Resources Management Corp CT ADV Sells 317 Shares of Costco Wholesale Co. (NASDAQ:COST)

Resources Management Corp CT ADV cut its position in shares of Costco Wholesale Co. (NASDAQ:COST) by 2.5% in the second quarter, Holdings Channel.com reports. The firm owned 12,281 shares of the retailer’s stock after selling 317 shares during the quarter. Costco Wholesale comprises approximately 1.5% of Resources Management Corp CT ADV’s investment portfolio, making the stock its 18th biggest position. Resources Management Corp CT ADV’s holdings in Costco Wholesale were worth $10,439,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Frank Rimerman Advisors LLC purchased a new position in shares of Costco Wholesale during the 4th quarter worth about $26,000. Redmont Wealth Advisors LLC purchased a new position in shares of Costco Wholesale during the 1st quarter worth about $32,000. Financial Connections Group Inc. boosted its stake in shares of Costco Wholesale by 557.1% during the 2nd quarter. Financial Connections Group Inc. now owns 46 shares of the retailer’s stock worth $39,000 after purchasing an additional 39 shares during the period. Vima LLC purchased a new position in shares of Costco Wholesale during the 4th quarter worth about $34,000. Finally, Bank & Trust Co purchased a new position in shares of Costco Wholesale during the 2nd quarter worth about $48,000. 68.48% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have issued reports on COST. Melius Research began coverage on shares of Costco Wholesale in a research report on Monday. They issued a “hold” rating and a $950.00 price objective for the company. Robert W. Baird boosted their price objective on shares of Costco Wholesale from $850.00 to $975.00 and gave the company an “outperform” rating in a research report on Thursday, July 11th. TD Cowen boosted their price objective on shares of Costco Wholesale from $850.00 to $925.00 and gave the company a “buy” rating in a research report on Friday, July 12th. Oppenheimer boosted their price objective on shares of Costco Wholesale from $925.00 to $955.00 and gave the company an “outperform” rating in a research report on Friday, September 6th. Finally, BMO Capital Markets boosted their price objective on shares of Costco Wholesale from $875.00 to $950.00 and gave the company an “outperform” rating in a research report on Monday, August 12th. 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, the stock has an average rating of “Moderate Buy” and a consensus target price of $857.48.

Insider Buying and Selling at Costco Wholesale

In other Costco Wholesale news, insider Daniel M. Hines sold 1,500 shares of the company’s stock in a transaction that occurred 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 transaction, the insider now owns 12,492 shares in the company, valued at approximately $10,545,746.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Costco Wholesale news, EVP Richard A. Galanti sold 500 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $874.05, for a total transaction of $437,025.00. Following the transaction, the executive vice president now owns 22,900 shares in the company, valued at approximately $20,015,745. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 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 transaction of $1,266,300.00. Following the completion of the sale, 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. 0.18% of the stock is owned by corporate insiders.

Costco Wholesale Trading Up 1.1 %

Shares of Costco Wholesale stock opened at $917.08 on Tuesday. 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 firm has a market capitalization of $406.57 billion, a price-to-earnings ratio of 56.82, a PEG ratio of 5.51 and a beta of 0.80. The firm’s 50 day simple moving average is $866.22 and its two-hundred day simple moving average is $812.45.

Costco Wholesale Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 9th. Shareholders of record on Friday, July 26th were paid a dividend of $1.16 per share. 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%.

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.