RB Capital Management LLC lifted its position in shares of Costco Wholesale Co. (NASDAQ:COST – Get Rating) by 1.2% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 16,450 shares of the retailer’s stock after buying an additional 193 shares during the quarter. Costco Wholesale comprises 2.9% of RB Capital Management LLC’s holdings, making the stock its 5th biggest position. RB Capital Management LLC’s holdings in Costco Wholesale were worth $7,884,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Contravisory Investment Management Inc. acquired a new position in Costco Wholesale in the first quarter valued at about $26,000. Comprehensive Financial Consultants Institutional Inc. acquired a new position in Costco Wholesale in the fourth quarter valued at about $30,000. Mystic Asset Management Inc. acquired a new position in Costco Wholesale during the fourth quarter worth about $40,000. Lansing Street Advisors acquired a new position in Costco Wholesale during the first quarter worth about $41,000. Finally, Cordant Inc. acquired a new position in Costco Wholesale during the first quarter worth about $47,000. Institutional investors and hedge funds own 66.83% of the company’s stock.
Analysts Set New Price Targets
Several research analysts have commented on COST shares. Deutsche Bank Aktiengesellschaft boosted their target price on Costco Wholesale from $579.00 to $581.00 and gave the stock a “buy” rating in a research note on Wednesday. Citigroup boosted their target price on Costco Wholesale from $510.00 to $545.00 in a research note on Thursday, August 4th. Raymond James boosted their price target on Costco Wholesale from $560.00 to $600.00 and gave the stock an “outperform” rating in a report on Friday, August 5th. Credit Suisse Group reduced their price target on Costco Wholesale from $570.00 to $550.00 and set a “neutral” rating on the stock in a report on Friday, May 27th. Finally, Loop Capital reduced their price target on Costco Wholesale from $610.00 to $585.00 in a report on Thursday, September 1st. Four research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $575.36.
Insider Transactions at Costco Wholesale
Costco Wholesale Price Performance
Shares of COST opened at $487.17 on Friday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.48 and a current ratio of 1.04. Costco Wholesale Co. has a 52-week low of $406.51 and a 52-week high of $612.27. The business’s 50 day moving average price is $529.73 and its two-hundred day moving average price is $519.85. The firm has a market cap of $215.80 billion, a PE 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 given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.07%. The ex-dividend date was Thursday, July 28th. Costco Wholesale’s payout ratio is 28.35%.
About Costco Wholesale
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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