Gateway Investment Advisers LLC Acquires 11,990 Shares of Costco Wholesale Co. (NASDAQ:COST)

Gateway Investment Advisers LLC raised its stake in shares of Costco Wholesale Co. (NASDAQ:COSTGet Rating) by 8.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 152,888 shares of the retailer’s stock after acquiring an additional 11,990 shares during the quarter. Costco Wholesale makes up about 0.8% of Gateway Investment Advisers LLC’s portfolio, making the stock its 26th biggest position. Gateway Investment Advisers LLC’s holdings in Costco Wholesale were worth $73,276,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Allied Investment Advisors LLC increased its stake in Costco Wholesale by 8.2% during the 2nd quarter. Allied Investment Advisors LLC now owns 525 shares of the retailer’s stock valued at $252,000 after purchasing an additional 40 shares in the last quarter. Lee Johnson Capital Management LLC raised its holdings in shares of Costco Wholesale by 6.7% during the second quarter. Lee Johnson Capital Management LLC now owns 3,774 shares of the retailer’s stock worth $1,809,000 after purchasing an additional 237 shares during the last quarter. Guardian Financial Partners LLC lifted its position in Costco Wholesale by 12.5% during the second quarter. Guardian Financial Partners LLC now owns 1,128 shares of the retailer’s stock valued at $541,000 after purchasing an additional 125 shares during the period. Traverso Chambers Private Wealth Management LLC boosted its holdings in Costco Wholesale by 13.6% in the second quarter. Traverso Chambers Private Wealth Management LLC now owns 1,254 shares of the retailer’s stock valued at $601,000 after purchasing an additional 150 shares during the last quarter. Finally, Stokes Capital Advisors LLC grew its position in Costco Wholesale by 5.8% during the 2nd quarter. Stokes Capital Advisors LLC now owns 12,069 shares of the retailer’s stock worth $5,785,000 after purchasing an additional 658 shares during the period. Hedge funds and other institutional investors own 66.83% of the company’s stock.

Insider Transactions at Costco Wholesale

In related news, VP James P. Murphy sold 1,500 shares of the firm’s stock in a transaction dated Wednesday, July 20th. The shares were sold at an average price of $525.20, for a total transaction of $787,800.00. Following the completion of the sale, the vice president now directly owns 36,230 shares in the company, valued at $19,027,996. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CFO Richard A. Galanti sold 1,000 shares of the firm’s stock in a transaction dated 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 transaction, the chief financial officer now directly owns 25,750 shares in the company, valued at approximately $13,019,200. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP James P. Murphy sold 1,500 shares of the business’s stock in a transaction dated Wednesday, July 20th. The stock was sold at an average price of $525.20, for a total transaction of $787,800.00. Following the sale, the vice president now owns 36,230 shares in the company, valued at $19,027,996. The disclosure for this sale can be found here. Insiders have sold a total of 2,800 shares of company stock worth $1,449,904 in the last quarter. Company insiders own 0.22% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on COST. Citigroup upped their target price on Costco Wholesale from $510.00 to $545.00 in a research note on Thursday, August 4th. Truist Financial lifted their target price on shares of Costco Wholesale from $543.00 to $571.00 in a report on Thursday, August 4th. Raymond James raised their price target on shares of Costco Wholesale from $560.00 to $600.00 and gave the company an “outperform” rating in a research report on Friday, August 5th. StockNews.com upgraded shares of Costco Wholesale from a “hold” rating to a “buy” rating in a research report on Friday, July 15th. Finally, Robert W. Baird restated an “outperform” rating and issued a $575.00 price target on shares of Costco Wholesale in a research note on Friday, September 2nd. Four investment analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $575.36.

Costco Wholesale Price Performance

COST stock opened at $487.17 on Friday. Costco Wholesale Co. has a 1 year low of $406.51 and a 1 year high of $612.27. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.04 and a quick ratio of 0.48. The firm has a market capitalization 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. The business has a 50 day simple moving average of $529.73 and a 200-day simple moving average of $519.85.

Costco Wholesale Cuts Dividend

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

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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