Ameriprise Financial Inc. Lowers Position in Costco Wholesale Co. (NASDAQ:COST)

Ameriprise Financial Inc. decreased its stake in Costco Wholesale Co. (NASDAQ:COST) by 0.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,573,934 shares of the retailer’s stock after selling 603 shares during the quarter. Ameriprise Financial Inc. owned approximately 0.36% of Costco Wholesale worth $1,339,950,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Oak Asset Management LLC raised its stake in Costco Wholesale by 0.3% during the 2nd quarter. Oak Asset Management LLC now owns 4,396 shares of the retailer’s stock worth $3,737,000 after acquiring an additional 12 shares during the period. Peddock Capital Advisors LLC raised its position in shares of Costco Wholesale by 0.7% during the 2nd quarter. Peddock Capital Advisors LLC now owns 1,786 shares of the retailer’s stock valued at $1,518,000 after purchasing an additional 12 shares during the period. Bedel Financial Consulting Inc. lifted its stake in shares of Costco Wholesale by 1.3% during the 1st quarter. Bedel Financial Consulting Inc. now owns 995 shares of the retailer’s stock valued at $729,000 after buying an additional 13 shares in the last quarter. Boltwood Capital Management lifted its stake in shares of Costco Wholesale by 1.7% during the 2nd quarter. Boltwood Capital Management now owns 790 shares of the retailer’s stock valued at $671,000 after buying an additional 13 shares in the last quarter. Finally, LifePro Asset Management boosted its holdings in Costco Wholesale by 3.8% in the 2nd quarter. LifePro Asset Management now owns 358 shares of the retailer’s stock worth $304,000 after buying an additional 13 shares during the period. Institutional investors own 68.48% of the company’s stock.

Costco Wholesale Price Performance

COST stock opened at $908.42 on Thursday. The stock has a market cap of $402.73 billion, a PE ratio of 56.28, a P/E/G ratio of 5.57 and a beta of 0.80. Costco Wholesale Co. has a 12 month low of $540.23 and a 12 month high of $923.83. The company has a 50-day moving average price of $867.23 and a 200 day moving average price of $813.69. 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 Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 9th. Shareholders of record on Friday, July 26th were given 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 0.51%. Costco Wholesale’s dividend payout ratio (DPR) is presently 28.75%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on COST. Roth Mkm restated a “neutral” rating and issued a $676.00 price objective (up from $650.00) on shares of Costco Wholesale in a research report on Friday, May 31st. Wells Fargo & Company boosted their price target on Costco Wholesale from $775.00 to $800.00 and gave the stock an “equal weight” rating in a report on Thursday, July 11th. Redburn Atlantic lowered shares of Costco Wholesale from a “buy” rating to a “neutral” rating and increased their price objective for the company from $860.00 to $890.00 in a report on Tuesday, September 10th. StockNews.com raised shares of Costco Wholesale from a “hold” rating to a “buy” rating in a report on Friday, September 6th. Finally, Bank of America raised their target price on shares of Costco Wholesale from $874.00 to $962.00 and gave the company a “buy” rating in a research note on Thursday, July 11th. Nine investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $857.48.

Insider Activity

In related news, Director Susan L. Decker sold 620 shares of the firm’s stock in a transaction that occurred 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 directly owns 11,775 shares of the company’s stock, valued at approximately $10,320,787.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Susan L. Decker sold 620 shares of the firm’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $876.50, for a total value of $543,430.00. Following the transaction, the director now owns 11,775 shares of the company’s stock, valued at approximately $10,320,787.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Richard A. Galanti sold 500 shares of Costco Wholesale stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $874.05, for a total transaction of $437,025.00. Following the sale, the executive vice president now owns 22,900 shares of the company’s stock, valued at approximately $20,015,745. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 4,974 shares of company stock valued at $4,252,856. 0.18% of the stock is currently owned by insiders.

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.