Ardevora Asset Management LLP Lowers Stock Position in Costco Wholesale Co. (NASDAQ:COST)

Ardevora Asset Management LLP lessened its stake in Costco Wholesale Co. (NASDAQ:COST) by 33.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 103,051 shares of the retailer’s stock after selling 51,919 shares during the period. Costco Wholesale makes up about 1.3% of Ardevora Asset Management LLP’s holdings, making the stock its 19th biggest holding. Ardevora Asset Management LLP’s holdings in Costco Wholesale were worth $55,481,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the stock. Aspire Private Capital LLC bought a new stake in Costco Wholesale in the 1st quarter worth approximately $20,406,948,000. Mach 1 Financial Group LLC purchased a new position in shares of Costco Wholesale during the first quarter worth approximately $22,359,000. Sanctuary Wealth Management L.L.C. bought a new stake in shares of Costco Wholesale in the 4th quarter worth approximately $26,000. 25 LLC purchased a new stake in shares of Costco Wholesale in the 1st quarter valued at $44,000. Finally, Guardian Wealth Advisors LLC purchased a new stake in shares of Costco Wholesale in the 1st quarter valued at $47,000. Institutional investors own 66.31% of the company’s stock.

Insiders Place Their Bets

In other news, Director Susan L. Decker sold 1,565 shares of the business’s stock in a transaction on Wednesday, June 28th. The shares were sold at an average price of $533.00, for a total transaction of $834,145.00. Following the sale, the director now owns 13,329 shares in the company, valued at approximately $7,104,357. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 0.22% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

COST has been the subject of several recent research reports. VNET Group reissued a “reiterates” rating on shares of Costco Wholesale in a research note on Thursday, June 29th. UBS Group boosted their target price on Costco Wholesale from $560.00 to $640.00 and gave the company a “buy” rating in a research note on Thursday, August 3rd. Wells Fargo & Company increased their target price on Costco Wholesale from $475.00 to $510.00 in a report on Thursday, August 3rd. Loop Capital lifted their price target on Costco Wholesale from $545.00 to $570.00 in a research note on Friday, June 2nd. Finally, Jefferies Financial Group boosted their price objective on Costco Wholesale from $610.00 to $640.00 and gave the company a “buy” rating in a research report on Wednesday, August 2nd. Five investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $566.63.

Costco Wholesale Stock Up 0.9 %

COST stock opened at $564.77 on Friday. Costco Wholesale Co. has a fifty-two week low of $447.90 and a fifty-two week high of $571.16. The company has a market capitalization of $250.25 billion, a price-to-earnings ratio of 41.83, a price-to-earnings-growth ratio of 4.13 and a beta of 0.79. The business’s 50 day moving average price is $550.04 and its two-hundred day moving average price is $518.55. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.57 and a current ratio of 1.08.

Costco Wholesale Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 8th. Investors of record on Friday, August 25th were paid a $1.02 dividend. The ex-dividend date was Thursday, August 24th. This represents a $4.08 annualized dividend and a yield of 0.72%. Costco Wholesale’s payout ratio is 30.22%.

Costco Wholesale Company 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.