Lombard Odier Asset Management Europe Ltd Takes $6.96 Million Position in Costco Wholesale Co. (NASDAQ:COST)

Lombard Odier Asset Management Europe Ltd bought a new stake in Costco Wholesale Co. (NASDAQ:COST) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 8,188 shares of the retailer’s stock, valued at approximately $6,960,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in COST. Evergreen Capital Management LLC lifted its holdings in Costco Wholesale by 7.3% during the second quarter. Evergreen Capital Management LLC now owns 22,453 shares of the retailer’s stock worth $19,085,000 after acquiring an additional 1,527 shares in the last quarter. Public Sector Pension Investment Board lifted its holdings in shares of Costco Wholesale by 17.9% during the 2nd quarter. Public Sector Pension Investment Board now owns 47,013 shares of the retailer’s stock valued at $39,961,000 after purchasing an additional 7,131 shares in the last quarter. Steel Grove Capital Advisors LLC grew its position in shares of Costco Wholesale by 9.3% in the 2nd quarter. Steel Grove Capital Advisors LLC now owns 1,022 shares of the retailer’s stock valued at $869,000 after purchasing an additional 87 shares during the period. Nippon Life Global Investors Americas Inc. increased its stake in Costco Wholesale by 16.6% during the 2nd quarter. Nippon Life Global Investors Americas Inc. now owns 73,930 shares of the retailer’s stock worth $62,840,000 after purchasing an additional 10,550 shares in the last quarter. Finally, Certified Advisory Corp raised its holdings in Costco Wholesale by 8.8% during the 2nd quarter. Certified Advisory Corp now owns 6,832 shares of the retailer’s stock worth $5,807,000 after buying an additional 555 shares during the period. 68.48% of the stock is owned by institutional investors.

Insider Activity at Costco Wholesale

In other news, EVP Richard A. Galanti sold 500 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $874.05, for a total transaction of $437,025.00. Following the completion of the sale, the executive vice president now owns 22,900 shares in the company, valued at approximately $20,015,745. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, EVP Richard A. Galanti sold 500 shares of the business’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $874.05, for a total value of $437,025.00. Following the sale, the executive vice president now directly owns 22,900 shares in the company, valued at approximately $20,015,745. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kenneth D. Denman sold 350 shares of the company’s stock in a transaction that occurred 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 owns 5,920 shares in the company, valued at $5,041,057.60. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 4,974 shares of company stock worth $4,252,856. 0.18% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on COST. Oppenheimer upped their price target on shares of Costco Wholesale from $925.00 to $955.00 and gave the company an “outperform” rating in a report on Friday, September 6th. TD Cowen increased their target price on Costco Wholesale from $850.00 to $925.00 and gave the stock a “buy” rating in a report on Friday, July 12th. Gordon Haskett raised Costco Wholesale from an “accumulate” rating to a “buy” rating and set a $925.00 price objective for the company in a research report on Thursday, August 8th. Robert W. Baird lifted their target price on Costco Wholesale from $850.00 to $975.00 and gave the company an “outperform” rating in a research report on Thursday, July 11th. Finally, Evercore ISI raised their price target on shares of Costco Wholesale from $915.00 to $925.00 and gave the stock an “outperform” rating in a research note on Friday, September 6th. Seven equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $853.92.

Costco Wholesale Stock Performance

Costco Wholesale stock opened at $906.98 on Monday. The business has a 50 day moving average of $864.85 and a 200-day moving average of $811.52. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.94 and a quick ratio of 0.45. Costco Wholesale Co. has a 1 year low of $540.23 and a 1 year high of $923.83. The company has a market capitalization of $402.10 billion, a P/E ratio of 56.19, a P/E/G ratio of 5.51 and a beta of 0.80.

Costco Wholesale Dividend Announcement

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

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.