Asset Dedication LLC Lowers Holdings in Costco Wholesale Co. (NASDAQ:COST)

Asset Dedication LLC reduced its position in shares of Costco Wholesale Co. (NASDAQ:COST) by 1.4% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 8,699 shares of the retailer’s stock after selling 121 shares during the quarter. Asset Dedication LLC’s holdings in Costco Wholesale were worth $7,394,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Norges Bank purchased a new stake in Costco Wholesale during the 4th quarter valued at $3,628,694,000. Global Assets Advisory LLC bought a new position in shares of Costco Wholesale during the first quarter valued at $510,353,000. Assenagon Asset Management S.A. boosted its position in shares of Costco Wholesale by 287.3% during the second quarter. Assenagon Asset Management S.A. now owns 836,247 shares of the retailer’s stock valued at $710,802,000 after buying an additional 620,341 shares during the last quarter. Strategic Financial Concepts LLC increased its holdings in Costco Wholesale by 51,747.5% in the 2nd quarter. Strategic Financial Concepts LLC now owns 619,578 shares of the retailer’s stock worth $5,266,000 after buying an additional 618,383 shares in the last quarter. Finally, Public Employees Retirement Association of Colorado raised its position in Costco Wholesale by 3,647.1% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 567,641 shares of the retailer’s stock worth $374,688,000 after buying an additional 552,492 shares during the last quarter. 68.48% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Daniel M. Hines sold 1,500 shares of the company’s stock in a transaction on Friday, July 12th. The shares were sold at an average price of $844.20, for a total transaction of $1,266,300.00. Following the completion of the transaction, the insider now owns 12,492 shares in the company, valued at $10,545,746.40. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, Director Kenneth D. Denman sold 350 shares of the stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $851.53, for a total transaction of $298,035.50. Following the completion of the transaction, the director now directly owns 5,920 shares in the company, valued at approximately $5,041,057.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Daniel M. Hines sold 1,500 shares of the business’s stock in a transaction 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 in the company, valued at approximately $10,545,746.40. The disclosure for this sale can be found here. Insiders have sold a total of 4,974 shares of company stock worth $4,252,856 over the last quarter. Insiders own 0.18% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the stock. Robert W. Baird lifted their price target on shares of Costco Wholesale from $850.00 to $975.00 and gave the stock an “outperform” rating in a research note on Thursday, July 11th. Evercore ISI boosted their target price on shares of Costco Wholesale from $915.00 to $925.00 and gave the company an “outperform” rating in a research note on Friday. Argus raised their price target on Costco Wholesale from $805.00 to $900.00 and gave the stock a “buy” rating in a research note on Tuesday, May 28th. Telsey Advisory Group reiterated an “outperform” rating and set a $925.00 price objective on shares of Costco Wholesale in a research report on Friday. Finally, Loop Capital raised their target price on Costco Wholesale from $970.00 to $975.00 and gave the stock a “buy” rating in a research report on Friday. Seven investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. According to MarketBeat.com, Costco Wholesale has an average rating of “Moderate Buy” and an average target price of $828.73.

Costco Wholesale Stock Performance

NASDAQ COST opened at $876.68 on Friday. The business has a 50-day moving average price of $857.45 and a 200-day moving average price of $800.19. The firm has a market cap of $388.66 billion, a price-to-earnings ratio of 54.32, a price-to-earnings-growth ratio of 5.98 and a beta of 0.80. Costco Wholesale Co. has a twelve month low of $540.23 and a twelve month high of $918.93. The company has a quick ratio of 0.45, a current ratio of 0.94 and a debt-to-equity ratio of 0.27.

Costco Wholesale Announces Dividend

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

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, 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.