Edge Capital Group LLC Has $1.55 Million Stock Position in Costco Wholesale Co. (NASDAQ:COST)

Edge Capital Group LLC raised its position in shares of Costco Wholesale Co. (NASDAQ:COST) by 1.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,827 shares of the retailer’s stock after purchasing an additional 27 shares during the period. Edge Capital Group LLC’s holdings in Costco Wholesale were worth $1,553,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Frank Rimerman Advisors LLC acquired a new position in shares of Costco Wholesale during the fourth quarter worth $26,000. Redmont Wealth Advisors LLC acquired a new position in shares of Costco Wholesale during the first quarter worth $32,000. Vima LLC acquired a new position in shares of Costco Wholesale during the fourth quarter worth $34,000. DSM Capital Partners LLC acquired a new position in shares of Costco Wholesale during the fourth quarter worth $36,000. Finally, Financial Connections Group Inc. increased its holdings in shares of Costco Wholesale by 557.1% during the second quarter. Financial Connections Group Inc. now owns 46 shares of the retailer’s stock worth $39,000 after buying an additional 39 shares in the last quarter. 68.48% of the stock is currently owned by institutional investors and hedge funds.

Costco Wholesale Price Performance

Shares of NASDAQ COST opened at $906.98 on Monday. Costco Wholesale Co. has a fifty-two week low of $540.23 and a fifty-two week high of $923.83. The stock 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. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.45 and a current ratio of 0.94. The firm’s 50-day simple moving average is $864.85 and its 200 day simple moving average is $811.52.

Costco Wholesale Dividend Announcement

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

Analyst Ratings Changes

A number of analysts recently weighed in on the company. Citigroup increased their price objective on Costco Wholesale from $710.00 to $800.00 and gave the company a “neutral” rating in a report on Friday, May 31st. Gordon Haskett upgraded Costco Wholesale from an “accumulate” rating to a “buy” rating and set a $925.00 price objective for the company in a report on Thursday, August 8th. Deutsche Bank Aktiengesellschaft increased their price objective on Costco Wholesale from $925.00 to $927.00 and gave the company a “buy” rating in a report on Thursday, August 8th. Wells Fargo & Company increased their price objective on Costco Wholesale from $775.00 to $800.00 and gave the company an “equal weight” rating in a report on Thursday, July 11th. Finally, Telsey Advisory Group restated an “outperform” rating and issued a $925.00 price objective on shares of Costco Wholesale in a report on Friday, September 6th. Seven equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $853.92.

Insider Buying and Selling at Costco Wholesale

In other Costco Wholesale 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 completion of the sale, the insider now owns 12,492 shares in the company, valued at approximately $10,545,746.40. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Costco Wholesale 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 completion of the sale, the insider now owns 12,492 shares in the company, valued at approximately $10,545,746.40. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Kenneth D. Denman sold 350 shares of the stock in a transaction dated 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 sale, the director now owns 5,920 shares of the company’s stock, valued at approximately $5,041,057.60. The disclosure for this sale can be found here. In the last 90 days, insiders sold 4,974 shares of company stock worth $4,252,856. Insiders own 0.18% of the company’s stock.

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.