Arbor Capital Management Inc. ADV Trims Holdings in Costco Wholesale Co. (NASDAQ:COST)

Arbor Capital Management Inc. ADV cut its holdings in Costco Wholesale Co. (NASDAQ:COST) by 5.9% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,633 shares of the retailer’s stock after selling 166 shares during the quarter. Costco Wholesale comprises approximately 2.0% of Arbor Capital Management Inc. ADV’s portfolio, making the stock its 12th largest holding. Arbor Capital Management Inc. ADV’s holdings in Costco Wholesale were worth $2,227,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Frank Rimerman Advisors LLC purchased a new position in Costco Wholesale in the 4th quarter valued at $26,000. Redmont Wealth Advisors LLC acquired a new position in shares of Costco Wholesale during the first quarter worth about $32,000. Financial Connections Group Inc. raised its holdings in Costco Wholesale by 557.1% during the second quarter. Financial Connections Group Inc. now owns 46 shares of the retailer’s stock worth $39,000 after purchasing an additional 39 shares in the last quarter. Vima LLC acquired a new stake in Costco Wholesale in the fourth quarter valued at about $34,000. Finally, DSM Capital Partners LLC purchased a new stake in Costco Wholesale in the 4th quarter valued at approximately $36,000. 68.48% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently commented on COST. Truist Financial raised their price target on Costco Wholesale from $815.00 to $873.00 and gave the company a “buy” rating in a report on Friday, May 31st. Tigress Financial boosted their target price on shares of Costco Wholesale from $870.00 to $975.00 and gave the stock a “buy” rating in a research report on Tuesday, June 25th. Argus increased their price target on shares of Costco Wholesale from $805.00 to $900.00 and gave the company a “buy” rating in a report on Tuesday, May 28th. Loop Capital boosted their price objective on shares of Costco Wholesale from $970.00 to $975.00 and gave the stock a “buy” rating in a report on Friday. Finally, Bank of America increased their target price on shares of Costco Wholesale from $874.00 to $962.00 and gave the company a “buy” rating in a report on Thursday, July 11th. Seven analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $828.73.

Costco Wholesale Stock Down 1.0 %

COST stock opened at $876.68 on Monday. Costco Wholesale Co. has a one year low of $540.23 and a one year high of $918.93. The stock has a market capitalization of $388.66 billion, a P/E ratio of 54.32, a PEG ratio of 5.33 and a beta of 0.80. The company has a 50 day moving average price of $857.45 and a two-hundred day moving average price of $800.74. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.45 and a current ratio of 0.94.

Costco Wholesale Dividend Announcement

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

Insider Buying and Selling at Costco Wholesale

In related news, Director Susan L. Decker sold 620 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $876.50, for a total value of $543,430.00. Following the sale, the director now directly owns 11,775 shares of the company’s stock, valued at $10,320,787.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Susan L. Decker sold 620 shares of the company’s stock in a transaction 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 sale, the director now directly owns 11,775 shares in the company, valued at approximately $10,320,787.50. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Daniel M. Hines sold 1,500 shares of Costco Wholesale stock in a transaction 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 completion of the transaction, 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 sold 4,974 shares of company stock worth $4,252,856 in the last 90 days. 0.18% of the stock is owned by company insiders.

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.