Carnegie Capital Asset Management LLC Has $12.30 Million Stock Holdings in Costco Wholesale Co. (NASDAQ:COST)

Carnegie Capital Asset Management LLC decreased its holdings in shares of Costco Wholesale Co. (NASDAQ:COSTGet Rating) by 20.2% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 31,084 shares of the retailer’s stock after selling 7,872 shares during the quarter. Carnegie Capital Asset Management LLC’s holdings in Costco Wholesale were worth $12,300,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of COST. Vanguard Group Inc. boosted its stake in shares of Costco Wholesale by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 38,028,886 shares of the retailer’s stock worth $21,898,934,000 after acquiring an additional 467,631 shares in the last quarter. BlackRock Inc. lifted its position in shares of Costco Wholesale by 0.8% during the 1st quarter. BlackRock Inc. now owns 31,340,294 shares of the retailer’s stock worth $18,047,310,000 after purchasing an additional 261,972 shares during the last quarter. State Street Corp lifted its position in shares of Costco Wholesale by 4.0% during the 1st quarter. State Street Corp now owns 19,039,672 shares of the retailer’s stock worth $10,963,995,000 after purchasing an additional 738,447 shares during the last quarter. Alliancebernstein L.P. lifted its position in shares of Costco Wholesale by 2.7% during the 4th quarter. Alliancebernstein L.P. now owns 5,106,207 shares of the retailer’s stock worth $2,898,794,000 after purchasing an additional 133,943 shares during the last quarter. Finally, Fisher Asset Management LLC lifted its position in shares of Costco Wholesale by 3.7% during the 1st quarter. Fisher Asset Management LLC now owns 4,221,255 shares of the retailer’s stock worth $2,430,810,000 after purchasing an additional 150,655 shares during the last quarter. Hedge funds and other institutional investors own 66.83% of the company’s stock.

Costco Wholesale Trading Down 1.2 %

COST stock opened at $487.17 on Friday. The business has a fifty day moving average price of $529.73 and a 200 day moving average price of $519.85. Costco Wholesale Co. has a fifty-two week low of $406.51 and a fifty-two week high of $612.27. The stock has a market capitalization of $215.80 billion, a price-to-earnings ratio of 38.36, a P/E/G ratio of 3.72 and a beta of 0.70. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.04 and a quick ratio of 0.48.

Costco Wholesale Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 12th. Investors of record on Friday, July 29th were issued a dividend of $0.09 per share. The ex-dividend date was Thursday, July 28th. This represents a $0.36 dividend on an annualized basis and a yield of 0.07%. Costco Wholesale’s dividend payout ratio is 28.35%.

Insider Activity at Costco Wholesale

In related news, CFO Richard A. Galanti sold 1,000 shares of the firm’s stock in a transaction on Thursday, July 14th. The stock was sold at an average price of $505.60, for a total transaction of $505,600.00. Following the completion of the sale, the chief financial officer now directly owns 25,750 shares of the company’s stock, valued at approximately $13,019,200. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, VP James P. Murphy sold 1,500 shares of Costco Wholesale stock in a transaction on Wednesday, July 20th. The stock was sold at an average price of $525.20, for a total value of $787,800.00. Following the completion of the sale, the vice president now directly owns 36,230 shares of the company’s stock, valued at approximately $19,027,996. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Richard A. Galanti sold 1,000 shares of Costco Wholesale stock in a transaction on Thursday, July 14th. The shares were sold at an average price of $505.60, for a total value of $505,600.00. Following the completion of the sale, the chief financial officer now directly owns 25,750 shares of the company’s stock, valued at $13,019,200. The disclosure for this sale can be found here. Insiders sold 2,800 shares of company stock valued at $1,449,904 in the last three months. Corporate insiders own 0.22% of the company’s stock.

Wall Street Analysts Forecast Growth

COST has been the subject of several research analyst reports. Loop Capital cut their price objective on Costco Wholesale from $610.00 to $585.00 in a research report on Thursday, September 1st. Deutsche Bank Aktiengesellschaft boosted their price objective on Costco Wholesale from $579.00 to $581.00 and gave the stock a “buy” rating in a research report on Wednesday. Telsey Advisory Group cut their price objective on Costco Wholesale from $615.00 to $590.00 and set an “outperform” rating for the company in a research report on Friday, May 27th. Raymond James boosted their price objective on Costco Wholesale from $560.00 to $600.00 and gave the stock an “outperform” rating in a research report on Friday, August 5th. Finally, Evercore ISI upped their price target on Costco Wholesale to $585.00 in a report on Tuesday, September 6th. Four research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Costco Wholesale presently has an average rating of “Moderate Buy” and a consensus target price of $575.36.

Costco Wholesale Company Profile

(Get Rating)

Costco Wholesale Corporation, together with its subsidiaries, engages in the operation of membership warehouses in the United States, Puerto Rico, Canada, the United Kingdom, Mexico, Japan, Korea, Australia, Spain, France, Iceland, China, and Taiwan. It offers branded and private-label products in a range of merchandise categories.

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Institutional Ownership by Quarter for Costco Wholesale (NASDAQ:COST)

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