Costco Wholesale Co. (NASDAQ:COST) Stake Decreased by IMS Capital Management

IMS Capital Management lessened its holdings in shares of Costco Wholesale Co. (NASDAQ:COSTGet Rating) by 3.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,350 shares of the retailer’s stock after selling 50 shares during the period. IMS Capital Management’s holdings in Costco Wholesale were worth $647,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Contravisory Investment Management Inc. bought a new stake in shares of Costco Wholesale during the first quarter valued at approximately $26,000. Comprehensive Financial Consultants Institutional Inc. bought a new stake in Costco Wholesale during the fourth quarter worth approximately $30,000. Lansing Street Advisors bought a new stake in Costco Wholesale during the first quarter worth approximately $41,000. Mystic Asset Management Inc. bought a new stake in Costco Wholesale during the fourth quarter worth approximately $40,000. Finally, Cordant Inc. bought a new stake in Costco Wholesale during the first quarter worth approximately $47,000. Institutional investors own 66.83% of the company’s stock.

Wall Street Analysts Forecast Growth

COST has been the topic of several recent analyst reports. The Goldman Sachs Group boosted their target price on Costco Wholesale from $516.00 to $573.00 and gave the stock a “buy” rating in a report on Thursday, August 4th. Truist Financial boosted their target price on Costco Wholesale from $543.00 to $571.00 in a report on Thursday, August 4th. Evercore ISI upped their price target on Costco Wholesale to $585.00 in a report on Tuesday, September 6th. BMO Capital Markets reaffirmed a “buy” rating and issued a $580.00 price target on shares of Costco Wholesale in a report on Monday, May 30th. Finally, Citigroup upped their price target on Costco Wholesale from $510.00 to $545.00 in a report on Thursday, August 4th. Four equities research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $575.36.

Costco Wholesale Trading Down 1.2 %

Shares of NASDAQ:COST opened at $487.17 on Friday. The stock has a market capitalization of $215.80 billion, a PE ratio of 38.36, a P/E/G ratio of 3.72 and a beta of 0.70. Costco Wholesale Co. has a 1 year low of $406.51 and a 1 year high of $612.27. The firm has a fifty day moving average price of $529.73 and a 200 day moving average price of $519.85. The company has a current ratio of 1.04, a quick ratio of 0.48 and a debt-to-equity ratio of 0.32.

Costco Wholesale Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 12th. Investors of record on Friday, July 29th were issued 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 presently 28.35%.

Insider Buying and Selling

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