Moneta Group Investment Advisors LLC Increases Stake in Costco Wholesale Co. (COST)

Moneta Group Investment Advisors LLC grew its holdings in Costco Wholesale Co. (NASDAQ:COST) by 976.2% in the second quarter, HoldingsChannel reports. The institutional investor owned 16,197 shares of the retailer’s stock after buying an additional 14,692 shares during the quarter. Moneta Group Investment Advisors LLC’s holdings in Costco Wholesale were worth $394,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in COST. FMR LLC increased its position in Costco Wholesale by 13.5% in the second quarter. FMR LLC now owns 10,570,895 shares of the retailer’s stock worth $2,209,107,000 after purchasing an additional 1,256,873 shares during the period. Epoch Investment Partners Inc. increased its position in Costco Wholesale by 1,913.8% in the first quarter. Epoch Investment Partners Inc. now owns 1,146,393 shares of the retailer’s stock worth $216,015,000 after purchasing an additional 1,089,467 shares during the period. Carmignac Gestion acquired a new stake in Costco Wholesale in the first quarter worth about $169,704,000. BlackRock Inc. increased its position in Costco Wholesale by 3.3% in the second quarter. BlackRock Inc. now owns 27,121,793 shares of the retailer’s stock worth $5,667,910,000 after purchasing an additional 858,755 shares during the period. Finally, Westfield Capital Management Co. LP acquired a new stake in Costco Wholesale in the first quarter worth about $70,796,000. Institutional investors own 71.49% of the company’s stock.

In other news, VP James P. Murphy sold 15,000 shares of Costco Wholesale stock in a transaction dated Monday, July 23rd. The stock was sold at an average price of $219.22, for a total transaction of $3,288,300.00. Following the transaction, the vice president now owns 33,834 shares in the company, valued at approximately $7,417,089.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John W. Meisenbach sold 3,000 shares of Costco Wholesale stock in a transaction dated Wednesday, August 1st. The shares were sold at an average price of $218.65, for a total value of $655,950.00. The disclosure for this sale can be found here. Insiders have sold a total of 24,000 shares of company stock worth $5,268,930 in the last quarter. 0.74% of the stock is currently owned by company insiders.

NASDAQ:COST opened at $235.38 on Monday. Costco Wholesale Co. has a fifty-two week low of $154.11 and a fifty-two week high of $245.16. The company has a current ratio of 1.01, a quick ratio of 0.47 and a debt-to-equity ratio of 0.52. The stock has a market cap of $106.32 billion, a PE ratio of 40.44, a price-to-earnings-growth ratio of 2.87 and a beta of 0.95.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 14th. Stockholders of record on Friday, August 31st were issued a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 0.97%. The ex-dividend date was Thursday, August 30th. Costco Wholesale’s dividend payout ratio (DPR) is presently 39.18%.

A number of analysts recently commented on the company. Loop Capital lifted their price objective on Costco Wholesale to $235.00 and gave the stock a “buy” rating in a research report on Wednesday, July 11th. Barclays cut Costco Wholesale from an “overweight” rating to a “hold” rating and set a $240.00 target price on the stock. in a report on Monday. JPMorgan Chase & Co. raised their target price on Costco Wholesale from $206.00 to $212.00 and gave the stock an “overweight” rating in a report on Friday, June 1st. Telsey Advisory Group raised their target price on Costco Wholesale from $210.00 to $220.00 and gave the stock an “outperform” rating in a report on Friday, June 1st. Finally, Susquehanna Bancshares restated a “positive” rating on shares of Costco Wholesale in a report on Thursday, June 7th. Nine analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company’s stock. Costco Wholesale has an average rating of “Buy” and a consensus price target of $225.33.

About Costco Wholesale

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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Institutional Ownership by Quarter for Costco Wholesale (NASDAQ:COST)

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