Costco Wholesale Corporation $COST Stake Lessened by State of New Jersey Common Pension Fund D

Key Points

• The State of New Jersey Common Pension Fund D has reduced its stake in Costco Wholesale Corporation by 8.1%, now holding 150,161 shares worth approximately $142 million.
• Costco recently reported quarterly earnings of $4.28 per share, exceeding expectations, with revenues of $63.21 billion for the quarter, up 8% year-over-year.
• The company has announced a quarterly dividend of $1.30 per share, with a payout ratio of 29.5%, highlighting its commitment to returning value to shareholders.

State of New Jersey Common Pension Fund D decreased its stake in Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 8.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 150,161 shares of the retailer's stock after selling 13,289 shares during the period. Costco Wholesale accounts for 0.6% of State of New Jersey Common Pension Fund D's investment portfolio, making the stock its 21st largest holding. State of New Jersey Common Pension Fund D's holdings in Costco Wholesale were worth $142,019,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of COST. Investment Management Corp VA ADV purchased a new position in Costco Wholesale during the 4th quarter worth $25,000. Aspect Partners LLC increased its holdings in shares of Costco Wholesale by 24.4% in the 1st quarter. Aspect Partners LLC now owns 56 shares of the retailer's stock valued at $53,000 after purchasing an additional 11 shares in the last quarter. Capital A Wealth Management LLC purchased a new position in shares of Costco Wholesale in the 4th quarter valued at about $58,000. Mascagni Wealth Management Inc. purchased a new position in shares of Costco Wholesale in the 4th quarter valued at about $59,000. Finally, Bank & Trust Co increased 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 valued at $61,000 after purchasing an additional 11 shares in the last quarter. Institutional investors and hedge funds own 68.48% of the company's stock.

Costco Wholesale Trading Up 0.8%

COST stock traded up $7.31 during midday trading on Monday, reaching $979.35. 2,065,478 shares of the company's stock traded hands, compared to its average volume of 2,205,233. The company has a market capitalization of $434.32 billion, a P/E ratio of 55.55, a PEG ratio of 6.04 and a beta of 0.96. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.02 and a quick ratio of 0.52. Costco Wholesale Corporation has a fifty-two week low of $867.16 and a fifty-two week high of $1,078.23. The business has a 50-day moving average price of $972.25 and a two-hundred day moving average price of $986.13.

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

Costco Wholesale Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on COST shares. Telsey Advisory Group reiterated an "outperform" rating and issued a $1,100.00 price target on shares of Costco Wholesale in a report on Monday, August 4th. Truist Financial increased their price objective on shares of Costco Wholesale from $995.00 to $1,042.00 and gave the company a "hold" rating in a research note on Friday, May 30th. 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 research note on Friday, June 6th. Finally, Evercore ISI lowered their price objective on shares of Costco Wholesale from $1,075.00 to $1,060.00 and set an "outperform" rating on the stock in a research note on Tuesday, June 17th. Ten equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $1,050.00.

Insider Activity

In other news, EVP Pierre Riel sold 2,000 shares of Costco Wholesale stock in a transaction that occurred on Friday, June 6th. The shares were 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 $8,326,171.50. This trade represents a 19.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Patrick J. Callans sold 3,000 shares of Costco Wholesale stock in a transaction that occurred 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 sale, the executive vice president owned 58,543 shares in the company, valued at $58,705,164.11. This represents a 4.87% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 9,547 shares of company stock worth $9,472,510. Company 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.