Ballast Inc. Raises Stake in Costco Wholesale Co. (NASDAQ:COST)

Ballast Inc. raised its stake in Costco Wholesale Co. (NASDAQ:COSTGet Rating) by 1.3% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 2,714 shares of the retailer’s stock after purchasing an additional 35 shares during the quarter. Costco Wholesale accounts for 0.6% of Ballast Inc.’s portfolio, making the stock its 28th biggest position. Ballast Inc.’s holdings in Costco Wholesale were worth $1,300,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Ford Financial Group LLC boosted its stake in shares of Costco Wholesale by 2.4% in the 1st quarter. Ford Financial Group LLC now owns 821 shares of the retailer’s stock valued at $472,000 after purchasing an additional 19 shares in the last quarter. Fermata Advisors LLC boosted its holdings in shares of Costco Wholesale by 5.1% during the 1st quarter. Fermata Advisors LLC now owns 394 shares of the retailer’s stock valued at $227,000 after acquiring an additional 19 shares during the last quarter. Strategic Investment Advisors MI boosted its holdings in shares of Costco Wholesale by 1.9% in the first quarter. Strategic Investment Advisors MI now owns 1,026 shares of the retailer’s stock worth $591,000 after buying an additional 19 shares during the last quarter. Gill Capital Partners LLC raised its stake in Costco Wholesale by 2.2% during the 4th quarter. Gill Capital Partners LLC now owns 909 shares of the retailer’s stock worth $516,000 after acquiring an additional 20 shares during the period. Finally, Retirement Solution Inc. raised its stake in Costco Wholesale by 1.1% during the 4th quarter. Retirement Solution Inc. now owns 1,919 shares of the retailer’s stock worth $1,089,000 after acquiring an additional 20 shares during the period. Institutional investors own 66.83% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on COST shares. StockNews.com upgraded shares of Costco Wholesale from a “hold” rating to a “buy” rating in a research report on Friday, July 15th. Robert W. Baird restated an “outperform” rating and issued a $575.00 price objective on shares of Costco Wholesale in a report on Friday, September 2nd. Deutsche Bank Aktiengesellschaft upped their target price on Costco Wholesale from $579.00 to $581.00 and gave the company a “buy” rating in a research report on Wednesday. Truist Financial upped their target price on Costco Wholesale from $543.00 to $571.00 in a research note on Thursday, August 4th. Finally, Citigroup increased their price objective on Costco Wholesale from $510.00 to $545.00 in a research note on Thursday, August 4th. Four investment analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company. According to MarketBeat.com, Costco Wholesale currently has a consensus rating of “Moderate Buy” and an average target price of $575.36.

Costco Wholesale Stock Performance

COST stock opened at $487.17 on Friday. The company has a 50 day moving average price of $529.73 and a 200 day moving average price of $519.85. The stock has a market capitalization of $215.80 billion, a PE ratio of 38.36, a price-to-earnings-growth ratio of 3.72 and a beta of 0.70. Costco Wholesale Co. has a fifty-two week low of $406.51 and a fifty-two week high of $612.27. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.04 and a quick ratio of 0.48.

Costco Wholesale Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 12th. Shareholders of record on Friday, July 29th were issued a $0.09 dividend. The ex-dividend date of this dividend was Thursday, July 28th. This represents a $0.36 annualized dividend and a yield of 0.07%. Costco Wholesale’s dividend payout ratio is currently 28.35%.

Insiders Place Their Bets

In other Costco Wholesale news, CFO Richard A. Galanti sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 14th. The shares were sold at an average price of $505.60, for a total value of $505,600.00. Following the sale, the chief financial officer now owns 25,750 shares in the company, valued at $13,019,200. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CFO Richard A. Galanti sold 1,000 shares of Costco Wholesale stock in a transaction dated Thursday, July 14th. The shares were sold at an average price of $505.60, for a total transaction of $505,600.00. Following the completion of the transaction, the chief financial officer now directly owns 25,750 shares in the company, valued at $13,019,200. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kenneth D. Denman sold 300 shares of the business’s stock in a transaction dated Friday, July 15th. The stock was sold at an average price of $521.68, for a total transaction of $156,504.00. Following the transaction, the director now owns 5,197 shares in the company, valued at $2,711,170.96. The disclosure for this sale can be found here. Insiders have sold a total of 2,800 shares of company stock worth $1,449,904 in the last quarter. Corporate insiders own 0.22% of the company’s stock.

Costco Wholesale Company Profile

(Get Rating)

Costco Wholesale Corporation, together with its subsidiaries, engages in the operation of membership warehouses in the United States, Puerto Rico, Canada, the United Kingdom, Mexico, Japan, Korea, Australia, Spain, France, Iceland, China, and Taiwan. It offers branded and private-label products in a range of merchandise categories.

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Institutional Ownership by Quarter for Costco Wholesale (NASDAQ:COST)

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