Massmutual Trust Co. FSB ADV raised its stake in shares of Costco Wholesale Co. (NASDAQ:COST) by 15.0% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,765 shares of the retailer’s stock after buying an additional 622 shares during the quarter. Massmutual Trust Co. FSB ADV’s holdings in Costco Wholesale were worth $996,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of the business. MUFG Securities EMEA plc purchased a new position in shares of Costco Wholesale during the second quarter worth about $103,000. Well Done LLC purchased a new position in shares of Costco Wholesale during the first quarter worth about $109,000. Trilogy Capital Inc. purchased a new position in shares of Costco Wholesale during the first quarter worth about $116,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors purchased a new position in shares of Costco Wholesale during the second quarter worth about $119,000. Finally, Zions Bancorporation purchased a new position in shares of Costco Wholesale during the second quarter worth about $160,000. 71.49% of the stock is owned by institutional investors and hedge funds.
COST stock traded up $5.13 during midday trading on Friday, hitting $226.95. The company had a trading volume of 2,939,146 shares, compared to its average volume of 2,232,079. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.47 and a current ratio of 1.01. Costco Wholesale Co. has a 52 week low of $157.00 and a 52 week high of $245.16. The company has a market capitalization of $103.00 billion, a P/E ratio of 38.99, a PEG ratio of 2.78 and a beta of 0.95.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 14th. Shareholders of record on Friday, August 31st were given a $0.57 dividend. The ex-dividend date of this dividend was Thursday, August 30th. This represents a $2.28 annualized dividend and a yield of 1.00%. Costco Wholesale’s payout ratio is currently 39.18%.
COST has been the subject of a number of recent research reports. Loop Capital boosted their target price on Costco Wholesale to $230.00 and gave the stock a “buy” rating in a research report on Wednesday, June 20th. Zacks Investment Research downgraded Costco Wholesale from a “buy” rating to a “hold” rating in a research report on Thursday, October 4th. Argus restated a “buy” rating and issued a $255.00 target price on shares of Costco Wholesale in a research report on Thursday. Bank of America set a $255.00 target price on Costco Wholesale and gave the stock a “buy” rating in a research report on Thursday, October 4th. Finally, BidaskClub downgraded Costco Wholesale from a “strong-buy” rating to a “buy” rating in a research report on Thursday, July 19th. Nine research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $237.94.
In related news, Director John W. Meisenbach sold 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 1st. The stock was sold at an average price of $218.65, for a total transaction of $655,950.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP James P. Murphy sold 15,000 shares of the company’s stock in a transaction that occurred on Monday, July 23rd. The shares were sold at an average price of $219.22, for a total value of $3,288,300.00. Following the transaction, the vice president now owns 33,834 shares of the company’s stock, valued at approximately $7,417,089.48. The disclosure for this sale can be found here. Insiders sold 24,000 shares of company stock valued at $5,351,100 in the last quarter. Corporate insiders own 0.58% of the company’s stock.
About Costco Wholesale
Costco Wholesale Corporation, together with its subsidiaries, operates membership warehouses. It offers branded and private-label products in a range of merchandise categories. The company provides dry and packaged foods, and groceries; snack foods, candies, alcoholic and nonalcoholic beverages, and cleaning supplies; appliances, electronics, health and beauty aids, hardware, and garden and patio products; meat, bakery, deli, and produces; and apparel and small appliances.
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