Smith Anglin Financial LLC Decreases Position in Costco Wholesale Co. (NASDAQ:COST)

Smith Anglin Financial LLC decreased its position in shares of Costco Wholesale Co. (NASDAQ:COST) by 10.1% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,251 shares of the retailer’s stock after selling 141 shares during the quarter. Smith Anglin Financial LLC’s holdings in Costco Wholesale were worth $674,000 as of its most recent filing with the SEC.

Several other institutional investors also recently added to or reduced their stakes in COST. United Bank increased its position in Costco Wholesale by 9.2% in the 1st quarter. United Bank now owns 5,254 shares of the retailer’s stock valued at $3,026,000 after acquiring an additional 444 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Costco Wholesale by 33.6% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 383,691 shares of the retailer’s stock worth $220,948,000 after purchasing an additional 96,566 shares during the period. Covestor Ltd increased its holdings in Costco Wholesale by 87.1% in the first quarter. Covestor Ltd now owns 232 shares of the retailer’s stock valued at $134,000 after buying an additional 108 shares in the last quarter. Bridgefront Capital LLC acquired a new position in Costco Wholesale during the first quarter worth $333,000. Finally, Next Century Growth Investors LLC raised its stake in shares of Costco Wholesale by 0.9% during the 1st quarter. Next Century Growth Investors LLC now owns 3,414 shares of the retailer’s stock worth $1,965,000 after buying an additional 30 shares during the last quarter. Institutional investors and hedge funds own 66.31% of the company’s stock.

Costco Wholesale Price Performance

Shares of COST opened at $556.36 on Friday. The stock’s fifty day moving average is $550.58 and its 200-day moving average is $518.87. The firm has a market capitalization of $246.52 billion, a price-to-earnings ratio of 41.21, a price-to-earnings-growth ratio of 4.17 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 one year low of $447.90 and a one year high of $571.16.

Costco Wholesale Announces Dividend

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

Insider Buying and Selling

In related news, Director Susan L. Decker sold 1,565 shares of the company’s stock in a transaction on Wednesday, June 28th. The stock was sold at an average price of $533.00, for a total transaction of $834,145.00. Following the transaction, the director now directly owns 13,329 shares of the company’s stock, valued at $7,104,357. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.22% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Stifel Nicolaus reiterated a “buy” rating and set a $575.00 price target on shares of Costco Wholesale in a report on Thursday, August 31st. Wells Fargo & Company lifted their price objective on Costco Wholesale from $475.00 to $510.00 in a research note on Thursday, August 3rd. UBS Group increased their price target on Costco Wholesale from $560.00 to $640.00 and gave the company a “buy” rating in a report on Thursday, August 3rd. Truist Financial lifted their price objective on shares of Costco Wholesale from $567.00 to $597.00 and gave the company a “buy” rating in a research note on Thursday, August 3rd. Finally, Loop Capital lifted their price objective on Costco Wholesale from $545.00 to $570.00 in a report on Friday, June 2nd. Five analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus 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.