Costco Wholesale Co. (NASDAQ:COST) Shares Sold by Carnegie Capital Asset Management LLC

Carnegie Capital Asset Management LLC reduced its holdings in shares of Costco Wholesale Co. (NASDAQ:COSTGet Rating) by 20.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 31,084 shares of the retailer’s stock after selling 7,872 shares during the quarter. Carnegie Capital Asset Management LLC’s holdings in Costco Wholesale were worth $12,300,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently modified their holdings of COST. Lee Johnson Capital Management LLC increased its position in Costco Wholesale by 6.7% during the second quarter. Lee Johnson Capital Management LLC now owns 3,774 shares of the retailer’s stock worth $1,809,000 after buying an additional 237 shares in the last quarter. Guardian Financial Partners LLC lifted its position in shares of Costco Wholesale by 12.5% in the second quarter. Guardian Financial Partners LLC now owns 1,128 shares of the retailer’s stock valued at $541,000 after acquiring an additional 125 shares in the last quarter. Traverso Chambers Private Wealth Management LLC lifted its position in shares of Costco Wholesale by 13.6% in the second quarter. Traverso Chambers Private Wealth Management LLC now owns 1,254 shares of the retailer’s stock valued at $601,000 after acquiring an additional 150 shares in the last quarter. Stokes Capital Advisors LLC lifted its position in shares of Costco Wholesale by 5.8% in the second quarter. Stokes Capital Advisors LLC now owns 12,069 shares of the retailer’s stock valued at $5,785,000 after acquiring an additional 658 shares in the last quarter. Finally, Keystone Wealth Services LLC lifted its position in shares of Costco Wholesale by 2.0% in the second quarter. Keystone Wealth Services LLC now owns 3,839 shares of the retailer’s stock valued at $1,840,000 after acquiring an additional 77 shares in the last quarter. Hedge funds and other institutional investors own 66.83% of the company’s stock.

Wall Street Analysts Forecast Growth

COST has been the topic of several recent research reports. Robert W. Baird restated an “outperform” rating and issued a $575.00 price objective on shares of Costco Wholesale in a research report on Friday, September 2nd. Deutsche Bank Aktiengesellschaft upped their price objective on Costco Wholesale from $579.00 to $581.00 and gave the company a “buy” rating in a research report on Wednesday. Oppenheimer upped their price objective on Costco Wholesale from $535.00 to $600.00 in a research report on Thursday, August 4th. Jefferies Financial Group restated a “buy” rating and issued a $580.00 price objective on shares of Costco Wholesale in a research report on Friday, July 29th. Finally, Telsey Advisory Group reduced their price objective on Costco Wholesale from $615.00 to $590.00 and set an “outperform” 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. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $575.36.

Insider Activity

In other news, VP James P. Murphy sold 1,500 shares of the 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 sale, the vice president now owns 36,230 shares in the company, valued at $19,027,996. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, CFO Richard A. Galanti sold 1,000 shares of the 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 owns 25,750 shares of the company’s stock, valued at $13,019,200. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP James P. Murphy sold 1,500 shares of the 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 completion of the transaction, the vice president now directly owns 36,230 shares of the company’s stock, valued at approximately $19,027,996. The disclosure for this sale can be found here. Over the last quarter, insiders sold 2,800 shares of company stock worth $1,449,904. 0.22% of the stock is currently owned by corporate insiders.

Costco Wholesale Price Performance

COST stock opened at $487.17 on Friday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.48 and a current ratio of 1.04. Costco Wholesale Co. has a 1 year low of $406.51 and a 1 year high of $612.27. The firm has a market cap of $215.80 billion, a P/E ratio of 38.36, a price-to-earnings-growth ratio of 3.72 and a beta of 0.70. The stock has a 50-day simple moving average of $529.73 and a 200-day simple moving average of $519.85.

Costco Wholesale Cuts Dividend

The business also recently announced 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 dividend on an annualized basis and a dividend yield of 0.07%. Costco Wholesale’s dividend payout ratio (DPR) is currently 28.35%.

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.

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

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