Corsicana & Co. Has $2.04 Million Stock Position in Costco Wholesale Co. (NASDAQ:COST)

Corsicana & Co. lessened its stake in Costco Wholesale Co. (NASDAQ:COSTGet Rating) by 7.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,260 shares of the retailer’s stock after selling 335 shares during the quarter. Costco Wholesale makes up 1.6% of Corsicana & Co.’s holdings, making the stock its 16th biggest position. Corsicana & Co.’s holdings in Costco Wholesale were worth $2,042,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the stock. Ford Financial Group LLC boosted its stake in shares of Costco Wholesale by 2.4% during the first quarter. Ford Financial Group LLC now owns 821 shares of the retailer’s stock valued at $472,000 after purchasing an additional 19 shares in the last quarter. Fermata Advisors LLC raised its position in shares of Costco Wholesale by 5.1% during the first quarter. Fermata Advisors LLC now owns 394 shares of the retailer’s stock worth $227,000 after acquiring an additional 19 shares during the last quarter. Strategic Investment Advisors MI increased its holdings in Costco Wholesale by 1.9% in the first quarter. Strategic Investment Advisors MI now owns 1,026 shares of the retailer’s stock worth $591,000 after purchasing an additional 19 shares in the last quarter. Gill Capital Partners LLC increased its holdings in Costco Wholesale by 2.2% in the fourth quarter. Gill Capital Partners LLC now owns 909 shares of the retailer’s stock worth $516,000 after purchasing an additional 20 shares in the last quarter. Finally, Retirement Solution Inc. increased its holdings in Costco Wholesale by 1.1% in the fourth quarter. Retirement Solution Inc. now owns 1,919 shares of the retailer’s stock worth $1,089,000 after purchasing an additional 20 shares in the last quarter. Institutional investors and hedge funds own 66.83% of the company’s stock.

Insiders Place Their Bets

In other Costco Wholesale news, CFO Richard A. Galanti sold 1,000 shares of the company’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 directly owns 25,750 shares in the company, valued at approximately $13,019,200. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CFO Richard A. Galanti sold 1,000 shares of the company’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 completion of the transaction, the chief financial officer now directly owns 25,750 shares in the company, valued at approximately $13,019,200. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP James P. Murphy sold 1,500 shares of the company’s stock in a transaction dated Wednesday, July 20th. The stock was 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 $19,027,996. The disclosure for this sale can be found here. Insiders have sold 2,800 shares of company stock worth $1,449,904 in the last ninety days. 0.22% of the stock is currently owned by insiders.

Costco Wholesale Price Performance

Shares of NASDAQ COST opened at $487.17 on Friday. The firm has a market capitalization of $215.80 billion, a P/E ratio of 38.36, a P/E/G ratio of 3.72 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 stock’s 50-day simple moving average is $529.73 and its two-hundred day simple moving average is $519.85. Costco Wholesale Co. has a twelve month low of $406.51 and a twelve month high of $612.27.

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 paid a $0.09 dividend. The ex-dividend date was Thursday, July 28th. This represents a $0.36 dividend on an annualized basis and a yield of 0.07%. Costco Wholesale’s dividend payout ratio is currently 28.35%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on COST shares. Jefferies Financial Group restated a “buy” rating and set a $580.00 price objective on shares of Costco Wholesale in a report on Friday, July 29th. Truist Financial boosted their price objective on Costco Wholesale from $543.00 to $571.00 in a research report on Thursday, August 4th. BMO Capital Markets reissued a “buy” rating and issued a $580.00 price objective on shares of Costco Wholesale in a research report on Monday, May 30th. Raymond James boosted their price objective on Costco Wholesale from $560.00 to $600.00 and gave the stock an “outperform” rating in a research report on Friday, August 5th. Finally, Credit Suisse Group cut their price objective on Costco Wholesale from $570.00 to $550.00 and set a “neutral” rating on the stock in a research report on Friday, May 27th. Four equities research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $575.36.

About Costco Wholesale

(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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