Costco Wholesale Corporation $COST Shares Sold by Chesley Taft & Associates LLC

Key Points

• Chesley Taft & Associates LLC reduced its holdings in Costco by 0.9%, retaining 67,863 shares worth approximately $67.18 million, making it the firm's 6th largest investment.
• Costco recently declared a quarterly dividend of $1.30 per share, with an annualized yield of 0.5%, reflecting a dividend payout ratio of 29.5%.
• Analysts have varied ratings on Costco, with a consensus of "Moderate Buy" and an average target price of $1,056.67, based on input from 17 buy ratings and 9 hold ratings.

Chesley Taft & Associates LLC decreased its position in Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 0.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 67,863 shares of the retailer's stock after selling 625 shares during the period. Costco Wholesale comprises 3.0% of Chesley Taft & Associates LLC's portfolio, making the stock its 6th largest holding. Chesley Taft & Associates LLC's holdings in Costco Wholesale were worth $67,180,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Bulwark Capital Corp purchased a new stake in shares of Costco Wholesale in the second quarter valued at approximately $25,000. Investment Management Corp VA ADV acquired a new stake in Costco Wholesale in the fourth quarter valued at $25,000. Anderson Financial Strategies LLC boosted its position in shares of Costco Wholesale by 900.0% during the 1st quarter. Anderson Financial Strategies LLC now owns 40 shares of the retailer's stock worth $38,000 after purchasing an additional 36 shares in the last quarter. eCIO Inc. purchased a new stake in shares of Costco Wholesale during the 1st quarter worth $48,000. Finally, Aspect Partners LLC grew its stake in shares of Costco Wholesale by 24.4% during the 1st quarter. Aspect Partners LLC now owns 56 shares of the retailer's stock worth $53,000 after purchasing an additional 11 shares during the period. 68.48% of the stock is owned by hedge funds and other institutional investors.

Costco Wholesale Trading Down 0.8%

Shares of COST stock opened at $952.07 on Wednesday. The firm has a market cap of $422.22 billion, a P/E ratio of 54.00, a PEG ratio of 5.40 and a beta of 0.97. Costco Wholesale Corporation has a 1-year low of $867.16 and a 1-year high of $1,078.23. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.02 and a quick ratio of 0.52. The firm's 50-day simple moving average is $959.09 and its 200-day simple moving average is $973.54.

Costco Wholesale Dividend Announcement

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

Insider Buying and Selling at Costco Wholesale

In other news, EVP Yoram Rubanenko sold 4,000 shares of the stock in a transaction dated 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 owned 5,774 shares in the company, valued at approximately $5,629,419.04. This trade represents a 40.92% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Teresa A. Jones sold 600 shares of the stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $992.05, for a total transaction of $595,230.00. Following the completion of the sale, the executive vice president directly owned 2,362 shares of the company's stock, valued at $2,343,222.10. This trade represents a 20.26% decrease in their position. The disclosure for this sale can be found here. 0.18% of the stock is owned by insiders.

Analyst Ratings Changes

Several analysts recently commented on the stock. Loop Capital reduced their price objective on shares of Costco Wholesale from $1,115.00 to $1,110.00 and set a "buy" rating for the company in a research note on Thursday, May 29th. JPMorgan Chase & Co. increased their target price on shares of Costco Wholesale from $1,115.00 to $1,160.00 and gave the company an "overweight" rating in a report on Thursday, August 7th. Wall Street Zen raised Costco Wholesale from a "hold" rating to a "buy" rating in a research note on Friday, June 6th. Erste Group Bank downgraded Costco Wholesale from a "buy" rating to a "hold" rating in a research note on Tuesday, August 5th. Finally, Morgan Stanley lifted their price objective on Costco Wholesale from $1,150.00 to $1,225.00 and gave the stock an "overweight" rating in a report on Friday, May 30th. Seventeen equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $1,056.67.

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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