Kayne Anderson Rudnick Investment Management LLC Acquires 156 Shares of Costco Wholesale Co. (NASDAQ:COST)

Kayne Anderson Rudnick Investment Management LLC lifted its holdings in shares of Costco Wholesale Co. (NASDAQ:COST) by 13.0% during the 2nd quarter, Holdings Channel.com reports. The firm owned 1,356 shares of the retailer’s stock after buying an additional 156 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC’s holdings in Costco Wholesale were worth $1,153,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. Frank Rimerman Advisors LLC bought a new stake in shares of Costco Wholesale in the 4th quarter valued at about $26,000. Redmont Wealth Advisors LLC purchased a new position in Costco Wholesale in the 1st quarter worth approximately $32,000. Vima LLC bought a new stake in Costco Wholesale in the fourth quarter valued at approximately $34,000. Financial Connections Group Inc. lifted 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 valued at $39,000 after purchasing an additional 39 shares during the last quarter. Finally, Bank & Trust Co bought a new position in shares of Costco Wholesale in the second quarter worth approximately $48,000. Hedge funds and other institutional investors own 68.48% of the company’s stock.

Costco Wholesale Stock Performance

COST stock opened at $917.08 on Tuesday. The stock’s 50 day simple moving average is $866.22 and its 200 day simple moving average is $812.45. 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 Co. has a 12-month low of $540.23 and a 12-month high of $923.83. The stock has a market capitalization of $406.57 billion, a PE ratio of 56.82, a price-to-earnings-growth ratio of 5.51 and a beta of 0.80.

Costco Wholesale Announces Dividend

The firm also recently disclosed 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 annualized dividend and a yield of 0.51%. Costco Wholesale’s payout ratio is 28.75%.

Insiders Place Their Bets

In other news, insider Daniel M. Hines sold 1,500 shares of Costco Wholesale 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 sale, the insider now directly owns 12,492 shares in the company, valued at $10,545,746.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Daniel M. Hines sold 1,500 shares of the firm’s 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 directly owns 12,492 shares in the company, valued at approximately $10,545,746.40. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Richard A. Galanti sold 500 shares of the stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $863.88, for a total value of $431,940.00. Following the completion of the transaction, the executive vice president now directly owns 23,800 shares in the company, valued at approximately $20,560,344. The disclosure for this sale can be found here. In the last 90 days, insiders sold 4,974 shares of company stock valued at $4,252,856. 0.18% of the stock is owned by insiders.

Wall Street Analyst Weigh In

COST has been the subject of a number of recent analyst reports. Telsey Advisory Group reiterated an “outperform” rating and set a $925.00 price target on shares of Costco Wholesale in a report on Friday, September 6th. Tigress Financial increased their target price on shares of Costco Wholesale from $870.00 to $975.00 and gave the stock a “buy” rating in a report on Tuesday, June 25th. Barclays boosted their price target on Costco Wholesale from $765.00 to $830.00 and gave the company an “equal weight” rating in a report on Thursday, July 11th. Stifel Nicolaus increased their price objective on Costco Wholesale from $910.00 to $915.00 and gave the stock a “buy” rating in a report on Friday, September 6th. Finally, Citigroup boosted their target price on Costco Wholesale from $710.00 to $800.00 and gave the company a “neutral” rating in a research note on Friday, May 31st. Eight investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $857.48.

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.