SVB Wealth LLC Lowers Stock Position in Costco Wholesale Co. (NASDAQ:COST)

SVB Wealth LLC decreased its holdings in Costco Wholesale Co. (NASDAQ:COST) by 4.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 30,149 shares of the retailer’s stock after selling 1,555 shares during the quarter. Costco Wholesale comprises 0.6% of SVB Wealth LLC’s investment portfolio, making the stock its 28th largest holding. SVB Wealth LLC’s holdings in Costco Wholesale were worth $25,626,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Mine & Arao Wealth Creation & Management LLC. grew its stake in shares of Costco Wholesale by 28.6% in the 2nd quarter. Mine & Arao Wealth Creation & Management LLC. now owns 238 shares of the retailer’s stock valued at $202,000 after purchasing an additional 53 shares during the last quarter. Chicago Capital LLC lifted its holdings in shares of Costco Wholesale by 0.4% during the second quarter. Chicago Capital LLC now owns 95,083 shares of the retailer’s stock worth $80,820,000 after purchasing an additional 361 shares during the period. Great Lakes Advisors LLC grew its position in Costco Wholesale by 17.1% in the 2nd quarter. Great Lakes Advisors LLC now owns 42,781 shares of the retailer’s stock valued at $36,364,000 after buying an additional 6,253 shares during the last quarter. Hanlon Investment Management Inc. acquired a new position in Costco Wholesale in the 2nd quarter valued at $227,000. Finally, Patron Partners LLC raised its position in Costco Wholesale by 2.8% during the 2nd quarter. Patron Partners LLC now owns 5,528 shares of the retailer’s stock worth $4,699,000 after buying an additional 148 shares during the last quarter. Institutional investors and hedge funds own 68.48% of the company’s stock.

Costco Wholesale Trading Down 1.0 %

NASDAQ COST traded down $9.30 during trading hours on Friday, hitting $876.68. 2,074,604 shares of the company’s stock were exchanged, compared to its average volume of 1,959,834. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.45 and a current ratio of 0.94. The firm has a market capitalization of $388.66 billion, a P/E ratio of 54.32, a price-to-earnings-growth ratio of 5.98 and a beta of 0.80. The business’s 50 day moving average is $857.45 and its 200-day moving average is $799.68. Costco Wholesale Co. has a 12-month low of $540.23 and a 12-month high of $918.93.

Costco Wholesale Dividend Announcement

The business also recently announced 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 dividend on an annualized basis and a yield of 0.53%. Costco Wholesale’s payout ratio is 28.75%.

Insider Buying and Selling

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

Wall Street Analysts Forecast Growth

COST has been the topic of a number of recent analyst reports. Oppenheimer boosted their price target on shares of Costco Wholesale from $925.00 to $955.00 and gave the stock an “outperform” rating in a research note on Friday. Argus raised their price target on Costco Wholesale from $805.00 to $900.00 and gave the company a “buy” rating in a report on Tuesday, May 28th. Evercore ISI increased their price objective on Costco Wholesale from $915.00 to $925.00 and gave the stock an “outperform” rating in a research report on Friday. BMO Capital Markets raised their target price on Costco Wholesale from $875.00 to $950.00 and gave the company an “outperform” rating in a report on Monday, August 12th. Finally, Loop Capital upped their price target on shares of Costco Wholesale from $970.00 to $975.00 and gave the stock a “buy” rating in a research note on Friday. Seven analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. Based on data from MarketBeat, Costco Wholesale presently has an average rating of “Moderate Buy” and an average target price of $828.73.

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.