Corsicana & Co. Reduces Stake in Costco Wholesale Co. (NASDAQ:COST)

Corsicana & Co. lowered its holdings in Costco Wholesale Co. (NASDAQ:COSTGet Rating) by 7.3% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 4,260 shares of the retailer’s stock after selling 335 shares during the period. Costco Wholesale accounts for approximately 1.6% of Corsicana & Co.’s investment portfolio, making the stock its 16th biggest holding. Corsicana & Co.’s holdings in Costco Wholesale were worth $2,042,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Contravisory Investment Management Inc. bought a new position in shares of Costco Wholesale in the 1st quarter worth approximately $26,000. Comprehensive Financial Consultants Institutional Inc. bought a new position in shares of Costco Wholesale in the 4th quarter worth approximately $30,000. Lansing Street Advisors bought a new position in shares of Costco Wholesale in the 1st quarter worth approximately $41,000. Mystic Asset Management Inc. bought a new position in shares of Costco Wholesale in the 4th quarter worth approximately $40,000. Finally, Cordant Inc. bought a new position in shares of Costco Wholesale in the 1st quarter worth approximately $47,000. Hedge funds and other institutional investors own 66.83% of the company’s stock.

Costco Wholesale Trading Down 1.2 %

Shares of COST stock opened at $487.17 on Friday. Costco Wholesale Co. has a 12-month low of $406.51 and a 12-month high of $612.27. The company has a current ratio of 1.04, a quick ratio of 0.48 and a debt-to-equity ratio of 0.32. The stock’s 50-day moving average price is $529.73 and its 200-day moving average price is $519.85. The stock has a market capitalization of $215.80 billion, a price-to-earnings ratio of 38.36, a price-to-earnings-growth ratio of 3.72 and a beta of 0.70.

Costco Wholesale Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 12th. Stockholders of record on Friday, July 29th were issued a $0.09 dividend. The ex-dividend date was Thursday, July 28th. This represents a $0.36 annualized dividend and a dividend yield of 0.07%. Costco Wholesale’s dividend payout ratio (DPR) is 28.35%.

Insider Transactions at Costco Wholesale

In other news, CFO Richard A. Galanti sold 1,000 shares of Costco Wholesale stock in a transaction dated Thursday, July 14th. The stock was sold at an average price of $505.60, for a total value of $505,600.00. Following the sale, the chief financial officer now directly owns 25,750 shares of the company’s stock, valued at $13,019,200. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Costco Wholesale news, CFO Richard A. Galanti sold 1,000 shares of the business’s stock in a transaction that occurred 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 sale, the chief financial officer now directly owns 25,750 shares of the company’s stock, valued at $13,019,200. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP James P. Murphy sold 1,500 shares of the business’s stock in a transaction that occurred 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 sale, the vice president now directly owns 36,230 shares in the company, valued at $19,027,996. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,800 shares of company stock valued at $1,449,904. 0.22% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on COST. Robert W. Baird reissued an “outperform” rating and issued a $575.00 target price on shares of Costco Wholesale in a research report on Friday, September 2nd. StockNews.com raised Costco Wholesale from a “hold” rating to a “buy” rating in a research report on Friday, July 15th. Raymond James raised their price objective on Costco Wholesale from $560.00 to $600.00 and gave the company an “outperform” rating in a research report on Friday, August 5th. Evercore ISI raised their price objective on Costco Wholesale to $585.00 in a research report on Tuesday, September 6th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a $580.00 price objective on shares of Costco Wholesale in a research report on Friday, July 29th. Four analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $575.36.

Costco Wholesale 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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