Costco Wholesale Corporation (NASDAQ:COST) Stake Trimmed by Westfield Capital Management Co. LP

Key Points

• Westfield Capital Management Co. LP owns a $140.12 million position in Costco Wholesale Corporation, having reduced its stake by 0.2% in the most recent quarter.
• Costco's stock received upgrades from multiple analysts, with an average price target of $1,037.48 and a consensus rating of "Moderate Buy."
• The company will pay a quarterly dividend of $1.30 per share on August 15th, representing an annual yield of 0.5% and a payout ratio of 29.50%.

Westfield Capital Management Co. LP reduced its stake in shares of Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 0.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 148,156 shares of the retailer's stock after selling 358 shares during the period. Westfield Capital Management Co. LP's holdings in Costco Wholesale were worth $140,123,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the business. MWA Asset Management raised its holdings in Costco Wholesale by 1.8% in the first quarter. MWA Asset Management now owns 4,232 shares of the retailer's stock valued at $4,002,000 after buying an additional 73 shares during the period. Silver Coast Investments LLC acquired a new stake in Costco Wholesale in the first quarter valued at approximately $261,000. Probity Advisors Inc. acquired a new stake in Costco Wholesale in the first quarter valued at approximately $221,000. ING Groep NV grew its position in Costco Wholesale by 26.9% in the first quarter. ING Groep NV now owns 97,319 shares of the retailer's stock valued at $92,042,000 after acquiring an additional 20,605 shares in the last quarter. Finally, Earned Wealth Advisors LLC grew its position in Costco Wholesale by 138.0% in the first quarter. Earned Wealth Advisors LLC now owns 3,094 shares of the retailer's stock valued at $2,926,000 after acquiring an additional 1,794 shares in the last quarter. Hedge funds and other institutional investors own 68.48% of the company's stock.

Costco Wholesale Stock Performance

Shares of NASDAQ COST traded down $8.62 during midday trading on Tuesday, reaching $946.75. 984,692 shares of the company traded hands, compared to its average volume of 2,209,719. Costco Wholesale Corporation has a 52 week low of $805.06 and a 52 week high of $1,078.23. The stock has a 50-day moving average price of $982.28 and a 200 day moving average price of $984.78. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.02 and a quick ratio of 0.52. The company has a market cap of $419.86 billion, a price-to-earnings ratio of 53.84, a PEG ratio of 5.92 and a beta of 0.96.

Costco Wholesale (NASDAQ:COST - Get Free Report) last issued its quarterly earnings data 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. Costco Wholesale had a net margin of 2.92% and a return on equity of 30.48%. The business had revenue of $63.21 billion for the quarter, compared to analysts' expectations of $62.93 billion. During the same period in the previous year, the business earned $3.78 earnings per share. The company's revenue was up 8.0% on a year-over-year basis. Sell-side analysts anticipate that Costco Wholesale Corporation will post 18.03 earnings per share for the current fiscal year.

Costco Wholesale Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Investors 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 dividend yield of 0.5%. The ex-dividend date is Friday, August 1st. Costco Wholesale's payout ratio is currently 29.50%.

Insider Activity at Costco Wholesale

In other Costco Wholesale news, EVP Yoram Rubanenko sold 4,000 shares of the business's 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 sale, the executive vice president directly owned 5,774 shares in the company, valued at approximately $5,629,419.04. The trade was a 40.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Patrick J. Callans sold 3,000 shares of the business's stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $1,002.77, for a total transaction of $3,008,310.00. Following the completion of the sale, the executive vice president owned 58,543 shares in the company, valued at approximately $58,705,164.11. This trade represents a 4.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 9,547 shares of company stock valued at $9,472,510 in the last ninety days. Company insiders own 0.18% of the company's stock.

Analysts Set New Price Targets

Several analysts have issued reports on COST shares. Erste Group Bank downgraded shares of Costco Wholesale from a "buy" rating to a "hold" rating in a research report on Tuesday. Telsey Advisory Group reaffirmed an "outperform" rating and issued a $1,100.00 price objective on shares of Costco Wholesale in a research report on Monday. Stifel Nicolaus set a $1,035.00 price objective on shares of Costco Wholesale in a research report on Thursday, May 29th. Wall Street Zen raised shares of Costco Wholesale from a "hold" rating to a "buy" rating in a research report on Friday, June 6th. Finally, Mizuho initiated coverage on shares of Costco Wholesale in a research report on Friday, April 11th. They set a "neutral" rating and a $975.00 price target for the company. Ten research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $1,037.48.

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.