Jacobs & Co. CA Trims Stock Position in Costco Wholesale Co. (NASDAQ:COST)

Jacobs & Co. CA decreased its position in shares of Costco Wholesale Co. (NASDAQ:COST) by 2.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 31,610 shares of the retailer’s stock after selling 885 shares during the quarter. Costco Wholesale comprises approximately 2.0% of Jacobs & Co. CA’s investment portfolio, making the stock its 7th biggest holding. Jacobs & Co. CA’s holdings in Costco Wholesale were worth $17,018,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Morgan Stanley raised its holdings in Costco Wholesale by 18.0% during the 4th quarter. Morgan Stanley now owns 8,634,627 shares of the retailer’s stock worth $3,941,708,000 after buying an additional 1,315,174 shares during the period. Geode Capital Management LLC raised its holdings in shares of Costco Wholesale by 1.4% in the first quarter. Geode Capital Management LLC now owns 8,210,385 shares of the retailer’s stock valued at $4,069,186,000 after purchasing an additional 111,505 shares during the last quarter. Moneta Group Investment Advisors LLC raised its holdings in shares of Costco Wholesale by 118,320.2% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 7,396,524 shares of the retailer’s stock valued at $3,376,513,000 after purchasing an additional 7,390,278 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Costco Wholesale by 10.6% in the first quarter. Bank of New York Mellon Corp now owns 5,595,523 shares of the retailer’s stock valued at $2,780,247,000 after purchasing an additional 535,776 shares during the last quarter. Finally, Norges Bank acquired a new position in Costco Wholesale during the fourth quarter worth $2,328,844,000. Institutional investors own 66.31% of the company’s stock.

Costco Wholesale Trading Up 0.5 %

Shares of Costco Wholesale stock opened at $559.18 on Monday. Costco Wholesale Co. has a 1 year low of $447.90 and a 1 year high of $571.16. The firm has a market cap of $247.77 billion, a PE ratio of 41.21, a P/E/G ratio of 4.17 and a beta of 0.79. The stock has a fifty day moving average price of $551.21 and a 200-day moving average price of $519.89. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.08 and a quick ratio of 0.57.

Costco Wholesale Dividend Announcement

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

Analyst Ratings Changes

COST has been the topic of a number of recent analyst reports. Truist Financial boosted their target price on shares of Costco Wholesale from $567.00 to $597.00 and gave the stock a “buy” rating in a report on Thursday, August 3rd. Evercore ISI lifted their price objective on shares of Costco Wholesale from $595.00 to $600.00 and gave the stock an “outperform” rating in a research report on Friday, September 8th. Jefferies Financial Group lifted their price objective on shares of Costco Wholesale from $610.00 to $640.00 and gave the stock a “buy” rating in a research report on Wednesday, August 2nd. Wells Fargo & Company lifted their price objective on shares of Costco Wholesale from $475.00 to $510.00 in a research report on Thursday, August 3rd. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $575.00 target price on shares of Costco Wholesale in a research report on Thursday, August 31st. Five equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $566.63.

Insider Activity

In other news, Director Susan L. Decker sold 1,565 shares of the 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 completion of the transaction, the director now owns 13,329 shares in the company, valued at approximately $7,104,357. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.22% of the company’s stock.

About Costco Wholesale

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.