Wright Investors Service Inc. Has $3.13 Million Stock Position in Costco Wholesale Corporation $COST

Key Points

• Wright Investors Service Inc. increased its position in Costco by 33.8%, owning a total of 3,159 shares valued at approximately $3.1 million.
• Costco declared a quarterly dividend of $1.30 per share, which reflects an annualized dividend yield of 0.5%.
• Analysts have raised their price targets for Costco shares, with Morgan Stanley now targeting $1,225.00, suggesting a strong bullish outlook from multiple research firms.

Wright Investors Service Inc. grew its holdings in Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 33.8% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,159 shares of the retailer's stock after buying an additional 798 shares during the quarter. Wright Investors Service Inc.'s holdings in Costco Wholesale were worth $3,127,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Corps Capital Advisors LLC raised its stake in shares of Costco Wholesale by 0.7% in the 1st quarter. Corps Capital Advisors LLC now owns 1,547 shares of the retailer's stock valued at $1,463,000 after buying an additional 10 shares in the last quarter. Covestor Ltd boosted its position in Costco Wholesale by 8.6% during the first quarter. Covestor Ltd now owns 126 shares of the retailer's stock valued at $119,000 after purchasing an additional 10 shares during the last quarter. Rooted Wealth Advisors Inc. grew its stake in Costco Wholesale by 2.6% in the first quarter. Rooted Wealth Advisors Inc. now owns 441 shares of the retailer's stock valued at $404,000 after purchasing an additional 11 shares in the last quarter. Bank & Trust Co lifted its holdings in Costco Wholesale by 20.4% during the 1st quarter. Bank & Trust Co now owns 65 shares of the retailer's stock worth $61,000 after purchasing an additional 11 shares during the last quarter. Finally, Amplius Wealth Advisors LLC grew its stake in shares of Costco Wholesale by 1.3% during the first quarter. Amplius Wealth Advisors LLC now owns 866 shares of the retailer's stock worth $819,000 after buying an additional 11 shares during the last quarter. 68.48% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Costco Wholesale

In other Costco Wholesale news, 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 value 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 $5,629,419.04. This represents a 40.92% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Teresa A. Jones sold 600 shares of the business's stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $992.05, for a total value of $595,230.00. Following the transaction, the executive vice president owned 2,362 shares of the company's stock, valued at approximately $2,343,222.10. The trade was a 20.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.18% of the stock is currently owned by company insiders.

Costco Wholesale Stock Down 0.1%

COST stock traded down $1.20 during midday trading on Friday, hitting $951.16. 4,601,598 shares of the company's stock were exchanged, compared to its average volume of 1,990,076. The company has a current ratio of 1.02, a quick ratio of 0.52 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $421.82 billion, a price-to-earnings ratio of 53.95, a price-to-earnings-growth ratio of 5.34 and a beta of 0.97. Costco Wholesale Corporation has a 12-month low of $867.16 and a 12-month high of $1,078.23. The firm has a 50 day moving average price of $957.97 and a 200-day moving average price of $971.70.

Costco Wholesale Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on COST. Truist Financial increased their price objective on Costco Wholesale from $995.00 to $1,042.00 and gave the company a "hold" rating in a research note on Friday, May 30th. Evercore ISI reduced their price target on 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. Erste Group Bank cut Costco Wholesale from a "buy" rating to a "hold" rating in a report on Tuesday, August 5th. Loop Capital reduced their price objective on shares of Costco Wholesale from $1,115.00 to $1,110.00 and set a "buy" rating for the company in a research report on Thursday, May 29th. Finally, Stifel Nicolaus set a $1,035.00 target price on shares of Costco Wholesale in a report on Thursday, May 29th. Seventeen investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $1,056.67.

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.