CHB Investment Group LLC Boosts Stock Position in Costco Wholesale Corporation $COST

Key Points

• CHB Investment Group LLC has increased its stake in Costco Wholesale Corporation by 9.4%, owning a total of 3,317 shares now valued at $3,284,000.
• Costco's stock currently holds an average rating of "Moderate Buy" from analysts, with a consensus target price of $1,061.30.
• Insider trades include significant sales by executives, with EVP Teresa A. Jones selling 600 shares for approximately $595,230, representing a significant decrease in her holdings.

CHB Investment Group LLC grew its stake in Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 9.4% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,317 shares of the retailer's stock after purchasing an additional 284 shares during the period. CHB Investment Group LLC's holdings in Costco Wholesale were worth $3,284,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in the stock. BCS Wealth Management grew its position in shares of Costco Wholesale by 79.8% in the second quarter. BCS Wealth Management now owns 1,246 shares of the retailer's stock valued at $1,233,000 after purchasing an additional 553 shares in the last quarter. Charter Capital Management LLC DE purchased a new stake in shares of Costco Wholesale in the second quarter valued at approximately $431,000. Norden Group LLC grew its position in shares of Costco Wholesale by 23.1% in the second quarter. Norden Group LLC now owns 3,831 shares of the retailer's stock valued at $3,793,000 after purchasing an additional 720 shares in the last quarter. Accurate Wealth Management LLC grew its position in shares of Costco Wholesale by 10.0% in the second quarter. Accurate Wealth Management LLC now owns 1,250 shares of the retailer's stock valued at $1,213,000 after purchasing an additional 114 shares in the last quarter. Finally, Maseco LLP purchased a new stake in shares of Costco Wholesale in the second quarter valued at approximately $232,000. 68.48% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on COST shares. Telsey Advisory Group restated an "outperform" rating and issued a $1,100.00 price target on shares of Costco Wholesale in a research report on Wednesday, August 27th. Wolfe Research initiated coverage on Costco Wholesale in a research report on Thursday, September 18th. They issued a "peer perform" rating for the company. Erste Group Bank cut Costco Wholesale from a "buy" rating to a "hold" rating in a report on Tuesday, August 5th. Wall Street Zen upgraded Costco Wholesale from a "hold" rating to a "buy" rating in a report on Friday, June 6th. Finally, Morgan Stanley upped their price objective on Costco Wholesale from $1,150.00 to $1,225.00 and gave the company an "overweight" rating in a report on Friday, May 30th. Seventeen research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $1,061.30.

Costco Wholesale Stock Up 0.0%

Costco Wholesale stock opened at $943.60 on Wednesday. Costco Wholesale Corporation has a twelve month low of $867.16 and a twelve month high of $1,078.23. The stock's fifty day simple moving average is $956.73 and its 200-day simple moving average is $970.98. The company has a current ratio of 1.02, a quick ratio of 0.52 and a debt-to-equity ratio of 0.21. The firm has a market capitalization 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.

Costco Wholesale Dividend Announcement

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

Insider Buying and Selling at Costco Wholesale

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

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.

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