180 Wealth Advisors LLC decreased its position in Costco Wholesale Co. (NASDAQ:COST – Get Rating) by 4.6% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 9,416 shares of the retailer’s stock after selling 455 shares during the quarter. Costco Wholesale comprises 1.2% of 180 Wealth Advisors LLC’s investment portfolio, making the stock its 11th largest holding. 180 Wealth Advisors LLC’s holdings in Costco Wholesale were worth $4,574,000 at the end of the most recent reporting period.
Other large investors have also made changes to their positions in the company. Contravisory Investment Management Inc. bought a new stake in Costco Wholesale during the first quarter worth approximately $26,000. Comprehensive Financial Consultants Institutional Inc. bought a new stake in Costco Wholesale during the fourth quarter worth approximately $30,000. Lansing Street Advisors bought a new stake in Costco Wholesale during the first quarter worth approximately $41,000. Mystic Asset Management Inc. bought a new stake in Costco Wholesale during the fourth quarter worth approximately $40,000. Finally, Cordant Inc. bought a new stake in Costco Wholesale during the first quarter worth approximately $47,000. Institutional investors own 66.83% of the company’s stock.
Analysts Set New Price Targets
COST has been the subject of a number of recent analyst reports. StockNews.com raised Costco Wholesale from a “hold” rating to a “buy” rating in a research report on Friday, July 15th. Raymond James upped their target price on Costco Wholesale from $560.00 to $600.00 and gave the stock an “outperform” rating in a research report on Friday, August 5th. Evercore ISI increased their price objective on Costco Wholesale to $585.00 in a research report on Tuesday, September 6th. Jefferies Financial Group reissued a “buy” rating and issued a $580.00 price objective on shares of Costco Wholesale in a research report on Friday, July 29th. Finally, Citigroup increased their price objective on Costco Wholesale from $510.00 to $545.00 in a research report on Thursday, August 4th. Four equities research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the stock. Based on data from MarketBeat, Costco Wholesale presently has a consensus rating of “Moderate Buy” and an average price target of $575.28.
Costco Wholesale Stock Performance
Costco Wholesale Cuts Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, August 12th. Stockholders of record on Friday, July 29th were issued a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 0.07%. The ex-dividend date of this dividend was Thursday, July 28th. Costco Wholesale’s payout ratio is presently 28.35%.
Insider Transactions at Costco Wholesale
In other news, VP James P. Murphy sold 2,500 shares of the stock in a transaction on Wednesday, June 22nd. The stock was sold at an average price of $464.00, for a total transaction of $1,160,000.00. Following the sale, the vice president now owns 37,730 shares in the company, valued at $17,506,720. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Richard A. Galanti sold 1,000 shares of the stock in a transaction on Thursday, July 14th. The stock was sold at an average price of $505.60, for a total transaction of $505,600.00. Following the sale, the chief financial officer now owns 25,750 shares in the company, valued at $13,019,200. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP James P. Murphy sold 2,500 shares of the firm’s stock in a transaction dated Wednesday, June 22nd. The shares were sold at an average price of $464.00, for a total value of $1,160,000.00. Following the completion of the transaction, the vice president now owns 37,730 shares in the company, valued at approximately $17,506,720. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 5,300 shares of company stock worth $2,609,904. Insiders own 0.22% of the company’s stock.
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.
- Get a free copy of the StockNews.com research report on Costco Wholesale (COST)
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