Concurrent Investment Advisors LLC Has $7.01 Million Stock Holdings in Costco Wholesale Co. (NASDAQ:COST)

Concurrent Investment Advisors LLC grew its stake in Costco Wholesale Co. (NASDAQ:COST) by 22.8% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 8,251 shares of the retailer’s stock after purchasing an additional 1,532 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in Costco Wholesale were worth $7,013,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Frank Rimerman Advisors LLC acquired a new position in Costco Wholesale in the fourth quarter valued at about $26,000. Redmont Wealth Advisors LLC acquired a new position in shares of Costco Wholesale during the 1st quarter worth about $32,000. Vima LLC bought a new stake in shares of Costco Wholesale in the 4th quarter valued at about $34,000. DSM Capital Partners LLC acquired a new stake in shares of Costco Wholesale in the 4th quarter valued at approximately $36,000. Finally, Financial Connections Group Inc. boosted its stake in Costco Wholesale by 557.1% during the 2nd 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 last quarter. 68.48% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Costco Wholesale news, EVP Richard A. Galanti sold 500 shares of the company’s 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 in the company, valued at $20,015,745. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, Director Susan L. Decker sold 620 shares of Costco Wholesale stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $876.50, for a total transaction of $543,430.00. Following the completion of the sale, the director now owns 11,775 shares of the company’s stock, valued at $10,320,787.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Richard A. Galanti sold 500 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $874.05, for a total transaction of $437,025.00. Following the completion of the sale, the executive vice president now directly owns 22,900 shares of the company’s stock, valued at approximately $20,015,745. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 4,974 shares of company stock worth $4,252,856. Company insiders own 0.18% of the company’s stock.

Costco Wholesale Trading Up 0.6 %

Shares of Costco Wholesale stock opened at $892.38 on Friday. Costco Wholesale Co. has a 12-month low of $539.31 and a 12-month high of $918.93. 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 business’s 50 day moving average is $854.20 and its 200-day moving average is $794.58. The stock has a market cap of $395.62 billion, a P/E ratio of 55.29, a P/E/G ratio of 5.98 and a beta of 0.78.

Costco Wholesale (NASDAQ:COST) last posted its quarterly earnings results on Thursday, May 30th. The retailer reported $3.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.70 by $0.08. Costco Wholesale had a net margin of 2.83% and a return on equity of 30.02%. The firm had revenue of $58.52 billion for the quarter, compared to analyst estimates of $58.16 billion. During the same period in the prior year, the firm posted $3.43 earnings per share. The company’s quarterly revenue was up 9.1% compared to the same quarter last year. Equities research analysts predict that Costco Wholesale Co. will post 15.98 earnings per share for the current fiscal year.

Costco Wholesale Announces Dividend

The company also recently announced 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 of this dividend was Friday, July 26th. This represents a $4.64 annualized dividend and a yield of 0.52%. Costco Wholesale’s dividend payout ratio (DPR) is currently 28.75%.

Analysts Set New Price Targets

COST has been the subject of several recent analyst reports. BMO Capital Markets upped their target price on shares of Costco Wholesale from $875.00 to $950.00 and gave the company an “outperform” rating in a research note on Monday, August 12th. Robert W. Baird upped their price objective on shares of Costco Wholesale from $850.00 to $975.00 and gave the company an “outperform” rating in a research report on Thursday, July 11th. Roth Mkm reiterated a “neutral” rating and set a $676.00 target price (up from $650.00) on shares of Costco Wholesale in a report on Friday, May 31st. Oppenheimer decreased their target price on Costco Wholesale from $950.00 to $925.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Finally, Citigroup raised their target price on shares of Costco Wholesale from $710.00 to $800.00 and gave the stock a “neutral” rating in a report on Friday, May 31st. Eight analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $824.50.

Costco Wholesale 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.