Atom Investors LP acquired a new position in shares of Costco Wholesale Co. (NASDAQ:COST) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 47,016 shares of the retailer’s stock, valued at approximately $14,256,000. Costco Wholesale accounts for about 0.9% of Atom Investors LP’s holdings, making the stock its 12th biggest position.
Other large investors also recently added to or reduced their stakes in the company. Obermeyer Wood Investment Counsel Lllp lifted its stake in shares of Costco Wholesale by 1.8% in the second quarter. Obermeyer Wood Investment Counsel Lllp now owns 1,786 shares of the retailer’s stock valued at $542,000 after buying an additional 32 shares in the last quarter. Pioneer Trust Bank N A OR grew its holdings in Costco Wholesale by 2.6% during the second quarter. Pioneer Trust Bank N A OR now owns 1,274 shares of the retailer’s stock valued at $386,000 after purchasing an additional 32 shares during the period. Tranquility Partners LLC grew its stake in shares of Costco Wholesale by 0.6% during the 2nd quarter. Tranquility Partners LLC now owns 5,423 shares of the retailer’s stock worth $1,644,000 after acquiring an additional 32 shares during the period. Moloney Securities Asset Management LLC increased its stake in shares of Costco Wholesale by 3.1% in the second quarter. Moloney Securities Asset Management LLC now owns 1,052 shares of the retailer’s stock worth $319,000 after purchasing an additional 32 shares in the last quarter. Finally, Marietta Wealth Management LLC grew its stake in Costco Wholesale by 0.3% in the 2nd quarter. Marietta Wealth Management LLC now owns 11,962 shares of the retailer’s stock valued at $3,627,000 after buying an additional 32 shares in the last quarter. Institutional investors own 68.20% of the company’s stock.
A number of brokerages recently issued reports on COST. Cowen increased their price objective on Costco Wholesale from $370.00 to $410.00 in a research report on Wednesday. Tigress Financial reaffirmed a “buy” rating on shares of Costco Wholesale in a report on Friday, July 24th. Stifel Nicolaus raised their price objective on Costco Wholesale from $360.00 to $375.00 and gave the company a “buy” rating in a report on Thursday. Guggenheim reissued a “hold” rating on shares of Costco Wholesale in a research note on Monday, June 29th. Finally, Loop Capital lifted their target price on shares of Costco Wholesale from $360.00 to $390.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and nineteen have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $350.42.
Shares of NASDAQ COST traded down $1.73 during trading hours on Friday, hitting $346.57. 2,556,300 shares of the company traded hands, compared to its average volume of 1,829,345. The company’s 50 day moving average price is $336.45 and its 200 day moving average price is $312.57. Costco Wholesale Co. has a 12 month low of $271.28 and a 12 month high of $363.67. The stock has a market capitalization of $153.02 billion, a price-to-earnings ratio of 41.21, a price-to-earnings-growth ratio of 4.40 and a beta of 0.69. The company has a current ratio of 1.11, a quick ratio of 0.63 and a debt-to-equity ratio of 0.44.
The company also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Friday, July 31st were paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 0.81%. The ex-dividend date of this dividend was Thursday, July 30th. Costco Wholesale’s payout ratio is 34.19%.
In other Costco Wholesale news, VP Roland Michael Vachris sold 4,000 shares of the firm’s stock in a transaction dated Friday, June 19th. The shares were sold at an average price of $300.95, for a total value of $1,203,800.00. Also, VP Timothy L. Rose sold 6,000 shares of the business’s stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $308.05, for a total value of $1,848,300.00. Following the transaction, the vice president now owns 23,680 shares of the company’s stock, valued at approximately $7,294,624. The disclosure for this sale can be found here. Insiders have sold 27,889 shares of company stock worth $8,968,019 in the last quarter. Company insiders own 0.22% of the company’s stock.
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.
See Also: Gross Domestic Product (GDP)
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