WCM Investment Management LLC Boosts Stake in Costco Wholesale Co. (NASDAQ:COST)
WCM Investment Management LLC raised its position in Costco Wholesale Co. (NASDAQ:COST) by 15.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 803,045 shares of the retailer’s stock after buying an additional 106,074 shares during the period. Costco Wholesale makes up about 1.3% of WCM Investment Management LLC’s holdings, making the stock its 14th biggest holding. WCM Investment Management LLC owned approximately 0.18% of Costco Wholesale worth $212,212,000 at the end of the most recent quarter.
Other large investors have also recently bought and sold shares of the company. Great Valley Advisor Group Inc. acquired a new stake in shares of Costco Wholesale in the 2nd quarter valued at about $470,000. Regent Investment Management LLC raised its stake in shares of Costco Wholesale by 43.5% in the 1st quarter. Regent Investment Management LLC now owns 1,485 shares of the retailer’s stock valued at $360,000 after purchasing an additional 450 shares in the last quarter. Beese Fulmer Investment Management Inc. acquired a new stake in shares of Costco Wholesale in the 2nd quarter valued at about $4,462,000. Raymond James & Associates raised its stake in shares of Costco Wholesale by 8.5% in the 1st quarter. Raymond James & Associates now owns 467,707 shares of the retailer’s stock valued at $113,252,000 after purchasing an additional 36,675 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. raised its stake in shares of Costco Wholesale by 17.4% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 182,589 shares of the retailer’s stock valued at $44,218,000 after purchasing an additional 27,026 shares in the last quarter. 71.21% of the stock is owned by institutional investors.
Shares of NASDAQ:COST traded up $4.19 during trading hours on Thursday, hitting $279.87. The stock had a trading volume of 1,316,898 shares, compared to its average volume of 1,798,965. The stock’s fifty day simple moving average is $275.46 and its 200 day simple moving average is $248.59. Costco Wholesale Co. has a 1-year low of $189.51 and a 1-year high of $284.31. The firm has a market capitalization of $121.21 billion, a price-to-earnings ratio of 40.98, a PEG ratio of 3.86 and a beta of 0.95. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.48 and a current ratio of 0.98.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Friday, August 30th will be paid a $0.65 dividend. The ex-dividend date is Thursday, August 29th. This represents a $2.60 annualized dividend and a dividend yield of 0.93%. Costco Wholesale’s payout ratio is currently 38.07%.
Costco Wholesale declared that its board has initiated a stock repurchase plan on Friday, April 26th that authorizes the company to repurchase $4.00 billion in shares. This repurchase authorization authorizes the retailer to repurchase up to 3.8% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.
A number of equities research analysts have recently issued reports on COST shares. Stifel Nicolaus upped their target price on shares of Costco Wholesale from $261.00 to $289.00 and gave the company a “buy” rating in a research note on Thursday, July 11th. Zacks Investment Research upgraded shares of Costco Wholesale from a “hold” rating to a “buy” rating and set a $272.00 target price on the stock in a research note on Tuesday, June 11th. Loop Capital upped their target price on shares of Costco Wholesale to $300.00 and gave the company a “buy” rating in a research note on Thursday, July 11th. They noted that the move was a valuation call. Tigress Financial reiterated a “buy” rating on shares of Costco Wholesale in a research note on Friday, June 28th. Finally, Citigroup dropped their price objective on shares of Costco Wholesale from $243.00 to $241.00 and set a “neutral” rating on the stock in a research note on Friday, May 31st. Seven research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $266.04.
In other news, insider James C. Klauer sold 5,000 shares of the stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $255.53, for a total value of $1,277,650.00. Following the completion of the transaction, the insider now directly owns 48,310 shares in the company, valued at $12,344,654.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Susan L. Decker sold 2,790 shares of the stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $254.62, for a total transaction of $710,389.80. Following the completion of the transaction, the director now owns 45,405 shares of the company’s stock, valued at $11,561,021.10. The disclosure for this sale can be found here. Insiders sold 28,136 shares of company stock worth $7,380,374 in the last 90 days. 0.21% of the stock is owned by company insiders.
Costco Wholesale Profile
Costco Wholesale Corporation, together with its subsidiaries, operates membership warehouses. It offers branded and private-label products in a range of merchandise categories. The company provides dry and packaged foods, and groceries; snack foods, candies, alcoholic and nonalcoholic beverages, and cleaning supplies; appliances, electronics, health and beauty aids, hardware, and garden and patio products; meat, bakery, deli, and produces; and apparel and small appliances.
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