Meeder Asset Management Inc. Sells 15,460 Shares of Costco Wholesale Co. (NASDAQ:COST)

Meeder Asset Management Inc. trimmed its holdings in Costco Wholesale Co. (NASDAQ:COST) by 82.6% in the 2nd quarter, Holdings Channel reports. The fund owned 3,252 shares of the retailer’s stock after selling 15,460 shares during the quarter. Meeder Asset Management Inc.’s holdings in Costco Wholesale were worth $2,764,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Frank Rimerman Advisors LLC acquired a new stake in Costco Wholesale in the 4th quarter worth $26,000. Redmont Wealth Advisors LLC acquired a new stake in Costco Wholesale during the first quarter worth about $32,000. Vima LLC bought a new position in Costco Wholesale during the fourth quarter valued at about $34,000. DSM Capital Partners LLC acquired a new position in Costco Wholesale in the 4th quarter valued at approximately $36,000. Finally, Financial Connections Group Inc. lifted its position in shares of Costco Wholesale by 557.1% in the 2nd quarter. Financial Connections Group Inc. now owns 46 shares of the retailer’s stock worth $39,000 after acquiring an additional 39 shares during the period. Institutional investors and hedge funds own 68.48% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. StockNews.com upgraded Costco Wholesale from a “hold” rating to a “buy” rating in a research report on Friday, September 6th. Tigress Financial lifted their target price on shares of Costco Wholesale from $870.00 to $975.00 and gave the company a “buy” rating in a research report on Tuesday, June 25th. BMO Capital Markets increased their price target on shares of Costco Wholesale from $875.00 to $950.00 and gave the stock an “outperform” rating in a research report on Monday, August 12th. Barclays lifted 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. Finally, Oppenheimer increased their target price on Costco Wholesale from $925.00 to $955.00 and gave the stock an “outperform” rating in a report on Friday, September 6th. Eight equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. According to MarketBeat.com, Costco Wholesale currently has a consensus rating of “Moderate Buy” and an average target price of $844.52.

Costco Wholesale Stock Up 1.6 %

NASDAQ COST opened at $915.03 on Friday. The stock has a market capitalization of $405.66 billion, a P/E ratio of 56.69, a price-to-earnings-growth ratio of 5.47 and a beta of 0.80. Costco Wholesale Co. has a 52 week low of $540.23 and a 52 week high of $918.93. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.45 and a current ratio of 0.94. The stock has a fifty day moving average of $860.97 and a 200-day moving average of $804.43.

Costco Wholesale Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 9th. Investors of record on Friday, July 26th were given a $1.16 dividend. The ex-dividend date of this dividend was Friday, July 26th. This represents a $4.64 dividend on an annualized basis and a yield of 0.51%. Costco Wholesale’s payout ratio is 28.75%.

Insiders Place Their Bets

In other news, Director Kenneth D. Denman sold 350 shares of the firm’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $851.53, for a total value of $298,035.50. Following the transaction, the director now owns 5,920 shares of the company’s stock, valued at approximately $5,041,057.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Kenneth D. Denman sold 350 shares of the stock in a transaction on Monday, July 15th. The stock was sold at an average price of $851.53, for a total value of $298,035.50. Following the transaction, the director now owns 5,920 shares of the company’s stock, valued at approximately $5,041,057.60. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Susan L. Decker sold 620 shares of Costco Wholesale 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 sale, the director now directly owns 11,775 shares of the company’s stock, valued at $10,320,787.50. The disclosure for this sale can be found here. In the last three months, insiders sold 4,974 shares of company stock valued at $4,252,856. 0.18% of the stock is currently owned by insiders.

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.