CCLA Investment Management Sells 7,771 Shares of Costco Wholesale Co. (NASDAQ:COST)

CCLA Investment Management lessened its stake in Costco Wholesale Co. (NASDAQ:COST) by 7.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 91,801 shares of the retailer’s stock after selling 7,771 shares during the period. CCLA Investment Management’s holdings in Costco Wholesale were worth $77,995,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Frank Rimerman Advisors LLC bought a new position in Costco Wholesale in the 4th quarter worth approximately $26,000. Redmont Wealth Advisors LLC bought a new position in Costco Wholesale in the 1st quarter worth approximately $32,000. Financial Connections Group Inc. raised its position in Costco Wholesale by 557.1% in 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 position in Costco Wholesale in the 4th quarter worth approximately $34,000. Finally, DSM Capital Partners LLC bought a new position in Costco Wholesale in the 4th quarter worth approximately $36,000. Institutional investors own 68.48% of the company’s stock.

Wall Street Analyst Weigh In

COST has been the subject of several recent research reports. Barclays upped their target price on shares of Costco Wholesale from $765.00 to $830.00 and gave the company an “equal weight” rating in a research report on Thursday, July 11th. Loop Capital upped their price objective on Costco Wholesale from $970.00 to $975.00 and gave the company a “buy” rating in a report on Friday, September 6th. Wells Fargo & Company increased their target price 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. Deutsche Bank Aktiengesellschaft boosted their target price on Costco Wholesale from $925.00 to $927.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. Finally, Gordon Haskett raised shares of 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. Eight 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.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $844.52.

Insider Activity

In other news, insider Daniel M. Hines sold 1,500 shares of Costco Wholesale 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 sale, the insider now directly owns 12,492 shares in the company, valued at $10,545,746.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Susan L. Decker sold 620 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $876.50, for a total transaction of $543,430.00. Following the transaction, the director now directly 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 link. 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 transaction, the insider now owns 12,492 shares in the company, valued at $10,545,746.40. The disclosure for this sale can be found here. Insiders have sold 4,974 shares of company stock worth $4,252,856 over the last ninety days. Insiders own 0.18% of the company’s stock.

Costco Wholesale Stock Performance

Shares of COST opened at $897.27 on Wednesday. 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 Co. has a twelve month low of $540.23 and a twelve month high of $923.83. The firm has a market cap of $397.79 billion, a P/E ratio of 55.59, a PEG ratio of 5.56 and a beta of 0.80. The firm’s 50 day moving average price is $862.32 and its two-hundred day moving average price is $808.65.

Costco Wholesale Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 9th. Stockholders of record on Friday, July 26th were issued a $1.16 dividend. The ex-dividend date was Friday, July 26th. This represents a $4.64 dividend on an annualized basis and a dividend yield of 0.52%. Costco Wholesale’s dividend payout ratio (DPR) is presently 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.