As of the first quarter of this year, it has been reported that Veritable L.P. has increased its stake in Costco Wholesale Co. by 2.1%. Costco Wholesale Co., listed as COST on the NASDAQ stock exchange, is a well-known retailer in the United States. Veritable L.P. purchased an additional 350 shares during this period, resulting in a total of 17,289 shares owned by the fund. The value of their holdings in Costco Wholesale Co. amounted to $8,591,000 at the end of the quarter.
In addition to this development, Costco Wholesale Co. recently announced its quarterly dividend payout. Shareholders who held shares on record as of Friday, August 25th will receive a dividend of $1.02 per share on Friday, September 8th. This translates to an annualized dividend payout of $4.08 and a yield of 0.74%. It is worth noting that those who bought shares after Thursday, August 24th will not be eligible for the upcoming dividend.
As for its dividend payout ratio, Costco Wholesale Co.’s current figure stands at 30.22%. This percentage indicates how much of the company’s earnings are being distributed to shareholders as dividends.
Overall, these developments represent important updates regarding Veritable L.P.’s increased stake in Costco Wholesale Co., as well as information about the company’s recent dividend announcement and its dividend payout ratio standing at over 30%. Investors and shareholders may find these details useful when evaluating their investment strategies and assessing their interests in both Veritable L.P. and Costco Wholesale Co.
It is important to note that this information is accurate as of September 9th, 2023 and is subject to change as new data becomes available or market conditions evolve over time.
Costco Wholesale Corporation
Updated on: 01/03/2024
Debt to equity ratio: Sell
Price to earnings ratio: Strong Buy
Price to book ratio: Strong Buy
ROE: Strong Buy
We did not find social sentiment data for this stock
|Analyst / firm
Institutional Investors and Hedge Funds Drive Modifications in Holdings of Costco Wholesale
Institutional investors and hedge funds have been making significant modifications to their holdings of Costco Wholesale, one of the leading retail giants in the industry. High Net Worth Advisory Group LLC saw a staggering 21.5% increase in its stake in Costco during the first quarter, now owning 3,020 shares valued at $1,501,000. Similarly, Welch & Forbes LLC experienced a 0.6% lift in its position with an additional 1,091 shares valued at $85,758,000. Xponance Inc., on the other hand, witnessed an 8.6% increase in its position by acquiring an extra 8,371 shares amounting to $52,580,000.
These significant movements can also be observed with Hall Laurie J Trustee and Oak Asset Management LLC reporting a growth of 19.2% and 1.1% respectively in their positions during the first quarter.
Adding up all these institutional investments and hedge funds modifications, it can be concluded that approximately 66.31% of Costco Wholesale’s stock is currently owned by these entities.
Various research firms have recently evaluated the performance of Costco Wholesale and shared their insights with the market. Stifel Nicolaus reaffirmed its “buy” rating for this retailer’s stock and set a price objective of $575.00 in a research report released on August 31st. VNET Group reiterated their previous rating for Costco Wholesale as well.
Wells Fargo & Company was another research firm that revised its price objective from $475.00 to $510.00 for Costco Wholesale on August 3rd.
Amidst these evaluations from research firms, Robert W. Baird upgraded its price objective for this retail giant’s stock from $535.00 to $550.00 on July 7th.
Telsey Advisory Group echoed these positive sentiments by reaffirming an “outperform” rating for Costco Wholesale and setting a price objective of $575.00 in their research report published on August 28th.
While five equities research analysts have assigned a hold rating to the stock, sixteen have issued a buy rating, according to data from Bloomberg. With an average rating of “Moderate Buy,” the average target price for Costco Wholesale’s stock is expected to be around $566.63.
Looking at recent company developments, Costco Wholesale declared a quarterly dividend which will be paid on September 8th to shareholders who retained ownership of the stock as of August 25th. The dividend payout stands at $1.02 per share, resulting in an annualized yield of 0.74%.
In regards to insider trading activities, Director Susan L. Decker sold 1,565 shares of Costco Wholesale stock on June 28th for approximately $834,145.00. Following this sale, Decker now possesses 13,329 shares valued at approximately $7,104,357.
Meanwhile, CFO Richard A. Galanti also took part in insider trading by selling 1,500 shares of Costco Wholesale’s stock on June 13th for a total transaction amounting to $783,030.00.
The disclosure for these sales and other similar transactions can be found via accessible legal filings submitted through the Securities & Exchange Commission’s website.
As for market performance, shares of Costco Wholesale traded at $549.61 on September 8th with a trading volume reaching 501,907 shares – slightly below its average volume standing at roughly 1,800,491 shares.
Costco Wholesale Co.’s stock has fluctuated between its twelve-month low of $447.90 and twelve-month high of $571.16. As of September 8th its moving averages are noted as follows: a fifty-day moving average priced at $548.70 and a two-hundred-day moving average set at $516.75.
Boasting a market capitalization of $243.53 billion, Costco Wholesale holds a P/E ratio of 40.77 and a PEG ratio of 4.04 with a beta score of 0.79.
The recent modifications in holdings, positive evaluations from research firms, dividend announcements, and insider trading activities have undoubtedly caught the attention of investors, rendering the future prospects for Costco Wholesale quite intriguing in the eyes of market observers. Only time will tell how these factors play into the performance of this leading retail giant moving forward.