Kayne Anderson Rudnick Investment Management LLC Acquires 156 Shares of Costco Wholesale Co. (NASDAQ:COST)

Kayne Anderson Rudnick Investment Management LLC raised its holdings in Costco Wholesale Co. (NASDAQ:COST) by 13.0% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 1,356 shares of the retailer’s stock after acquiring an additional 156 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC’s holdings in Costco Wholesale were worth $1,153,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the business. Frank Rimerman Advisors LLC bought a new position in Costco Wholesale during the fourth quarter worth $26,000. Redmont Wealth Advisors LLC acquired a new position in shares of Costco Wholesale in the 1st quarter valued at about $32,000. Vima LLC bought a new stake in shares of Costco Wholesale during the 4th quarter valued at about $34,000. Financial Connections Group Inc. grew its stake in 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 purchasing an additional 39 shares during the period. Finally, Bank & Trust Co acquired a new stake in Costco Wholesale during the second quarter worth approximately $48,000. Institutional investors own 68.48% of the company’s stock.

Costco Wholesale Stock Up 1.1 %

Costco Wholesale stock opened at $917.08 on Tuesday. 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 has a market capitalization of $406.57 billion, a P/E ratio of 56.82, a P/E/G ratio of 5.51 and a beta of 0.80. The firm has a 50 day moving average price of $866.22 and a 200-day moving average price of $812.45. Costco Wholesale Co. has a twelve month low of $540.23 and a twelve month high of $923.83.

Costco Wholesale Dividend Announcement

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

Insider Buying and Selling

In other Costco Wholesale news, Director Kenneth D. Denman sold 350 shares of the company’s 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 sale, the director now directly 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. In related news, Director Susan L. Decker sold 620 shares of the stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $876.50, for a total transaction of $543,430.00. Following the sale, the director now owns 11,775 shares of the company’s stock, valued at approximately $10,320,787.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kenneth D. Denman sold 350 shares of the firm’s 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 completion of the transaction, 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 valued at $4,252,856. 0.18% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on COST shares. BMO Capital Markets increased their price target on Costco Wholesale from $875.00 to $950.00 and gave the stock an “outperform” rating in a report on Monday, August 12th. TD Cowen lifted their price target on shares of Costco Wholesale from $850.00 to $925.00 and gave the company a “buy” rating in a research note on Friday, July 12th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Costco Wholesale from $925.00 to $927.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. StockNews.com raised Costco Wholesale from a “hold” rating to a “buy” rating in a research report on Friday, September 6th. Finally, DA Davidson reiterated a “neutral” rating and issued a $780.00 price target on shares of Costco Wholesale in a report on Friday, September 6th. Eight analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $857.48.

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.