Howard Capital Management Inc. Boosts Stock Holdings in Costco Wholesale Co. (NASDAQ:COST)

Howard Capital Management Inc. grew its position in shares of Costco Wholesale Co. (NASDAQ:COST) by 320.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,266 shares of the retailer’s stock after acquiring an additional 2,490 shares during the quarter. Costco Wholesale accounts for approximately 0.3% of Howard Capital Management Inc.’s portfolio, making the stock its 28th largest holding. Howard Capital Management Inc.’s holdings in Costco Wholesale were worth $2,776,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the company. Gilbert & Cook Inc. boosted its holdings in shares of Costco Wholesale by 57.3% in the 4th quarter. Gilbert & Cook Inc. now owns 626 shares of the retailer’s stock worth $413,000 after buying an additional 228 shares during the last quarter. Aveo Capital Partners LLC boosted its holdings in shares of Costco Wholesale by 14.5% in the 4th quarter. Aveo Capital Partners LLC now owns 1,065 shares of the retailer’s stock worth $703,000 after buying an additional 135 shares during the last quarter. Gryphon Financial Partners LLC boosted its holdings in shares of Costco Wholesale by 62.6% in the 4th quarter. Gryphon Financial Partners LLC now owns 3,309 shares of the retailer’s stock worth $2,184,000 after buying an additional 1,274 shares during the last quarter. Lebenthal Global Advisors LLC purchased a new position in shares of Costco Wholesale in the 4th quarter worth about $501,000. Finally, Calton & Associates Inc. purchased a new position in shares of Costco Wholesale in the 4th quarter worth about $352,000. 68.48% of the stock is owned by hedge funds and other institutional investors.

Costco Wholesale Stock Down 1.0 %

Shares of COST opened at $876.68 on Friday. The firm has a market cap of $388.66 billion, a P/E ratio of 54.32, a P/E/G ratio of 5.98 and a beta of 0.80. The stock has a 50 day simple moving average of $857.45 and a two-hundred day simple moving average of $799.68. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.94 and a quick ratio of 0.45. Costco Wholesale Co. has a 1 year low of $540.23 and a 1 year high of $918.93.

Costco Wholesale Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 9th. Stockholders of record on Friday, July 26th were paid a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a dividend yield of 0.53%. The ex-dividend date of this dividend was Friday, July 26th. Costco Wholesale’s dividend payout ratio (DPR) is presently 28.75%.

Analyst Ratings Changes

COST has been the topic of a number of research analyst reports. Roth Mkm reissued a “neutral” rating and issued a $676.00 price target (up from $650.00) on shares of Costco Wholesale in a report on Friday, May 31st. Wells Fargo & Company boosted their price objective on Costco Wholesale from $775.00 to $800.00 and gave the company an “equal weight” rating in a research note on Thursday, July 11th. Truist Financial upped their price target on Costco Wholesale from $815.00 to $873.00 and gave the company a “buy” rating in a research report on Friday, May 31st. Oppenheimer upped their price target on Costco Wholesale from $925.00 to $955.00 and gave the company an “outperform” rating in a research report on Friday. Finally, Bank of America upped their price target on Costco Wholesale from $874.00 to $962.00 and gave the company a “buy” rating in a research report on Thursday, July 11th. Seven equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $828.73.

Insider Activity

In other news, insider Daniel M. Hines sold 1,500 shares of the stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $844.20, for a total transaction of $1,266,300.00. Following the completion of the sale, the insider now owns 12,492 shares of the company’s stock, valued at $10,545,746.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, Director Susan L. Decker sold 620 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $876.50, for a total transaction of $543,430.00. Following the completion of the transaction, the director now owns 11,775 shares in the company, valued at $10,320,787.50. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Daniel M. Hines sold 1,500 shares of the company’s stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $844.20, for a total value of $1,266,300.00. Following the transaction, the insider now owns 12,492 shares of the company’s stock, valued at approximately $10,545,746.40. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 4,974 shares of company stock valued at $4,252,856. 0.18% of the stock is currently owned by company insiders.

About Costco Wholesale

Costco Wholesale Corporation, together with its subsidiaries, engages in the operation of membership warehouses in the United States, Puerto Rico, Canada, Mexico, Japan, the United Kingdom, Korea, Australia, Taiwan, China, Spain, France, Iceland, New Zealand, and Sweden. The company offers branded and private-label products in a range of merchandise categories.