Investment Management Corp of Ontario Has $30.23 Million Position in Costco Wholesale Co. (NASDAQ:COST)

Investment Management Corp of Ontario decreased its holdings in Costco Wholesale Co. (NASDAQ:COST - Free Report) by 21.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 32,997 shares of the retailer's stock after selling 8,949 shares during the quarter. Costco Wholesale makes up approximately 1.0% of Investment Management Corp of Ontario's holdings, making the stock its 15th largest holding. Investment Management Corp of Ontario's holdings in Costco Wholesale were worth $30,234,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of the stock. Synergy Investment Management LLC purchased a new stake in Costco Wholesale during the 4th quarter worth $31,000. NewSquare Capital LLC boosted its position in shares of Costco Wholesale by 250.0% in the fourth quarter. NewSquare Capital LLC now owns 35 shares of the retailer's stock worth $32,000 after buying an additional 25 shares during the period. Endeavor Private Wealth Inc. purchased a new stake in shares of Costco Wholesale during the 4th quarter valued at about $33,000. Collier Financial purchased a new stake in shares of Costco Wholesale during the 4th quarter valued at about $35,000. Finally, Barrett & Company Inc. lifted its position in Costco Wholesale by 59.3% during the 4th quarter. Barrett & Company Inc. now owns 43 shares of the retailer's stock worth $39,000 after acquiring an additional 16 shares in the last quarter. 68.48% of the stock is currently owned by hedge funds and other institutional investors.

Costco Wholesale Stock Performance

COST stock traded down $2.98 during trading on Tuesday, reaching $1,013.17. 510,680 shares of the company's stock were exchanged, compared to its average volume of 2,024,420. The firm has a market cap of $449.52 billion, a PE ratio of 59.49, a P/E/G ratio of 6.15 and a beta of 1.00. The company has a quick ratio of 0.43, a current ratio of 0.98 and a debt-to-equity ratio of 0.23. Costco Wholesale Co. has a 1-year low of $771.43 and a 1-year high of $1,078.24. The company's fifty day moving average price is $958.05 and its 200-day moving average price is $964.92.

Costco Wholesale (NASDAQ:COST - Get Free Report) last released its earnings results on Thursday, March 6th. The retailer reported $4.02 EPS for the quarter, missing the consensus estimate of $4.09 by ($0.07). The company had revenue of $63.72 billion for the quarter, compared to analyst estimates of $63.02 billion. Costco Wholesale had a net margin of 2.93% and a return on equity of 32.31%. On average, research analysts expect that Costco Wholesale Co. will post 18.03 EPS for the current fiscal year.

Costco Wholesale Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 16th. Shareholders of record on Friday, May 2nd will be given a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 0.51%. This is an increase from Costco Wholesale's previous quarterly dividend of $1.16. The ex-dividend date of this dividend is Friday, May 2nd. Costco Wholesale's dividend payout ratio is 30.36%.

Insider Buying and Selling at Costco Wholesale

In related news, CEO Roland Michael Vachris sold 3,600 shares of the business's stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $931.00, for a total value of $3,351,600.00. Following the sale, the chief executive officer now directly owns 41,077 shares in the company, valued at $38,242,687. The trade was a 8.06% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP James C. Klauer sold 4,000 shares of the firm's stock in a transaction that occurred on Thursday, April 17th. The stock was sold at an average price of $981.07, for a total transaction of $3,924,280.00. Following the sale, the executive vice president now owns 43,994 shares of the company's stock, valued at $43,161,193.58. The trade was a 8.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 9,600 shares of company stock valued at $9,140,195. 0.18% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have recently issued reports on COST. Stifel Nicolaus dropped their price objective on shares of Costco Wholesale from $1,075.00 to $1,035.00 and set a "buy" rating on the stock in a research note on Thursday, March 20th. Loop Capital lowered their price target on shares of Costco Wholesale from $1,150.00 to $1,045.00 and set a "buy" rating for the company in a report on Wednesday, April 9th. DA Davidson boosted their price objective on shares of Costco Wholesale from $900.00 to $1,000.00 and gave the stock a "neutral" rating in a report on Thursday, February 6th. Truist Financial upped their price objective on shares of Costco Wholesale from $935.00 to $995.00 and gave the company a "hold" rating in a research report on Friday, March 7th. Finally, JPMorgan Chase & Co. lifted their target price on Costco Wholesale from $1,065.00 to $1,070.00 and gave the stock an "overweight" rating in a research report on Friday, March 7th. Ten investment analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $1,024.03.

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.