Costco Wholesale Co. (NASDAQ:COST) Stock Position Increased by Purus Wealth Management LLC

Purus Wealth Management LLC increased its position in shares of Costco Wholesale Co. (NASDAQ:COST) by 4.4% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 15,591 shares of the retailer’s stock after buying an additional 660 shares during the quarter. Costco Wholesale makes up 5.9% of Purus Wealth Management LLC’s portfolio, making the stock its 2nd largest holding. Purus Wealth Management LLC’s holdings in Costco Wholesale were worth $13,252,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Frank Rimerman Advisors LLC acquired a new position in Costco Wholesale during the fourth quarter worth $26,000. Redmont Wealth Advisors LLC acquired a new position in Costco Wholesale during the first quarter worth $32,000. Vima LLC acquired a new position in Costco Wholesale during the fourth quarter worth $34,000. DSM Capital Partners LLC acquired a new position in Costco Wholesale during the fourth quarter worth $36,000. Finally, Financial Connections Group Inc. raised its position in 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 acquiring an additional 39 shares during the period. 68.48% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Daniel M. Hines sold 1,500 shares of the firm’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 transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, Director Kenneth D. Denman sold 350 shares of the firm’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $851.53, for a total value of $298,035.50. Following the completion of the transaction, the director now owns 5,920 shares of the company’s stock, valued at $5,041,057.60. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Daniel M. Hines sold 1,500 shares of the firm’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 transaction, the insider now directly owns 12,492 shares of the company’s stock, valued at approximately $10,545,746.40. The disclosure for this sale can be found here. Over the last quarter, insiders sold 4,974 shares of company stock valued at $4,252,856. 0.18% of the stock is currently owned by company insiders.

Costco Wholesale Trading Down 1.2 %

Shares of COST stock opened at $897.27 on Wednesday. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.94 and a quick ratio of 0.45. The firm has a market cap of $397.79 billion, a PE ratio of 55.59, a price-to-earnings-growth ratio of 5.56 and a beta of 0.80. The company has a 50-day moving average of $862.32 and a two-hundred day moving average of $808.65. Costco Wholesale Co. has a 1-year low of $540.23 and a 1-year high of $923.83.

Costco Wholesale Announces Dividend

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

Analysts Set New Price Targets

A number of equities research analysts have recently commented on COST shares. Stifel Nicolaus increased their target price on shares of Costco Wholesale from $910.00 to $915.00 and gave the company a “buy” rating in a research report on Friday, September 6th. Loop Capital increased their target price on shares of Costco Wholesale from $970.00 to $975.00 and gave the company a “buy” rating in a research report on Friday, September 6th. Tigress Financial increased their target price on shares of Costco Wholesale from $870.00 to $975.00 and gave the company a “buy” rating in a research report on Tuesday, June 25th. Morgan Stanley increased their target price on shares of Costco Wholesale from $855.00 to $950.00 and gave the company an “overweight” rating in a research report on Monday, September 9th. Finally, 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. Eight analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Costco Wholesale currently has an average rating of “Moderate Buy” and an average price target of $844.52.

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.