Frank Rimerman Advisors LLC Has $8.14 Million Holdings in Costco Wholesale Co. (NASDAQ:COST)

Frank Rimerman Advisors LLC lifted its position in shares of Costco Wholesale Co. (NASDAQ:COST) by 23,837.5% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,575 shares of the retailer’s stock after purchasing an additional 9,535 shares during the quarter. Costco Wholesale accounts for 0.6% of Frank Rimerman Advisors LLC’s investment portfolio, making the stock its 22nd largest holding. Frank Rimerman Advisors LLC’s holdings in Costco Wholesale were worth $8,139,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of COST. Holderness Investments Co. raised its holdings in Costco Wholesale by 1.6% during the second quarter. Holderness Investments Co. now owns 6,484 shares of the retailer’s stock worth $5,511,000 after buying an additional 102 shares during the last quarter. Kowal Investment Group LLC raised its holdings in shares of Costco Wholesale by 9.5% in the 2nd quarter. Kowal Investment Group LLC now owns 1,045 shares of the retailer’s stock worth $888,000 after acquiring an additional 91 shares during the last quarter. Merriman Wealth Management LLC lifted its position in Costco Wholesale by 3.0% in the 2nd quarter. Merriman Wealth Management LLC now owns 8,342 shares of the retailer’s stock valued at $7,090,000 after acquiring an additional 245 shares in the last quarter. Connecticut Wealth Management LLC boosted its stake in Costco Wholesale by 3.2% during the 2nd quarter. Connecticut Wealth Management LLC now owns 7,665 shares of the retailer’s stock valued at $6,515,000 after purchasing an additional 241 shares during the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC increased its holdings in Costco Wholesale by 13.0% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,356 shares of the retailer’s stock worth $1,153,000 after purchasing an additional 156 shares in the last quarter. 68.48% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

COST has been the topic of several analyst reports. Citigroup lifted their target price on Costco Wholesale from $710.00 to $800.00 and gave the company a “neutral” rating in a research report on Friday, May 31st. Loop Capital upped their target price on shares of Costco Wholesale from $970.00 to $975.00 and gave the stock a “buy” rating in a research note on Friday, September 6th. Morgan Stanley raised their price target on shares of Costco Wholesale from $855.00 to $950.00 and gave the company an “overweight” rating in a research report on Monday, September 9th. Gordon Haskett upgraded shares of Costco Wholesale from an “accumulate” rating to a “buy” rating and set a $925.00 price target on the stock in a report on Thursday, August 8th. Finally, Argus lifted their target price on shares of Costco Wholesale from $805.00 to $900.00 and gave the stock a “buy” rating in a research report on Tuesday, May 28th. Eight investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $844.52.

Costco Wholesale Trading Up 0.7 %

Shares of COST stock opened at $906.98 on Friday. The stock has a market capitalization of $402.10 billion, a price-to-earnings ratio of 56.19, a PEG ratio of 5.51 and a beta of 0.80. The company’s fifty day simple moving average is $864.85 and its two-hundred day simple moving average is $811.25. Costco Wholesale Co. has a 1 year low of $540.23 and a 1 year high of $923.83. 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 Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 9th. Investors of record on Friday, July 26th were issued a dividend of $1.16 per share. The ex-dividend date was Friday, July 26th. This represents a $4.64 dividend on an annualized basis and a yield of 0.51%. Costco Wholesale’s dividend payout ratio (DPR) is 28.75%.

Insiders Place Their Bets

In other news, insider Daniel M. Hines sold 1,500 shares of the stock in a transaction dated 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 of the company’s stock, valued at $10,545,746.40. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, insider Daniel M. Hines sold 1,500 shares of the company’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 transaction of $1,266,300.00. Following the sale, the insider now owns 12,492 shares of the company’s stock, valued at approximately $10,545,746.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kenneth D. Denman sold 350 shares of the firm’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 completion of the transaction, the director now directly owns 5,920 shares of the company’s stock, valued at $5,041,057.60. The disclosure for this sale can be found here. Insiders sold a total of 4,974 shares of company stock worth $4,252,856 in the last quarter. 0.18% of the stock is owned by company insiders.

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.