Corebridge Financial Inc. Increases Stake in Costco Wholesale Co. (NASDAQ:COST)

Corebridge Financial Inc. increased its position in shares of Costco Wholesale Co. (NASDAQ:COST) by 0.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 138,024 shares of the retailer’s stock after buying an additional 1,054 shares during the period. Costco Wholesale comprises about 0.7% of Corebridge Financial Inc.’s portfolio, making the stock its 15th biggest position. Corebridge Financial Inc.’s holdings in Costco Wholesale were worth $126,467,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. CHURCHILL MANAGEMENT Corp acquired a new stake in shares of Costco Wholesale in the 4th quarter valued at $8,430,000. GAMMA Investing LLC raised its stake in Costco Wholesale by 15.0% in the fourth quarter. GAMMA Investing LLC now owns 7,662 shares of the retailer’s stock valued at $7,020,000 after buying an additional 1,001 shares in the last quarter. Dale Q Rice Investment Management Ltd purchased a new stake in Costco Wholesale during the 4th quarter worth about $984,000. Stanich Group LLC acquired a new position in shares of Costco Wholesale during the 4th quarter worth about $214,000. Finally, Everence Capital Management Inc. increased its holdings in shares of Costco Wholesale by 15.4% in the 4th quarter. Everence Capital Management Inc. now owns 11,913 shares of the retailer’s stock valued at $10,916,000 after acquiring an additional 1,590 shares during the last quarter. Institutional investors and hedge funds own 68.48% of the company’s stock.

Insider Buying and Selling at Costco Wholesale

In other Costco Wholesale news, CEO Roland Michael Vachris sold 3,600 shares of the company’s stock in a transaction on Tuesday, March 11th. The stock was 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 owns 41,077 shares of the company’s stock, valued at approximately $38,242,687. This represents a 8.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.18% of the stock is currently owned by corporate insiders.

Costco Wholesale Stock Up 1.5 %

COST opened at $909.26 on Monday. The business has a 50 day simple moving average of $987.55 and a 200-day simple moving average of $945.45. Costco Wholesale Co. has a 12 month low of $697.27 and a 12 month high of $1,078.24. The stock has a market capitalization of $403.42 billion, a P/E ratio of 53.39, a P/E/G ratio of 6.15 and a beta of 0.82. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.98 and a quick ratio of 0.43.

Costco Wholesale (NASDAQ:COST) last issued 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 analysts’ expectations of $63.02 billion. Costco Wholesale had a return on equity of 32.31% and a net margin of 2.93%. On average, equities analysts anticipate that Costco Wholesale Co. will post 18.03 earnings per share for the current fiscal year.

Costco Wholesale Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, February 21st. Shareholders of record on Friday, February 7th were given a dividend of $1.16 per share. The ex-dividend date was Friday, February 7th. This represents a $4.64 annualized dividend and a yield of 0.51%. Costco Wholesale’s payout ratio is currently 27.09%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on COST. UBS Group boosted their target price on Costco Wholesale from $840.00 to $1,040.00 and gave the stock a “buy” rating in a research note on Thursday, December 12th. Loop Capital lowered their target price on shares of Costco Wholesale from $1,150.00 to $1,135.00 and set a “buy” rating for the company in a report on Friday, March 7th. Cowen reiterated a “buy” rating on shares of Costco Wholesale in a research note on Friday, March 7th. Stifel Nicolaus decreased their price objective on shares of Costco Wholesale from $1,075.00 to $1,035.00 and set a “buy” rating for the company in a research note on Thursday. Finally, Truist Financial raised their price objective on Costco Wholesale from $935.00 to $995.00 and gave the stock a “hold” rating in a report on Friday, March 7th. Nine analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $1,029.00.

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.