Gateway Investment Advisers LLC Acquires 11,990 Shares of Costco Wholesale Co. (NASDAQ:COST)

Gateway Investment Advisers LLC raised its position in shares of Costco Wholesale Co. (NASDAQ:COSTGet Rating) by 8.5% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 152,888 shares of the retailer’s stock after acquiring an additional 11,990 shares during the quarter. Costco Wholesale makes up approximately 0.8% of Gateway Investment Advisers LLC’s holdings, making the stock its 26th largest position. Gateway Investment Advisers LLC’s holdings in Costco Wholesale were worth $73,276,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of Costco Wholesale by 1.2% during the first quarter. Vanguard Group Inc. now owns 38,028,886 shares of the retailer’s stock valued at $21,898,934,000 after purchasing an additional 467,631 shares in the last quarter. BlackRock Inc. lifted its position in Costco Wholesale by 0.8% during the first quarter. BlackRock Inc. now owns 31,340,294 shares of the retailer’s stock valued at $18,047,310,000 after buying an additional 261,972 shares during the period. State Street Corp boosted its holdings in shares of Costco Wholesale by 4.0% during the 1st quarter. State Street Corp now owns 19,039,672 shares of the retailer’s stock valued at $10,963,995,000 after buying an additional 738,447 shares in the last quarter. Alliancebernstein L.P. grew its position in shares of Costco Wholesale by 2.7% in the 4th quarter. Alliancebernstein L.P. now owns 5,106,207 shares of the retailer’s stock worth $2,898,794,000 after buying an additional 133,943 shares during the period. Finally, Fisher Asset Management LLC increased its stake in shares of Costco Wholesale by 3.7% in the 1st quarter. Fisher Asset Management LLC now owns 4,221,255 shares of the retailer’s stock worth $2,430,810,000 after acquiring an additional 150,655 shares in the last quarter. Hedge funds and other institutional investors own 66.83% of the company’s stock.

Costco Wholesale Trading Down 1.2 %

Shares of NASDAQ:COST opened at $487.17 on Friday. Costco Wholesale Co. has a 52-week low of $406.51 and a 52-week high of $612.27. The stock has a market capitalization of $215.80 billion, a price-to-earnings ratio of 38.36, a PEG ratio of 3.72 and a beta of 0.70. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.48 and a current ratio of 1.04. The stock’s 50-day simple moving average is $529.73 and its two-hundred day simple moving average is $519.85.

Costco Wholesale Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 12th. Investors of record on Friday, July 29th were given a dividend of $0.09 per share. The ex-dividend date was Thursday, July 28th. This represents a $0.36 annualized dividend and a yield of 0.07%. Costco Wholesale’s dividend payout ratio (DPR) is 28.35%.

Insider Buying and Selling at Costco Wholesale

In other news, CFO Richard A. Galanti sold 1,000 shares of the business’s stock in a transaction on Thursday, July 14th. The shares were sold at an average price of $505.60, for a total transaction of $505,600.00. Following the completion of the sale, the chief financial officer now owns 25,750 shares of the company’s stock, valued at approximately $13,019,200. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CFO Richard A. Galanti sold 1,000 shares of the firm’s stock in a transaction dated Thursday, July 14th. The stock was sold at an average price of $505.60, for a total value of $505,600.00. Following the transaction, the chief financial officer now owns 25,750 shares of the company’s stock, valued at $13,019,200. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP James P. Murphy sold 1,500 shares of Costco Wholesale 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 transaction, 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 ninety days, insiders sold 2,800 shares of company stock valued at $1,449,904. Insiders own 0.22% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. The Goldman Sachs Group upped their price objective on shares of Costco Wholesale from $516.00 to $573.00 and gave the stock a “buy” rating in a report on Thursday, August 4th. Credit Suisse Group cut their price target on Costco Wholesale from $570.00 to $550.00 and set a “neutral” rating on the stock in a research note on Friday, May 27th. Oppenheimer lifted their price objective on Costco Wholesale from $535.00 to $600.00 in a research note on Thursday, August 4th. Citigroup raised their price target on Costco Wholesale from $510.00 to $545.00 in a report on Thursday, August 4th. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $580.00 price target on shares of Costco Wholesale in a research note on Friday, July 29th. Four research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company. According to MarketBeat.com, Costco Wholesale has an average rating of “Moderate Buy” and a consensus price target of $575.36.

Costco Wholesale Profile

(Get Rating)

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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Institutional Ownership by Quarter for Costco Wholesale (NASDAQ:COST)

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