Paces Ferry Wealth Advisors LLC Buys 49 Shares of Costco Wholesale Co. (NASDAQ:COST)

Paces Ferry Wealth Advisors LLC raised its stake in Costco Wholesale Co. (NASDAQ:COST) by 5.3% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 972 shares of the retailer’s stock after purchasing an additional 49 shares during the quarter. Paces Ferry Wealth Advisors LLC’s holdings in Costco Wholesale were worth $826,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Frank Rimerman Advisors LLC bought a new stake in Costco Wholesale during the fourth quarter worth $26,000. Redmont Wealth Advisors LLC bought a new stake in shares of Costco Wholesale in the 1st quarter valued at about $32,000. Financial Connections Group Inc. raised 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 purchasing an additional 39 shares during the period. Vima LLC acquired a new stake in Costco Wholesale in the 4th quarter valued at about $34,000. Finally, DSM Capital Partners LLC bought a new position in Costco Wholesale during the fourth quarter worth about $36,000. Institutional investors and hedge funds own 68.48% of the company’s stock.

Insider Activity at Costco Wholesale

In other Costco Wholesale news, insider Daniel M. Hines sold 1,500 shares of the company’s stock in a transaction dated 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 completion of the transaction, the insider now owns 12,492 shares of the company’s stock, valued at approximately $10,545,746.40. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, 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 completion of the sale, the insider now directly owns 12,492 shares in the company, valued at $10,545,746.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kenneth D. Denman sold 350 shares of Costco Wholesale stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $851.53, for a total value of $298,035.50. Following the completion of the transaction, the director now directly owns 5,920 shares in the company, valued at $5,041,057.60. The disclosure for this sale can be found here. Insiders have sold a total of 4,974 shares of company stock valued at $4,252,856 in the last 90 days. 0.18% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. DA Davidson reaffirmed a “neutral” rating and issued a $780.00 price objective on shares of Costco Wholesale in a research report on Friday, September 6th. Tigress Financial lifted their price objective 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. Truist Financial increased their price objective on shares of Costco Wholesale from $815.00 to $873.00 and gave the company a “buy” rating in a research report on Friday, May 31st. Robert W. Baird lifted their target price on shares of Costco Wholesale from $850.00 to $975.00 and gave the stock an “outperform” rating in a report on Thursday, July 11th. Finally, Citigroup increased their price target on shares of Costco Wholesale from $710.00 to $800.00 and gave the company a “neutral” rating in a report on Friday, May 31st. Eight analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $844.52.

Costco Wholesale Trading Down 0.5 %

Shares of Costco Wholesale stock opened at $892.52 on Thursday. The firm’s 50 day moving average is $862.49 and its 200 day moving average is $809.24. The firm has a market capitalization of $395.68 billion, a PE ratio of 55.30, a price-to-earnings-growth ratio of 5.56 and a beta of 0.80. Costco Wholesale Co. has a 1 year low of $540.23 and a 1 year high of $923.83. 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 Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 9th. Stockholders of record on Friday, July 26th were issued a dividend of $1.16 per share. The ex-dividend date of this dividend was Friday, July 26th. This represents a $4.64 annualized dividend and a dividend yield of 0.52%. Costco Wholesale’s dividend payout ratio (DPR) is presently 28.75%.

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.