Clare Market Investments LLC Has $4.44 Million Stake in Costco Wholesale Corporation $COST

Clare Market Investments LLC lifted its position in Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 12.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,487 shares of the retailer's stock after purchasing an additional 506 shares during the quarter. Costco Wholesale accounts for 1.0% of Clare Market Investments LLC's portfolio, making the stock its 21st largest position. Clare Market Investments LLC's holdings in Costco Wholesale were worth $4,442,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of COST. GAMMA Investing LLC raised its stake in shares of Costco Wholesale by 106,402.1% in the first quarter. GAMMA Investing LLC now owns 8,160,190 shares of the retailer's stock valued at $7,717,744,000 after purchasing an additional 8,152,528 shares in the last quarter. Nuveen LLC acquired a new position in Costco Wholesale during the first quarter worth $3,461,159,000. Vanguard Group Inc. raised its stake in Costco Wholesale by 1.0% during the first quarter. Vanguard Group Inc. now owns 42,644,711 shares of the retailer's stock worth $40,332,515,000 after acquiring an additional 443,101 shares in the last quarter. National Bank of Canada FI raised its stake in Costco Wholesale by 84.0% during the first quarter. National Bank of Canada FI now owns 812,188 shares of the retailer's stock worth $768,114,000 after acquiring an additional 370,806 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Costco Wholesale during the fourth quarter worth $280,046,000. 68.48% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

COST has been the subject of several recent analyst reports. Wall Street Zen upgraded Costco Wholesale from a "hold" rating to a "buy" rating in a research note on Friday, June 6th. JPMorgan Chase & Co. increased their price objective on Costco Wholesale from $1,115.00 to $1,160.00 and gave the stock an "overweight" rating in a research note on Thursday, August 7th. Erste Group Bank lowered Costco Wholesale from a "buy" rating to a "hold" rating in a research note on Tuesday, August 5th. Truist Financial increased their price objective on Costco Wholesale from $995.00 to $1,042.00 and gave the stock a "hold" rating in a research note on Friday, May 30th. Finally, Evercore ISI dropped their price objective on Costco Wholesale from $1,075.00 to $1,060.00 and set an "outperform" rating for the company in a research note on Tuesday, June 17th. Seventeen investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Costco Wholesale presently has an average rating of "Moderate Buy" and a consensus price target of $1,056.67.

Insider Activity

In related news, EVP Teresa A. Jones sold 600 shares of the firm's stock in a transaction dated 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 in the company, valued at $2,343,222.10. This trade represents a 20.26% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Yoram Rubanenko sold 4,000 shares of the firm's stock in a transaction dated 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 owned 5,774 shares in the company, valued at approximately $5,629,419.04. This represents a 40.92% decrease in their position. The disclosure for this sale can be found here. 0.18% of the stock is owned by company insiders.

Costco Wholesale Price Performance

Shares of COST stock opened at $952.36 on Friday. The stock's fifty day moving average is $958.35 and its 200-day moving average is $972.82. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.52 and a current ratio of 1.02. The stock has a market capitalization of $422.35 billion, a PE ratio of 54.02, a PEG ratio of 5.42 and a beta of 0.97. Costco Wholesale Corporation has a 52 week low of $867.16 and a 52 week high of $1,078.23.

Costco Wholesale Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Friday, August 1st were issued a $1.30 dividend. The ex-dividend date was Friday, August 1st. This represents a $5.20 annualized dividend and a yield of 0.5%. Costco Wholesale's dividend payout ratio (DPR) is currently 29.50%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.