Costco Wholesale Co. (NASDAQ:COST) Stock Position Raised by WealthPLAN Partners LLC

WealthPLAN Partners LLC lifted its position in Costco Wholesale Co. (NASDAQ:COST) by 3.8% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 15,269 shares of the retailer’s stock after acquiring an additional 558 shares during the quarter. Costco Wholesale makes up about 1.4% of WealthPLAN Partners LLC’s holdings, making the stock its 17th biggest holding. WealthPLAN Partners LLC’s holdings in Costco Wholesale were worth $12,979,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Frank Rimerman Advisors LLC acquired a new position in Costco Wholesale in the 4th quarter valued at approximately $26,000. Redmont Wealth Advisors LLC acquired a new position in Costco Wholesale in the 1st quarter valued at approximately $32,000. Vima LLC acquired a new position in Costco Wholesale in the 4th quarter valued at approximately $34,000. DSM Capital Partners LLC acquired a new position in Costco Wholesale in the 4th quarter valued at approximately $36,000. Finally, Financial Connections Group Inc. increased its stake in Costco Wholesale by 557.1% in the 2nd quarter. Financial Connections Group Inc. now owns 46 shares of the retailer’s stock valued at $39,000 after buying an additional 39 shares during the period. Hedge funds and other institutional investors own 68.48% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on COST shares. DA Davidson reiterated a “neutral” rating and issued a $780.00 price objective on shares of Costco Wholesale in a research note on Friday, September 6th. Tigress Financial increased their price target on shares of Costco Wholesale from $870.00 to $975.00 and gave the stock a “buy” rating in a research note on Tuesday, June 25th. BMO Capital Markets increased their price target on shares of Costco Wholesale from $875.00 to $950.00 and gave the stock an “outperform” rating in a research note on Monday, August 12th. Robert W. Baird increased their price target on shares of Costco Wholesale from $850.00 to $975.00 and gave the stock an “outperform” rating in a research note on Thursday, July 11th. Finally, Telsey Advisory Group restated an “outperform” rating and set a $925.00 price target on shares of Costco Wholesale in a research note on Friday, September 6th. Eight research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $844.52.

Costco Wholesale Price Performance

NASDAQ:COST opened at $907.87 on Tuesday. The company has a 50-day moving average of $862.11 and a 200-day moving average of $807.61. The company has a market capitalization of $402.49 billion, a price-to-earnings ratio of 56.25, a PEG ratio of 5.56 and a beta of 0.80. Costco Wholesale Co. has a 52 week low of $540.23 and a 52 week high of $923.83. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.45 and a current ratio of 0.94.

Costco Wholesale Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 9th. Stockholders of record on Friday, July 26th were issued a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a dividend yield of 0.51%. The ex-dividend date was Friday, July 26th. Costco Wholesale’s payout ratio is 28.75%.

Insider Transactions at Costco Wholesale

In other news, insider Daniel M. Hines sold 1,500 shares of the firm’s stock in a transaction dated 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 transaction, the insider now directly owns 12,492 shares of the company’s stock, valued at approximately $10,545,746.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Daniel M. Hines sold 1,500 shares of the stock in a transaction dated 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 owns 12,492 shares in the company, valued at approximately $10,545,746.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Susan L. Decker sold 620 shares of the stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $876.50, for a total transaction of $543,430.00. Following the sale, the director now owns 11,775 shares of the company’s stock, valued at approximately $10,320,787.50. The disclosure for this sale can be found here. In the last three months, insiders sold 4,974 shares of company stock valued at $4,252,856. Company insiders own 0.18% of the company’s stock.

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.