Costco Wholesale Co. (NASDAQ:COST) Position Decreased by Mattern Capital Management LLC

Mattern Capital Management LLC trimmed its stake in Costco Wholesale Co. (NASDAQ:COST) by 1.5% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,934 shares of the retailer’s stock after selling 235 shares during the period. Costco Wholesale accounts for approximately 1.9% of Mattern Capital Management LLC’s holdings, making the stock its 3rd largest position. Mattern Capital Management LLC’s holdings in Costco Wholesale were worth $13,544,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Frank Rimerman Advisors LLC purchased a new stake in shares of Costco Wholesale in the fourth quarter worth $26,000. Redmont Wealth Advisors LLC purchased a new stake in Costco Wholesale in the 1st quarter worth $32,000. Vima LLC purchased a new stake in Costco Wholesale in the 4th quarter worth $34,000. DSM Capital Partners LLC bought a new position in shares of Costco Wholesale in the fourth quarter worth about $36,000. Finally, Financial Connections Group Inc. grew its position in shares of Costco Wholesale by 557.1% during the second quarter. Financial Connections Group Inc. now owns 46 shares of the retailer’s stock worth $39,000 after purchasing an additional 39 shares in the last quarter. 68.48% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on COST. Bank of America boosted their price target on Costco Wholesale from $874.00 to $962.00 and gave the stock a “buy” rating in a report on Thursday, July 11th. Truist Financial upped their target price on shares of Costco Wholesale from $815.00 to $873.00 and gave the stock a “buy” rating in a research report on Friday, May 31st. Telsey Advisory Group reiterated an “outperform” rating and issued a $925.00 price target on shares of Costco Wholesale in a report on Tuesday, August 27th. TD Cowen increased their price objective on shares of Costco Wholesale from $850.00 to $925.00 and gave the company a “buy” rating in a report on Friday, July 12th. Finally, Evercore ISI reduced their target price on Costco Wholesale from $920.00 to $915.00 and set an “outperform” rating on the stock in a report on Wednesday, August 7th. Eight equities research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. Based on data from MarketBeat, Costco Wholesale presently has a consensus rating of “Moderate Buy” and an average price target of $824.50.

Costco Wholesale Stock Up 1.3 %

Shares of NASDAQ COST opened at $890.02 on Thursday. Costco Wholesale Co. has a 52-week low of $540.18 and a 52-week high of $918.93. The firm has a market capitalization of $394.57 billion, a price-to-earnings ratio of 55.14, a PEG ratio of 5.98 and a beta of 0.80. The stock has a 50 day moving average price of $856.21 and a 200 day moving average price of $798.00. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.45 and a current ratio of 0.94.

Costco Wholesale Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 9th. Stockholders of record on Friday, July 26th were issued a $1.16 dividend. The ex-dividend date of this dividend was Friday, July 26th. This represents a $4.64 annualized dividend and a dividend yield of 0.52%. Costco Wholesale’s dividend payout ratio is currently 28.75%.

Insider Transactions at Costco Wholesale

In related news, insider Daniel M. Hines sold 1,500 shares of the business’s stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $844.20, for a total value of $1,266,300.00. Following the completion of the transaction, the insider now owns 12,492 shares of the company’s stock, valued at $10,545,746.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Costco Wholesale news, insider Daniel M. Hines sold 1,500 shares of Costco Wholesale stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $844.20, for a total value of $1,266,300.00. Following the transaction, the insider now owns 12,492 shares in the company, valued at $10,545,746.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kenneth D. Denman sold 350 shares of the stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $851.53, for a total transaction of $298,035.50. Following the sale, the director now directly owns 5,920 shares of the company’s stock, valued at $5,041,057.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 4,974 shares of company stock valued at $4,252,856. Company insiders own 0.18% of the company’s stock.

About Costco Wholesale

Costco Wholesale Corporation, together with its subsidiaries, engages in the operation of membership warehouses in the United States, Puerto Rico, Canada, Mexico, Japan, the United Kingdom, Korea, Australia, Taiwan, China, Spain, France, Iceland, New Zealand, and Sweden. The company offers branded and private-label products in a range of merchandise categories.