Douglas Lane & Associates LLC Has $4.44 Million Stock Position in Costco Wholesale Corporation $COST

Key Points

• Douglas Lane & Associates LLC sold 603 shares of Costco, reducing its position by 11.8% to 4,486 shares, valued at approximately $4.44 million.
• Costco recently paid a quarterly dividend of $1.30 per share, with a current dividend yield of 0.5% and a payout ratio of 29.5%.
• Wall Street analysts have mixed views on Costco, with target prices ranging from $1,035.00 to $1,225.00, while the stock currently has an average rating of "Moderate Buy."

Douglas Lane & Associates LLC reduced its holdings in shares of Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 11.8% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,486 shares of the retailer's stock after selling 603 shares during the period. Douglas Lane & Associates LLC's holdings in Costco Wholesale were worth $4,441,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Brighton Jones LLC grew its holdings in shares of Costco Wholesale by 12.3% in the 4th quarter. Brighton Jones LLC now owns 19,825 shares of the retailer's stock worth $18,165,000 after purchasing an additional 2,172 shares during the last quarter. Revolve Wealth Partners LLC grew its holdings in shares of Costco Wholesale by 13.1% in the 4th quarter. Revolve Wealth Partners LLC now owns 1,123 shares of the retailer's stock worth $1,029,000 after purchasing an additional 130 shares during the last quarter. Bank Pictet & Cie Europe AG grew its holdings in Costco Wholesale by 45.0% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 117,254 shares of the retailer's stock worth $107,436,000 after acquiring an additional 36,384 shares during the last quarter. Highview Capital Management LLC DE grew its holdings in Costco Wholesale by 0.8% during the 4th quarter. Highview Capital Management LLC DE now owns 4,813 shares of the retailer's stock worth $4,410,000 after acquiring an additional 40 shares during the last quarter. Finally, Strategic Wealth Partners Ltd. grew its holdings in Costco Wholesale by 1.2% during the 4th quarter. Strategic Wealth Partners Ltd. now owns 4,181 shares of the retailer's stock worth $3,831,000 after acquiring an additional 51 shares during the last quarter. Institutional investors own 68.48% of the company's stock.

Costco Wholesale Trading Down 0.8%

Costco Wholesale stock traded down $7.80 during midday trading on Monday, hitting $960.10. 2,197,855 shares of the stock were exchanged, compared to its average volume of 1,941,441. The company has a fifty day simple moving average of $959.76 and a two-hundred day simple moving average of $973.69. Costco Wholesale Corporation has a 52 week low of $867.16 and a 52 week high of $1,078.23. The stock has a market capitalization of $425.79 billion, a PE ratio of 54.46, a P/E/G ratio of 5.45 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.

Costco Wholesale Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Friday, August 1st were paid a dividend of $1.30 per share. The ex-dividend date of this dividend 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 presently 29.50%.

Wall Street Analyst Weigh In

A number of brokerages have commented on COST. Telsey Advisory Group reissued an "outperform" rating and set a $1,100.00 price objective on shares of Costco Wholesale in a report on Wednesday, August 27th. JPMorgan Chase & Co. increased their price objective on shares of Costco Wholesale from $1,115.00 to $1,160.00 and gave the stock an "overweight" rating in a report on Thursday, August 7th. Morgan Stanley increased their price objective on shares of Costco Wholesale from $1,150.00 to $1,225.00 and gave the stock an "overweight" rating in a report on Friday, May 30th. Truist Financial increased their price objective on shares of Costco Wholesale from $995.00 to $1,042.00 and gave the stock a "hold" rating in a report on Friday, May 30th. Finally, Erste Group Bank lowered shares of Costco Wholesale from a "buy" rating to a "hold" rating in a report on Tuesday, August 5th. Seventeen analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $1,056.67.

Insider Buying and Selling

In other Costco Wholesale news, EVP Yoram Rubanenko sold 4,000 shares of the firm's stock in a transaction that occurred on Monday, July 14th. The shares were sold at an average price of $974.96, for a total transaction of $3,899,840.00. Following the sale, the executive vice president directly owned 5,774 shares in the company, valued at approximately $5,629,419.04. This trade represents a 40.92% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Susan L. Decker sold 547 shares of the firm's stock in a transaction that occurred on Wednesday, June 18th. The stock was sold at an average price of $980.00, for a total transaction of $536,060.00. Following the sale, the director owned 11,531 shares in the company, valued at $11,300,380. This trade represents a 4.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,147 shares of company stock valued at $5,031,130 in the last 90 days. 0.18% of the stock is owned by 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.