Costco Wholesale Co. (NASDAQ:COST) Stock Position Cut by Beaton Management Co. Inc.

Beaton Management Co. Inc. trimmed its holdings in Costco Wholesale Co. (NASDAQ:COST) by 2.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,970 shares of the retailer’s stock after selling 87 shares during the quarter. Costco Wholesale accounts for about 1.8% of Beaton Management Co. Inc.’s portfolio, making the stock its 15th biggest holding. Beaton Management Co. Inc.’s holdings in Costco Wholesale were worth $3,374,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. Frank Rimerman Advisors LLC acquired a new position in Costco Wholesale during the fourth quarter valued at approximately $26,000. Redmont Wealth Advisors LLC acquired a new position in shares of Costco Wholesale in the first quarter valued at $32,000. Financial Connections Group Inc. lifted its holdings in shares of 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 acquiring an additional 39 shares during the period. Vima LLC acquired a new stake in Costco Wholesale during the fourth quarter valued at approximately $34,000. Finally, DSM Capital Partners LLC acquired a new position in Costco Wholesale during the fourth quarter worth $36,000. 68.48% of the stock is owned by institutional investors.

Insider Activity at Costco Wholesale

In related news, insider Daniel M. Hines sold 1,500 shares of the firm’s 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 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 at the SEC website. In other news, insider Daniel M. Hines sold 1,500 shares of the firm’s 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 sale, the insider now directly owns 12,492 shares in the company, valued at approximately $10,545,746.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kenneth D. Denman sold 350 shares of the business’s stock in a transaction on Monday, July 15th. The stock was 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 directly owns 5,920 shares in the company, 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 valued at $4,252,856. 0.18% of the stock is owned by corporate insiders.

Costco Wholesale Price Performance

COST stock opened at $900.74 on Friday. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.94 and a quick ratio of 0.45. Costco Wholesale Co. has a 1 year low of $540.23 and a 1 year high of $923.83. The company has a market cap of $399.33 billion, a P/E ratio of 55.81, a PEG ratio of 5.56 and a beta of 0.80. The firm has a 50-day moving average of $863.57 and a 200 day moving average of $809.87.

Costco Wholesale Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 9th. Shareholders 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 annualized dividend and a yield of 0.52%. Costco Wholesale’s dividend payout ratio (DPR) is presently 28.75%.

Analyst Ratings Changes

Several equities analysts have issued reports on COST shares. Oppenheimer lifted their price objective on Costco Wholesale from $925.00 to $955.00 and gave the company an “outperform” rating in a research report on Friday, September 6th. StockNews.com upgraded shares of Costco Wholesale from a “hold” rating to a “buy” rating in a research report on Friday, September 6th. Redburn Atlantic cut shares of Costco Wholesale from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $860.00 to $890.00 in a report on Tuesday, September 10th. Deutsche Bank Aktiengesellschaft increased their price target on Costco Wholesale from $925.00 to $927.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. Finally, TD Cowen upped their target price on shares of Costco Wholesale from $850.00 to $925.00 and gave the stock a “buy” rating in a research note on Friday, July 12th. Eight research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. According to MarketBeat, Costco Wholesale currently has an average rating of “Moderate Buy” and an average target price of $844.52.

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.