Financial Gravity Asset Management Inc. Has $117,000 Stake in Costco Wholesale Co. (NASDAQ:COST)

Financial Gravity Asset Management Inc. reduced its position in shares of Costco Wholesale Co. (NASDAQ:COST) by 14.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 138 shares of the retailer’s stock after selling 23 shares during the quarter. Financial Gravity Asset Management Inc.’s holdings in Costco Wholesale were worth $117,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. Frank Rimerman Advisors LLC acquired a new stake in Costco Wholesale during the 4th quarter valued at $26,000. Redmont Wealth Advisors LLC acquired a new stake in shares of Costco Wholesale during the 1st quarter worth about $32,000. Vima LLC bought a new stake in shares of Costco Wholesale during the 4th quarter worth about $34,000. DSM Capital Partners LLC acquired a new position in Costco Wholesale in the 4th quarter valued at about $36,000. Finally, Financial Connections Group Inc. raised its holdings in Costco Wholesale by 557.1% in the 2nd quarter. Financial Connections Group Inc. now owns 46 shares of the retailer’s stock valued at $39,000 after acquiring an additional 39 shares during the period. Institutional investors and hedge funds own 68.48% of the company’s stock.

Wall Street Analysts Forecast Growth

COST has been the subject of a number of research analyst reports. Telsey Advisory Group restated an “outperform” rating and set a $925.00 price objective on shares of Costco Wholesale in a report on Friday. Barclays upped their price objective on Costco Wholesale from $765.00 to $830.00 and gave the company an “equal weight” rating in a report on Thursday, July 11th. Roth Mkm reissued a “neutral” rating and set a $676.00 target price (up previously from $650.00) on shares of Costco Wholesale in a report on Friday, May 31st. Bank of America upped their price target on shares of Costco Wholesale from $874.00 to $962.00 and gave the company a “buy” rating in a research note on Thursday, July 11th. Finally, DA Davidson reiterated a “neutral” rating and issued a $780.00 price objective on shares of Costco Wholesale in a research note on Friday. Seven research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $828.73.

Insiders Place Their Bets

In other news, Director Susan L. Decker sold 620 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $876.50, for a total value of $543,430.00. Following the completion of the transaction, the director now directly owns 11,775 shares in the company, valued at approximately $10,320,787.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Costco Wholesale news, insider Daniel M. Hines sold 1,500 shares of the business’s stock in a transaction that occurred on Friday, July 12th. The shares were 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 of the company’s stock, valued at approximately $10,545,746.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Susan L. Decker sold 620 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $876.50, for a total transaction of $543,430.00. Following the completion of the transaction, the director now owns 11,775 shares of the company’s stock, valued at $10,320,787.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 4,974 shares of company stock valued at $4,252,856. 0.18% of the stock is currently owned by insiders.

Costco Wholesale Trading Down 1.0 %

COST opened at $876.68 on Friday. The company has a market cap of $388.66 billion, a P/E ratio of 54.32, a PEG ratio of 5.98 and a beta of 0.80. The company has a current ratio of 0.94, a quick ratio of 0.45 and a debt-to-equity ratio of 0.27. The company’s 50 day moving average is $857.45 and its 200-day moving average is $800.19. Costco Wholesale Co. has a 1-year low of $540.23 and a 1-year high of $918.93.

Costco Wholesale Dividend Announcement

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

Costco Wholesale 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.