Putnam Investments LLC Has $311.14 Million Position in Costco Wholesale Co. (NASDAQ:COST)

Putnam Investments LLC cut its position in Costco Wholesale Co. (NASDAQ:COST) by 6.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 626,191 shares of the retailer’s stock after selling 42,582 shares during the period. Putnam Investments LLC owned 0.14% of Costco Wholesale worth $311,136,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in COST. Sanctuary Wealth Management L.L.C. acquired a new stake in shares of Costco Wholesale in the 4th quarter valued at about $26,000. Agur Provident & Training Funds Management Ltd. bought a new position in Costco Wholesale in the 1st quarter valued at about $42,000. 25 LLC bought a new position in Costco Wholesale in the 1st quarter valued at about $44,000. Piscataqua Savings Bank lifted its position in Costco Wholesale by 30.1% in the 1st quarter. Piscataqua Savings Bank now owns 95 shares of the retailer’s stock valued at $47,000 after acquiring an additional 22 shares in the last quarter. Finally, Guardian Wealth Advisors LLC bought a new position in Costco Wholesale in the 1st quarter valued at about $47,000. 66.31% of the stock is currently owned by institutional investors and hedge funds.

Costco Wholesale Price Performance

Shares of NASDAQ:COST opened at $558.79 on Wednesday. The company has a quick ratio of 0.57, a current ratio of 1.08 and a debt-to-equity ratio of 0.28. The firm has a market capitalization of $247.60 billion, a PE ratio of 41.39, a P/E/G ratio of 4.05 and a beta of 0.79. Costco Wholesale Co. has a twelve month low of $447.90 and a twelve month high of $571.16. The company has a 50-day moving average price of $549.66 and a two-hundred day moving average price of $518.26.

Costco Wholesale Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 8th. Shareholders of record on Friday, August 25th were given a dividend of $1.02 per share. The ex-dividend date of this dividend was Thursday, August 24th. This represents a $4.08 dividend on an annualized basis and a yield of 0.73%. Costco Wholesale’s dividend payout ratio is presently 30.22%.

Insider Activity

In other news, Director Susan L. Decker sold 1,565 shares of the firm’s stock in a transaction that occurred on Wednesday, June 28th. The shares were sold at an average price of $533.00, for a total value of $834,145.00. Following the completion of the transaction, the director now directly owns 13,329 shares in the company, valued at $7,104,357. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.22% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

COST has been the topic of several recent research reports. Truist Financial raised their price target on shares of Costco Wholesale from $567.00 to $597.00 and gave the company a “buy” rating in a research report on Thursday, August 3rd. Jefferies Financial Group raised their price target on shares of Costco Wholesale from $610.00 to $640.00 and gave the company a “buy” rating in a research report on Wednesday, August 2nd. Loop Capital lifted their target price on shares of Costco Wholesale from $545.00 to $570.00 in a research report on Friday, June 2nd. Wells Fargo & Company lifted their target price on shares of Costco Wholesale from $475.00 to $510.00 in a research report on Thursday, August 3rd. Finally, StockNews.com began coverage on shares of Costco Wholesale in a research report on Wednesday, August 23rd. They set a “hold” rating on the stock. Five equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $566.63.

Costco Wholesale Profile

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.