Graypoint LLC Has $2.95 Million Stake in Costco Wholesale Co. (NASDAQ:COST)

Graypoint LLC lowered its position in Costco Wholesale Co. (NASDAQ:COST) by 0.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,219 shares of the retailer’s stock after selling 24 shares during the period. Graypoint LLC’s holdings in Costco Wholesale were worth $2,950,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. RPg Family Wealth Advisory LLC bought a new position in Costco Wholesale in the 3rd quarter worth $29,000. Fairway Wealth LLC boosted its stake in Costco Wholesale by 230.0% during the 2nd quarter. Fairway Wealth LLC now owns 66 shares of the retailer’s stock valued at $56,000 after purchasing an additional 46 shares during the period. Mowery & Schoenfeld Wealth Management LLC bought a new position in Costco Wholesale in the 3rd quarter worth approximately $58,000. Christopher J. Hasenberg Inc boosted its position in shares of Costco Wholesale by 329.4% in the third quarter. Christopher J. Hasenberg Inc now owns 73 shares of the retailer’s stock valued at $65,000 after acquiring an additional 56 shares during the period. Finally, VitalStone Financial LLC acquired a new stake in shares of Costco Wholesale in the third quarter worth $71,000. Institutional investors own 68.48% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on COST. Wells Fargo & Company increased their price target on shares of Costco Wholesale from $950.00 to $1,000.00 and gave the company an “equal weight” rating in a report on Friday, December 13th. Sanford C. Bernstein initiated coverage on shares of Costco Wholesale in a research report on Tuesday, October 22nd. They set an “outperform” rating and a $1,016.00 target price on the stock. UBS Group increased their price target on shares of Costco Wholesale from $840.00 to $1,040.00 and gave the stock a “buy” rating in a research report on Thursday, December 12th. Evercore ISI lifted their price objective on Costco Wholesale from $1,019.00 to $1,020.00 and gave the company an “overweight” rating in a report on Thursday, December 12th. Finally, Stifel Nicolaus increased their target price on Costco Wholesale from $935.00 to $1,000.00 and gave the stock a “buy” rating in a report on Thursday, December 5th. Nine investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $1,013.59.

Insider Activity at Costco Wholesale

In related news, EVP Pierre Riel sold 2,000 shares of Costco Wholesale stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $896.71, for a total value of $1,793,420.00. Following the sale, the executive vice president now owns 10,210 shares of the company’s stock, valued at approximately $9,155,409.10. This trade represents a 16.38 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Richard A. Galanti sold 1,416 shares of the business’s stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $894.68, for a total transaction of $1,266,866.88. Following the sale, the executive vice president now directly owns 27,400 shares in the company, valued at $24,514,232. This trade represents a 4.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.18% of the stock is currently owned by corporate insiders.

Costco Wholesale Trading Up 1.0 %

Shares of NASDAQ:COST traded up $9.57 during midday trading on Friday, hitting $936.94. The company had a trading volume of 2,720,955 shares, compared to its average volume of 1,949,618. The firm has a fifty day simple moving average of $946.73 and a 200 day simple moving average of $897.99. The stock has a market cap of $415.91 billion, a price-to-earnings ratio of 55.02, a PEG ratio of 6.02 and a beta of 0.84. The company has a current ratio of 0.97, a quick ratio of 0.44 and a debt-to-equity ratio of 0.25. Costco Wholesale Co. has a 12 month low of $667.64 and a 12 month high of $1,008.25.

Costco Wholesale Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 1st were paid a $1.16 dividend. The ex-dividend date of this dividend was Friday, November 1st. This represents a $4.64 dividend on an annualized basis and a dividend yield of 0.50%. Costco Wholesale’s dividend payout ratio (DPR) is presently 27.25%.

About Costco Wholesale

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.