Synergy Asset Management LLC Sells 60 Shares of Costco Wholesale Co. (NASDAQ:COST)

Synergy Asset Management LLC cut its stake in shares of Costco Wholesale Co. (NASDAQ:COST) by 1.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,426 shares of the retailer’s stock after selling 60 shares during the quarter. Synergy Asset Management LLC’s holdings in Costco Wholesale were worth $2,912,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of COST. Frank Rimerman Advisors LLC acquired a new position in shares of Costco Wholesale during the fourth quarter valued at about $26,000. Redmont Wealth Advisors LLC bought a new position in Costco Wholesale in the 1st quarter valued at about $32,000. Financial Connections Group Inc. boosted its stake in Costco Wholesale by 557.1% during the 2nd quarter. Financial Connections Group Inc. now owns 46 shares of the retailer’s stock valued at $39,000 after purchasing an additional 39 shares during the last quarter. Vima LLC bought a new stake in Costco Wholesale during the 4th quarter worth approximately $34,000. Finally, DSM Capital Partners LLC purchased a new stake in shares of Costco Wholesale in the fourth quarter worth approximately $36,000. 68.48% of the stock is owned by institutional investors.

Costco Wholesale Stock Performance

Costco Wholesale stock traded down $5.56 during midday trading on Friday, reaching $880.42. The stock had a trading volume of 75,016 shares, compared to its average volume of 1,948,218. The company has a quick ratio of 0.45, a current ratio of 0.94 and a debt-to-equity ratio of 0.27. The firm has a market capitalization of $390.32 billion, a PE ratio of 54.89, a P/E/G ratio of 5.98 and a beta of 0.80. Costco Wholesale Co. has a 12 month low of $540.23 and a 12 month high of $918.93. The firm’s 50-day moving average price is $856.92 and its 200 day moving average price is $798.62.

Costco Wholesale Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 9th. Investors of record on Friday, July 26th were paid a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a dividend yield of 0.53%. The ex-dividend date was Friday, July 26th. Costco Wholesale’s payout ratio is currently 28.75%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Robert W. Baird lifted their target price on Costco Wholesale from $850.00 to $975.00 and gave the company an “outperform” rating in a research report on Thursday, July 11th. Barclays raised their price objective on Costco Wholesale from $765.00 to $830.00 and gave the company an “equal weight” rating in a research note on Thursday, July 11th. Roth Mkm reiterated a “neutral” rating and issued a $676.00 target price (up previously from $650.00) on shares of Costco Wholesale in a research note on Friday, May 31st. Loop Capital raised their price target on shares of Costco Wholesale from $940.00 to $970.00 and gave the company a “buy” rating in a research report on Thursday, July 11th. Finally, Gordon Haskett upgraded shares of Costco Wholesale from an “accumulate” rating to a “buy” rating and set a $925.00 price target on the stock in a report on Thursday, August 8th. Eight equities research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $826.04.

Insider Activity at Costco Wholesale

In related news, insider Daniel M. Hines sold 1,500 shares of the business’s stock in a transaction on Friday, July 12th. The stock was sold at an average price of $844.20, for a total transaction of $1,266,300.00. Following the sale, the insider now directly owns 12,492 shares in the company, valued at approximately $10,545,746.40. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, EVP Richard A. Galanti sold 500 shares of the company’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $863.88, for a total value of $431,940.00. Following the transaction, the executive vice president now owns 23,800 shares of the company’s stock, valued at $20,560,344. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Daniel M. Hines sold 1,500 shares of Costco Wholesale stock in a transaction on Friday, July 12th. The shares were sold at an average price of $844.20, for a total value of $1,266,300.00. Following the sale, the insider now directly owns 12,492 shares of the company’s stock, valued at approximately $10,545,746.40. The disclosure for this sale can be found here. In the last ninety days, insiders sold 4,974 shares of company stock worth $4,252,856. Corporate insiders own 0.18% of the company’s stock.

Costco Wholesale Company Profile

Costco Wholesale Corporation, together with its subsidiaries, engages in the operation of membership warehouses in the United States, Puerto Rico, Canada, Mexico, Japan, the United Kingdom, Korea, Australia, Taiwan, China, Spain, France, Iceland, New Zealand, and Sweden. The company offers branded and private-label products in a range of merchandise categories.