Brighton Jones LLC Acquires 346 Shares of Costco Wholesale Co. (NASDAQ:COST)

Brighton Jones LLC lifted its holdings in Costco Wholesale Co. (NASDAQ:COST) by 1.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 18,950 shares of the retailer’s stock after acquiring an additional 346 shares during the period. Brighton Jones LLC’s holdings in Costco Wholesale were worth $16,107,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Frank Rimerman Advisors LLC bought a new position in shares of Costco Wholesale in the 4th quarter worth about $26,000. Redmont Wealth Advisors LLC bought a new position in shares of Costco Wholesale in the 1st quarter worth about $32,000. Vima LLC bought a new position in shares of Costco Wholesale in the 4th quarter worth about $34,000. DSM Capital Partners LLC bought a new position in shares of Costco Wholesale in the 4th quarter worth about $36,000. Finally, Financial Connections Group Inc. increased 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 valued at $39,000 after buying an additional 39 shares in the last quarter. 68.48% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on COST. Evercore ISI boosted their target price on Costco Wholesale from $915.00 to $925.00 and gave the company an “outperform” rating in a research report on Friday, September 6th. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $925.00 target price on shares of Costco Wholesale in a research report on Friday, September 6th. BMO Capital Markets boosted their target price on Costco Wholesale from $875.00 to $950.00 and gave the company an “outperform” rating in a research report on Monday, August 12th. Tigress Financial boosted their target price on Costco Wholesale from $870.00 to $975.00 and gave the company a “buy” rating in a research report on Tuesday, June 25th. Finally, Argus boosted their target price on Costco Wholesale from $805.00 to $900.00 and gave the company a “buy” rating in a research report on Tuesday, May 28th. Eight analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. Based on data from MarketBeat, Costco Wholesale presently has an average rating of “Moderate Buy” and an average price target of $844.52.

Costco Wholesale Price Performance

Costco Wholesale stock opened at $900.74 on Friday. Costco Wholesale Co. has a 12 month low of $540.23 and a 12 month high of $923.83. 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 $863.57 and its 200 day simple moving average is $809.87. The company has a market cap of $399.33 billion, a price-to-earnings ratio of 55.81, a PEG ratio of 5.56 and a beta of 0.80.

Costco Wholesale Announces Dividend

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. The ex-dividend date of this dividend was Friday, July 26th. This represents a $4.64 dividend on an annualized basis and a yield of 0.52%. Costco Wholesale’s payout ratio is 28.75%.

Insider Buying and Selling at Costco Wholesale

In other Costco Wholesale news, Director Kenneth D. Denman sold 350 shares of the business’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $851.53, for a total transaction of $298,035.50. Following the sale, the director now owns 5,920 shares of the company’s stock, valued at approximately $5,041,057.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Kenneth D. Denman sold 350 shares of the company’s stock in a transaction 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 transaction, the director now owns 5,920 shares of the company’s stock, valued at $5,041,057.60. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Richard A. Galanti sold 500 shares of the company’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $874.05, for a total transaction of $437,025.00. Following the completion of the transaction, the executive vice president now directly owns 22,900 shares in the company, valued at approximately $20,015,745. The disclosure for this sale can be found here. Insiders have sold 4,974 shares of company stock valued at $4,252,856 in the last 90 days. 0.18% of the stock is currently owned by company insiders.

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.