Ausdal Financial Partners Inc. Increases Stake in Costco Wholesale Co. (NASDAQ:COST)

Ausdal Financial Partners Inc. increased its holdings in Costco Wholesale Co. (NASDAQ:COST) by 14.0% in the second quarter, Holdings Channel reports. The fund owned 2,618 shares of the retailer’s stock after purchasing an additional 321 shares during the quarter. Ausdal Financial Partners Inc.’s holdings in Costco Wholesale were worth $2,226,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Frank Rimerman Advisors LLC bought a new position in shares of Costco Wholesale during the fourth quarter valued at approximately $26,000. Redmont Wealth Advisors LLC bought a new stake in Costco Wholesale during the 1st quarter valued at $32,000. Vima LLC purchased a new position in shares of Costco Wholesale in the 4th quarter valued at $34,000. DSM Capital Partners LLC bought a new position in shares of Costco Wholesale in the 4th quarter worth $36,000. Finally, Financial Connections Group Inc. lifted its stake in shares of 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 during the last quarter. 68.48% of the stock is currently owned by institutional investors.

Costco Wholesale Stock Performance

Shares of COST traded down $9.30 during trading hours on Friday, hitting $876.68. The stock had a trading volume of 2,074,604 shares, compared to its average volume of 1,959,834. The firm has a market capitalization of $388.66 billion, a price-to-earnings 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. The firm has a 50-day moving average price of $857.45 and a 200 day moving average price of $800.19. Costco Wholesale Co. has a fifty-two week low of $540.23 and a fifty-two week high of $918.93.

Costco Wholesale Announces Dividend

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

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. Gordon Haskett upgraded Costco Wholesale from an “accumulate” rating to a “buy” rating and set a $925.00 target price on the stock in a research note on Thursday, August 8th. Tigress Financial boosted their price objective on shares of Costco Wholesale from $870.00 to $975.00 and gave the stock a “buy” rating in a research note on Tuesday, June 25th. Wells Fargo & Company raised their target price on shares of Costco Wholesale from $775.00 to $800.00 and gave the company an “equal weight” rating in a research note on Thursday, July 11th. Citigroup lifted their price target on shares of Costco Wholesale from $710.00 to $800.00 and gave the stock a “neutral” rating in a report on Friday, May 31st. Finally, Loop Capital increased their price objective on Costco Wholesale from $970.00 to $975.00 and gave the company a “buy” rating in a report on Friday. Seven investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $828.73.

Insiders Place Their Bets

In related news, insider Daniel M. Hines sold 1,500 shares of the business’s 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 of the company’s stock, valued at approximately $10,545,746.40. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, EVP Richard A. Galanti sold 500 shares of Costco Wholesale stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $874.05, for a total value of $437,025.00. Following the sale, the executive vice president now directly owns 22,900 shares of the company’s stock, valued at $20,015,745. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Daniel M. Hines sold 1,500 shares of the 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 transaction, the insider now directly owns 12,492 shares of the company’s stock, valued at $10,545,746.40. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 4,974 shares of company stock worth $4,252,856. 0.18% of the stock is owned by corporate insiders.

Costco Wholesale 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.