Covea Finance Has $42.07 Million Stake in Costco Wholesale Co. (NASDAQ:COST)

Covea Finance reduced its position in shares of Costco Wholesale Co. (NASDAQ:COST) by 9.5% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 78,150 shares of the retailer’s stock after selling 8,236 shares during the period. Costco Wholesale comprises about 2.3% of Covea Finance’s investment portfolio, making the stock its 5th biggest position. Covea Finance’s holdings in Costco Wholesale were worth $42,074,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the company. Sanctuary Wealth Management L.L.C. acquired a new position in Costco Wholesale during the fourth quarter valued at approximately $26,000. Agur Provident & Training Funds Management Ltd. acquired a new position in Costco Wholesale during the first quarter valued at approximately $42,000. 25 LLC acquired a new position in Costco Wholesale during the first quarter valued at approximately $44,000. Piscataqua Savings Bank grew its holdings in Costco Wholesale by 30.1% during the first quarter. Piscataqua Savings Bank now owns 95 shares of the retailer’s stock valued at $47,000 after purchasing an additional 22 shares during the period. Finally, Guardian Wealth Advisors LLC acquired a new position in shares of Costco Wholesale in the first quarter valued at approximately $47,000. 66.31% of the stock is owned by institutional investors.

Insider Activity at Costco Wholesale

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

Costco Wholesale Trading Down 0.3 %

Shares of NASDAQ:COST traded down $1.49 during mid-day trading on Friday, reaching $563.28. 762,096 shares of the company’s stock were exchanged, compared to its average volume of 1,784,563. The firm has a market capitalization of $249.59 billion, a price-to-earnings ratio of 41.83, a PEG ratio of 4.13 and a beta of 0.79. 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 Co. has a twelve month low of $447.90 and a twelve month high of $571.16. The business’s fifty day moving average price is $550.04 and its 200-day moving average price is $518.55.

Costco Wholesale Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 8th. Investors of record on Friday, August 25th were issued a $1.02 dividend. The ex-dividend date of this dividend 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%.

Wall Street Analyst Weigh In

COST has been the subject of several research analyst reports. Evercore ISI upped their price target on shares of Costco Wholesale from $595.00 to $600.00 and gave the company an “outperform” rating in a report on Friday, September 8th. UBS Group upped their price target on shares of Costco Wholesale from $560.00 to $640.00 and gave the company a “buy” rating in a report on Thursday, August 3rd. Stifel Nicolaus reiterated a “buy” rating and issued a $575.00 price target on shares of Costco Wholesale in a report on Thursday, August 31st. Telsey Advisory Group restated an “outperform” rating and set a $575.00 target price on shares of Costco Wholesale in a report on Monday, August 28th. Finally, Jefferies Financial Group increased their target price on shares of Costco Wholesale from $610.00 to $640.00 and gave the stock a “buy” rating in a report on Wednesday, August 2nd. Five investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $566.63.

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.