Costco Wholesale Co. (NASDAQ:COST) Shares Sold by Cheviot Value Management LLC

Cheviot Value Management LLC reduced its holdings in shares of Costco Wholesale Co. (NASDAQ:COST) by 3.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,137 shares of the retailer’s stock after selling 45 shares during the period. Cheviot Value Management LLC’s holdings in Costco Wholesale were worth $967,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Xponance Inc. increased its position in Costco Wholesale by 9.2% during the 2nd quarter. Xponance Inc. now owns 112,690 shares of the retailer’s stock valued at $95,785,000 after buying an additional 9,460 shares in the last quarter. Lombard Odier Asset Management Europe Ltd acquired a new position in Costco Wholesale during the 2nd quarter valued at about $6,960,000. Evergreen Capital Management LLC increased its holdings in shares of Costco Wholesale by 7.3% in the second quarter. Evergreen Capital Management LLC now owns 22,453 shares of the retailer’s stock valued at $19,085,000 after purchasing an additional 1,527 shares during the period. Public Sector Pension Investment Board increased its holdings in shares of Costco Wholesale by 17.9% in the second quarter. Public Sector Pension Investment Board now owns 47,013 shares of the retailer’s stock valued at $39,961,000 after purchasing an additional 7,131 shares during the period. Finally, Steel Grove Capital Advisors LLC increased its holdings in shares of Costco Wholesale by 9.3% in the second quarter. Steel Grove Capital Advisors LLC now owns 1,022 shares of the retailer’s stock valued at $869,000 after purchasing an additional 87 shares during the period. 68.48% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Susan L. Decker sold 620 shares of the stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $876.50, for a total value of $543,430.00. Following the completion of the sale, the director now owns 11,775 shares of the company’s stock, valued at $10,320,787.50. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, Director Kenneth D. Denman sold 350 shares of the 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 completion of the sale, the director now owns 5,920 shares of the company’s stock, valued at $5,041,057.60. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Susan L. Decker sold 620 shares of the stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $876.50, for a total value of $543,430.00. Following the completion of the sale, the director now directly owns 11,775 shares of the company’s stock, valued at approximately $10,320,787.50. The disclosure for this sale can be found here. Insiders have sold a total of 4,974 shares of company stock worth $4,252,856 over the last quarter. 0.18% of the stock is currently owned by corporate insiders.

Costco Wholesale Stock Performance

NASDAQ COST opened at $917.08 on Tuesday. The company has a market cap of $406.57 billion, a PE ratio of 56.82, a price-to-earnings-growth ratio of 5.51 and a beta of 0.80. The stock’s 50 day simple moving average is $866.22 and its 200-day simple moving average is $812.45. 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 Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. 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. Morgan Stanley increased their price objective on Costco Wholesale from $855.00 to $950.00 and gave the company an “overweight” rating in a report on Monday, September 9th. 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. StockNews.com raised Costco Wholesale from a “hold” rating to a “buy” rating in a report on Friday, September 6th. Finally, Loop Capital increased their price objective on Costco Wholesale from $970.00 to $975.00 and gave the company a “buy” rating in a 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.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $857.48.

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.