raised their price target 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. Telsey Advisory Group reiterated an "outperform" rating and issued a $1,100.00 target price on shares of Costco Wholesale in a research note on Monday, August 4th. Stifel Nicolaus set a $1,035.00 price objective on shares of Costco Wholesale in a research note on Thursday, May 29th. Wall Street Zen raised shares of Costco Wholesale from a "hold" rating to a "buy" rating in a report on Friday, June 6th. Finally, Morgan Stanley lifted their target price 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. Ten investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $1,050.00.

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.