Ballentine Partners LLC Buys 299 Shares of Costco Wholesale Corporation $COST

Key Points

• Ballentine Partners LLC increased its stake in Costco Wholesale Corporation by 3.1%, acquiring an additional 299 shares, bringing its total holdings to 10,046 shares valued at approximately $9.94 million.
• Costco announced a quarterly dividend of $1.30 per share, yielding 0.6%, with a payout ratio of 29.50% based on recent financials.
• Wall Street analysts have a consensus rating of "Moderate Buy" for Costco stocks, with a price target average of $1,061.30.

Ballentine Partners LLC increased its stake in Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 3.1% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 10,046 shares of the retailer's stock after acquiring an additional 299 shares during the period. Ballentine Partners LLC's holdings in Costco Wholesale were worth $9,945,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in COST. Personal CFO Solutions LLC lifted its stake in Costco Wholesale by 12.4% in the first quarter. Personal CFO Solutions LLC now owns 1,519 shares of the retailer's stock worth $1,436,000 after purchasing an additional 167 shares during the last quarter. F&V Capital Management LLC purchased a new position in shares of Costco Wholesale in the first quarter worth about $236,000. Graybill Wealth Management LTD. bought a new stake in shares of Costco Wholesale in the 1st quarter valued at about $3,095,000. Rossmore Private Capital lifted its stake in shares of Costco Wholesale by 0.9% in the 1st quarter. Rossmore Private Capital now owns 6,687 shares of the retailer's stock valued at $6,325,000 after acquiring an additional 62 shares during the last quarter. Finally, Curat Global LLC purchased a new stake in Costco Wholesale during the 1st quarter valued at about $241,000. Hedge funds and other institutional investors own 68.48% of the company's stock.

Costco Wholesale Trading Up 0.0%

Costco Wholesale stock opened at $943.60 on Wednesday. Costco Wholesale Corporation has a 52-week low of $867.16 and a 52-week high of $1,078.23. The company has a market cap of $418.46 billion, a P/E ratio of 53.52, a P/E/G ratio of 5.30 and a beta of 0.97. The company has a quick ratio of 0.52, a current ratio of 1.02 and a debt-to-equity ratio of 0.21. The business has a 50-day simple moving average of $956.73 and a two-hundred day simple moving average of $970.98.

Costco Wholesale Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Friday, August 1st were issued a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend was Friday, August 1st. Costco Wholesale's dividend payout ratio is currently 29.50%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Morgan Stanley increased their price objective on Costco Wholesale from $1,150.00 to $1,225.00 and gave the company an "overweight" rating in a research note on Friday, May 30th. Telsey Advisory Group reissued an "outperform" rating and issued a $1,100.00 price target on shares of Costco Wholesale in a report on Wednesday, August 27th. Wolfe Research assumed coverage on Costco Wholesale in a research note on Thursday, September 18th. They issued a "peer perform" rating on the stock. Truist Financial lifted their price objective on Costco Wholesale from $995.00 to $1,042.00 and gave the stock a "hold" rating in a research report on Friday, May 30th. Finally, Evercore ISI decreased their target price on Costco Wholesale from $1,075.00 to $1,060.00 and set an "outperform" rating for the company in a report on Tuesday, June 17th. Seventeen equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $1,061.30.

Insider Buying and Selling

In other news, EVP Yoram Rubanenko sold 4,000 shares of the company's stock in a transaction on Monday, July 14th. The stock was sold at an average price of $974.96, for a total value of $3,899,840.00. Following the completion of the sale, the executive vice president directly owned 5,774 shares in the company, valued at $5,629,419.04. This represents a 40.92% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Teresa A. Jones sold 600 shares of Costco Wholesale stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $992.05, for a total value of $595,230.00. Following the transaction, the executive vice president owned 2,362 shares in the company, valued at $2,343,222.10. This trade represents a 20.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.18% of the stock is currently owned by corporate 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.

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