First Business Financial Services Inc. Increases Stock Position in Costco Wholesale Co. (NASDAQ:COST)

First Business Financial Services Inc. lifted its holdings in Costco Wholesale Co. (NASDAQ:COST) by 12.0% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 3,610 shares of the retailer’s stock after purchasing an additional 388 shares during the period. Costco Wholesale comprises 0.3% of First Business Financial Services Inc.’s holdings, making the stock its 23rd biggest position. First Business Financial Services Inc.’s holdings in Costco Wholesale were worth $3,068,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Norges Bank purchased a new stake in Costco Wholesale during the fourth quarter worth $3,628,694,000. Global Assets Advisory LLC purchased a new position in Costco Wholesale during the first quarter valued at $510,353,000. Assenagon Asset Management S.A. lifted its holdings in Costco Wholesale by 287.3% during the second quarter. Assenagon Asset Management S.A. now owns 836,247 shares of the retailer’s stock valued at $710,802,000 after purchasing an additional 620,341 shares in the last quarter. Public Employees Retirement Association of Colorado lifted its holdings in Costco Wholesale by 3,647.1% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 567,641 shares of the retailer’s stock valued at $374,688,000 after purchasing an additional 552,492 shares in the last quarter. Finally, Vanguard Group Inc. lifted its holdings in Costco Wholesale by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 40,360,168 shares of the retailer’s stock valued at $26,640,940,000 after purchasing an additional 485,051 shares in the last quarter. Hedge funds and other institutional investors own 68.48% of the company’s stock.

Costco Wholesale Stock Down 2.2 %

Costco Wholesale stock traded down $19.35 during trading on Thursday, reaching $870.67. The stock had a trading volume of 865,550 shares, compared to its average volume of 1,952,545. Costco Wholesale Co. has a 52-week low of $540.18 and a 52-week high of $918.93. The business has a 50 day moving average price of $856.21 and a 200 day moving average price of $798.00. The company has a quick ratio of 0.45, a current ratio of 0.94 and a debt-to-equity ratio of 0.27. The stock has a market cap of $385.99 billion, a PE ratio of 54.38, a P/E/G ratio of 5.98 and a beta of 0.80.

Costco Wholesale Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 9th. Investors of record on Friday, July 26th were paid a $1.16 dividend. The ex-dividend date was Friday, July 26th. This represents a $4.64 dividend on an annualized basis and a yield of 0.53%. Costco Wholesale’s dividend payout ratio is currently 28.75%.

Analyst Ratings Changes

COST has been the subject of a number of recent research reports. Citigroup increased their target price on shares of Costco Wholesale from $710.00 to $800.00 and gave the company a “neutral” rating in a research report on Friday, May 31st. Barclays increased their target price on shares of Costco Wholesale from $765.00 to $830.00 and gave the company an “equal weight” rating in a research report on Thursday, July 11th. Wells Fargo & Company increased their target price on shares of Costco Wholesale from $775.00 to $800.00 and gave the company an “equal weight” rating in a research report on Thursday, July 11th. Bank of America increased their target price on shares of Costco Wholesale from $874.00 to $962.00 and gave the company a “buy” rating in a research report on Thursday, July 11th. Finally, Argus increased their target price on shares of Costco Wholesale from $805.00 to $900.00 and gave the company a “buy” rating in a research report on Tuesday, May 28th. Eight analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. According to data from MarketBeat, Costco Wholesale has an average rating of “Moderate Buy” and an average target price of $824.50.

Insider Buying and Selling

In other 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 transaction of $1,266,300.00. Following the completion of the sale, the insider now owns 12,492 shares in the company, valued at approximately $10,545,746.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Richard A. Galanti sold 500 shares of Costco Wholesale stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $874.05, for a total value of $437,025.00. Following the transaction, the executive vice president now directly owns 22,900 shares of the company’s stock, valued at approximately $20,015,745. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Daniel M. Hines sold 1,500 shares of Costco Wholesale stock in a transaction on Friday, July 12th. The shares were sold at an average price of $844.20, for a total transaction of $1,266,300.00. Following the completion of the transaction, the insider now directly owns 12,492 shares in the company, valued at $10,545,746.40. The disclosure for this sale can be found here. Insiders sold 4,974 shares of company stock worth $4,252,856 over the last 90 days. 0.18% of the stock is owned by insiders.

Costco Wholesale Company Profile

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.