Los Angeles Capital Management LLC Decreases Stake in Costco Wholesale Co. (NASDAQ:COST)

Los Angeles Capital Management LLC reduced its position in Costco Wholesale Co. (NASDAQ:COST) by 3.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 280,543 shares of the retailer’s stock after selling 10,987 shares during the period. Costco Wholesale accounts for about 0.9% of Los Angeles Capital Management LLC’s investment portfolio, making the stock its 18th biggest position. Los Angeles Capital Management LLC’s holdings in Costco Wholesale were worth $238,459,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in COST. Frank Rimerman Advisors LLC purchased a new stake in Costco Wholesale during the fourth quarter valued at approximately $26,000. Redmont Wealth Advisors LLC purchased a new stake in Costco Wholesale during the first quarter valued at approximately $32,000. Vima LLC purchased a new stake in Costco Wholesale during the fourth quarter valued at approximately $34,000. DSM Capital Partners LLC purchased a new stake in Costco Wholesale during the fourth quarter valued at approximately $36,000. Finally, Financial Connections Group Inc. raised its position in Costco Wholesale by 557.1% during the second quarter. Financial Connections Group Inc. now owns 46 shares of the retailer’s stock valued at $39,000 after purchasing an additional 39 shares during the period. 68.48% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently commented on COST. Bank of America upped their target price on Costco Wholesale from $874.00 to $962.00 and gave the company a “buy” rating in a research note on Thursday, July 11th. Barclays upped their target price on Costco Wholesale from $765.00 to $830.00 and gave the company an “equal weight” rating in a research note on Thursday, July 11th. Stifel Nicolaus increased their price objective on Costco Wholesale from $910.00 to $915.00 and gave the stock a “buy” rating in a research note on Friday. Oppenheimer increased their price objective on Costco Wholesale from $925.00 to $955.00 and gave the stock an “outperform” rating in a research note on Friday. Finally, Gordon Haskett raised Costco Wholesale from an “accumulate” rating to a “buy” rating and set a $925.00 price objective on the stock in a research note on Thursday, August 8th. Seven research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $828.73.

Costco Wholesale Stock Performance

COST stock traded down $9.30 during midday trading on Friday, reaching $876.68. The stock had a trading volume of 2,074,604 shares, compared to its average volume of 1,959,834. The stock has a market cap of $388.66 billion, a PE ratio of 54.32, a P/E/G ratio of 5.98 and a beta of 0.80. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.45 and a current ratio of 0.94. The firm has a fifty day simple moving average of $857.45 and a two-hundred day simple moving average of $799.68. Costco Wholesale Co. has a 52-week low of $540.23 and a 52-week high of $918.93.

Costco Wholesale Dividend Announcement

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

Insider Buying and Selling

In related news, insider Daniel M. Hines sold 1,500 shares of the firm’s stock in a transaction on Friday, July 12th. The stock was sold at an average price of $844.20, for a total value of $1,266,300.00. Following the completion of the transaction, the insider now owns 12,492 shares in the company, valued at approximately $10,545,746.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Daniel M. Hines sold 1,500 shares of the firm’s stock in a transaction on Friday, July 12th. The stock was sold at an average price of $844.20, for a total value of $1,266,300.00. Following the completion of the transaction, the insider now owns 12,492 shares in the company, valued at approximately $10,545,746.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Richard A. Galanti sold 500 shares of the stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $874.05, for a total value of $437,025.00. Following the sale, the executive vice president now directly owns 22,900 shares in the company, valued at $20,015,745. The disclosure for this sale can be found here. Insiders sold 4,974 shares of company stock worth $4,252,856 in the last 90 days. Insiders own 0.18% of the company’s stock.

Costco Wholesale Profile

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.