Capital Market Strategies LLC Grows Stock Position in Costco Wholesale Co. (NASDAQ:COST)

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Capital Market Strategies LLC boosted its stake in Costco Wholesale Co. (NASDAQ:COSTGet Rating) by 2.6% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,959 shares of the retailer’s stock after acquiring an additional 50 shares during the quarter. Costco Wholesale comprises about 1.0% of Capital Market Strategies LLC’s holdings, making the stock its 24th largest holding. Capital Market Strategies LLC’s holdings in Costco Wholesale were worth $939,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Norges Bank purchased a new position in shares of Costco Wholesale during the 4th quarter valued at approximately $2,323,746,000. State Street Corp boosted its stake in shares of Costco Wholesale by 10.2% during the 4th quarter. State Street Corp now owns 18,301,225 shares of the retailer’s stock valued at $10,389,605,000 after buying an additional 1,697,920 shares during the last quarter. BlackRock Inc. raised its position in shares of Costco Wholesale by 3.1% during the 4th quarter. BlackRock Inc. now owns 31,078,322 shares of the retailer’s stock valued at $17,643,166,000 after acquiring an additional 944,199 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Costco Wholesale by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 38,028,886 shares of the retailer’s stock valued at $21,898,934,000 after acquiring an additional 467,631 shares in the last quarter. Finally, Winslow Capital Management LLC acquired a new stake in shares of Costco Wholesale during the 1st quarter valued at approximately $242,940,000. Hedge funds and other institutional investors own 66.83% of the company’s stock.

Insider Activity at Costco Wholesale

In related news, VP James P. Murphy sold 1,500 shares of the stock in a transaction on Wednesday, July 20th. The stock was sold at an average price of $525.20, for a total value of $787,800.00. Following the completion of the transaction, the vice president now owns 36,230 shares in the company, valued at approximately $19,027,996. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, VP James P. Murphy sold 2,500 shares of the stock in a transaction on Wednesday, June 22nd. The stock was sold at an average price of $464.00, for a total value of $1,160,000.00. Following the completion of the transaction, the vice president now owns 37,730 shares in the company, valued at approximately $17,506,720. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP James P. Murphy sold 1,500 shares of the stock in a transaction on Wednesday, July 20th. The shares were sold at an average price of $525.20, for a total value of $787,800.00. Following the completion of the transaction, the vice president now owns 36,230 shares of the company’s stock, valued at approximately $19,027,996. The disclosure for this sale can be found here. Insiders sold 5,300 shares of company stock worth $2,609,904 in the last quarter. 0.22% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Credit Suisse Group dropped their price target on Costco Wholesale from $570.00 to $550.00 and set a “neutral” rating on the stock in a research report on Friday, May 27th. Jefferies Financial Group reissued a “buy” rating and set a $580.00 price target on shares of Costco Wholesale in a research report on Friday, July 29th. Citigroup upped their price target on Costco Wholesale from $510.00 to $545.00 in a research report on Thursday, August 4th. Telsey Advisory Group dropped their price target on Costco Wholesale from $615.00 to $590.00 and set an “outperform” rating on the stock in a research report on Friday, May 27th. Finally, Loop Capital dropped their target price on Costco Wholesale from $610.00 to $585.00 in a research report on Thursday, September 1st. Four investment analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Costco Wholesale presently has a consensus rating of “Moderate Buy” and an average target price of $575.28.

Costco Wholesale Trading Up 0.1 %

Shares of COST stock opened at $504.14 on Monday. The stock has a 50-day simple moving average of $529.88 and a 200 day simple moving average of $520.69. Costco Wholesale Co. has a fifty-two week low of $406.51 and a fifty-two week high of $612.27. The stock has a market capitalization of $223.32 billion, a P/E ratio of 39.70, a P/E/G ratio of 3.80 and a beta of 0.70. The company has a quick ratio of 0.48, a current ratio of 1.04 and a debt-to-equity ratio of 0.32.

Costco Wholesale Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 12th. Investors of record on Friday, July 29th were given a $0.09 dividend. The ex-dividend date of this dividend was Thursday, July 28th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.07%. Costco Wholesale’s dividend payout ratio (DPR) is 28.35%.

Costco Wholesale Profile

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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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