1832 Asset Management L.P. Grows Holdings in Costco Wholesale Co. (NASDAQ:COST)

1832 Asset Management L.P. increased its position in shares of Costco Wholesale Co. (NASDAQ:COST) by 56.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 566,864 shares of the retailer’s stock after buying an additional 205,237 shares during the period. Costco Wholesale comprises approximately 0.4% of 1832 Asset Management L.P.’s holdings, making the stock its 27th biggest holding. 1832 Asset Management L.P. owned about 0.13% of Costco Wholesale worth $481,829,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Greenline Partners LLC increased its stake in Costco Wholesale by 6.0% during the 2nd quarter. Greenline Partners LLC now owns 3,402 shares of the retailer’s stock worth $2,877,000 after buying an additional 192 shares during the period. Mount Yale Investment Advisors LLC increased its position in shares of Costco Wholesale by 3.8% in the 2nd quarter. Mount Yale Investment Advisors LLC now owns 1,109 shares of the retailer’s stock worth $943,000 after purchasing an additional 41 shares during the last quarter. Frank Rimerman Advisors LLC increased its position in shares of Costco Wholesale by 23,837.5% in the 2nd quarter. Frank Rimerman Advisors LLC now owns 9,575 shares of the retailer’s stock worth $8,139,000 after purchasing an additional 9,535 shares during the last quarter. Holderness Investments Co. increased its position in shares of Costco Wholesale by 1.6% in the 2nd quarter. Holderness Investments Co. now owns 6,484 shares of the retailer’s stock worth $5,511,000 after purchasing an additional 102 shares during the last quarter. Finally, Kowal Investment Group LLC increased its position in shares of Costco Wholesale by 9.5% in the 2nd quarter. Kowal Investment Group LLC now owns 1,045 shares of the retailer’s stock worth $888,000 after purchasing an additional 91 shares during the last quarter. Hedge funds and other institutional investors own 68.48% of the company’s stock.

Costco Wholesale Trading Up 0.7 %

Costco Wholesale stock opened at $906.98 on Friday. The firm has a 50-day moving average price of $864.85 and a two-hundred day moving average price of $811.25. The firm has a market capitalization of $402.10 billion, a price-to-earnings ratio of 56.19, a PEG ratio of 5.51 and a beta of 0.80. Costco Wholesale Co. has a 52-week low of $540.23 and a 52-week high of $923.83. The company has a quick ratio of 0.45, a current ratio of 0.94 and a debt-to-equity ratio of 0.27.

Costco Wholesale Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 9th. Stockholders of record on Friday, July 26th were paid a $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a dividend yield of 0.51%. The ex-dividend date of this dividend was Friday, July 26th. Costco Wholesale’s dividend payout ratio is currently 28.75%.

Insider Transactions at Costco Wholesale

In other news, insider Daniel M. Hines sold 1,500 shares of the company’s stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $844.20, for a total value of $1,266,300.00. Following the completion of the sale, the insider now directly owns 12,492 shares of the company’s stock, valued at approximately $10,545,746.40. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, Director Susan L. Decker sold 620 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $876.50, for a total value of $543,430.00. Following the sale, the director now directly owns 11,775 shares in the company, valued at approximately $10,320,787.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Daniel M. Hines sold 1,500 shares of the business’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 sale, the insider now owns 12,492 shares in the company, valued at $10,545,746.40. The disclosure for this sale can be found here. In the last three months, insiders sold 4,974 shares of company stock valued at $4,252,856. Company insiders own 0.18% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on COST. Oppenheimer boosted their target price on shares of Costco Wholesale from $925.00 to $955.00 and gave the stock an “outperform” rating in a research report on Friday, September 6th. Evercore ISI boosted their target price on shares of Costco Wholesale from $915.00 to $925.00 and gave the stock an “outperform” rating in a research report on Friday, September 6th. Gordon Haskett raised shares of Costco Wholesale from an “accumulate” rating to a “buy” rating and set a $925.00 target price for the company in a research report on Thursday, August 8th. Barclays boosted their target price on shares of Costco Wholesale from $765.00 to $830.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 11th. Finally, Truist Financial boosted their target price on shares of Costco Wholesale from $815.00 to $873.00 and gave the stock a “buy” rating in a research report on Friday, May 31st. Eight equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $844.52.

About Costco Wholesale

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.