Costco Wholesale Co. (NASDAQ:COST) Holdings Decreased by Prestige Wealth Management Group LLC

Prestige Wealth Management Group LLC lessened its stake in Costco Wholesale Co. (NASDAQ:COST) by 5.3% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,608 shares of the retailer’s stock after selling 145 shares during the period. Prestige Wealth Management Group LLC’s holdings in Costco Wholesale were worth $2,217,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Frank Rimerman Advisors LLC acquired a new position in Costco Wholesale during the fourth quarter worth about $26,000. Redmont Wealth Advisors LLC acquired a new position in shares of Costco Wholesale in the 1st quarter valued at $32,000. Vima LLC purchased a new position in Costco Wholesale in the 4th quarter worth about $34,000. DSM Capital Partners LLC acquired a new stake in Costco Wholesale during the 4th quarter worth about $36,000. Finally, Financial Connections Group Inc. lifted its stake in Costco Wholesale by 557.1% during the second quarter. Financial Connections Group Inc. now owns 46 shares of the retailer’s stock valued at $39,000 after buying an additional 39 shares in the last quarter. Institutional investors and hedge funds own 68.48% of the company’s stock.

Insider Buying and Selling

In other news, Director Kenneth D. Denman sold 350 shares of the business’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $851.53, for a total value of $298,035.50. Following the completion of the transaction, the director now owns 5,920 shares of the company’s stock, valued at approximately $5,041,057.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, Director Kenneth D. Denman sold 350 shares of the business’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $851.53, for a total value 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 through the SEC website. Also, Director Susan L. Decker sold 620 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $876.50, for a total transaction of $543,430.00. Following the sale, 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 sold a total of 4,974 shares of company stock valued at $4,252,856 over the last three months. Company insiders own 0.18% of the company’s stock.

Costco Wholesale Trading Down 1.0 %

Shares of NASDAQ:COST traded down $9.30 during trading on Friday, hitting $876.68. 2,074,604 shares of the company’s stock were exchanged, compared to its average volume of 1,959,834. 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 firm 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 firm has a 50-day moving average price of $857.45 and a two-hundred day moving average price of $800.19. Costco Wholesale Co. has a 1-year low of $540.23 and a 1-year high of $918.93.

Costco Wholesale Announces Dividend

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

Analyst Upgrades and Downgrades

COST has been the topic of several recent analyst reports. Stifel Nicolaus boosted their target price on shares of Costco Wholesale from $910.00 to $915.00 and gave the company a “buy” rating in a research note on Friday. Loop Capital increased their price objective on Costco Wholesale from $970.00 to $975.00 and gave the stock a “buy” rating in a research note on Friday. Citigroup raised their price objective on Costco Wholesale from $710.00 to $800.00 and gave the stock a “neutral” rating in a research report on Friday, May 31st. Bank of America upped their target price on Costco Wholesale from $874.00 to $962.00 and gave the company a “buy” rating in a report on Thursday, July 11th. Finally, StockNews.com upgraded shares of Costco Wholesale from a “hold” rating to a “buy” rating in a report on Friday. Seven equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $828.73.

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.