Athena Investment Management Makes New Investment in Costco Wholesale Co. (NASDAQ:COST)

Athena Investment Management purchased a new position in shares of Costco Wholesale Co. (NASDAQ:COST) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 240 shares of the retailer’s stock, valued at approximately $204,000.

Several other hedge funds and other institutional investors have also made changes to their positions in COST. Gilbert & Cook Inc. lifted its holdings in Costco Wholesale by 57.3% during the 4th quarter. Gilbert & Cook Inc. now owns 626 shares of the retailer’s stock worth $413,000 after buying an additional 228 shares during the last quarter. Aveo Capital Partners LLC lifted its stake in Costco Wholesale by 14.5% during the fourth quarter. Aveo Capital Partners LLC now owns 1,065 shares of the retailer’s stock worth $703,000 after purchasing an additional 135 shares during the last quarter. Gryphon Financial Partners LLC boosted its holdings in Costco Wholesale by 62.6% in the fourth quarter. Gryphon Financial Partners LLC now owns 3,309 shares of the retailer’s stock valued at $2,184,000 after purchasing an additional 1,274 shares in the last quarter. M&G Investment Management Ltd. increased its stake in Costco Wholesale by 0.4% in the fourth quarter. M&G Investment Management Ltd. now owns 19,086 shares of the retailer’s stock valued at $12,597,000 after purchasing an additional 84 shares during the last quarter. Finally, Vise Technologies Inc. raised its holdings in Costco Wholesale by 12.2% during the fourth quarter. Vise Technologies Inc. now owns 1,739 shares of the retailer’s stock worth $1,148,000 after purchasing an additional 189 shares in the last quarter. Hedge funds and other institutional investors own 68.48% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on COST. Wells Fargo & Company increased 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 report on Thursday, July 11th. TD Cowen lifted their target price on Costco Wholesale from $850.00 to $925.00 and gave the stock a “buy” rating in a research report on Friday, July 12th. Citigroup upped their target price on Costco Wholesale from $710.00 to $800.00 and gave the company a “neutral” rating in a research report on Friday, May 31st. Roth Mkm reaffirmed a “neutral” rating and set a $676.00 price target (up previously from $650.00) on shares of Costco Wholesale in a research report on Friday, May 31st. Finally, Gordon Haskett raised Costco Wholesale from an “accumulate” rating to a “buy” rating and set a $925.00 price objective for the company in a report on Thursday, August 8th. Eight investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $844.52.

Insider Activity at Costco Wholesale

In related news, insider Daniel M. Hines sold 1,500 shares of the business’s stock in a transaction dated 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 owns 12,492 shares of the company’s stock, valued at approximately $10,545,746.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Daniel M. Hines sold 1,500 shares of the business’s stock in a transaction that occurred 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 owns 12,492 shares of the company’s stock, valued at $10,545,746.40. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 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 approximately $10,320,787.50. The disclosure for this sale can be found here. Insiders have sold a total of 4,974 shares of company stock valued at $4,252,856 over the last quarter. Insiders own 0.18% of the company’s stock.

Costco Wholesale Stock Performance

Shares of COST opened at $894.29 on Wednesday. The company has a 50-day moving average of $859.16 and a two-hundred day moving average of $802.98. The stock has a market cap of $396.47 billion, a P/E ratio of 55.41, a PEG ratio of 5.33 and a beta of 0.80. Costco Wholesale Co. has a 12-month low of $540.23 and a 12-month high of $918.93. The company has a current ratio of 0.94, a quick ratio of 0.45 and a debt-to-equity ratio of 0.27.

Costco Wholesale Announces Dividend

The business also recently disclosed 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 0.52%. Costco Wholesale’s dividend payout ratio is currently 28.75%.

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.