Costco Wholesale Co. (NASDAQ:COST) Shares Bought by RB Capital Management LLC

RB Capital Management LLC lifted its position in shares of Costco Wholesale Co. (NASDAQ:COSTGet 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

In other news, CFO Richard A. Galanti sold 1,000 shares of the company’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 transaction, 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 through the SEC website. In related news, VP James P. Murphy sold 1,500 shares of the 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 is available at this link. Also, CFO Richard A. Galanti sold 1,000 shares of the 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 have sold 2,800 shares of company stock valued at $1,449,904 over the last ninety days. 0.22% of the stock is owned by company insiders.

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

(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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