Veritable L.P. raised its stake in Costco Wholesale Co. (NASDAQ:COST – Free Report) by 2.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 17,289 shares of the retailer’s stock after purchasing an additional 350 shares during the period. Veritable L.P.’s holdings in Costco Wholesale were worth $8,591,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently modified their holdings of COST. High Net Worth Advisory Group LLC grew its stake in shares of Costco Wholesale by 21.5% in the first quarter. High Net Worth Advisory Group LLC now owns 3,020 shares of the retailer’s stock valued at $1,501,000 after acquiring an additional 534 shares in the last quarter. Welch & Forbes LLC lifted its position in Costco Wholesale by 0.6% during the first quarter. Welch & Forbes LLC now owns 172,597 shares of the retailer’s stock worth $85,758,000 after purchasing an additional 1,091 shares during the period. Xponance Inc. lifted its position in Costco Wholesale by 8.6% during the first quarter. Xponance Inc. now owns 105,822 shares of the retailer’s stock worth $52,580,000 after purchasing an additional 8,371 shares during the period. Hall Laurie J Trustee lifted its position in Costco Wholesale by 19.2% during the first quarter. Hall Laurie J Trustee now owns 378 shares of the retailer’s stock worth $188,000 after purchasing an additional 61 shares during the period. Finally, Oak Asset Management LLC lifted its position in Costco Wholesale by 1.1% during the first quarter. Oak Asset Management LLC now owns 4,281 shares of the retailer’s stock worth $2,127,000 after purchasing an additional 45 shares during the period. 66.31% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several research firms recently weighed in on COST. Stifel Nicolaus reaffirmed a “buy” rating and set a $575.00 price objective on shares of Costco Wholesale in a research report on Thursday, August 31st. VNET Group reaffirmed a “reiterates” rating on shares of Costco Wholesale in a research report on Thursday, June 29th. Wells Fargo & Company upped their price objective on shares of Costco Wholesale from $475.00 to $510.00 in a research report on Thursday, August 3rd. Robert W. Baird upped their price objective on shares of Costco Wholesale from $535.00 to $550.00 in a research report on Friday, July 7th. Finally, Telsey Advisory Group reaffirmed an “outperform” rating and set a $575.00 price objective on shares of Costco Wholesale in a research report on Monday, August 28th. Five equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $566.63.
Get Our Latest Report on COST
Insider Buying and Selling at Costco Wholesale
In other Costco Wholesale news, Director Susan L. Decker sold 1,565 shares of the stock in a transaction that occurred on Wednesday, June 28th. The shares were sold at an average price of $533.00, for a total transaction of $834,145.00. Following the completion of the sale, the director now owns 13,329 shares of the company’s stock, valued at approximately $7,104,357. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO Richard A. Galanti sold 1,500 shares of the firm’s stock in a transaction that occurred on Tuesday, June 13th. The shares were sold at an average price of $522.02, for a total transaction of $783,030.00. Following the completion of the sale, the chief financial officer now owns 23,850 shares of the company’s stock, valued at approximately $12,450,177. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Susan L. Decker sold 1,565 shares of the firm’s stock in a transaction that occurred on Wednesday, June 28th. The stock was sold at an average price of $533.00, for a total transaction of $834,145.00. Following the sale, the director now directly owns 13,329 shares of the company’s stock, valued at approximately $7,104,357. The disclosure for this sale can be found here. Insiders own 0.22% of the company’s stock.
Costco Wholesale Trading Up 0.2 %
Shares of Costco Wholesale stock traded up $0.99 on Friday, hitting $549.61. The stock had a trading volume of 501,907 shares, compared to its average volume of 1,800,491. The stock has a 50 day moving average of $548.70 and a 200 day moving average of $516.75. Costco Wholesale Co. has a twelve month low of $447.90 and a twelve month high of $571.16. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.57 and a current ratio of 1.08. The firm has a market capitalization of $243.53 billion, a P/E ratio of 40.77, a PEG ratio of 4.04 and a beta of 0.79.
Costco Wholesale Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, September 8th. Shareholders of record on Friday, August 25th will be given a dividend of $1.02 per share. This represents a $4.08 dividend on an annualized basis and a yield of 0.74%. The ex-dividend date is Thursday, August 24th. Costco Wholesale’s dividend payout ratio is presently 30.22%.
Costco Wholesale Company Profile
(Free Report)
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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