Farmer Steven Patrick Purchases New Position in Costco Wholesale Co. (NASDAQ:COST)

Farmer Steven Patrick purchased a new stake in shares of Costco Wholesale Co. (NASDAQ:COSTGet Rating) in the second quarter, HoldingsChannel.com reports. The institutional investor purchased 759 shares of the retailer’s stock, valued at approximately $364,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Contravisory Investment Management Inc. purchased a new stake in shares of Costco Wholesale in the first quarter valued at $26,000. Comprehensive Financial Consultants Institutional Inc. purchased a new stake in shares of Costco Wholesale in the fourth quarter valued at $30,000. Mystic Asset Management Inc. purchased a new stake in shares of Costco Wholesale in the fourth quarter valued at $40,000. Lansing Street Advisors purchased a new stake in shares of Costco Wholesale in the first quarter valued at $41,000. Finally, Cordant Inc. purchased a new stake in shares of Costco Wholesale in the first quarter valued at $47,000. 66.83% of the stock is owned by institutional investors.

Costco Wholesale Stock Performance

Shares of Costco Wholesale stock opened at $504.14 on Friday. The firm has a market capitalization of $223.31 billion, a P/E ratio of 39.70, a PEG ratio of 3.80 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 has a 50 day moving average price of $529.88 and a 200 day moving average price of $520.74. Costco Wholesale Co. has a 52 week low of $406.51 and a 52 week high of $612.27.

Costco Wholesale Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 12th. Investors of record on Friday, July 29th were given a $0.09 dividend. 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 Activity at Costco Wholesale

In other Costco Wholesale news, CFO Richard A. Galanti sold 1,000 shares of the firm’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 transaction, the chief financial officer now directly owns 25,750 shares of the company’s stock, valued at approximately $13,019,200. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Costco Wholesale news, VP James P. Murphy sold 2,500 shares of Costco Wholesale stock in a transaction on 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 completion of the transaction, the vice president now owns 37,730 shares of the company’s stock, valued at $17,506,720. 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 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 directly owns 25,750 shares in the company, valued at $13,019,200. The disclosure for this sale can be found here. Insiders sold 5,300 shares of company stock valued at $2,609,904 in the last three months. 0.22% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. BMO Capital Markets reissued a “buy” rating and issued a $580.00 target price on shares of Costco Wholesale in a research note on Monday, May 30th. Deutsche Bank Aktiengesellschaft upgraded shares of Costco Wholesale from a “hold” rating to a “buy” rating and upped their price target for the stock from $525.00 to $579.00 in a report on Thursday, July 14th. Oppenheimer upped their price target on shares of Costco Wholesale from $535.00 to $600.00 in a report on Thursday, August 4th. Truist Financial upped their price target on shares of Costco Wholesale from $543.00 to $571.00 in a report on Thursday, August 4th. Finally, Jefferies Financial Group restated a “buy” rating and issued a $580.00 price target on shares of Costco Wholesale in a report on Friday, July 29th. Four equities research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the stock. Based on data from MarketBeat, Costco Wholesale has a consensus rating of “Moderate Buy” and an average price target of $575.28.

Costco Wholesale 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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