Scotia Capital Inc. grew its stake in shares of Costco Wholesale Co. (NASDAQ:COST) by 9.7% in the second quarter, HoldingsChannel.com reports. The fund owned 131,359 shares of the retailer’s stock after acquiring an additional 11,575 shares during the quarter. Scotia Capital Inc.’s holdings in Costco Wholesale were worth $34,719,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. BSW Wealth Partners lifted its stake in Costco Wholesale by 10.9% in the 2nd quarter. BSW Wealth Partners now owns 1,096 shares of the retailer’s stock valued at $290,000 after purchasing an additional 108 shares during the last quarter. Captrust Financial Advisors increased its holdings in Costco Wholesale by 13.2% in the second quarter. Captrust Financial Advisors now owns 18,591 shares of the retailer’s stock worth $4,913,000 after purchasing an additional 2,172 shares in the last quarter. Parametric Portfolio Associates LLC lifted its stake in Costco Wholesale by 0.8% in the second quarter. Parametric Portfolio Associates LLC now owns 1,510,840 shares of the retailer’s stock valued at $399,255,000 after buying an additional 12,456 shares during the period. Toronto Dominion Bank boosted its holdings in shares of Costco Wholesale by 56.1% during the 2nd quarter. Toronto Dominion Bank now owns 512,679 shares of the retailer’s stock worth $135,245,000 after buying an additional 184,224 shares in the last quarter. Finally, Pinnacle Financial Partners Inc. boosted its holdings in shares of Costco Wholesale by 3.6% during the 2nd quarter. Pinnacle Financial Partners Inc. now owns 16,215 shares of the retailer’s stock worth $4,285,000 after buying an additional 565 shares in the last quarter. 71.14% of the stock is currently owned by institutional investors.
Several research firms have weighed in on COST. Raymond James lifted their price target on shares of Costco Wholesale from $260.00 to $300.00 and gave the company an “outperform” rating in a research note on Thursday, July 18th. Gordon Haskett downgraded Costco Wholesale from an “accumulate” rating to a “hold” rating and set a $244.90 price objective for the company. in a report on Wednesday, May 29th. They noted that the move was a valuation call. Deutsche Bank set a $252.00 target price on Costco Wholesale and gave the stock a “hold” rating in a research report on Monday, July 15th. Oppenheimer lowered Costco Wholesale from an “outperform” rating to a “market perform” rating and upped their target price for the stock from $295.00 to $300.00 in a research report on Wednesday. Finally, Royal Bank of Canada set a $321.00 price target on shares of Costco Wholesale and gave the company a “buy” rating in a research report on Friday, September 6th. Nine investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the stock. Costco Wholesale currently has a consensus rating of “Buy” and an average target price of $283.72.
Shares of COST stock traded down $5.77 during trading hours on Wednesday, reaching $291.23. The company had a trading volume of 2,135,077 shares, compared to its average volume of 2,159,889. The company has a market cap of $131.50 billion, a price-to-earnings ratio of 42.64, a price-to-earnings-growth ratio of 3.96 and a beta of 0.93. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.98 and a quick ratio of 0.48. Costco Wholesale Co. has a 12 month low of $189.51 and a 12 month high of $307.34. The business has a fifty day simple moving average of $281.72 and a 200-day simple moving average of $256.49.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Friday, August 30th will be issued a dividend of $0.65 per share. The ex-dividend date of this dividend is Thursday, August 29th. This represents a $2.60 annualized dividend and a yield of 0.89%. Costco Wholesale’s dividend payout ratio (DPR) is currently 38.07%.
In other Costco Wholesale news, VP James P. Murphy sold 10,000 shares of the firm’s stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $265.85, for a total transaction of $2,658,500.00. Following the transaction, the vice president now directly owns 45,100 shares in the company, valued at approximately $11,989,835. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Richard A. Galanti sold 3,000 shares of Costco Wholesale stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $266.39, for a total transaction of $799,170.00. Following the transaction, the chief financial officer now directly owns 27,582 shares in the company, valued at $7,347,568.98. The disclosure for this sale can be found here. Insiders have sold 18,346 shares of company stock valued at $4,888,035 in the last quarter. 0.21% of the stock is currently owned by corporate insiders.
Costco Wholesale Company 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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