Nvest Financial LLC Sells 65 Shares of Costco Wholesale Co. (NASDAQ:COST)

Nvest Financial LLC lessened its stake in shares of Costco Wholesale Co. (NASDAQ:COSTGet Rating) by 8.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 668 shares of the retailer’s stock after selling 65 shares during the quarter. Nvest Financial LLC’s holdings in Costco Wholesale were worth $320,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in COST. Norges Bank bought a new position in Costco Wholesale in the fourth quarter worth approximately $2,323,746,000. State Street Corp raised its position in shares of Costco Wholesale by 10.2% during 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. lifted its holdings in shares of Costco Wholesale by 3.1% in the 4th 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 in the last quarter. Vanguard Group Inc. grew its position in Costco Wholesale by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 38,028,886 shares of the retailer’s stock valued at $21,898,934,000 after purchasing an additional 467,631 shares during the period. Finally, Winslow Capital Management LLC acquired a new stake in Costco Wholesale in the 1st quarter valued at $242,940,000. 66.83% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. StockNews.com raised shares of Costco Wholesale from a “hold” rating to a “buy” rating in a research note on Friday, July 15th. Telsey Advisory Group dropped their price target on shares of Costco Wholesale from $615.00 to $590.00 and set an “outperform” rating on the stock in a research report on Friday, May 27th. Oppenheimer boosted their price objective on Costco Wholesale from $535.00 to $600.00 in a report on Thursday, August 4th. Truist Financial increased their price objective on Costco Wholesale from $543.00 to $571.00 in a research note on Thursday, August 4th. Finally, Credit Suisse Group cut their target price on Costco Wholesale from $570.00 to $550.00 and set a “neutral” rating on the stock in a research report on Friday, May 27th. Four research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $575.36.

Insider Buying and Selling at Costco Wholesale

In related 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 value of $787,800.00. Following the completion of the transaction, the vice president now directly owns 36,230 shares of the company’s stock, valued at approximately $19,027,996. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other 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 completion of the transaction, the chief financial officer now directly owns 25,750 shares in the company, valued at $13,019,200. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP James P. Murphy sold 1,500 shares of the company’s stock in a transaction that occurred on Wednesday, July 20th. The stock was sold at an average price of $525.20, for a total transaction of $787,800.00. Following the sale, the vice president now directly owns 36,230 shares in the company, valued at approximately $19,027,996. The disclosure for this sale can be found here. Insiders have sold a total of 2,800 shares of company stock valued at $1,449,904 over the last three months. 0.22% of the stock is currently owned by insiders.

Costco Wholesale Stock Performance

NASDAQ:COST 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 debt-to-equity ratio of 0.32, a current ratio of 1.04 and a quick ratio of 0.48. The business has a fifty day simple moving average of $529.73 and a two-hundred day simple moving average of $519.85. The company has a market capitalization of $215.80 billion, a P/E ratio of 38.36, a P/E/G ratio of 3.72 and a beta of 0.70.

Costco Wholesale Cuts Dividend

The company also recently disclosed 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 dividend payout ratio is currently 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.

See Also

Want to see what other hedge funds are holding COST? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Costco Wholesale Co. (NASDAQ:COSTGet Rating).

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

Receive News & Ratings for Costco Wholesale Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Costco Wholesale and related companies with MarketBeat.com's FREE daily email newsletter.