Obermeyer Wood Investment Counsel Lllp lowered its stake in shares of Costco Wholesale Co. (NASDAQ:COST) by 2.9% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 1,658 shares of the retailer’s stock after selling 50 shares during the period. Obermeyer Wood Investment Counsel Lllp’s holdings in Costco Wholesale were worth $438,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in COST. Krane Funds Advisors LLC acquired a new stake in Costco Wholesale in the 2nd quarter worth about $26,000. Massey Quick Simon & CO. LLC acquired a new position in shares of Costco Wholesale during the 2nd quarter worth approximately $27,000. Thor Advisors LLC acquired a new position in shares of Costco Wholesale during the 1st quarter worth approximately $35,000. JNBA Financial Advisors boosted its holdings in shares of Costco Wholesale by 484.6% during the 1st quarter. JNBA Financial Advisors now owns 152 shares of the retailer’s stock worth $37,000 after purchasing an additional 126 shares during the last quarter. Finally, Canton Hathaway LLC boosted its holdings in shares of Costco Wholesale by 41.0% during the 2nd quarter. Canton Hathaway LLC now owns 141 shares of the retailer’s stock worth $37,000 after purchasing an additional 41 shares during the last quarter. Institutional investors and hedge funds own 71.14% of the company’s stock.
In other news, VP Roland Michael Vachris sold 3,700 shares of the company’s stock in a transaction on Monday, June 24th. The stock was sold at an average price of $267.25, for a total transaction of $988,825.00. Following the sale, the vice president now owns 13,578 shares of the company’s stock, valued at $3,628,720.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP James P. Murphy sold 10,000 shares of the company’s stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $265.85, for a total value of $2,658,500.00. Following the sale, the vice president now directly owns 45,100 shares in the company, valued at approximately $11,989,835. The disclosure for this sale can be found here. Insiders have sold 18,346 shares of company stock worth $4,888,035 in the last ninety days. Corporate insiders own 0.21% of the company’s stock.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Friday, August 30th will be given a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.90%. The ex-dividend date of this dividend is Thursday, August 29th. Costco Wholesale’s dividend payout ratio is currently 38.07%.
Several brokerages have recently weighed in on COST. Citigroup lowered their target price on Costco Wholesale from $243.00 to $241.00 and set a “neutral” rating on the stock in a report on Friday, May 31st. Raymond James upped their price objective on Costco Wholesale from $260.00 to $300.00 and gave the company an “outperform” rating in a report on Thursday, July 18th. UBS Group upped their price objective on Costco Wholesale from $280.00 to $335.00 and gave the company a “buy” rating in a report on Monday. Oppenheimer cut Costco Wholesale from an “outperform” rating to a “market perform” rating and upped their price objective for the company from $295.00 to $300.00 in a report on Wednesday. Finally, Royal Bank of Canada set a $321.00 price objective on Costco Wholesale and gave the company a “buy” rating in a report on Friday, September 6th. Nine research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $283.72.
Costco Wholesale Company 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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