Narwhal Capital Management Decreases Stake in Costco Wholesale Co. (NASDAQ:COST)

Narwhal Capital Management decreased its position in shares of Costco Wholesale Co. (NASDAQ:COST) by 2.0% during the 2nd quarter, Holdings Channel.com reports. The fund owned 8,912 shares of the retailer’s stock after selling 185 shares during the period. Narwhal Capital Management’s holdings in Costco Wholesale were worth $7,575,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of COST. Frank Rimerman Advisors LLC acquired a new stake in shares of Costco Wholesale in the fourth quarter valued at approximately $26,000. Redmont Wealth Advisors LLC acquired a new position in shares of Costco Wholesale in the first quarter worth $32,000. Vima LLC purchased a new stake in shares of Costco Wholesale in the fourth quarter valued at $34,000. DSM Capital Partners LLC acquired a new stake in shares of Costco Wholesale during the fourth quarter valued at $36,000. Finally, Financial Connections Group Inc. increased its position in Costco Wholesale by 557.1% during the 2nd quarter. Financial Connections Group Inc. now owns 46 shares of the retailer’s stock worth $39,000 after purchasing an additional 39 shares in the last quarter. Institutional investors and hedge funds own 68.48% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on COST. Evercore ISI upped their target price on shares of Costco Wholesale from $915.00 to $925.00 and gave the company an “outperform” rating in a report on Friday. TD Cowen raised their target price on shares of Costco Wholesale from $850.00 to $925.00 and gave the stock a “buy” rating in a research report on Friday, July 12th. Barclays boosted their price target on Costco Wholesale from $765.00 to $830.00 and gave the company an “equal weight” rating in a report on Thursday, July 11th. Stifel Nicolaus lifted their price objective on Costco Wholesale from $910.00 to $915.00 and gave the company a “buy” rating in a research report on Friday. Finally, BMO Capital Markets increased their target price on Costco Wholesale from $875.00 to $950.00 and gave the stock an “outperform” rating in a research report on Monday, August 12th. Seven investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $828.73.

Costco Wholesale Stock Performance

Shares of NASDAQ:COST opened at $876.68 on Friday. The business’s 50-day simple moving average is $857.45 and its 200 day simple moving average is $799.68. The company has a market cap of $388.66 billion, a P/E ratio of 54.32, a PEG ratio of 5.98 and a beta of 0.80. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.45 and a current ratio of 0.94. Costco Wholesale Co. has a one year low of $540.23 and a one year high of $918.93.

Costco Wholesale Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 9th. Investors of record on Friday, July 26th were paid a dividend of $1.16 per share. This represents a $4.64 annualized dividend and a yield of 0.53%. The ex-dividend date of this dividend was Friday, July 26th. Costco Wholesale’s dividend payout ratio (DPR) is 28.75%.

Insider Buying and Selling

In other news, Director Susan L. Decker sold 620 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $876.50, for a total transaction of $543,430.00. Following the completion of the sale, the director now directly owns 11,775 shares in the company, valued at $10,320,787.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Daniel M. Hines sold 1,500 shares of Costco Wholesale stock in a transaction on Friday, July 12th. The shares were sold at an average price of $844.20, for a total value of $1,266,300.00. Following the completion of the sale, the insider now owns 12,492 shares in the company, valued at $10,545,746.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Susan L. Decker sold 620 shares of the stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $876.50, for a total transaction of $543,430.00. Following the transaction, the director now owns 11,775 shares in the company, valued at $10,320,787.50. The disclosure for this sale can be found here. Insiders have sold 4,974 shares of company stock valued at $4,252,856 in the last quarter. Company insiders own 0.18% of the company’s stock.

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.