Crawford Investment Counsel Inc. increased its stake in Costco Wholesale Co. (NASDAQ:COST – Get Rating) by 8.7% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,245 shares of the retailer’s stock after acquiring an additional 261 shares during the quarter. Crawford Investment Counsel Inc.’s holdings in Costco Wholesale were worth $1,869,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Contravisory Investment Management Inc. bought a new position in Costco Wholesale in the 1st quarter worth approximately $26,000. Comprehensive Financial Consultants Institutional Inc. bought a new stake in shares of Costco Wholesale during the 4th quarter valued at about $30,000. Mystic Asset Management Inc. bought a new stake in Costco Wholesale during the fourth quarter worth about $40,000. Lansing Street Advisors purchased a new position in shares of Costco Wholesale during the first quarter valued at approximately $41,000. Finally, Cordant Inc. purchased a new stake in Costco Wholesale during the first quarter valued at approximately $47,000. Institutional investors and hedge funds own 66.83% of the company’s stock.
Wall Street Analyst Weigh In
COST has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft raised shares of Costco Wholesale from a “hold” rating to a “buy” rating and increased their target price for the company from $525.00 to $579.00 in a research note on Thursday, July 14th. Oppenheimer boosted their target price on shares of Costco Wholesale from $535.00 to $600.00 in a research note on Thursday, August 4th. Telsey Advisory Group reduced their price objective on shares of Costco Wholesale from $615.00 to $590.00 and set an “outperform” rating for the company in a research report on Friday, May 27th. Evercore ISI upped their price objective on shares of Costco Wholesale to $585.00 in a report on Tuesday, September 6th. Finally, Raymond James increased their target price on shares of Costco Wholesale from $560.00 to $600.00 and gave the stock an “outperform” rating in a research note on Friday, August 5th. Four equities research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $575.28.
Costco Wholesale Price Performance
Costco Wholesale Cuts Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, August 12th. Shareholders of record on Friday, July 29th were issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 0.07%. The ex-dividend date was Thursday, July 28th. Costco Wholesale’s dividend payout ratio (DPR) is currently 28.35%.
Insider Buying and Selling at Costco Wholesale
In related news, VP James P. Murphy sold 1,500 shares of the business’s stock in a transaction dated Wednesday, July 20th. The shares were sold at an average price of $525.20, for a total value of $787,800.00. Following the completion of the transaction, the vice president now owns 36,230 shares of the company’s stock, valued at approximately $19,027,996. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Kenneth D. Denman sold 300 shares of the company’s stock in a transaction that occurred on Friday, July 15th. The stock was sold at an average price of $521.68, for a total transaction of $156,504.00. Following the sale, the director now directly owns 5,197 shares of the company’s stock, valued at approximately $2,711,170.96. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP James P. Murphy sold 1,500 shares of the company’s stock in a transaction that occurred on Wednesday, July 20th. The shares were sold at an average price of $525.20, for a total value of $787,800.00. Following the sale, the vice president now directly owns 36,230 shares in the company, valued at $19,027,996. The disclosure for this sale can be found here. Over the last quarter, insiders sold 5,300 shares of company stock valued at $2,609,904. 0.22% of the stock is owned by company 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, the United Kingdom, Mexico, Japan, Korea, Australia, Spain, France, Iceland, China, and Taiwan. It offers branded and private-label products in a range of merchandise categories.
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