Rampart Investment Management Company LLC trimmed its holdings in shares of Costco Wholesale Co. (NASDAQ:COST) by 10.0% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 15,184 shares of the retailer’s stock after selling 1,686 shares during the period. Rampart Investment Management Company LLC’s holdings in Costco Wholesale were worth $4,013,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also modified their holdings of the business. FMR LLC boosted its stake in Costco Wholesale by 5.0% during the 1st quarter. FMR LLC now owns 10,924,782 shares of the retailer’s stock valued at $2,645,326,000 after purchasing an additional 518,843 shares during the last quarter. Northern Trust Corp boosted its stake in Costco Wholesale by 1.0% during the 2nd quarter. Northern Trust Corp now owns 6,379,195 shares of the retailer’s stock valued at $1,685,767,000 after purchasing an additional 60,035 shares during the last quarter. Janus Henderson Group PLC boosted its stake in Costco Wholesale by 4.9% during the 1st quarter. Janus Henderson Group PLC now owns 2,972,809 shares of the retailer’s stock valued at $719,849,000 after purchasing an additional 137,549 shares during the last quarter. Fisher Asset Management LLC boosted its stake in Costco Wholesale by 3.4% during the 2nd quarter. Fisher Asset Management LLC now owns 2,938,564 shares of the retailer’s stock valued at $776,545,000 after purchasing an additional 97,798 shares during the last quarter. Finally, Clearbridge Investments LLC boosted its stake in Costco Wholesale by 11.5% during the 1st quarter. Clearbridge Investments LLC now owns 2,409,355 shares of the retailer’s stock valued at $583,401,000 after purchasing an additional 249,464 shares during the last quarter. Institutional investors and hedge funds own 71.08% of the company’s stock.
Costco Wholesale stock traded down $3.24 during trading on Monday, reaching $288.66. The company had a trading volume of 87,031 shares, compared to its average volume of 2,405,176. Costco Wholesale Co. has a 52 week low of $189.51 and a 52 week high of $307.34. The firm’s 50-day simple moving average is $282.20 and its 200 day simple moving average is $257.24. The firm has a market capitalization of $127.49 billion, a price-to-earnings ratio of 42.26, a price-to-earnings-growth ratio of 3.84 and a beta of 0.93. The company has a current ratio of 0.98, a quick ratio of 0.48 and a debt-to-equity ratio of 0.32.
The business also recently announced a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were issued a $0.65 dividend. The ex-dividend date was Thursday, August 29th. This represents a $2.60 dividend on an annualized basis and a yield of 0.90%. Costco Wholesale’s dividend payout ratio is currently 38.07%.
Several equities analysts have recently weighed in on COST shares. Tigress Financial reissued a “buy” rating on shares of Costco Wholesale in a report on Friday, June 28th. Guggenheim reissued a “hold” rating on shares of Costco Wholesale in a report on Friday, September 6th. JPMorgan Chase & Co. increased their price target on Costco Wholesale from $271.00 to $330.00 and gave the company an “overweight” rating in a report on Monday, September 9th. BidaskClub cut Costco Wholesale from a “strong-buy” rating to a “buy” rating in a report on Thursday. Finally, Wells Fargo & Co increased their price target on Costco Wholesale from $240.00 to $290.00 and gave the company a “market perform” rating in a report on Friday, September 6th. Nine equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $283.72.
In related news, VP James P. Murphy sold 10,000 shares of the firm’s stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $265.85, for a total value of $2,658,500.00. Following the transaction, the vice president now directly owns 45,100 shares of the company’s stock, valued at approximately $11,989,835. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Susan L. Decker sold 1,646 shares of the firm’s stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $268.25, for a total value of $441,539.50. Following the completion of the transaction, the director now directly owns 41,803 shares in the company, valued at $11,213,654.75. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 18,346 shares of company stock worth $4,888,035. 0.21% of the stock is owned by insiders.
Costco Wholesale Company Profile
Costco Wholesale Corporation, together with its subsidiaries, operates membership warehouses. It offers branded and private-label products in a range of merchandise categories. The company provides dry and packaged foods, and groceries; snack foods, candies, alcoholic and nonalcoholic beverages, and cleaning supplies; appliances, electronics, health and beauty aids, hardware, and garden and patio products; meat, bakery, deli, and produces; and apparel and small appliances.
See Also: Hedge Funds
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