Monterey Private Wealth Inc. Acquires 109 Shares of Costco Wholesale Co. (NASDAQ:COST)

Monterey Private Wealth Inc. lifted its holdings in Costco Wholesale Co. (NASDAQ:COSTGet Rating) by 2.8% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,034 shares of the retailer’s stock after buying an additional 109 shares during the period. Costco Wholesale comprises 1.1% of Monterey Private Wealth Inc.’s holdings, making the stock its 19th largest holding. Monterey Private Wealth Inc.’s holdings in Costco Wholesale were worth $1,933,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Contravisory Investment Management Inc. bought a new position in Costco Wholesale during the 1st quarter valued at about $26,000. Comprehensive Financial Consultants Institutional Inc. bought a new position in Costco Wholesale during the 4th quarter valued at about $30,000. Lansing Street Advisors bought a new position in Costco Wholesale during the 1st quarter valued at about $41,000. Mystic Asset Management Inc. bought a new position in Costco Wholesale during the 4th quarter valued at about $40,000. Finally, Cordant Inc. bought a new position in Costco Wholesale during the 1st quarter valued at about $47,000. 66.83% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

COST has been the subject of several research reports. BMO Capital Markets reissued a “buy” rating and issued a $580.00 price objective on shares of Costco Wholesale in a research report on Monday, May 30th. Jefferies Financial Group reissued a “buy” rating and issued a $580.00 price objective on shares of Costco Wholesale in a research report on Friday, July 29th. The Goldman Sachs Group boosted their price objective on shares of Costco Wholesale from $516.00 to $573.00 and gave the company a “buy” rating in a research report on Thursday, August 4th. Raymond James boosted their price objective on shares of Costco Wholesale from $560.00 to $600.00 and gave the company an “outperform” rating in a research report on Friday, August 5th. Finally, Robert W. Baird reissued an “outperform” rating and issued a $575.00 price objective on shares of Costco Wholesale in a research report on Friday, September 2nd. Four analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $575.36.

Insider Activity at Costco Wholesale

In other Costco Wholesale news, VP James P. Murphy sold 1,500 shares of the company’s stock in a transaction that occurred on Wednesday, July 20th. The shares were sold at an average price of $525.20, for a total transaction of $787,800.00. Following the transaction, the vice president now owns 36,230 shares in the company, valued at approximately $19,027,996. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Costco Wholesale news, VP James P. Murphy sold 1,500 shares of the company’s stock in a transaction that occurred on Wednesday, July 20th. The shares were sold at an average price of $525.20, for a total transaction of $787,800.00. Following the transaction, the vice president now owns 36,230 shares in the company, valued at approximately $19,027,996. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kenneth D. Denman sold 300 shares of the company’s stock in a transaction that occurred on Friday, July 15th. The shares were 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 approximately $2,711,170.96. The disclosure for this sale can be found here. Insiders sold 2,800 shares of company stock valued at $1,449,904 over the last 90 days. Insiders own 0.22% of the company’s stock.

Costco Wholesale Trading Down 1.2 %

NASDAQ:COST opened at $487.17 on Friday. Costco Wholesale Co. has a 52 week low of $406.51 and a 52 week high of $612.27. The firm has a 50 day moving average of $529.73 and a 200 day moving average of $519.85. The company has a quick ratio of 0.48, a current ratio of 1.04 and a debt-to-equity ratio of 0.32. The stock has a market capitalization of $215.80 billion, a price-to-earnings ratio of 38.36, a PEG ratio of 3.72 and a beta of 0.70.

Costco Wholesale Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 12th. Investors of record on Friday, July 29th were given a dividend of $0.09 per share. The ex-dividend date of this dividend was Thursday, July 28th. This represents a $0.36 dividend on an annualized basis and a yield of 0.07%. Costco Wholesale’s payout ratio is 28.35%.

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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