ProShare Advisors LLC Lowers Holdings in Costco Wholesale Co. (NASDAQ:COST)

ProShare Advisors LLC lowered its position in shares of Costco Wholesale Co. (NASDAQ:COST) by 9.4% in the second quarter, Holdings Channel reports. The institutional investor owned 443,782 shares of the retailer’s stock after selling 46,099 shares during the period. Costco Wholesale accounts for 1.0% of ProShare Advisors LLC’s holdings, making the stock its 13th biggest holding. ProShare Advisors LLC’s holdings in Costco Wholesale were worth $377,210,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in COST. Frank Rimerman Advisors LLC acquired a new stake in Costco Wholesale in the fourth quarter valued at about $26,000. Redmont Wealth Advisors LLC acquired a new stake in shares of Costco Wholesale in the 1st quarter valued at approximately $32,000. Vima LLC purchased a new stake in shares of Costco Wholesale in the fourth quarter valued at approximately $34,000. DSM Capital Partners LLC acquired a new position in Costco Wholesale during the fourth quarter worth $36,000. Finally, Financial Connections Group Inc. raised its position in Costco Wholesale by 557.1% in the second quarter. Financial Connections Group Inc. now owns 46 shares of the retailer’s stock worth $39,000 after acquiring 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, insider Daniel M. Hines sold 1,500 shares of the business’s stock in a transaction on Friday, July 12th. The shares were sold at an average price of $844.20, for a total transaction of $1,266,300.00. Following the completion of the sale, the insider now directly 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 can be accessed through this link. In other news, Director Kenneth D. Denman sold 350 shares of the firm’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $851.53, for a total value of $298,035.50. Following the transaction, the director now directly owns 5,920 shares in the company, valued at approximately $5,041,057.60. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Daniel M. Hines sold 1,500 shares of Costco Wholesale 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 directly owns 12,492 shares in the company, valued at $10,545,746.40. The disclosure for this sale can be found here. Over the last quarter, insiders sold 4,974 shares of company stock valued at $4,252,856. Insiders own 0.18% of the company’s stock.

Costco Wholesale Stock Up 0.7 %

COST opened at $906.98 on Friday. Costco Wholesale Co. has a 12 month low of $540.23 and a 12 month high of $923.83. The business has a 50-day moving average of $864.85 and a two-hundred day moving average of $811.25. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.94 and a quick ratio of 0.45. The stock has a market capitalization of $402.10 billion, a price-to-earnings ratio of 56.19, a price-to-earnings-growth ratio of 5.51 and a beta of 0.80.

Costco Wholesale Announces Dividend

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

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Telsey Advisory Group restated an “outperform” rating and set a $925.00 target price on shares of Costco Wholesale in a research report on Friday, September 6th. Tigress Financial upped their target price on shares of Costco Wholesale from $870.00 to $975.00 and gave the stock a “buy” rating in a research report on Tuesday, June 25th. DA Davidson reiterated a “neutral” rating and set a $780.00 price target on shares of Costco Wholesale in a research report on Friday, September 6th. Morgan Stanley upped their price target on Costco Wholesale from $855.00 to $950.00 and gave the stock an “overweight” rating in a report on Monday, September 9th. Finally, Loop Capital boosted their target price on Costco Wholesale from $970.00 to $975.00 and gave the stock a “buy” rating in a research report on Friday, September 6th. Eight investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. According to MarketBeat, Costco Wholesale has a consensus rating of “Moderate Buy” and a consensus target price of $844.52.

About Costco Wholesale

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.