Canada Pension Plan Investment Board Cuts Holdings in Costco Wholesale Co. (NASDAQ:COST)

Canada Pension Plan Investment Board lowered its stake in shares of Costco Wholesale Co. (NASDAQ:COST) by 24.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 866,308 shares of the retailer’s stock after selling 282,827 shares during the period. Costco Wholesale accounts for about 0.7% of Canada Pension Plan Investment Board’s investment portfolio, making the stock its 29th biggest holding. Canada Pension Plan Investment Board owned approximately 0.20% of Costco Wholesale worth $736,353,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Gilbert & Cook Inc. lifted its position in shares of Costco Wholesale by 57.3% during the fourth quarter. Gilbert & Cook Inc. now owns 626 shares of the retailer’s stock valued at $413,000 after buying an additional 228 shares during the last quarter. Aveo Capital Partners LLC raised its stake in shares of Costco Wholesale by 14.5% during the 4th quarter. Aveo Capital Partners LLC now owns 1,065 shares of the retailer’s stock worth $703,000 after acquiring an additional 135 shares in the last quarter. Gryphon Financial Partners LLC lifted its position in Costco Wholesale by 62.6% during the fourth quarter. Gryphon Financial Partners LLC now owns 3,309 shares of the retailer’s stock valued at $2,184,000 after acquiring an additional 1,274 shares during the last quarter. TrinityPoint Wealth LLC boosted its stake in Costco Wholesale by 15.5% in the fourth quarter. TrinityPoint Wealth LLC now owns 2,475 shares of the retailer’s stock valued at $1,633,000 after acquiring an additional 332 shares in the last quarter. Finally, Tidemark LLC purchased a new position in Costco Wholesale in the fourth quarter worth $161,000. Institutional investors own 68.48% of the company’s stock.

Insider Buying and Selling at Costco Wholesale

In other 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 transaction of $1,266,300.00. Following the sale, the insider now directly owns 12,492 shares of the company’s stock, valued at approximately $10,545,746.40. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other Costco Wholesale news, EVP Richard A. Galanti sold 500 shares of the stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $863.88, for a total transaction of $431,940.00. Following the transaction, the executive vice president now directly owns 23,800 shares of the company’s stock, valued at $20,560,344. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, 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 transaction of $1,266,300.00. Following the sale, the insider now directly owns 12,492 shares of the company’s stock, valued at approximately $10,545,746.40. The disclosure for this sale can be found here. Over the last quarter, insiders sold 4,974 shares of company stock valued at $4,252,856. Corporate insiders own 0.18% of the company’s stock.

Costco Wholesale Trading Up 0.9 %

Costco Wholesale stock opened at $900.74 on Friday. The company has a current ratio of 0.94, a quick ratio of 0.45 and a debt-to-equity ratio of 0.27. The firm has a market cap of $399.33 billion, a PE ratio of 55.81, a P/E/G ratio of 5.56 and a beta of 0.80. The stock’s 50 day simple moving average is $863.57 and its two-hundred day simple moving average is $809.87. Costco Wholesale Co. has a 12 month low of $540.23 and a 12 month high of $923.83.

Costco Wholesale Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 9th. Investors of record on Friday, July 26th were given a dividend of $1.16 per share. The ex-dividend date was Friday, July 26th. This represents a $4.64 annualized dividend and a yield of 0.52%. Costco Wholesale’s dividend payout ratio is presently 28.75%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on COST shares. Telsey Advisory Group reiterated an “outperform” rating and set a $925.00 price objective on shares of Costco Wholesale in a report on Friday, September 6th. Tigress Financial raised their price target on Costco Wholesale from $870.00 to $975.00 and gave the stock a “buy” rating in a report on Tuesday, June 25th. Evercore ISI boosted their price target on Costco Wholesale from $915.00 to $925.00 and gave the stock an “outperform” rating in a research note on Friday, September 6th. Wells Fargo & Company increased their price objective on shares of Costco Wholesale from $775.00 to $800.00 and gave the company an “equal weight” rating in a research report on Thursday, July 11th. Finally, Roth Mkm reissued a “neutral” rating and set a $676.00 target price (up previously from $650.00) on shares of Costco Wholesale in a research report on Friday, May 31st. Eight equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $844.52.

Costco Wholesale 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.