Chesapeake Wealth Management Purchases 117 Shares of Costco Wholesale Co. (NASDAQ:COST)

Chesapeake Wealth Management boosted its position in shares of Costco Wholesale Co. (NASDAQ:COST) by 20.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 686 shares of the retailer’s stock after buying an additional 117 shares during the period. Chesapeake Wealth Management’s holdings in Costco Wholesale were worth $583,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in COST. Frank Rimerman Advisors LLC bought a new position in shares of Costco Wholesale in the 4th quarter valued at about $26,000. Redmont Wealth Advisors LLC purchased a new stake in Costco Wholesale during the first quarter valued at approximately $32,000. Vima LLC bought a new stake in shares of Costco Wholesale in the 4th quarter valued at approximately $34,000. DSM Capital Partners LLC purchased a new position in shares of Costco Wholesale in the 4th quarter worth approximately $36,000. Finally, Financial Connections Group Inc. increased its position 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 valued at $39,000 after purchasing an additional 39 shares during the last quarter. Hedge funds and other institutional investors own 68.48% of the company’s stock.

Insider Buying and Selling

In other Costco Wholesale news, Director Kenneth D. Denman sold 350 shares of Costco Wholesale 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 transaction, the director now owns 5,920 shares in the company, valued at $5,041,057.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Costco Wholesale news, Director Kenneth D. Denman sold 350 shares of the firm’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 directly owns 5,920 shares in the company, valued at $5,041,057.60. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Daniel M. Hines sold 1,500 shares of Costco Wholesale stock in a transaction on Monday, July 15th. The stock was sold at an average price of $848.53, for a total transaction of $1,272,795.00. Following the completion of the transaction, the insider now directly owns 10,992 shares in the company, valued at $9,327,041.76. The disclosure for this sale can be found here. Insiders sold 4,974 shares of company stock worth $4,252,856 in the last three months. 0.18% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Robert W. Baird raised their price target on Costco Wholesale from $850.00 to $975.00 and gave the stock an “outperform” rating in a research report on Thursday, July 11th. 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. Redburn Atlantic downgraded shares of Costco Wholesale from a “buy” rating to a “neutral” rating and upped their price target for the company from $860.00 to $890.00 in a report on Tuesday, September 10th. Citigroup increased their price objective on shares of Costco Wholesale from $710.00 to $800.00 and gave the stock a “neutral” rating in a research report on Friday, May 31st. Finally, StockNews.com upgraded Costco Wholesale from a “hold” rating to a “buy” rating in a research report on Friday, September 6th. Eight equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $844.52.

Costco Wholesale Stock Performance

Shares of COST stock opened at $906.98 on Friday. The firm has a market cap of $402.10 billion, a price-to-earnings ratio of 56.19, a PEG ratio of 5.51 and a beta of 0.80. Costco Wholesale Co. has a 52-week low of $540.23 and a 52-week high of $923.83. The company has a quick ratio of 0.45, a current ratio of 0.94 and a debt-to-equity ratio of 0.27. The company’s 50 day moving average is $864.85 and its 200 day moving average is $810.90.

Costco Wholesale Announces Dividend

The business also recently declared 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 0.51%. Costco Wholesale’s dividend payout ratio 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.