Contravisory Investment Management Inc. Increases Stake in Costco Wholesale Corporation $COST

Contravisory Investment Management Inc. boosted its holdings in shares of Costco Wholesale Corporation (NASDAQ:COST) by 1.1% in the second quarter, Holdings Channel.com reports. The fund owned 10,937 shares of the retailer’s stock after buying an additional 114 shares during the quarter. Costco Wholesale comprises 2.1% of Contravisory Investment Management Inc.’s holdings, making the stock its 9th largest holding. Contravisory Investment Management Inc.’s holdings in Costco Wholesale were worth $10,827,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. Brighton Jones LLC lifted its stake in Costco Wholesale by 12.3% in the fourth quarter. Brighton Jones LLC now owns 19,825 shares of the retailer’s stock valued at $18,165,000 after buying an additional 2,172 shares during the period. Revolve Wealth Partners LLC increased its stake in shares of Costco Wholesale by 13.1% in the 4th quarter. Revolve Wealth Partners LLC now owns 1,123 shares of the retailer’s stock valued at $1,029,000 after acquiring an additional 130 shares during the last quarter. Bank Pictet & Cie Europe AG raised its position in shares of Costco Wholesale by 45.0% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 117,254 shares of the retailer’s stock valued at $107,436,000 after acquiring an additional 36,384 shares during the period. Highview Capital Management LLC DE boosted its stake in Costco Wholesale by 0.8% during the 4th quarter. Highview Capital Management LLC DE now owns 4,813 shares of the retailer’s stock worth $4,410,000 after acquiring an additional 40 shares during the last quarter. Finally, Novem Group acquired a new position in Costco Wholesale during the fourth quarter valued at approximately $619,000. Institutional investors and hedge funds own 68.48% of the company’s stock.

Insider Buying and Selling at Costco Wholesale

In other Costco Wholesale news, EVP Teresa A. Jones sold 600 shares of the business’s stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $992.05, for a total transaction of $595,230.00. Following the transaction, the executive vice president owned 2,362 shares of the company’s stock, valued at $2,343,222.10. The trade was a 20.26% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Yoram Rubanenko sold 4,000 shares of the business’s stock in a transaction on Monday, July 14th. The stock was sold at an average price of $974.96, for a total transaction of $3,899,840.00. Following the transaction, the executive vice president owned 5,774 shares in the company, valued at approximately $5,629,419.04. The trade was a 40.92% 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 insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on COST. Telsey Advisory Group reissued an “outperform” rating and set a $1,100.00 price target on shares of Costco Wholesale in a research report on Wednesday, August 27th. Wolfe Research began coverage on Costco Wholesale in a research note on Thursday. They issued a “peer perform” rating for the company. Erste Group Bank downgraded Costco Wholesale from a “buy” rating to a “hold” rating in a report on Tuesday, August 5th. Loop Capital dropped their price target on Costco Wholesale from $1,115.00 to $1,110.00 and set a “buy” rating on the stock in a research report on Thursday, May 29th. Finally, Stifel Nicolaus set a $1,035.00 price objective on Costco Wholesale in a research report on Thursday, May 29th. Seventeen analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $1,056.67.

Costco Wholesale Trading Down 1.1%

NASDAQ:COST opened at $952.36 on Friday. The company has a market cap of $422.35 billion, a P/E ratio of 54.02, a price-to-earnings-growth ratio of 5.42 and a beta of 0.97. Costco Wholesale Corporation has a twelve month low of $867.16 and a twelve month high of $1,078.23. The business has a 50 day moving average price of $958.35 and a two-hundred day moving average price of $972.82. The company has a quick ratio of 0.52, a current ratio of 1.02 and a debt-to-equity ratio of 0.21.

Costco Wholesale Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Friday, August 1st were given a $1.30 dividend. The ex-dividend date of this dividend was Friday, August 1st. This represents a $5.20 dividend on an annualized basis and a yield of 0.5%. Costco Wholesale’s dividend payout ratio (DPR) is 29.50%.

Costco Wholesale Company Profile

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.