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

Gateway Investment Advisers LLC increased its holdings in Costco Wholesale Co. (NASDAQ:COSTGet Rating) by 8.5% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 152,888 shares of the retailer’s stock after buying an additional 11,990 shares during the period. Costco Wholesale comprises approximately 0.8% of Gateway Investment Advisers LLC’s investment portfolio, making the stock its 26th biggest holding. Gateway Investment Advisers LLC’s holdings in Costco Wholesale were worth $73,276,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. Ford Financial Group LLC lifted its position in Costco Wholesale by 2.4% during the first quarter. Ford Financial Group LLC now owns 821 shares of the retailer’s stock valued at $472,000 after purchasing an additional 19 shares during the period. Fermata Advisors LLC lifted its holdings in shares of Costco Wholesale by 5.1% in the 1st quarter. Fermata Advisors LLC now owns 394 shares of the retailer’s stock valued at $227,000 after buying an additional 19 shares during the period. Strategic Investment Advisors MI boosted its stake in shares of Costco Wholesale by 1.9% in the first quarter. Strategic Investment Advisors MI now owns 1,026 shares of the retailer’s stock worth $591,000 after buying an additional 19 shares during the last quarter. Gill Capital Partners LLC grew its holdings in Costco Wholesale by 2.2% during the fourth quarter. Gill Capital Partners LLC now owns 909 shares of the retailer’s stock worth $516,000 after acquiring an additional 20 shares during the period. Finally, Retirement Solution Inc. raised its position in Costco Wholesale by 1.1% during the fourth quarter. Retirement Solution Inc. now owns 1,919 shares of the retailer’s stock valued at $1,089,000 after acquiring an additional 20 shares in the last quarter. Hedge funds and other institutional investors own 66.83% of the company’s stock.

Insiders Place Their Bets

In other Costco Wholesale news, CFO Richard A. Galanti sold 1,000 shares of the stock in a transaction dated Thursday, July 14th. The shares were 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 owns 25,750 shares of the company’s stock, valued at $13,019,200. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, CFO Richard A. Galanti sold 1,000 shares of the 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 transaction, the chief financial officer now owns 25,750 shares of the company’s stock, valued at approximately $13,019,200. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP James P. Murphy sold 1,500 shares of Costco Wholesale stock in a transaction dated Wednesday, July 20th. The shares were sold at an average price of $525.20, for a total value of $787,800.00. Following the completion of the transaction, the vice president now directly owns 36,230 shares of the company’s stock, valued at $19,027,996. 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. Company insiders own 0.22% of the company’s stock.

Costco Wholesale Stock Performance

NASDAQ COST opened at $487.17 on Friday. Costco Wholesale Co. has a fifty-two week low of $406.51 and a fifty-two week high of $612.27. The firm has a market capitalization of $215.80 billion, a P/E ratio of 38.36, a price-to-earnings-growth ratio of 3.72 and a beta of 0.70. The stock’s fifty day moving average is $529.73 and its two-hundred day moving average is $519.85. 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 Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 12th. Investors of record on Friday, July 29th were given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 0.07%. The ex-dividend date of this dividend was Thursday, July 28th. Costco Wholesale’s payout ratio is currently 28.35%.

Analyst Ratings Changes

COST has been the topic of a number of analyst reports. The Goldman Sachs Group raised their price objective on shares of Costco Wholesale from $516.00 to $573.00 and gave the stock a “buy” rating in a research note on Thursday, August 4th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Costco Wholesale from $579.00 to $581.00 and gave the stock a “buy” rating in a research report on Wednesday. BMO Capital Markets restated a “buy” rating and set a $580.00 target price on shares of Costco Wholesale in a research report on Monday, May 30th. Telsey Advisory Group reduced their price target on Costco Wholesale from $615.00 to $590.00 and set an “outperform” rating for the company in a report on Friday, May 27th. Finally, Loop Capital cut their price objective on Costco Wholesale from $610.00 to $585.00 in a research report on Thursday, September 1st. 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 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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