Federated Investors Inc. PA reduced its stake in shares of Costco Wholesale Co. (NASDAQ:COST) by 21.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,471 shares of the retailer’s stock after selling 1,734 shares during the period. Federated Investors Inc. PA’s holdings in Costco Wholesale were worth $1,352,000 as of its most recent SEC filing.
Other hedge funds also recently made changes to their positions in the company. Cypress Capital Management LLC WY raised its stake in shares of Costco Wholesale by 8.0% during the second quarter. Cypress Capital Management LLC WY now owns 3,055 shares of the retailer’s stock valued at $638,000 after purchasing an additional 225 shares during the period. McIlrath & Eck LLC grew its position in shares of Costco Wholesale by 16.8% during the second quarter. McIlrath & Eck LLC now owns 1,585 shares of the retailer’s stock worth $331,000 after buying an additional 228 shares in the last quarter. Moloney Securities Asset Management LLC grew its position in shares of Costco Wholesale by 11.5% during the second quarter. Moloney Securities Asset Management LLC now owns 2,327 shares of the retailer’s stock worth $486,000 after buying an additional 240 shares in the last quarter. Rational Advisors LLC grew its position in shares of Costco Wholesale by 6.7% during the second quarter. Rational Advisors LLC now owns 3,862 shares of the retailer’s stock worth $807,000 after buying an additional 242 shares in the last quarter. Finally, BKD Wealth Advisors LLC grew its position in shares of Costco Wholesale by 20.8% during the second quarter. BKD Wealth Advisors LLC now owns 1,435 shares of the retailer’s stock worth $300,000 after buying an additional 247 shares in the last quarter. Institutional investors and hedge funds own 71.49% of the company’s stock.
Shares of NASDAQ COST traded up $5.13 during midday trading on Friday, reaching $226.95. 2,939,146 shares of the company traded hands, compared to its average volume of 2,232,079. Costco Wholesale Co. has a 52 week low of $157.00 and a 52 week high of $245.16. The company has a quick ratio of 0.47, a current ratio of 1.01 and a debt-to-equity ratio of 0.52. The stock has a market cap of $103.00 billion, a P/E ratio of 38.99, a P/E/G ratio of 2.78 and a beta of 0.95.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 14th. Shareholders of record on Friday, August 31st were given a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 1.00%. The ex-dividend date of this dividend was Thursday, August 30th. Costco Wholesale’s dividend payout ratio (DPR) is presently 39.18%.
In other Costco Wholesale news, Director John W. Meisenbach sold 3,000 shares of the business’s stock in a transaction dated Wednesday, August 1st. The shares were sold at an average price of $218.65, for a total value of $655,950.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP James P. Murphy sold 15,000 shares of the business’s stock in a transaction dated Monday, July 23rd. The stock was sold at an average price of $219.22, for a total transaction of $3,288,300.00. Following the completion of the sale, the vice president now owns 33,834 shares in the company, valued at $7,417,089.48. The disclosure for this sale can be found here. Over the last quarter, insiders sold 24,000 shares of company stock worth $5,351,100. 0.58% of the stock is owned by company insiders.
A number of analysts have recently weighed in on the stock. Northcoast Research raised shares of Costco Wholesale from a “neutral” rating to a “buy” rating in a research report on Friday. Argus reaffirmed a “buy” rating and issued a $255.00 price objective on shares of Costco Wholesale in a report on Thursday. Loop Capital set a $265.00 price objective on shares of Costco Wholesale and gave the stock a “buy” rating in a report on Wednesday. Royal Bank of Canada decreased their price objective on shares of Costco Wholesale from $255.00 to $253.00 and set an “outperform” rating for the company in a report on Friday, October 5th. Finally, Bank of America set a $255.00 price objective on shares of Costco Wholesale and gave the stock a “buy” rating in a report on Thursday, October 4th. Nine research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $237.94.
Costco Wholesale Profile
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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