Pacer Advisors Inc. Boosts Stake in Costco Wholesale Co. (NASDAQ:COST)

Pacer Advisors Inc. boosted its holdings in shares of Costco Wholesale Co. (NASDAQ:COST) by 7.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 68,324 shares of the retailer’s stock after acquiring an additional 4,577 shares during the period. Pacer Advisors Inc.’s holdings in Costco Wholesale were worth $58,075,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Frank Rimerman Advisors LLC acquired a new stake in shares of Costco Wholesale in the fourth quarter valued at approximately $26,000. Redmont Wealth Advisors LLC acquired a new stake in shares of Costco Wholesale in the 1st quarter worth $32,000. Vima LLC acquired a new stake in shares of Costco Wholesale in the 4th quarter worth $34,000. DSM Capital Partners LLC purchased a new position in shares of Costco Wholesale during the 4th quarter worth $36,000. Finally, Financial Connections Group Inc. boosted its position 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 acquiring an additional 39 shares during the last quarter. Institutional investors and hedge funds own 68.48% of the company’s stock.

Costco Wholesale Trading Up 0.7 %

COST opened at $906.98 on Friday. The business’s 50-day simple moving average is $864.85 and its 200-day simple moving average is $811.25. The company has a market cap of $402.10 billion, a P/E ratio of 56.19, a PEG ratio of 5.51 and a beta of 0.80. Costco Wholesale Co. has a one year low of $540.23 and a one year high of $923.83. 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 Announces Dividend

The business also recently disclosed 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 yield of 0.51%. Costco Wholesale’s payout ratio is currently 28.75%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on COST shares. Robert W. Baird lifted their target price on shares of Costco Wholesale from $850.00 to $975.00 and gave the stock an “outperform” rating in a research note on Thursday, July 11th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Costco Wholesale from $925.00 to $927.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. Barclays increased their price objective on Costco Wholesale from $765.00 to $830.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 11th. Evercore ISI upped their price target on Costco Wholesale from $915.00 to $925.00 and gave the company an “outperform” rating in a research note on Friday, September 6th. Finally, Stifel Nicolaus increased their target price on shares of Costco Wholesale from $910.00 to $915.00 and gave the stock a “buy” rating in a research note on Friday, September 6th. Eight research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $844.52.

Insider Transactions at Costco Wholesale

In related news, Director Kenneth D. Denman sold 350 shares of Costco Wholesale stock in a transaction on Monday, July 15th. The shares were sold at an average price of $851.53, for a total transaction of $298,035.50. Following the sale, the director now directly owns 5,920 shares in the company, valued at approximately $5,041,057.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Kenneth D. Denman sold 350 shares of the firm’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $851.53, for a total transaction of $298,035.50. Following the transaction, the director now owns 5,920 shares in the company, valued at approximately $5,041,057.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Richard A. Galanti sold 500 shares of Costco Wholesale stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $863.88, for a total value of $431,940.00. Following the transaction, the executive vice president now directly owns 23,800 shares in the company, valued at approximately $20,560,344. The disclosure for this sale can be found here. In the last quarter, insiders sold 4,974 shares of company stock worth $4,252,856. 0.18% of the stock is currently owned by insiders.

Costco Wholesale Company 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.