Hanlon Investment Management Inc. Takes $227,000 Position in Costco Wholesale Co. (NASDAQ:COST)

Hanlon Investment Management Inc. acquired a new stake in shares of Costco Wholesale Co. (NASDAQ:COST) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 267 shares of the retailer’s stock, valued at approximately $227,000.

Several other institutional investors have also recently bought and sold shares of the business. Oak Asset Management LLC grew its stake in shares of Costco Wholesale by 0.3% in the 2nd quarter. Oak Asset Management LLC now owns 4,396 shares of the retailer’s stock worth $3,737,000 after buying an additional 12 shares in the last quarter. Peddock Capital Advisors LLC grew its position in Costco Wholesale by 0.7% in the second quarter. Peddock Capital Advisors LLC now owns 1,786 shares of the retailer’s stock worth $1,518,000 after acquiring an additional 12 shares in the last quarter. Bedel Financial Consulting Inc. increased its stake in Costco Wholesale by 1.3% during the first quarter. Bedel Financial Consulting Inc. now owns 995 shares of the retailer’s stock worth $729,000 after acquiring an additional 13 shares during the last quarter. Boltwood Capital Management lifted its stake in shares of Costco Wholesale by 1.7% in the 2nd quarter. Boltwood Capital Management now owns 790 shares of the retailer’s stock valued at $671,000 after purchasing an additional 13 shares during the last quarter. Finally, LifePro Asset Management boosted its holdings in shares of Costco Wholesale by 3.8% in the 2nd quarter. LifePro Asset Management now owns 358 shares of the retailer’s stock worth $304,000 after purchasing an additional 13 shares during the period. Institutional investors and hedge funds own 68.48% of the company’s stock.

Insider Activity

In related news, Director Kenneth D. Denman sold 350 shares of the firm’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $851.53, for a total transaction of $298,035.50. Following the sale, the director now directly owns 5,920 shares of the company’s stock, valued at $5,041,057.60. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, insider Daniel M. Hines sold 1,500 shares of the business’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $848.53, for a total value of $1,272,795.00. Following the completion of the sale, the insider now owns 10,992 shares of the company’s stock, valued at approximately $9,327,041.76. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Kenneth D. Denman sold 350 shares of the stock in a transaction on Monday, July 15th. The shares were sold at an average price of $851.53, for a total transaction of $298,035.50. Following the transaction, the director now directly owns 5,920 shares in the company, valued at $5,041,057.60. The disclosure for this sale can be found here. Insiders sold a total of 4,974 shares of company stock valued at $4,252,856 in the last quarter. 0.18% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on COST shares. Deutsche Bank Aktiengesellschaft increased their price target on Costco Wholesale from $925.00 to $927.00 and gave the company a “buy” rating in a report on Thursday, August 8th. Oppenheimer lifted their price target on shares of Costco Wholesale from $925.00 to $955.00 and gave the stock an “outperform” rating in a research note on Friday. Gordon Haskett raised shares of Costco Wholesale from an “accumulate” rating to a “buy” rating and set a $925.00 price objective on the stock in a research report on Thursday, August 8th. Robert W. Baird boosted 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. Finally, Roth Mkm reaffirmed a “neutral” rating and set a $676.00 target price (up previously from $650.00) on shares of Costco Wholesale in a research note on Friday, May 31st. Seven equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $828.73.

Costco Wholesale Stock Performance

Shares of NASDAQ:COST traded down $9.30 during midday trading on Friday, reaching $876.68. The company’s stock had a trading volume of 2,074,604 shares, compared to its average volume of 1,959,834. 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 stock has a fifty day moving average of $857.45 and a 200 day moving average of $799.68. Costco Wholesale Co. has a twelve month low of $540.23 and a twelve month high of $918.93. The firm has a market capitalization of $388.66 billion, a PE ratio of 54.32, a P/E/G ratio of 5.98 and a beta of 0.80.

Costco Wholesale Announces Dividend

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

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.