Grassi Investment Management Trims Stake in Costco Wholesale Co. (NASDAQ:COST)

Grassi Investment Management reduced its position in Costco Wholesale Co. (NASDAQ:COST) by 6.6% during the second quarter, HoldingsChannel.com reports. The firm owned 4,640 shares of the retailer’s stock after selling 329 shares during the period. Grassi Investment Management’s holdings in Costco Wholesale were worth $2,498,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. 626 Financial LLC raised its position in Costco Wholesale by 3.0% in the 1st quarter. 626 Financial LLC now owns 732 shares of the retailer’s stock worth $364,000 after purchasing an additional 21 shares during the period. Integral Investment Advisors Inc. increased its position in shares of Costco Wholesale by 1.5% during the first quarter. Integral Investment Advisors Inc. now owns 1,440 shares of the retailer’s stock worth $715,000 after acquiring an additional 21 shares during the period. Patriot Financial Group Insurance Agency LLC increased its position in shares of Costco Wholesale by 0.7% during the first quarter. Patriot Financial Group Insurance Agency LLC now owns 2,994 shares of the retailer’s stock worth $1,488,000 after acquiring an additional 21 shares during the period. TrinityPoint Wealth LLC increased its position in shares of Costco Wholesale by 1.0% during the first quarter. TrinityPoint Wealth LLC now owns 2,116 shares of the retailer’s stock worth $1,051,000 after acquiring an additional 21 shares during the period. Finally, Capital Wealth Alliance LLC increased its position in shares of Costco Wholesale by 2.1% during the first quarter. Capital Wealth Alliance LLC now owns 1,007 shares of the retailer’s stock worth $500,000 after acquiring an additional 21 shares during the period. 66.31% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Costco Wholesale

In other Costco Wholesale news, Director Susan L. Decker sold 1,565 shares of Costco Wholesale stock in a transaction 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 owns 13,329 shares of the company’s stock, valued at $7,104,357. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.22% of the stock is owned by corporate insiders.

Costco Wholesale Trading Down 0.1 %

NASDAQ COST opened at $555.99 on Monday. Costco Wholesale Co. has a 1 year low of $447.90 and a 1 year high of $571.16. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.08 and a quick ratio of 0.57. The company has a fifty day moving average of $551.21 and a 200 day moving average of $519.89. The company has a market capitalization of $246.36 billion, a PE ratio of 41.21, a P/E/G ratio of 4.17 and a beta of 0.79.

Costco Wholesale Dividend Announcement

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

Wall Street Analyst Weigh In

A number of brokerages have recently commented on COST. UBS Group raised their target price on shares of Costco Wholesale from $560.00 to $640.00 and gave the stock a “buy” rating in a research report on Thursday, August 3rd. Loop Capital raised their target price on shares of Costco Wholesale from $545.00 to $570.00 in a research report on Friday, June 2nd. Robert W. Baird raised their target price on shares of Costco Wholesale from $535.00 to $550.00 in a research report on Friday, July 7th. 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. Finally, 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 report on Thursday, August 3rd. Five analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Costco Wholesale currently has an average rating of “Moderate Buy” and a consensus price target 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.