Wellington Management Group LLP Purchases 43,539 Shares of Costco Wholesale Corporation $COST

Key Points

• Wellington Management Group LLP increased its stake in Costco Wholesale by 26.6%, owning 207,426 shares valued at $196.18 million as of the end of the most recent quarter.
• Other institutional investors also significantly boosted their holdings in Costco, with GAMMA Investing LLC increasing its stake by over 106,000% to own 8.16 million shares valued at approximately $7.72 billion.
• Costco's latest quarterly earnings report showed earnings per share of $4.28, beating analyst expectations, with revenues growing by 8% year-over-year to $63.21 billion.

Wellington Management Group LLP lifted its holdings in shares of Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 26.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 207,426 shares of the retailer's stock after purchasing an additional 43,539 shares during the quarter. Wellington Management Group LLP's holdings in Costco Wholesale were worth $196,179,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Investment Management Corp VA ADV acquired a new position in shares of Costco Wholesale during the 4th quarter worth $25,000. Aspect Partners LLC grew its stake in 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 buying an additional 11 shares during the last quarter. Capital A Wealth Management LLC acquired a new position in Costco Wholesale in the 4th quarter valued at $58,000. Mascagni Wealth Management Inc. acquired a new position in Costco Wholesale in the 4th quarter valued at $59,000. Finally, Bank & Trust Co grew its stake in 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 buying an additional 11 shares during the last quarter. Institutional investors and hedge funds own 68.48% of the company's stock.

Insider Activity at Costco Wholesale

In other news, EVP Pierre Riel sold 2,000 shares of the firm's stock in a transaction dated 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 completion of the transaction, the executive vice president directly owned 8,210 shares of the company's stock, valued at approximately $8,326,171.50. This trade represents a 19.59% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Yoram Rubanenko sold 4,000 shares of the firm'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 transaction, the executive vice president directly owned 5,774 shares of the company's stock, valued at $5,629,419.04. The trade was a 40.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 10,147 shares of company stock worth $10,067,740 in the last ninety days. Company insiders own 0.18% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Truist Financial raised their target price 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. 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. JPMorgan Chase & Co. raised their target price on shares of Costco Wholesale from $1,115.00 to $1,160.00 and gave the company an "overweight" rating in a research note on Thursday, August 7th. Evercore ISI lowered their target price 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. Finally, Morgan Stanley raised 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 research note on Friday, May 30th. Seventeen research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $1,050.00.

Costco Wholesale Price Performance

Shares of NASDAQ:COST traded down $11.14 during midday trading on Friday, reaching $958.54. 3,132,045 shares of the company's stock were exchanged, compared to its average volume of 2,129,634. The company's 50 day simple moving average is $969.85 and its two-hundred day simple moving average is $985.46. The firm has a market capitalization of $425.09 billion, a PE ratio of 54.37, a price-to-earnings-growth ratio of 6.03 and a beta of 0.96. Costco Wholesale Corporation has a 12 month low of $867.16 and a 12 month high of $1,078.23. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.52 and a current ratio of 1.02.

Costco Wholesale (NASDAQ:COST - Get Free Report) last released 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. The company had revenue of $63.21 billion during the quarter, compared to the consensus estimate of $62.93 billion. Costco Wholesale had a net margin of 2.92% and a return on equity of 30.48%. The firm's revenue for the quarter was up 8.0% compared to the same quarter last year. During the same period last year, the firm earned $3.78 EPS. Equities research analysts expect that Costco Wholesale Corporation will post 18.03 earnings per share for the current fiscal year.

Costco Wholesale Dividend Announcement

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

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.