Kentucky Retirement Systems Sells 277 Shares of Costco Wholesale Co. (NASDAQ:COST)

Kentucky Retirement Systems cut its stake in shares of Costco Wholesale Co. (NASDAQ:COST) by 0.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 33,421 shares of the retailer’s stock after selling 277 shares during the quarter. Costco Wholesale makes up about 0.8% of Kentucky Retirement Systems’ portfolio, making the stock its 17th largest position. Kentucky Retirement Systems’ holdings in Costco Wholesale were worth $28,408,000 as of its most recent filing with the Securities & Exchange Commission.

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

Insider Activity at Costco Wholesale

In other Costco Wholesale news, Director Kenneth D. Denman sold 350 shares of the stock in a transaction dated Monday, July 15th. The shares were 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 owns 5,920 shares in the company, valued at $5,041,057.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, 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 transaction of $437,025.00. Following the sale, the executive vice president now owns 22,900 shares of the company’s stock, valued at approximately $20,015,745. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kenneth D. Denman sold 350 shares of the firm’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $851.53, for a total value of $298,035.50. Following the completion of the transaction, the director now owns 5,920 shares of the company’s stock, valued at approximately $5,041,057.60. The disclosure for this sale can be found here. In the last three months, insiders have sold 4,974 shares of company stock worth $4,252,856. Company insiders own 0.18% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Telsey Advisory Group reissued an “outperform” rating and issued a $925.00 price target on shares of Costco Wholesale in a research report on Friday, September 6th. Redburn Atlantic lowered shares of Costco Wholesale from a “buy” rating to a “neutral” rating and raised their price objective for the company from $860.00 to $890.00 in a research note on Tuesday, September 10th. TD Cowen boosted their target price on shares of Costco Wholesale from $850.00 to $925.00 and gave the stock a “buy” rating in a research report on Friday, July 12th. Stifel Nicolaus raised their price target on shares of Costco Wholesale from $910.00 to $915.00 and gave the company a “buy” rating in a research report on Friday, September 6th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on Costco Wholesale from $925.00 to $927.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. Eight equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $844.52.

Costco Wholesale Price Performance

Costco Wholesale stock opened at $892.52 on Thursday. 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 business’s 50 day simple moving average is $862.49 and its 200 day simple moving average is $809.24. Costco Wholesale Co. has a 12 month low of $540.23 and a 12 month high of $923.83. The company has a market cap of $395.68 billion, a price-to-earnings ratio of 55.30, a PEG ratio of 5.56 and a beta of 0.80.

Costco Wholesale Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 9th. Investors of record on Friday, July 26th were issued a $1.16 dividend. This represents a $4.64 annualized dividend and a yield of 0.52%. The ex-dividend date was Friday, July 26th. Costco Wholesale’s dividend payout ratio (DPR) is currently 28.75%.

About Costco Wholesale

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.