AGF Management Ltd. Buys 3,210 Shares of Costco Wholesale Co. (NASDAQ:COST)

AGF Management Ltd. grew its stake in Costco Wholesale Co. (NASDAQ:COST) by 6.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 50,820 shares of the retailer’s stock after purchasing an additional 3,210 shares during the quarter. AGF Management Ltd.’s holdings in Costco Wholesale were worth $43,196,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Frank Rimerman Advisors LLC bought a new position in Costco Wholesale in the 4th quarter valued at about $26,000. Redmont Wealth Advisors LLC bought a new position in shares of Costco Wholesale during the first quarter worth approximately $32,000. Financial Connections Group Inc. lifted its holdings in Costco Wholesale by 557.1% during the 2nd quarter. Financial Connections Group Inc. now owns 46 shares of the retailer’s stock worth $39,000 after purchasing an additional 39 shares during the last quarter. Vima LLC bought a new stake in Costco Wholesale in the 4th quarter valued at $34,000. Finally, DSM Capital Partners LLC acquired a new position in Costco Wholesale in the 4th quarter valued at $36,000. Institutional investors and hedge funds own 68.48% of the company’s stock.

Insider Buying and Selling at Costco Wholesale

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

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on COST. Loop Capital boosted their target price on shares of Costco Wholesale from $970.00 to $975.00 and gave the company a “buy” rating in a research report on Friday, September 6th. Citigroup boosted their price objective on shares of Costco Wholesale from $710.00 to $800.00 and gave the company a “neutral” rating in a report on Friday, May 31st. BMO Capital Markets raised their target price on shares of Costco Wholesale from $875.00 to $950.00 and gave the stock an “outperform” rating in a report on Monday, August 12th. Stifel Nicolaus increased their price target on Costco Wholesale from $910.00 to $915.00 and gave the stock a “buy” rating in a research report on Friday, September 6th. Finally, StockNews.com raised Costco Wholesale from a “hold” rating to a “buy” rating in a report on Friday, September 6th. Eight investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. Based on data from MarketBeat, Costco Wholesale has an average rating of “Moderate Buy” and a consensus target price of $844.52.

Costco Wholesale Stock Performance

NASDAQ:COST opened at $894.29 on Wednesday. The stock’s 50-day moving average is $859.16 and its 200-day moving average is $802.98. Costco Wholesale Co. has a 1-year low of $540.23 and a 1-year high of $918.93. The company has a current ratio of 0.94, a quick ratio of 0.45 and a debt-to-equity ratio of 0.27. The stock has a market cap of $396.47 billion, a P/E ratio of 55.41, a price-to-earnings-growth ratio of 5.33 and a beta of 0.80.

Costco Wholesale Dividend Announcement

The firm also recently announced 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 0.52%. The ex-dividend date of this dividend was Friday, July 26th. Costco Wholesale’s payout ratio is 28.75%.

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.