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

Gateway Investment Advisers LLC increased its holdings in Costco Wholesale Co. (NASDAQ:COSTGet Rating) by 8.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 152,888 shares of the retailer’s stock after purchasing 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 holding. Gateway Investment Advisers LLC’s holdings in Costco Wholesale were worth $73,276,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Contravisory Investment Management Inc. purchased a new position in shares of Costco Wholesale during the 1st quarter worth approximately $26,000. Comprehensive Financial Consultants Institutional Inc. bought a new stake in shares of Costco Wholesale during the fourth quarter valued at approximately $30,000. Mystic Asset Management Inc. purchased a new stake in Costco Wholesale in the fourth quarter worth $40,000. Lansing Street Advisors bought a new position in Costco Wholesale in the first quarter worth $41,000. Finally, Cordant Inc. purchased a new position in Costco Wholesale during the first quarter valued at $47,000. 66.83% of the stock is owned by institutional investors.

Costco Wholesale Stock Performance

Shares of 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 PEG ratio of 3.72 and a beta of 0.70. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.04 and a quick ratio of 0.48. Costco Wholesale Co. has a one year low of $406.51 and a one year high of $612.27. The business has a fifty day moving average of $529.73 and a 200 day moving average of $519.85.

Costco Wholesale Cuts Dividend

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

Insider Transactions at Costco Wholesale

In related news, CFO Richard A. Galanti sold 1,000 shares of the business’s stock in a transaction that occurred 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 directly owns 25,750 shares in the company, valued at $13,019,200. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Kenneth D. Denman sold 300 shares of the firm’s stock in a transaction dated Friday, July 15th. The stock was sold at an average price of $521.68, for a total value of $156,504.00. Following the transaction, the director now owns 5,197 shares of the company’s stock, valued at $2,711,170.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Richard A. Galanti sold 1,000 shares of the business’s stock in a transaction that occurred on Thursday, July 14th. The shares were 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 disclosure for this sale can be found here. Insiders have sold 2,800 shares of company stock worth $1,449,904 in the last quarter. Company insiders own 0.22% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on COST. Citigroup upped their target price on shares of Costco Wholesale from $510.00 to $545.00 in a research report on Thursday, August 4th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Costco Wholesale from $579.00 to $581.00 and gave the company a “buy” rating in a research note on Wednesday. Jefferies Financial Group reissued a “buy” rating and issued a $580.00 price target on shares of Costco Wholesale in a research report on Friday, July 29th. The Goldman Sachs Group raised their price objective on Costco Wholesale from $516.00 to $573.00 and gave the company a “buy” rating in a research report on Thursday, August 4th. Finally, Credit Suisse Group dropped their target price on Costco Wholesale from $570.00 to $550.00 and set a “neutral” rating on the stock in a report on Friday, May 27th. 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 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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