Brighton Jones LLC increased its position in shares of Costco Wholesale Co. (NASDAQ:COST) by 5.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 15,446 shares of the retailer’s stock after purchasing an additional 758 shares during the quarter. Brighton Jones LLC’s holdings in Costco Wholesale were worth $6,112,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Isthmus Partners LLC bought a new position in Costco Wholesale during the second quarter worth $179,000. CapWealth Advisors LLC lifted its stake in Costco Wholesale by 7.9% during the second quarter. CapWealth Advisors LLC now owns 14,644 shares of the retailer’s stock worth $5,794,000 after purchasing an additional 1,070 shares during the last quarter. Wealthquest Corp bought a new position in Costco Wholesale during the second quarter worth $201,000. Investment Management of Virginia LLC lifted its stake in Costco Wholesale by 0.8% during the second quarter. Investment Management of Virginia LLC now owns 7,984 shares of the retailer’s stock worth $3,159,000 after purchasing an additional 63 shares during the last quarter. Finally, National Asset Management Inc. lifted its stake in Costco Wholesale by 4.7% during the second quarter. National Asset Management Inc. now owns 21,333 shares of the retailer’s stock worth $8,431,000 after purchasing an additional 966 shares during the last quarter. Hedge funds and other institutional investors own 66.96% of the company’s stock.
COST has been the topic of a number of recent research reports. Wells Fargo & Company raised their target price on Costco Wholesale from $415.00 to $480.00 and gave the company an “overweight” rating in a research note on Thursday, August 5th. Raymond James raised their target price on Costco Wholesale from $415.00 to $460.00 and gave the company an “outperform” rating in a research note on Thursday, August 5th. Zacks Investment Research upgraded Costco Wholesale from a “hold” rating to a “buy” rating and set a $490.00 target price on the stock in a research note on Monday, September 6th. Loop Capital raised their target price on Costco Wholesale from $455.00 to $500.00 and gave the company a “buy” rating in a research note on Thursday, August 5th. Finally, Royal Bank of Canada lifted their price objective on shares of Costco Wholesale from $425.00 to $453.00 and gave the company an “outperform” rating in a research note on Friday, May 28th. Eight research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $441.32.
The business also recently declared a quarterly dividend, which was paid on Friday, August 13th. Investors of record on Friday, July 30th were paid a $0.79 dividend. The ex-dividend date of this dividend was Thursday, July 29th. This represents a $3.16 dividend on an annualized basis and a yield of 0.69%. Costco Wholesale’s dividend payout ratio is currently 35.71%.
In other Costco Wholesale news, VP Joseph P. Portera sold 3,287 shares of the firm’s stock in a transaction dated Friday, August 13th. The stock was sold at an average price of $445.50, for a total transaction of $1,464,358.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Timothy L. Rose sold 4,000 shares of Costco Wholesale stock in a transaction dated Monday, June 28th. The shares were sold at an average price of $396.14, for a total value of $1,584,560.00. Following the sale, the vice president now owns 26,625 shares of the company’s stock, valued at $10,547,227.50. The disclosure for this sale can be found here. Insiders sold a total of 11,287 shares of company stock worth $4,686,519 in the last three months. 0.22% of the stock is currently owned by company insiders.
About Costco Wholesale
Costco Wholesale Corp. engages in the operation of membership warehouses. Its product categories include food and sundries, hardlines, fresh foods, softlines, and ancillary. It operates through the following segments: Unites States Operations, Canadian Operations, and Other International Operations. The company was founded by James D.
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