Legacy Bridge LLC Has $2.25 Million Stock Position in Costco Wholesale Co. (NASDAQ:COST)

Legacy Bridge LLC lessened its stake in shares of Costco Wholesale Co. (NASDAQ:COST) by 0.7% during the second quarter, Holdings Channel.com reports. The firm owned 2,647 shares of the retailer’s stock after selling 20 shares during the period. Costco Wholesale accounts for about 1.3% of Legacy Bridge LLC’s portfolio, making the stock its 13th biggest position. Legacy Bridge LLC’s holdings in Costco Wholesale were worth $2,250,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Gilbert & Cook Inc. raised its holdings in Costco Wholesale by 57.3% during the fourth quarter. Gilbert & Cook Inc. now owns 626 shares of the retailer’s stock worth $413,000 after buying an additional 228 shares during the last quarter. Aveo Capital Partners LLC lifted its position in Costco Wholesale by 14.5% in the 4th quarter. Aveo Capital Partners LLC now owns 1,065 shares of the retailer’s stock valued at $703,000 after acquiring an additional 135 shares in the last quarter. Gryphon Financial Partners LLC lifted its position in Costco Wholesale by 62.6% in the 4th quarter. Gryphon Financial Partners LLC now owns 3,309 shares of the retailer’s stock valued at $2,184,000 after acquiring an additional 1,274 shares in the last quarter. McKinley Carter Wealth Services Inc. boosted its stake in Costco Wholesale by 6.1% during the 4th quarter. McKinley Carter Wealth Services Inc. now owns 18,210 shares of the retailer’s stock valued at $12,020,000 after purchasing an additional 1,051 shares during the last quarter. Finally, Wambolt & Associates LLC increased its holdings in Costco Wholesale by 7.9% during the 4th quarter. Wambolt & Associates LLC now owns 6,519 shares of the retailer’s stock worth $4,303,000 after purchasing an additional 480 shares in the last quarter. 68.48% of the stock is currently owned by institutional investors and hedge funds.

Costco Wholesale Stock Down 1.0 %

COST opened at $876.68 on Monday. The business’s fifty day simple moving average is $857.45 and its 200 day simple moving average is $800.74. Costco Wholesale Co. has a 52 week low of $540.23 and a 52 week high of $918.93. The company has a quick ratio of 0.45, a current ratio of 0.94 and a debt-to-equity ratio of 0.27. The stock has a market cap of $388.66 billion, a PE ratio of 54.32, a P/E/G ratio of 5.33 and a beta of 0.80.

Costco Wholesale Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 9th. Investors of record on Friday, July 26th were given a $1.16 dividend. The ex-dividend date 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%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on COST shares. Wells Fargo & Company lifted their target price on Costco Wholesale from $775.00 to $800.00 and gave the company an “equal weight” rating in a research report on Thursday, July 11th. Robert W. Baird increased their target price 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. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Costco Wholesale from $925.00 to $927.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. TD Cowen lifted their target price on shares of Costco Wholesale from $850.00 to $925.00 and gave the stock a “buy” rating in a research report on Friday, July 12th. Finally, Gordon Haskett raised Costco Wholesale from an “accumulate” rating to a “buy” rating and set a $925.00 target price for the company in a report on Thursday, August 8th. Seven analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $828.73.

Insiders Place Their Bets

In other news, Director Kenneth D. Denman sold 350 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the director now directly owns 5,920 shares in the company, valued at approximately $5,041,057.60. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, insider Daniel M. Hines sold 1,500 shares of the firm’s stock in a transaction that occurred on Friday, July 12th. The shares were 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kenneth D. Denman sold 350 shares of the stock in a transaction on Monday, July 15th. The shares were sold at an average price of $851.53, for a total transaction 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. Insiders sold a total of 4,974 shares of company stock valued at $4,252,856 over the last quarter. 0.18% of the stock is owned by corporate insiders.

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.