Flagship Harbor Advisors LLC Raises Stake in Costco Wholesale Co. (NASDAQ:COST)

Flagship Harbor Advisors LLC grew its stake in shares of Costco Wholesale Co. (NASDAQ:COSTGet Rating) by 41.9% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,487 shares of the retailer’s stock after purchasing an additional 1,619 shares during the quarter. Flagship Harbor Advisors LLC’s holdings in Costco Wholesale were worth $2,630,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in COST. Contravisory Investment Management Inc. purchased a new stake in Costco Wholesale in the first quarter worth about $26,000. Comprehensive Financial Consultants Institutional Inc. purchased a new stake in Costco Wholesale in the fourth quarter worth about $30,000. Mystic Asset Management Inc. purchased a new stake in Costco Wholesale in the fourth quarter worth about $40,000. Lansing Street Advisors purchased a new stake in Costco Wholesale in the first quarter worth about $41,000. Finally, Cordant Inc. purchased a new stake in Costco Wholesale in the first quarter worth about $47,000. 66.83% of the stock is owned by hedge funds and other institutional investors.

Costco Wholesale Price Performance

Shares of NASDAQ:COST opened at $487.17 on Friday. Costco Wholesale Co. has a twelve month low of $406.51 and a twelve month high of $612.27. The company’s 50 day moving average is $529.73 and its 200 day moving average is $519.85. 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 company 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 firm also recently declared a quarterly dividend, which was paid on Friday, August 12th. Investors 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 yield of 0.07%. Costco Wholesale’s dividend payout ratio (DPR) is presently 28.35%.

Insider Buying and Selling

In related news, CFO Richard A. Galanti sold 1,000 shares of the stock in a transaction that occurred 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 transaction, the chief financial officer now owns 25,750 shares in the company, valued at approximately $13,019,200. The sale was disclosed in a filing with the SEC, which is available through this link. In other Costco Wholesale news, Director Kenneth D. Denman sold 300 shares of the company’s stock in a transaction that occurred on Friday, July 15th. The stock was sold at an average price of $521.68, for a total value of $156,504.00. Following the sale, the director now owns 5,197 shares in the company, valued at approximately $2,711,170.96. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, 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 value of $505,600.00. Following the completion of the sale, the chief financial officer now owns 25,750 shares in the company, valued at approximately $13,019,200. The disclosure for this sale can be found here. In the last quarter, insiders have sold 2,800 shares of company stock worth $1,449,904. 0.22% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of analysts recently weighed in on COST shares. Oppenheimer upped their price objective on shares of Costco Wholesale from $535.00 to $600.00 in a research note on Thursday, August 4th. BMO Capital Markets reaffirmed a “buy” rating and issued a $580.00 price objective on shares of Costco Wholesale in a research note on Monday, May 30th. Jefferies Financial Group reiterated a “buy” rating and issued a $580.00 target price on shares of Costco Wholesale in a report on Friday, July 29th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Costco Wholesale from $579.00 to $581.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Credit Suisse Group reduced their target price on shares of Costco Wholesale from $570.00 to $550.00 and set a “neutral” rating for the company in a report on Friday, May 27th. Four research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company. According to data from MarketBeat, Costco Wholesale has an average rating of “Moderate Buy” and an average 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.

See Also

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

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