ProVise Management Group LLC Acquires Shares of 294 Costco Wholesale Co. (NASDAQ:COST)

ProVise Management Group LLC acquired a new stake in shares of Costco Wholesale Co. (NASDAQ:COST) in the second quarter, Holdings Channel reports. The fund acquired 294 shares of the retailer’s stock, valued at approximately $250,000.

Other hedge funds also recently bought and sold shares of the company. Strong Tower Advisory Services increased its holdings in Costco Wholesale by 7.9% in the first quarter. Strong Tower Advisory Services now owns 1,867 shares of the retailer’s stock worth $1,346,000 after buying an additional 137 shares during the last quarter. J.W. Cole Advisors Inc. boosted its stake in Costco Wholesale by 52.1% during the second quarter. J.W. Cole Advisors Inc. now owns 7,645 shares of the retailer’s stock worth $6,499,000 after buying an additional 2,620 shares in the last quarter. Main Street Financial Solutions LLC boosted its stake in Costco Wholesale by 22.8% during the second quarter. Main Street Financial Solutions LLC now owns 3,533 shares of the retailer’s stock worth $3,003,000 after buying an additional 656 shares in the last quarter. Parcion Private Wealth LLC boosted its stake in shares of Costco Wholesale by 30.8% in the 2nd quarter. Parcion Private Wealth LLC now owns 5,596 shares of the retailer’s stock valued at $4,757,000 after purchasing an additional 1,319 shares in the last quarter. Finally, Aspiriant LLC boosted its stake in shares of Costco Wholesale by 6.1% in the 1st quarter. Aspiriant LLC now owns 2,327 shares of the retailer’s stock valued at $1,705,000 after purchasing an additional 134 shares in the last quarter. 68.48% of the stock is owned by hedge funds and other institutional investors.

Costco Wholesale Stock Up 0.7 %

COST opened at $906.98 on Friday. Costco Wholesale Co. has a 1-year low of $540.23 and a 1-year high of $923.83. The stock’s fifty day simple moving average is $864.85 and its 200 day simple moving average is $810.90. 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 stock has a market cap of $402.10 billion, a PE ratio of 56.19, a price-to-earnings-growth ratio of 5.51 and a beta of 0.80.

Costco Wholesale Announces Dividend

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

Analysts Set New Price Targets

COST has been the topic of several recent analyst reports. Loop Capital boosted their target price on shares of Costco Wholesale from $970.00 to $975.00 and gave the company a “buy” rating in a research note on Friday, September 6th. Wells Fargo & Company boosted their price objective on Costco Wholesale from $775.00 to $800.00 and gave the stock an “equal weight” rating in a report on Thursday, July 11th. Barclays upped their price target on Costco Wholesale from $765.00 to $830.00 and gave the company an “equal weight” rating in a research note on Thursday, July 11th. Roth Mkm reissued a “neutral” rating and set a $676.00 target price (up from $650.00) on shares of Costco Wholesale in a research note on Friday, May 31st. Finally, Robert W. Baird increased their target price on Costco Wholesale from $850.00 to $975.00 and gave the stock an “outperform” rating in a research note on Thursday, July 11th. Eight 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.com, Costco Wholesale currently has a consensus rating of “Moderate Buy” and an average target price of $844.52.

Insider Activity at Costco Wholesale

In related news, Director Susan L. Decker sold 620 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $876.50, for a total value 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Costco Wholesale news, Director Susan L. Decker sold 620 shares of the stock in a transaction 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 transaction, the director now owns 11,775 shares in the company, valued at approximately $10,320,787.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Daniel M. Hines sold 1,500 shares of the 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 transaction, 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. In the last quarter, insiders have sold 4,974 shares of company stock worth $4,252,856. Company 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.