Certuity LLC Grows Stake in Costco Wholesale Co. (NASDAQ:COST)

Certuity LLC increased its holdings in shares of Costco Wholesale Co. (NASDAQ:COST) by 8.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,590 shares of the retailer’s stock after purchasing an additional 124 shares during the quarter. Certuity LLC’s holdings in Costco Wholesale were worth $1,351,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Norges Bank acquired a new position in shares of Costco Wholesale in the 4th quarter valued at $3,628,694,000. Global Assets Advisory LLC purchased a new stake in Costco Wholesale in the first quarter valued at $510,353,000. Assenagon Asset Management S.A. boosted its stake in Costco Wholesale by 287.3% in the second quarter. Assenagon Asset Management S.A. now owns 836,247 shares of the retailer’s stock valued at $710,802,000 after acquiring an additional 620,341 shares in the last quarter. Strategic Financial Concepts LLC grew its holdings in shares of Costco Wholesale by 51,747.5% during the second quarter. Strategic Financial Concepts LLC now owns 619,578 shares of the retailer’s stock worth $5,266,000 after purchasing an additional 618,383 shares during the last quarter. Finally, Public Employees Retirement Association of Colorado increased its position in shares of Costco Wholesale by 3,647.1% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 567,641 shares of the retailer’s stock worth $374,688,000 after purchasing an additional 552,492 shares in the last quarter. 68.48% of the stock is owned by institutional investors and hedge funds.

Costco Wholesale Stock Down 1.0 %

COST stock opened at $876.68 on Friday. The company has a current ratio of 0.94, a quick ratio of 0.45 and a debt-to-equity ratio of 0.27. The company’s 50-day moving average price is $857.45 and its 200 day moving average price is $800.19. Costco Wholesale Co. has a 52 week low of $540.23 and a 52 week high of $918.93. The company has a market cap of $388.66 billion, a P/E ratio of 54.32, a P/E/G ratio of 5.98 and a beta of 0.80.

Costco Wholesale Dividend Announcement

The company 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. This represents a $4.64 dividend on an annualized basis and a dividend yield of 0.53%. The ex-dividend date was Friday, July 26th. Costco Wholesale’s dividend payout ratio is currently 28.75%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on COST. Wells Fargo & Company raised their price target on Costco Wholesale from $775.00 to $800.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 11th. Loop Capital raised their target price on shares of Costco Wholesale from $970.00 to $975.00 and gave the stock a “buy” rating in a research report on Friday. DA Davidson reiterated a “neutral” rating and issued a $780.00 price target on shares of Costco Wholesale in a research report on Friday. TD Cowen increased their price target on shares of Costco Wholesale from $850.00 to $925.00 and gave the stock a “buy” rating in a research note on Friday, July 12th. Finally, Truist Financial lifted their price objective on shares of Costco Wholesale from $815.00 to $873.00 and gave the company a “buy” rating in a research note on Friday, May 31st. Seven analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $828.73.

Insider Activity at Costco Wholesale

In other news, insider Daniel M. Hines sold 1,500 shares of the firm’s stock in a transaction on Friday, July 12th. The stock was 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 owns 12,492 shares in the company, valued at $10,545,746.40. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, Director Kenneth D. Denman sold 350 shares of Costco Wholesale stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $851.53, for a total transaction of $298,035.50. Following the completion of the transaction, the director now directly owns 5,920 shares in the company, valued at approximately $5,041,057.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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 sale, the insider now owns 12,492 shares in the company, valued at approximately $10,545,746.40. The disclosure for this sale can be found here. Insiders sold 4,974 shares of company stock valued at $4,252,856 in the last ninety days. Corporate insiders own 0.18% of the company’s stock.

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.