Gradient Investments LLC Sells 6,160 Shares of Costco Wholesale Co. (NASDAQ:COST)

Gradient Investments LLC decreased its position in Costco Wholesale Co. (NASDAQ:COSTGet Rating) by 28.7% during the second quarter, HoldingsChannel.com reports. The fund owned 15,340 shares of the retailer’s stock after selling 6,160 shares during the quarter. Gradient Investments LLC’s holdings in Costco Wholesale were worth $7,352,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Eagle Asset Management Inc. boosted its holdings in shares of Costco Wholesale by 4.4% in the 4th quarter. Eagle Asset Management Inc. now owns 7,300 shares of the retailer’s stock worth $4,116,000 after purchasing an additional 305 shares during the period. PFS Investments Inc. purchased a new position in shares of Costco Wholesale in the 4th quarter worth approximately $233,000. Alberta Investment Management Corp boosted its holdings in shares of Costco Wholesale by 65.6% in the 4th quarter. Alberta Investment Management Corp now owns 44,226 shares of the retailer’s stock worth $25,107,000 after purchasing an additional 17,526 shares during the period. KRS Capital Management LLC purchased a new position in shares of Costco Wholesale in the 4th quarter worth approximately $253,000. Finally, American International Group Inc. boosted its holdings in shares of Costco Wholesale by 2.0% in the 4th quarter. American International Group Inc. now owns 159,365 shares of the retailer’s stock worth $90,472,000 after purchasing an additional 3,161 shares during the period. Institutional investors own 66.83% of the company’s stock.

Costco Wholesale Trading Up 0.1 %

COST opened at $504.14 on Monday. The stock has a fifty day moving average price of $529.88 and a 200-day moving average price of $520.69. 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 $223.32 billion, a price-to-earnings ratio of 39.70, a PEG ratio of 3.80 and a beta of 0.70. The company has a current ratio of 1.04, a quick ratio of 0.48 and a debt-to-equity ratio of 0.32.

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. This represents a $0.36 annualized dividend and a yield of 0.07%. The ex-dividend date of this dividend was Thursday, July 28th. Costco Wholesale’s dividend payout ratio is currently 28.35%.

Analyst Upgrades and Downgrades

COST has been the subject of a number of recent research reports. Raymond James lifted their target price on Costco Wholesale from $560.00 to $600.00 and gave the stock an “outperform” rating in a report on Friday, August 5th. Citigroup boosted their price objective on Costco Wholesale from $510.00 to $545.00 in a report on Thursday, August 4th. Deutsche Bank Aktiengesellschaft upgraded Costco Wholesale from a “hold” rating to a “buy” rating and boosted their price objective for the company from $525.00 to $579.00 in a report on Thursday, July 14th. Credit Suisse Group dropped their price objective on Costco Wholesale from $570.00 to $550.00 and set a “neutral” rating for the company in a report on Friday, May 27th. Finally, Loop Capital dropped their price objective on Costco Wholesale from $610.00 to $585.00 in a report on Thursday, September 1st. Four equities research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company. According to data from MarketBeat, Costco Wholesale currently has an average rating of “Moderate Buy” and an average price target of $575.28.

Insider Activity at Costco Wholesale

In related news, VP James P. Murphy sold 2,500 shares of the company’s stock in a transaction dated 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 transaction, the vice president now directly owns 37,730 shares of the company’s stock, valued at approximately $17,506,720. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Costco Wholesale news, CFO Richard A. Galanti sold 1,000 shares of the business’s stock in a transaction dated 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 approximately $13,019,200. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP James P. Murphy sold 2,500 shares of the business’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 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. Insiders have sold 5,300 shares of company stock valued at $2,609,904 in the last ninety days. Corporate insiders own 0.22% of the company’s stock.

Costco Wholesale Company 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.

Read More

Want to see what other hedge funds are holding COST? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Costco Wholesale Co. (NASDAQ:COSTGet Rating).

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

Receive News & Ratings for Costco Wholesale Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Costco Wholesale and related companies with MarketBeat.com's FREE daily email newsletter.