Weatherly Asset Management L. P. Sells 520 Shares of Costco Wholesale Corporation $COST

Key Points

• Weatherly Asset Management L. P. reduced its stake in Costco Wholesale Corporation by 1.8%, selling 520 shares, which leaves them with 28,258 shares valued at approximately $27.97 million.
• The company's stock has a consensus rating of "Moderate Buy" from analysts, with a current price target averaging $1,056.67.
• Costco recently declared a quarterly dividend of $1.30 per share, reflecting an annualized yield of 0.5%, with a payout ratio of 29.50%.

Weatherly Asset Management L. P. reduced its holdings in Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 1.8% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 28,258 shares of the retailer's stock after selling 520 shares during the quarter. Costco Wholesale accounts for about 2.4% of Weatherly Asset Management L. P.'s investment portfolio, making the stock its 8th largest holding. Weatherly Asset Management L. P.'s holdings in Costco Wholesale were worth $27,974,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of COST. Personal CFO Solutions LLC boosted its position in shares of Costco Wholesale by 12.4% during the first quarter. Personal CFO Solutions LLC now owns 1,519 shares of the retailer's stock worth $1,436,000 after buying an additional 167 shares during the period. F&V Capital Management LLC acquired a new position in shares of Costco Wholesale during the first quarter worth about $236,000. Graybill Wealth Management LTD. acquired a new position in shares of Costco Wholesale during the first quarter worth about $3,095,000. Rossmore Private Capital boosted its position in shares of Costco Wholesale by 0.9% during the first quarter. Rossmore Private Capital now owns 6,687 shares of the retailer's stock worth $6,325,000 after buying an additional 62 shares during the period. Finally, Curat Global LLC acquired a new position in Costco Wholesale during the first quarter valued at approximately $241,000. 68.48% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Costco Wholesale

In other news, EVP Teresa A. Jones sold 600 shares of Costco Wholesale 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 in the company, valued at approximately $2,343,222.10. This trade represents a 20.26% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Yoram Rubanenko sold 4,000 shares of Costco Wholesale 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 owned 5,774 shares in the company, valued at approximately $5,629,419.04. The trade was a 40.92% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.18% of the company's stock.

Costco Wholesale Stock Performance

Shares of NASDAQ COST traded down $1.20 during trading hours on Friday, reaching $951.16. 4,601,598 shares of the stock were exchanged, compared to its average volume of 1,916,574. The firm has a market capitalization of $421.82 billion, a price-to-earnings ratio of 53.95, a P/E/G ratio of 5.34 and a beta of 0.97. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.52 and a current ratio of 1.02. Costco Wholesale Corporation has a 52 week low of $867.16 and a 52 week high of $1,078.23. The stock's fifty day simple moving average is $957.97 and its 200 day simple moving average is $971.70.

Costco Wholesale Announces Dividend

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

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Loop Capital reduced their price target on 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. JPMorgan Chase & Co. increased their price target on Costco Wholesale from $1,115.00 to $1,160.00 and gave the company an "overweight" rating in a research report on Thursday, August 7th. Morgan Stanley increased their price target on Costco Wholesale from $1,150.00 to $1,225.00 and gave the company an "overweight" rating in a research report on Friday, May 30th. Stifel Nicolaus set a $1,035.00 price target on Costco Wholesale in a research report on Thursday, May 29th. Finally, Erste Group Bank cut Costco Wholesale from a "buy" rating to a "hold" rating in a research report on Tuesday, August 5th. Seventeen equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus 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.