Lynch & Associates IN Acquires 25 Shares of Costco Wholesale Co. (NASDAQ:COST)

Lynch & Associates IN grew its stake in Costco Wholesale Co. (NASDAQ:COST) by 7.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 360 shares of the retailer’s stock after purchasing an additional 25 shares during the period. Lynch & Associates IN’s holdings in Costco Wholesale were worth $306,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of COST. Norges Bank bought a new stake in Costco Wholesale in the fourth quarter valued at $3,628,694,000. Global Assets Advisory LLC bought a new stake in shares of Costco Wholesale in the 1st quarter worth about $510,353,000. Assenagon Asset Management S.A. increased its position in shares of Costco Wholesale by 287.3% during the 2nd quarter. Assenagon Asset Management S.A. now owns 836,247 shares of the retailer’s stock worth $710,802,000 after purchasing an additional 620,341 shares in the last quarter. Strategic Financial Concepts LLC lifted its holdings in Costco Wholesale by 51,747.5% during the 2nd quarter. Strategic Financial Concepts LLC now owns 619,578 shares of the retailer’s stock valued at $5,266,000 after purchasing an additional 618,383 shares during the last quarter. Finally, Public Employees Retirement Association of Colorado boosted its position in Costco Wholesale by 3,647.1% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 567,641 shares of the retailer’s stock valued at $374,688,000 after buying an additional 552,492 shares in the last quarter. 68.48% of the stock is owned by institutional investors and hedge funds.

Costco Wholesale Price Performance

Shares of COST opened at $876.68 on Friday. The stock has a 50 day simple moving average of $857.45 and a 200 day simple moving average of $800.19. Costco Wholesale Co. has a 52-week low of $540.23 and a 52-week high of $918.93. 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 PE ratio of 54.32, a P/E/G ratio of 5.98 and a beta of 0.80.

Costco Wholesale Announces Dividend

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 $1.16 dividend. This represents a $4.64 annualized dividend and a dividend yield of 0.53%. The ex-dividend date of this dividend was Friday, July 26th. Costco Wholesale’s dividend payout ratio (DPR) is presently 28.75%.

Insider Transactions at Costco Wholesale

In related news, Director Kenneth D. Denman sold 350 shares of the business’s stock in a transaction on 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Daniel M. Hines sold 1,500 shares of Costco Wholesale stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $848.53, for a total value of $1,272,795.00. Following the sale, the insider now directly owns 10,992 shares in the company, valued at $9,327,041.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kenneth D. Denman sold 350 shares of the stock in a transaction on Monday, July 15th. The stock was sold at an average price of $851.53, for a total transaction of $298,035.50. Following the transaction, the director now 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. Insiders sold 4,974 shares of company stock valued at $4,252,856 over the last quarter. Corporate insiders own 0.18% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on COST shares. BMO Capital Markets raised their price objective on shares of Costco Wholesale from $875.00 to $950.00 and gave the stock an “outperform” rating in a report on Monday, August 12th. Bank of America lifted their price objective on Costco Wholesale from $874.00 to $962.00 and gave the company a “buy” rating in a research report on Thursday, July 11th. Truist Financial increased their target price on Costco Wholesale from $815.00 to $873.00 and gave the stock a “buy” rating in a report on Friday, May 31st. Evercore ISI lifted their price target on Costco Wholesale from $915.00 to $925.00 and gave the company an “outperform” rating in a report on Friday. Finally, Gordon Haskett raised shares of Costco Wholesale from an “accumulate” rating to a “buy” rating and set a $925.00 price objective on the stock in a report on Thursday, August 8th. Seven investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $828.73.

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.