ProVise Management Group LLC Takes Position in Costco Wholesale Co. (NASDAQ:COST)

ProVise Management Group LLC bought a new stake in Costco Wholesale Co. (NASDAQ:COST) during the second quarter, according to its most recent disclosure with the SEC. The firm bought 294 shares of the retailer’s stock, valued at approximately $250,000.

Other hedge funds have also recently modified their holdings of the company. Mark Sheptoff Financial Planning LLC grew its position in Costco Wholesale by 2.2% during the 2nd quarter. Mark Sheptoff Financial Planning LLC now owns 3,139 shares of the retailer’s stock worth $2,668,000 after purchasing an additional 67 shares during the last quarter. Concorde Asset Management LLC boosted its holdings in shares of Costco Wholesale by 9.4% in the second quarter. Concorde Asset Management LLC now owns 731 shares of the retailer’s stock valued at $622,000 after acquiring an additional 63 shares in the last quarter. Paces Ferry Wealth Advisors LLC boosted its holdings in shares of Costco Wholesale by 5.3% in the second quarter. Paces Ferry Wealth Advisors LLC now owns 972 shares of the retailer’s stock valued at $826,000 after acquiring an additional 49 shares in the last quarter. Sienna Gestion boosted its holdings in shares of Costco Wholesale by 4.3% in the second quarter. Sienna Gestion now owns 15,652 shares of the retailer’s stock valued at $13,298,000 after acquiring an additional 645 shares in the last quarter. Finally, First Washington CORP lifted its stake in shares of Costco Wholesale by 1.0% in the second quarter. First Washington CORP now owns 10,304 shares of the retailer’s stock valued at $8,758,000 after purchasing an additional 97 shares during the period. 68.48% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other 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 completion of the transaction, the director now owns 5,920 shares in the company, valued at $5,041,057.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Kenneth D. Denman sold 350 shares of the stock in a transaction dated Monday, July 15th. The shares were 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 in the company, valued at approximately $5,041,057.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Daniel M. Hines sold 1,500 shares of the stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $848.53, for a total transaction of $1,272,795.00. Following the completion of the transaction, the insider now owns 10,992 shares of the company’s stock, valued at approximately $9,327,041.76. The disclosure for this sale can be found here. Over the last three months, insiders have sold 4,974 shares of company stock valued at $4,252,856. Company insiders own 0.18% of the company’s stock.

Costco Wholesale Stock Up 0.7 %

Shares of NASDAQ:COST opened at $906.98 on Friday. The stock has a market capitalization of $402.10 billion, a price-to-earnings ratio of 56.19, a price-to-earnings-growth ratio of 5.51 and a beta of 0.80. Costco Wholesale Co. has a 1-year low of $540.23 and a 1-year high of $923.83. The company’s fifty day moving average is $864.85 and its two-hundred day moving average is $810.90. 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 Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 9th. Shareholders of record on Friday, July 26th were issued a dividend of $1.16 per share. The ex-dividend date was Friday, July 26th. This represents a $4.64 dividend on an annualized basis and a dividend yield of 0.51%. Costco Wholesale’s dividend payout ratio (DPR) is 28.75%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Roth Mkm restated 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. Oppenheimer boosted their price objective on shares of Costco Wholesale from $925.00 to $955.00 and gave the company an “outperform” rating in a research report on Friday, September 6th. Gordon Haskett upgraded shares of Costco Wholesale from an “accumulate” rating to a “buy” rating and set a $925.00 target price for the company in a report on Thursday, August 8th. BMO Capital Markets boosted their target price on shares of Costco Wholesale from $875.00 to $950.00 and gave the company an “outperform” rating in a report on Monday, August 12th. Finally, Morgan Stanley boosted their price objective on shares of Costco Wholesale from $855.00 to $950.00 and gave the stock an “overweight” rating in a research note on Monday, September 9th. Eight research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average 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.