Costco Wholesale Co. (NASDAQ:COST) Stock Position Cut by Horizon Investments LLC

Horizon Investments LLC lessened its stake in Costco Wholesale Co. (NASDAQ:COSTGet Rating) by 25.5% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,225 shares of the retailer’s stock after selling 2,135 shares during the period. Horizon Investments LLC’s holdings in Costco Wholesale were worth $3,579,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of COST. Vanguard Group Inc. boosted its position in shares of Costco Wholesale by 1.2% during the 1st 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. boosted its position in shares of Costco Wholesale by 0.8% during the 1st quarter. BlackRock Inc. now owns 31,340,294 shares of the retailer’s stock valued at $18,047,310,000 after purchasing an additional 261,972 shares in the last quarter. State Street Corp boosted its position in shares of Costco Wholesale by 10.2% during the 4th quarter. State Street Corp now owns 18,301,225 shares of the retailer’s stock valued at $10,389,605,000 after purchasing an additional 1,697,920 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Costco Wholesale by 3.5% during the 4th quarter. Geode Capital Management LLC now owns 7,372,449 shares of the retailer’s stock valued at $4,173,133,000 after purchasing an additional 246,857 shares in the last quarter. Finally, Alliancebernstein L.P. boosted its position in shares of Costco Wholesale by 2.7% during the 4th quarter. Alliancebernstein L.P. now owns 5,106,207 shares of the retailer’s stock valued at $2,898,794,000 after purchasing an additional 133,943 shares in the last quarter. Institutional investors own 66.83% of the company’s stock.

Insider Transactions at Costco Wholesale

In other news, Director Kenneth D. Denman sold 300 shares of the firm’s stock in a transaction on Friday, July 15th. The shares were sold at an average price of $521.68, for a total value of $156,504.00. Following the sale, the director now owns 5,197 shares in the company, valued at $2,711,170.96. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, Director Kenneth D. Denman sold 300 shares of the firm’s stock in a transaction on Friday, July 15th. The shares were sold at an average price of $521.68, for a total value of $156,504.00. Following the sale, the director now owns 5,197 shares in the company, valued at $2,711,170.96. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP James P. Murphy sold 2,500 shares of Costco Wholesale 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 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 Trading Up 1.4 %

NASDAQ:COST opened at $536.58 on Friday. Costco Wholesale Co. has a 12 month low of $406.51 and a 12 month high of $612.27. The firm has a market cap of $237.68 billion, a price-to-earnings ratio of 42.25, a P/E/G ratio of 4.05 and a beta of 0.70. The company has a quick ratio of 0.48, a current ratio of 1.04 and a debt-to-equity ratio of 0.32. The company’s 50 day moving average is $527.83 and its 200-day moving average is $520.88.

Costco Wholesale Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 12th. Stockholders of record on Friday, July 29th were paid a $0.09 dividend. The ex-dividend date was Thursday, July 28th. This represents a $0.36 annualized dividend and a dividend yield of 0.07%. Costco Wholesale’s payout ratio is 28.35%.

Analyst Upgrades and Downgrades

COST has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft upgraded shares of Costco Wholesale from a “hold” rating to a “buy” rating and raised their target price for the stock from $525.00 to $579.00 in a report on Thursday, July 14th. Robert W. Baird reissued an “outperform” rating and issued a $575.00 price target on shares of Costco Wholesale in a research report on Friday, September 2nd. Credit Suisse Group cut their price objective on shares of Costco Wholesale from $570.00 to $550.00 and set a “neutral” rating on the stock in a research report on Friday, May 27th. Loop Capital cut their price objective on shares of Costco Wholesale from $610.00 to $585.00 in a research report on Thursday, September 1st. Finally, Truist Financial raised their price objective on shares of Costco Wholesale from $543.00 to $571.00 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 company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $575.28.

Costco Wholesale Profile

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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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