Costco Wholesale Corporation $COST Stock Position Trimmed by Institute for Wealth Management LLC.

Key Points

• Institute for Wealth Management LLC reduced its holdings in Costco Wholesale by 3.0%, now owning 9,216 shares valued at approximately $9.12 million.
• Costco recently announced a quarterly dividend of $1.30 per share with an annual yield of 0.5% and a payout ratio of 29.50%.
• Wall Street analysts predominantly maintain a positive outlook on Costco, with 17 analysts rating it as a Buy and a consensus price target of $1,056.67.

Institute for Wealth Management LLC. decreased its position in Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 3.0% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,216 shares of the retailer's stock after selling 286 shares during the period. Costco Wholesale makes up approximately 1.0% of Institute for Wealth Management LLC.'s holdings, making the stock its 9th biggest position. Institute for Wealth Management LLC.'s holdings in Costco Wholesale were worth $9,124,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in COST. Brighton Jones LLC increased 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 in the last quarter. Revolve Wealth Partners LLC lifted its stake in Costco Wholesale by 13.1% during the 4th quarter. Revolve Wealth Partners LLC now owns 1,123 shares of the retailer's stock valued at $1,029,000 after acquiring an additional 130 shares during the period. Bank Pictet & Cie Europe AG lifted its stake 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 valued at $107,436,000 after acquiring an additional 36,384 shares during the period. Vise Technologies Inc. boosted its holdings in shares of Costco Wholesale by 77.0% during the 4th quarter. Vise Technologies Inc. now owns 5,174 shares of the retailer's stock valued at $4,741,000 after acquiring an additional 2,251 shares during the last quarter. Finally, Stonebridge Financial Planning Group LLC grew its stake in shares of Costco Wholesale by 6.2% in the fourth quarter. Stonebridge Financial Planning Group LLC now owns 1,812 shares of the retailer's stock worth $1,660,000 after acquiring an additional 105 shares during the period. Institutional investors own 68.48% of the company's stock.

Costco Wholesale Price Performance

COST traded down $7.90 during trading on Monday, hitting $943.26. 2,768,781 shares of the company traded hands, compared to its average volume of 2,203,287. 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 company has a market cap of $418.32 billion, a PE ratio of 53.50, a P/E/G ratio of 5.34 and a beta of 0.97. The stock's 50-day simple moving average is $957.97 and its two-hundred day simple moving average is $971.32. Costco Wholesale Corporation has a 1 year low of $867.16 and a 1 year high of $1,078.23.

Costco Wholesale Dividend Announcement

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

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 stock was sold at an average price of $974.96, for a total transaction of $3,899,840.00. Following the completion of the transaction, the executive vice president owned 5,774 shares in the company, valued at $5,629,419.04. This trade represents a 40.92% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Teresa A. Jones sold 600 shares of Costco Wholesale stock in a transaction that occurred 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 completion of the sale, the executive vice president directly owned 2,362 shares in the company, valued at approximately $2,343,222.10. The trade was a 20.26% decrease in their position. The disclosure for this sale can be found here. 0.18% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

COST has been the subject of a number of research analyst reports. Loop Capital cut their target price on shares of Costco Wholesale from $1,115.00 to $1,110.00 and set a "buy" rating for the company in a research report on Thursday, May 29th. Wall Street Zen raised shares of Costco Wholesale from a "hold" rating to a "buy" rating in a research report on Friday, June 6th. Morgan Stanley increased their price target on shares of Costco Wholesale from $1,150.00 to $1,225.00 and gave the stock an "overweight" rating in a research report on Friday, May 30th. JPMorgan Chase & Co. raised 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. Finally, Telsey Advisory Group reiterated an "outperform" rating and set a $1,100.00 price objective on shares of Costco Wholesale in a research note on Wednesday, August 27th. Seventeen research 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, the company currently has a consensus rating of "Moderate Buy" and an average price target of $1,056.67.

About Costco Wholesale

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.