Seven Eight Capital LP Sells 6,355 Shares of Costco Wholesale Co. (NASDAQ:COST)

Seven Eight Capital LP cut its stake in shares of Costco Wholesale Co. (NASDAQ:COST) by 87.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 880 shares of the retailer’s stock after selling 6,355 shares during the quarter. Seven Eight Capital LP’s holdings in Costco Wholesale were worth $748,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Frank Rimerman Advisors LLC purchased a new position in Costco Wholesale in the fourth quarter worth $26,000. Redmont Wealth Advisors LLC bought a new stake in Costco Wholesale during the first quarter worth about $32,000. Vima LLC purchased a new position in shares of Costco Wholesale in the 4th quarter worth about $34,000. DSM Capital Partners LLC bought a new position in shares of Costco Wholesale during the 4th quarter valued at about $36,000. Finally, Financial Connections Group Inc. raised its holdings in shares of Costco Wholesale by 557.1% during the 2nd quarter. Financial Connections Group Inc. now owns 46 shares of the retailer’s stock valued at $39,000 after buying an additional 39 shares in the last quarter. Hedge funds and other institutional investors own 68.48% of the company’s stock.

Insider Transactions at Costco Wholesale

In related news, insider Daniel M. Hines sold 1,500 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the insider now 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 can be accessed through this link. In other news, insider Daniel M. Hines sold 1,500 shares of the stock in a transaction on 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 of the company’s stock, valued at $10,545,746.40. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, 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 completion of the transaction, the director now directly owns 11,775 shares of the company’s stock, valued at approximately $10,320,787.50. The disclosure for this sale can be found here. Insiders have sold a total of 4,974 shares of company stock valued at $4,252,856 in the last ninety days. 0.18% of the stock is currently owned by corporate insiders.

Costco Wholesale Trading Up 0.7 %

NASDAQ COST opened at $906.98 on Friday. The stock’s 50 day moving average is $864.85 and its 200 day moving average is $811.25. 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 firm has a market capitalization of $402.10 billion, a PE ratio of 56.19, a P/E/G ratio of 5.51 and a beta of 0.80. Costco Wholesale Co. has a twelve month low of $540.23 and a twelve month high of $923.83.

Costco Wholesale Dividend Announcement

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

Wall Street Analyst Weigh In

A number of research analysts have commented on COST shares. Robert W. Baird increased their price target on shares of Costco Wholesale from $850.00 to $975.00 and gave the company an “outperform” rating in a research report on Thursday, July 11th. Redburn Atlantic cut shares of Costco Wholesale from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $860.00 to $890.00 in a research report on Tuesday, September 10th. Telsey Advisory Group restated an “outperform” rating and set a $925.00 price target on shares of Costco Wholesale in a research report on Friday, September 6th. Tigress Financial raised their price objective on Costco Wholesale from $870.00 to $975.00 and gave the company a “buy” rating in a research note on Tuesday, June 25th. Finally, Citigroup boosted their target price on Costco Wholesale from $710.00 to $800.00 and gave the company a “neutral” rating in a research note on Friday, May 31st. Eight analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target 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.