Parametric Portfolio Associates LLC increased its stake in Costco Wholesale Co. (NASDAQ:COST) by 0.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,510,840 shares of the retailer’s stock after buying an additional 12,456 shares during the quarter. Parametric Portfolio Associates LLC owned about 0.34% of Costco Wholesale worth $399,255,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Great Valley Advisor Group Inc. bought a new stake in Costco Wholesale in the second quarter worth about $470,000. Beese Fulmer Investment Management Inc. bought a new stake in shares of Costco Wholesale during the 2nd quarter worth approximately $4,462,000. Raymond James & Associates lifted its stake in shares of Costco Wholesale by 8.5% during the 1st quarter. Raymond James & Associates now owns 467,707 shares of the retailer’s stock worth $113,252,000 after acquiring an additional 36,675 shares during the last quarter. Raymond James Financial Services Advisors Inc. lifted its stake in shares of Costco Wholesale by 17.4% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 182,589 shares of the retailer’s stock worth $44,218,000 after acquiring an additional 27,026 shares during the last quarter. Finally, Aperio Group LLC boosted its holdings in Costco Wholesale by 0.4% during the 2nd quarter. Aperio Group LLC now owns 357,259 shares of the retailer’s stock valued at $94,409,000 after acquiring an additional 1,421 shares during the period. 71.14% of the stock is owned by institutional investors.
In related news, CFO Richard A. Galanti sold 3,000 shares of the stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $266.39, for a total transaction of $799,170.00. Following the completion of the sale, the chief financial officer now owns 27,582 shares of the company’s stock, valued at $7,347,568.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Susan L. Decker sold 1,646 shares of the firm’s stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $268.25, for a total transaction of $441,539.50. Following the completion of the sale, the director now owns 41,803 shares of the company’s stock, valued at $11,213,654.75. The disclosure for this sale can be found here. Insiders sold a total of 18,346 shares of company stock worth $4,888,035 over the last quarter. Company insiders own 0.21% of the company’s stock.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Friday, August 30th will be issued a $0.65 dividend. The ex-dividend date of this dividend is Thursday, August 29th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.88%. Costco Wholesale’s dividend payout ratio is presently 38.07%.
A number of research firms have weighed in on COST. Citigroup reduced their target price on Costco Wholesale from $243.00 to $241.00 and set a “neutral” rating on the stock in a research note on Friday, May 31st. Robert W. Baird boosted their target price on shares of Costco Wholesale from $290.00 to $325.00 and gave the company an “outperform” rating in a research note on Thursday, September 5th. BMO Capital Markets set a $275.00 price target on shares of Costco Wholesale and gave the stock a “buy” rating in a report on Friday, May 31st. BidaskClub raised shares of Costco Wholesale from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 17th. Finally, Goldman Sachs Group assumed coverage on shares of Costco Wholesale in a report on Thursday, July 11th. They set a “buy” rating and a $290.00 price objective for the company. Eight research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $283.50.
Costco Wholesale 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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