Bridges Investment Management Inc. Increases Stake in Costco Wholesale Co. (NASDAQ:COST)

Bridges Investment Management Inc. raised its holdings in shares of Costco Wholesale Co. (NASDAQ:COST) by 274.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 48,140 shares of the retailer’s stock after purchasing an additional 35,269 shares during the quarter. Bridges Investment Management Inc.’s holdings in Costco Wholesale were worth $40,919,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Frank Rimerman Advisors LLC bought a new position in Costco Wholesale in the 4th quarter worth approximately $26,000. Redmont Wealth Advisors LLC bought a new stake in Costco Wholesale during the 1st quarter valued at $32,000. Financial Connections Group Inc. lifted its position 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 acquiring an additional 39 shares in the last quarter. Vima LLC bought a new position in shares of Costco Wholesale in the fourth quarter worth $34,000. Finally, DSM Capital Partners LLC purchased a new position in shares of Costco Wholesale in the fourth quarter valued at $36,000. Institutional investors own 68.48% of the company’s stock.

Costco Wholesale Trading Up 0.9 %

COST stock opened at $900.74 on Friday. The company has a market capitalization of $399.33 billion, a PE ratio of 55.81, a price-to-earnings-growth ratio of 5.56 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. Costco Wholesale Co. has a one year low of $540.23 and a one year high of $923.83. The company’s 50 day moving average price is $863.57 and its two-hundred day moving average price is $809.87.

Costco Wholesale Announces Dividend

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

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Barclays raised their target price on Costco Wholesale from $765.00 to $830.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 11th. Loop Capital boosted their price objective on shares of Costco Wholesale from $970.00 to $975.00 and gave the company a “buy” rating in a research note on Friday, September 6th. Bank of America upped their target price on shares of Costco Wholesale from $874.00 to $962.00 and gave the stock a “buy” rating in a report on Thursday, July 11th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Costco Wholesale from $925.00 to $927.00 and gave the company a “buy” rating in a report on Thursday, August 8th. Finally, Truist Financial boosted their price target on shares of Costco Wholesale from $815.00 to $873.00 and gave the company a “buy” rating in a research report on Friday, May 31st. Eight investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. Based on data from MarketBeat, Costco Wholesale has a consensus rating of “Moderate Buy” and an average target price of $844.52.

Insider Buying and Selling at Costco Wholesale

In other news, Director Susan L. Decker sold 620 shares of Costco Wholesale stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $876.50, for a total value of $543,430.00. Following the transaction, the director now owns 11,775 shares in the company, valued at $10,320,787.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Costco Wholesale news, insider Daniel M. Hines sold 1,500 shares of the stock in a transaction on 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 completion of the sale, the insider now owns 12,492 shares of the company’s stock, valued at approximately $10,545,746.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, 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 transaction of $543,430.00. Following the completion of the sale, the director now directly owns 11,775 shares in the company, valued at approximately $10,320,787.50. The disclosure for this sale can be found here. Insiders sold a total of 4,974 shares of company stock worth $4,252,856 over the last three months. Company insiders own 0.18% of the company’s stock.

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.