Cornerstone Advisors LLC Decreases Stock Holdings in Costco Wholesale Co. (NASDAQ:COST)

Cornerstone Advisors LLC lessened its stake in Costco Wholesale Co. (NASDAQ:COST) by 0.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 28,800 shares of the retailer’s stock after selling 100 shares during the period. Costco Wholesale accounts for approximately 1.0% of Cornerstone Advisors LLC’s investment portfolio, making the stock its 22nd largest holding. Cornerstone Advisors LLC’s holdings in Costco Wholesale were worth $24,480,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Frank Rimerman Advisors LLC acquired a new position in shares of Costco Wholesale during the fourth quarter valued at about $26,000. Redmont Wealth Advisors LLC acquired a new position in Costco Wholesale in the 1st quarter worth approximately $32,000. Financial Connections Group Inc. boosted its holdings in shares of Costco Wholesale by 557.1% in the 2nd quarter. Financial Connections Group Inc. now owns 46 shares of the retailer’s stock valued at $39,000 after acquiring an additional 39 shares during the last quarter. Vima LLC purchased a new stake in Costco Wholesale in the 4th quarter worth approximately $34,000. Finally, DSM Capital Partners LLC purchased a new position in Costco Wholesale in the fourth quarter valued at $36,000. 68.48% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have commented on COST. DA Davidson reissued a “neutral” rating and issued a $780.00 price objective on shares of Costco Wholesale in a report on Friday, September 6th. BMO Capital Markets boosted their price target on shares of Costco Wholesale from $875.00 to $950.00 and gave the stock an “outperform” rating in a report on Monday, August 12th. Telsey Advisory Group reaffirmed an “outperform” rating and set a $925.00 price objective on shares of Costco Wholesale in a report on Friday, September 6th. Stifel Nicolaus boosted their target price on shares of Costco Wholesale from $910.00 to $915.00 and gave the stock a “buy” rating in a research note on Friday, September 6th. Finally, Evercore ISI upped their price target on shares of Costco Wholesale from $915.00 to $925.00 and gave the stock an “outperform” rating in a research report on Friday, September 6th. Eight investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $844.52.

Insider Transactions at Costco Wholesale

In other Costco Wholesale news, EVP Richard A. Galanti sold 500 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $874.05, for a total value of $437,025.00. Following the completion of the transaction, the executive vice president now owns 22,900 shares of the company’s stock, valued at approximately $20,015,745. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, EVP Richard A. Galanti sold 500 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $874.05, for a total value of $437,025.00. Following the sale, the executive vice president now owns 22,900 shares of the company’s stock, valued at $20,015,745. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, 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 transaction of $298,035.50. Following the transaction, the director now owns 5,920 shares of the company’s stock, valued at approximately $5,041,057.60. The disclosure for this sale can be found here. Insiders sold a total of 4,974 shares of company stock worth $4,252,856 over the last ninety days. Company insiders own 0.18% of the company’s stock.

Costco Wholesale Trading Up 0.1 %

Shares of Costco Wholesale stock opened at $916.00 on Monday. The stock has a 50 day moving average of $861.57 and a 200 day moving average of $806.45. 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 market capitalization of $406.09 billion, a price-to-earnings ratio of 56.75, a PEG ratio of 5.47 and a beta of 0.80. Costco Wholesale Co. has a fifty-two week low of $540.23 and a fifty-two week high of $923.83.

Costco Wholesale Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 9th. Shareholders of record on Friday, July 26th were given a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a dividend yield of 0.51%. The ex-dividend date was Friday, July 26th. Costco Wholesale’s dividend payout ratio is presently 28.75%.

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.