Gradient Investments LLC decreased its position in Costco Wholesale Co. (NASDAQ:COST – Get Rating) by 28.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 15,340 shares of the retailer’s stock after selling 6,160 shares during the quarter. Gradient Investments LLC’s holdings in Costco Wholesale were worth $7,352,000 at the end of the most recent quarter.
Other institutional investors have also added to or reduced their stakes in the company. Contravisory Investment Management Inc. bought a new position in Costco Wholesale in the first quarter worth $26,000. Comprehensive Financial Consultants Institutional Inc. bought a new position in shares of Costco Wholesale during the fourth quarter valued at $30,000. Lansing Street Advisors bought a new position in shares of Costco Wholesale during the first quarter valued at $41,000. Mystic Asset Management Inc. bought a new position in shares of Costco Wholesale during the fourth quarter valued at $40,000. Finally, Cordant Inc. bought a new position in shares of Costco Wholesale during the first quarter valued at $47,000. Institutional investors own 66.83% of the company’s stock.
Analyst Ratings Changes
COST has been the subject of several analyst reports. Evercore ISI raised their price target on Costco Wholesale to $585.00 in a report on Tuesday, September 6th. The Goldman Sachs Group raised their price target on Costco Wholesale from $516.00 to $573.00 and gave the company a “buy” rating in a report on Thursday, August 4th. StockNews.com upgraded Costco Wholesale from a “hold” rating to a “buy” rating in a report on Friday, July 15th. BMO Capital Markets reaffirmed a “buy” rating and set a $580.00 price objective on shares of Costco Wholesale in a research report on Monday, May 30th. Finally, Oppenheimer increased their price objective on Costco Wholesale from $535.00 to $600.00 in a research report on Thursday, August 4th. Four analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company. Based on data from MarketBeat.com, Costco Wholesale presently has a consensus rating of “Moderate Buy” and a consensus target price of $575.28.
Insider Transactions at Costco Wholesale
In other news, VP James P. Murphy sold 2,500 shares of the firm’s stock in a transaction dated Wednesday, June 22nd. The stock was sold at an average price of $464.00, for a total value of $1,160,000.00. Following the transaction, the vice president now owns 37,730 shares of the company’s stock, valued at $17,506,720. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, VP James P. Murphy sold 2,500 shares of the firm’s stock in a transaction dated Wednesday, June 22nd. The stock was sold at an average price of $464.00, for a total value of $1,160,000.00. Following the transaction, the vice president now owns 37,730 shares of the company’s stock, valued at $17,506,720. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Richard A. Galanti sold 1,000 shares of Costco Wholesale stock in a transaction that occurred on Thursday, July 14th. The shares were sold at an average price of $505.60, for a total value of $505,600.00. Following the sale, the chief financial officer now directly owns 25,750 shares in the company, valued at approximately $13,019,200. The disclosure for this sale can be found here. Insiders have sold 5,300 shares of company stock valued at $2,609,904 over the last quarter. 0.22% of the stock is currently owned by company insiders.
Costco Wholesale Stock Up 0.1 %
NASDAQ COST opened at $504.14 on Monday. The stock’s 50-day moving average price is $529.88 and its 200-day moving average price is $520.69. The company has a quick ratio of 0.48, a current ratio of 1.04 and a debt-to-equity ratio of 0.32. Costco Wholesale Co. has a 52 week low of $406.51 and a 52 week high of $612.27. The company has a market capitalization of $223.32 billion, a P/E ratio of 39.70, a price-to-earnings-growth ratio of 3.80 and a beta of 0.70.
Costco Wholesale Cuts Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, August 12th. Stockholders of record on Friday, July 29th were paid a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 0.07%. The ex-dividend date of this dividend was Thursday, July 28th. Costco Wholesale’s dividend payout ratio (DPR) is currently 28.35%.
Costco Wholesale Profile
Costco Wholesale Corporation, together with its subsidiaries, engages in the operation of membership warehouses in the United States, Puerto Rico, Canada, the United Kingdom, Mexico, Japan, Korea, Australia, Spain, France, Iceland, China, and Taiwan. It offers branded and private-label products in a range of merchandise categories.
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