Front Street Capital Management Inc. Sells 3,656 Shares of Costco Wholesale Co. (NASDAQ:COST)

Front Street Capital Management Inc. reduced its position in shares of Costco Wholesale Co. (NASDAQ:COST) by 8.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 38,734 shares of the retailer’s stock after selling 3,656 shares during the period. Costco Wholesale accounts for about 6.3% of Front Street Capital Management Inc.’s investment portfolio, making the stock its 6th largest position. Front Street Capital Management Inc.’s holdings in Costco Wholesale were worth $32,923,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Xponance Inc. raised its stake in shares of Costco Wholesale by 9.2% during the second quarter. Xponance Inc. now owns 112,690 shares of the retailer’s stock valued at $95,785,000 after purchasing an additional 9,460 shares during the period. Lombard Odier Asset Management Europe Ltd acquired a new stake in shares of Costco Wholesale during the second quarter worth approximately $6,960,000. Evergreen Capital Management LLC boosted its holdings in Costco Wholesale by 7.3% in the second quarter. Evergreen Capital Management LLC now owns 22,453 shares of the retailer’s stock worth $19,085,000 after purchasing an additional 1,527 shares during the period. Public Sector Pension Investment Board boosted its holdings in Costco Wholesale by 17.9% in the second quarter. Public Sector Pension Investment Board now owns 47,013 shares of the retailer’s stock worth $39,961,000 after purchasing an additional 7,131 shares during the period. Finally, Steel Grove Capital Advisors LLC boosted its holdings in Costco Wholesale by 9.3% in the second quarter. Steel Grove Capital Advisors LLC now owns 1,022 shares of the retailer’s stock worth $869,000 after purchasing an additional 87 shares during the period. 68.48% of the stock is owned by institutional investors and hedge funds.

Costco Wholesale Price Performance

Costco Wholesale stock opened at $917.08 on Tuesday. 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 company 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 Co. has a one year low of $540.23 and a one year high of $923.83. The business has a 50 day simple moving average of $866.22 and a 200 day simple moving average of $812.45.

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 issued 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 dividend payout ratio is 28.75%.

Analyst Upgrades and Downgrades

A number of research firms have commented on COST. Melius Research began coverage on shares of Costco Wholesale in a report on Monday. They issued a “hold” rating and a $950.00 price objective for the company. Tigress Financial lifted their price target on Costco Wholesale from $870.00 to $975.00 and gave the stock a “buy” rating in a research note on Tuesday, June 25th. Robert W. Baird raised their price target on shares of Costco Wholesale from $850.00 to $975.00 and gave the company an “outperform” rating in a report on Thursday, July 11th. BMO Capital Markets increased their price objective on Costco Wholesale from $875.00 to $950.00 and gave the company an “outperform” rating in a report on Monday, August 12th. Finally, Stifel Nicolaus boosted their price objective on Costco Wholesale from $910.00 to $915.00 and gave the stock a “buy” rating in a research report on Friday, September 6th. Eight analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $857.48.

Insider Activity at Costco Wholesale

In other news, Director Susan L. Decker sold 620 shares of the business’s 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 completion of the sale, the director now owns 11,775 shares in the company, valued at $10,320,787.50. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, Director Susan L. Decker sold 620 shares of the company’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $876.50, for a total value of $543,430.00. Following the completion of the sale, the director now owns 11,775 shares in the company, valued at $10,320,787.50. The transaction was disclosed in a filing 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 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 sale, the insider now owns 12,492 shares of the company’s stock, valued at $10,545,746.40. The disclosure for this sale can be found here. Insiders sold 4,974 shares of company stock valued at $4,252,856 in the last three months. Corporate insiders own 0.18% of the company’s stock.

Costco Wholesale Company 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.