Vanguard Group Inc. raised its holdings in shares of Costco Wholesale Co. (NASDAQ:COST) by 1.4% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 37,343,168 shares of the retailer’s stock after acquiring an additional 508,650 shares during the quarter. Vanguard Group Inc. owned approximately 8.49% of Costco Wholesale worth $9,868,305,000 as of its most recent filing with the SEC.
Several other large investors have also added to or reduced their stakes in COST. Ironwood Wealth Management LLC. boosted its position in shares of Costco Wholesale by 23.4% during the 1st quarter. Ironwood Wealth Management LLC. now owns 395 shares of the retailer’s stock worth $96,000 after acquiring an additional 75 shares in the last quarter. MAI Capital Management boosted its position in shares of Costco Wholesale by 0.3% in the 1st quarter. MAI Capital Management now owns 35,930 shares of the retailer’s stock valued at $8,700,000 after purchasing an additional 116 shares during the period. Meag Munich Ergo Kapitalanlagegesellschaft MBH acquired a new stake in shares of Costco Wholesale in the 1st quarter valued at about $4,029,000. Tufton Capital Management boosted its position in shares of Costco Wholesale by 2.2% in the 1st quarter. Tufton Capital Management now owns 2,375 shares of the retailer’s stock valued at $575,000 after purchasing an additional 50 shares during the period. Finally, Meristem Family Wealth LLC boosted its position in shares of Costco Wholesale by 6.8% in the 1st quarter. Meristem Family Wealth LLC now owns 1,255 shares of the retailer’s stock valued at $304,000 after purchasing an additional 80 shares during the period. 71.08% of the stock is owned by institutional investors and hedge funds.
A number of brokerages recently issued reports on COST. BMO Capital Markets set a $275.00 target price on Costco Wholesale and gave the company a “buy” rating in a research report on Friday, May 31st. Tigress Financial reissued a “buy” rating on shares of Costco Wholesale in a research report on Friday, June 28th. Goldman Sachs Group began coverage on Costco Wholesale in a research report on Thursday, July 11th. They issued a “buy” rating and a $290.00 target price for the company. Gordon Haskett cut Costco Wholesale from an “accumulate” rating to a “hold” rating and set a $244.90 target price for the company. in a research report on Wednesday, May 29th. They noted that the move was a valuation call. Finally, Stifel Nicolaus upped their target price on Costco Wholesale from $289.00 to $310.00 and gave the company a “buy” rating in a research report on Friday, September 6th. Nine analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Costco Wholesale currently has a consensus rating of “Buy” and a consensus price target of $283.72.
In other news, VP James P. Murphy sold 10,000 shares of the stock in a transaction that occurred 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 completion of the transaction, the vice president now directly owns 45,100 shares of the company’s stock, valued at approximately $11,989,835. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Richard A. Galanti sold 3,000 shares of the stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $266.39, for a total value of $799,170.00. Following the transaction, the chief financial officer now directly owns 27,582 shares of the company’s stock, valued at $7,347,568.98. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 18,346 shares of company stock valued at $4,888,035. 0.21% of the stock is owned by company insiders.
COST traded up $1.91 on Tuesday, hitting $290.60. 657,909 shares of the company traded hands, compared to its average volume of 2,456,561. The company has a 50 day moving average of $282.81 and a 200-day moving average of $258.35. The company has a quick ratio of 0.48, a current ratio of 0.98 and a debt-to-equity ratio of 0.32. The stock has a market capitalization of $128.37 billion, a PE ratio of 42.55, a PEG ratio of 3.87 and a beta of 0.93. Costco Wholesale Co. has a 12-month low of $189.51 and a 12-month high of $307.34.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were paid a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 0.89%. The ex-dividend date of this dividend was Thursday, August 29th. Costco Wholesale’s dividend payout ratio is presently 38.07%.
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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