Richardson Financial Services Inc. Has $1.10 Million Position in Costco Wholesale Co. (NASDAQ:COST)

Richardson Financial Services Inc. trimmed its holdings in Costco Wholesale Co. (NASDAQ:COST) by 95.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,296 shares of the retailer’s stock after selling 28,129 shares during the quarter. Costco Wholesale comprises about 0.8% of Richardson Financial Services Inc.’s portfolio, making the stock its 29th biggest position. Richardson Financial Services Inc.’s holdings in Costco Wholesale were worth $1,102,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Concorde Asset Management LLC boosted its stake in Costco Wholesale by 9.4% during the second quarter. Concorde Asset Management LLC now owns 731 shares of the retailer’s stock worth $622,000 after acquiring an additional 63 shares in the last quarter. Paces Ferry Wealth Advisors LLC raised its holdings in shares of Costco Wholesale by 5.3% during the second quarter. Paces Ferry Wealth Advisors LLC now owns 972 shares of the retailer’s stock valued at $826,000 after purchasing an additional 49 shares during the period. Sienna Gestion boosted its position in shares of Costco Wholesale by 4.3% during the 2nd quarter. Sienna Gestion now owns 15,652 shares of the retailer’s stock worth $13,298,000 after purchasing an additional 645 shares in the last quarter. First Washington CORP grew its stake in shares of Costco Wholesale by 1.0% in the 2nd quarter. First Washington CORP now owns 10,304 shares of the retailer’s stock valued at $8,758,000 after buying an additional 97 shares during the period. Finally, Beck Bode LLC increased its position in Costco Wholesale by 1.7% in the 2nd quarter. Beck Bode LLC now owns 15,957 shares of the retailer’s stock valued at $13,563,000 after buying an additional 260 shares in the last quarter. Institutional investors own 68.48% of the company’s stock.

Costco Wholesale Trading Down 0.5 %

Shares of COST stock opened at $892.52 on Thursday. Costco Wholesale Co. has a 12-month low of $540.23 and a 12-month high of $923.83. 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 50 day moving average of $862.49 and a 200-day moving average of $809.24. The firm has a market cap of $395.68 billion, a P/E ratio of 55.30, a PEG ratio of 5.56 and a beta of 0.80.

Costco Wholesale Announces Dividend

The company also recently announced 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 dividend yield of 0.52%. Costco Wholesale’s payout ratio is presently 28.75%.

Wall Street Analyst Weigh In

COST has been the subject of several recent research reports. 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. Telsey Advisory Group restated an “outperform” rating and set a $925.00 price target on shares of Costco Wholesale in a research note on Friday, September 6th. Tigress Financial raised their price objective on shares of Costco Wholesale from $870.00 to $975.00 and gave the company a “buy” rating in a research note on Tuesday, June 25th. Stifel Nicolaus boosted their target price on shares of Costco Wholesale from $910.00 to $915.00 and gave the stock a “buy” rating in a research report on Friday, September 6th. Finally, DA Davidson reaffirmed a “neutral” rating and issued a $780.00 price target on shares of Costco Wholesale in a research 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. According to data from MarketBeat, Costco Wholesale presently has an average rating of “Moderate Buy” and a consensus target price of $844.52.

Insider Activity

In related news, insider Daniel M. Hines sold 1,500 shares of the business’s stock in a transaction dated Friday, July 12th. The stock was 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 in the company, valued at approximately $10,545,746.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Susan L. Decker sold 620 shares of the firm’s stock in a transaction 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 transaction, the director now directly owns 11,775 shares of the company’s stock, valued at $10,320,787.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Daniel M. Hines sold 1,500 shares of the business’s stock in a transaction on 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 owns 12,492 shares in the company, valued at $10,545,746.40. The disclosure for this sale can be found here. Insiders have sold 4,974 shares of company stock valued at $4,252,856 in the last 90 days. 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.