Spectrum Asset Management Inc. NB CA Sells 502 Shares of Costco Wholesale Co. (NASDAQ:COST)

Spectrum Asset Management Inc. NB CA lessened its stake in Costco Wholesale Co. (NASDAQ:COSTGet Rating) by 19.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,110 shares of the retailer’s stock after selling 502 shares during the quarter. Spectrum Asset Management Inc. NB CA’s holdings in Costco Wholesale were worth $1,011,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of COST. Norges Bank bought a new stake in Costco Wholesale during the 4th quarter valued at $2,323,746,000. State Street Corp increased its holdings in shares of Costco Wholesale by 10.2% in the fourth quarter. State Street Corp now owns 18,301,225 shares of the retailer’s stock worth $10,389,605,000 after purchasing an additional 1,697,920 shares during the period. BlackRock Inc. increased its holdings in shares of Costco Wholesale by 3.1% in the fourth quarter. BlackRock Inc. now owns 31,078,322 shares of the retailer’s stock worth $17,643,166,000 after purchasing an additional 944,199 shares during the period. Vanguard Group Inc. increased its holdings in shares of Costco Wholesale by 1.2% in the first quarter. Vanguard Group Inc. now owns 38,028,886 shares of the retailer’s stock worth $21,898,934,000 after purchasing an additional 467,631 shares during the period. Finally, Winslow Capital Management LLC bought a new position in shares of Costco Wholesale in the first quarter worth $242,940,000. Institutional investors own 66.83% of the company’s stock.

Insider Buying and Selling

In other Costco Wholesale news, VP James P. Murphy sold 1,500 shares of the firm’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 completion of the transaction, the vice president now owns 36,230 shares of the company’s stock, valued at $19,027,996. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Costco Wholesale news, VP James P. Murphy sold 1,500 shares of the firm’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 completion of the transaction, the vice president now owns 36,230 shares of the company’s stock, valued at $19,027,996. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kenneth D. Denman sold 300 shares of the firm’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 directly owns 5,197 shares of the company’s stock, valued at approximately $2,711,170.96. The disclosure for this sale can be found here. Insiders sold a total of 2,800 shares of company stock valued at $1,449,904 over the last three months. Corporate insiders own 0.22% of the company’s stock.

Costco Wholesale Price Performance

COST stock opened at $487.17 on Friday. Costco Wholesale Co. has a 1 year low of $406.51 and a 1 year high of $612.27. The company has a market cap of $215.80 billion, a P/E ratio of 38.36, a PEG ratio of 3.72 and a beta of 0.70. The firm has a 50-day moving average of $529.73 and a 200 day moving average of $519.85. 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. Investors of record on Friday, July 29th were paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 0.07%. The ex-dividend date of this dividend was Thursday, July 28th. Costco Wholesale’s payout ratio is currently 28.35%.

Analyst Ratings Changes

COST has been the topic of several research analyst reports. Jefferies Financial Group reaffirmed a “buy” rating and issued a $580.00 price target on shares of Costco Wholesale in a report on Friday, July 29th. Telsey Advisory Group cut their target price on shares of Costco Wholesale from $615.00 to $590.00 and set an “outperform” rating for the company in a research report on Friday, May 27th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Costco Wholesale from $579.00 to $581.00 and gave the stock a “buy” rating in a research report on Wednesday. Credit Suisse Group cut their target price on shares of Costco Wholesale from $570.00 to $550.00 and set a “neutral” rating for the company in a research report on Friday, May 27th. Finally, The Goldman Sachs Group upped their target price on shares of Costco Wholesale from $516.00 to $573.00 and gave the stock a “buy” rating in a research report on Thursday, August 4th. Four research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $575.36.

About Costco Wholesale

(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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