USS Investment Management Ltd Cuts Stake in Costco Wholesale Corporation $COST

Key Points

• USS Investment Management Ltd reduced its stake in Costco Wholesale Corporation by 15.6%, ending the first quarter with 70,049 shares valued at $66.25 million.
• Other institutional investors, such as Brighton Jones LLC and Bank Pictet & Cie Europe AG, have increased their holdings in Costco, reflecting a strong interest from financial entities.
• Costco recently declared a quarterly dividend of $1.30 per share, with a payout ratio of 29.50%, indicating a stable return for shareholders.

USS Investment Management Ltd lowered its position in shares of Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 15.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 70,049 shares of the retailer's stock after selling 12,900 shares during the period. USS Investment Management Ltd's holdings in Costco Wholesale were worth $66,250,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in COST. Personal CFO Solutions LLC increased its holdings in Costco Wholesale by 12.4% during the 1st 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 during the period. F&V Capital Management LLC purchased a new position in Costco Wholesale during the 1st quarter valued at about $236,000. Graybill Wealth Management LTD. bought a new position in Costco Wholesale in the first quarter worth about $3,095,000. Rossmore Private Capital raised its stake in Costco Wholesale by 0.9% in the first quarter. Rossmore Private Capital now owns 6,687 shares of the retailer's stock worth $6,325,000 after buying an additional 62 shares in the last quarter. Finally, Curat Global LLC bought a new position in Costco Wholesale in the first quarter worth about $241,000. Institutional investors own 68.48% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on COST shares. Telsey Advisory Group reissued an "outperform" rating and issued a $1,100.00 price target on shares of Costco Wholesale in a research note on Wednesday, August 27th. Loop Capital decreased their price target on shares of Costco Wholesale from $1,115.00 to $1,110.00 and set a "buy" rating for the company in a research note on Thursday, May 29th. Stifel Nicolaus set a $1,035.00 price target on Costco Wholesale in a research note on Thursday, May 29th. JPMorgan Chase & Co. raised their price target on shares of Costco Wholesale from $1,115.00 to $1,160.00 and gave the company an "overweight" rating in a research report on Thursday, August 7th. Finally, 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 research report on Friday, May 30th. Seventeen equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $1,056.67.

Costco Wholesale Trading Up 0.4%

Shares of NASDAQ:COST traded up $3.99 during trading on Thursday, reaching $960.28. 608,169 shares of the company were exchanged, compared to its average volume of 2,192,504. The firm has a market capitalization of $425.86 billion, a PE ratio of 54.48, a P/E/G ratio of 5.51 and a beta of 0.97. The business's fifty day simple moving average is $961.21 and its 200-day simple moving average is $976.13. 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 12-month low of $867.16 and a 12-month high of $1,078.23.

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

Insider Activity

In other Costco Wholesale news, EVP Teresa A. Jones sold 600 shares of the company's stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $992.05, for a total value of $595,230.00. Following the completion of the transaction, the executive vice president owned 2,362 shares in the company, valued at approximately $2,343,222.10. This represents a 20.26% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Yoram Rubanenko sold 4,000 shares of the company's stock in a transaction dated Monday, July 14th. The stock was sold at an average price of $974.96, for a total transaction of $3,899,840.00. Following the completion of the transaction, the executive vice president owned 5,774 shares of the company's stock, valued at approximately $5,629,419.04. This trade represents a 40.92% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,147 shares of company stock valued at $5,031,130 over the last ninety days. 0.18% of the stock is currently owned by insiders.

Costco Wholesale Company 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.