Holderness Investments Co. Has $5.51 Million Stock Holdings in Costco Wholesale Co. (NASDAQ:COST)

Holderness Investments Co. raised its stake in Costco Wholesale Co. (NASDAQ:COST) by 1.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,484 shares of the retailer’s stock after buying an additional 102 shares during the period. Costco Wholesale accounts for 1.3% of Holderness Investments Co.’s holdings, making the stock its 13th largest holding. Holderness Investments Co.’s holdings in Costco Wholesale were worth $5,511,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Frank Rimerman Advisors LLC bought a new stake in Costco Wholesale during the 4th quarter worth $26,000. Redmont Wealth Advisors LLC acquired a new stake in shares of Costco Wholesale during the first quarter valued at about $32,000. Vima LLC bought a new stake in shares of Costco Wholesale during the fourth quarter worth about $34,000. DSM Capital Partners LLC acquired a new position in shares of Costco Wholesale in the fourth quarter valued at approximately $36,000. Finally, Financial Connections Group Inc. raised its holdings 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 during the last quarter. Institutional investors own 68.48% of the company’s stock.

Costco Wholesale Trading Up 0.7 %

Shares of Costco Wholesale stock opened at $906.98 on Friday. The stock has a market capitalization of $402.10 billion, a PE ratio of 56.19, a price-to-earnings-growth 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 stock has a 50 day moving average price of $864.85 and a two-hundred day moving average price of $811.25. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.45 and a current ratio of 0.94.

Costco Wholesale Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 9th. Shareholders of record on Friday, July 26th were paid 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 0.51%. Costco Wholesale’s dividend payout ratio (DPR) is presently 28.75%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on COST. Roth Mkm reissued a “neutral” rating and set a $676.00 target price (up from $650.00) on shares of Costco Wholesale in a report on Friday, May 31st. Robert W. Baird increased their price objective on Costco Wholesale from $850.00 to $975.00 and gave the company an “outperform” rating in a report on Thursday, July 11th. Morgan Stanley raised their target price on Costco Wholesale from $855.00 to $950.00 and gave the stock an “overweight” rating in a research report on Monday, September 9th. Argus upped their price target on Costco Wholesale from $805.00 to $900.00 and gave the company a “buy” rating in a research report on Tuesday, May 28th. Finally, Citigroup raised their price objective on Costco Wholesale from $710.00 to $800.00 and gave the stock a “neutral” rating in a research report on Friday, May 31st. 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, the stock has a consensus rating of “Moderate Buy” and an average price target of $844.52.

Insiders Place Their Bets

In other news, insider Daniel M. Hines sold 1,500 shares of Costco Wholesale stock in a transaction dated 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 completion of the transaction, the insider now directly 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 can be accessed through this link. In related news, insider Daniel M. Hines sold 1,500 shares of the firm’s 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 transaction, the insider now owns 12,492 shares of the company’s stock, valued at approximately $10,545,746.40. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Kenneth D. Denman sold 350 shares of the business’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $851.53, for a total value of $298,035.50. Following the sale, 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. Over the last 90 days, insiders have sold 4,974 shares of company stock worth $4,252,856. Insiders own 0.18% of the company’s stock.

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.