Birch Hill Investment Advisors LLC Has $28.06 Million Position in Costco Wholesale Co. (NASDAQ:COST)

Birch Hill Investment Advisors LLC reduced its holdings in Costco Wholesale Co. (NASDAQ:COSTGet Rating) by 4.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 58,551 shares of the retailer’s stock after selling 3,030 shares during the period. Costco Wholesale makes up about 1.8% of Birch Hill Investment Advisors LLC’s investment portfolio, making the stock its 23rd biggest position. Birch Hill Investment Advisors LLC’s holdings in Costco Wholesale were worth $28,062,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Gotham Asset Management LLC raised its holdings in Costco Wholesale by 14.0% in the fourth quarter. Gotham Asset Management LLC now owns 5,611 shares of the retailer’s stock worth $3,185,000 after purchasing an additional 690 shares during the period. Gordian Capital Singapore Pte Ltd acquired a new stake in Costco Wholesale in the fourth quarter worth $142,000. Stewart Asset Management LLC raised its holdings in Costco Wholesale by 631.1% in the fourth quarter. Stewart Asset Management LLC now owns 121,185 shares of the retailer’s stock worth $2,303,000 after purchasing an additional 104,609 shares during the period. IHT Wealth Management LLC raised its holdings in Costco Wholesale by 1.1% in the fourth quarter. IHT Wealth Management LLC now owns 6,489 shares of the retailer’s stock worth $3,684,000 after purchasing an additional 73 shares during the period. Finally, Banco de Sabadell S.A raised its holdings in Costco Wholesale by 0.8% in the fourth quarter. Banco de Sabadell S.A now owns 5,868 shares of the retailer’s stock worth $3,334,000 after purchasing an additional 44 shares during the period. 66.83% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Truist Financial raised their price objective on shares of Costco Wholesale from $543.00 to $571.00 in a report on Thursday, August 4th. Oppenheimer raised their price objective on shares of Costco Wholesale from $535.00 to $600.00 in a report on Thursday, August 4th. Evercore ISI raised their price objective on shares of Costco Wholesale to $585.00 in a report on Tuesday, September 6th. Citigroup raised their price objective on shares of Costco Wholesale from $510.00 to $545.00 in a report on Thursday, August 4th. Finally, Loop Capital decreased their target price on shares of Costco Wholesale from $610.00 to $585.00 in a research report on Thursday, September 1st. Four analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $575.36.

Costco Wholesale Stock Performance

Shares of COST stock opened at $487.17 on Friday. The company 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. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.48 and a current ratio of 1.04. The company has a 50-day simple moving average of $529.73 and a 200 day simple moving average of $519.85. Costco Wholesale Co. has a 52 week low of $406.51 and a 52 week high of $612.27.

Costco Wholesale Cuts Dividend

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

Insider Buying and Selling

In other Costco Wholesale 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 value of $505,600.00. Following the completion of the sale, the chief financial officer now owns 25,750 shares in the company, valued at approximately $13,019,200. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Costco Wholesale news, Director Kenneth D. Denman sold 300 shares of Costco Wholesale stock in a transaction dated Friday, July 15th. The shares were sold at an average price of $521.68, for a total value of $156,504.00. Following the completion of the sale, the director now owns 5,197 shares in the company, valued at approximately $2,711,170.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Richard A. Galanti sold 1,000 shares of Costco Wholesale stock in a transaction dated Thursday, July 14th. The stock was sold at an average price of $505.60, for a total transaction of $505,600.00. Following the completion of the sale, the chief financial officer now owns 25,750 shares of the company’s stock, valued at approximately $13,019,200. The disclosure for this sale can be found here. In the last 90 days, insiders sold 2,800 shares of company stock valued at $1,449,904. Company insiders own 0.22% of the company’s stock.

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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