Clearstead Trust LLC Raises Stake in Costco Wholesale Co. (NASDAQ:COST)

Clearstead Trust LLC grew its position in shares of Costco Wholesale Co. (NASDAQ:COST) by 0.7% during the second quarter, Holdings Channel.com reports. The fund owned 7,475 shares of the retailer’s stock after purchasing an additional 51 shares during the quarter. Costco Wholesale comprises 1.6% of Clearstead Trust LLC’s portfolio, making the stock its 10th biggest holding. Clearstead Trust LLC’s holdings in Costco Wholesale were worth $6,354,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Zhang Financial LLC lifted its holdings in Costco Wholesale by 3.8% during the first quarter. Zhang Financial LLC now owns 1,010 shares of the retailer’s stock worth $740,000 after acquiring an additional 37 shares during the period. Strong Tower Advisory Services grew its position in Costco Wholesale by 7.9% during the first quarter. Strong Tower Advisory Services now owns 1,867 shares of the retailer’s stock valued at $1,346,000 after buying an additional 137 shares during the period. Aigen Investment Management LP purchased a new stake in Costco Wholesale during the fourth quarter worth about $3,871,000. J.W. Cole Advisors Inc. increased its holdings in Costco Wholesale by 52.1% during the second quarter. J.W. Cole Advisors Inc. now owns 7,645 shares of the retailer’s stock worth $6,499,000 after buying an additional 2,620 shares during the last quarter. Finally, Main Street Financial Solutions LLC boosted its stake in Costco Wholesale by 22.8% in the second quarter. Main Street Financial Solutions LLC now owns 3,533 shares of the retailer’s stock valued at $3,003,000 after acquiring an additional 656 shares during the last quarter. Institutional investors own 68.48% of the company’s stock.

Costco Wholesale Price Performance

Shares of NASDAQ:COST opened at $907.87 on Tuesday. The company’s fifty day moving average price is $862.11 and its 200-day moving average price is $807.61. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.94 and a quick ratio of 0.45. The firm 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 one year low of $540.23 and a one year high of $923.83.

Costco Wholesale Announces Dividend

The company also recently declared 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 was Friday, July 26th. This represents a $4.64 dividend on an annualized basis and a yield of 0.51%. Costco Wholesale’s payout ratio is 28.75%.

Insiders Place Their Bets

In other news, insider Daniel M. Hines sold 1,500 shares of the stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $844.20, for a total transaction of $1,266,300.00. Following the transaction, the insider now directly 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 through the SEC website. In other news, insider Daniel M. Hines sold 1,500 shares of the company’s stock in a transaction 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 completion of the sale, the insider now 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 is available through the SEC website. Also, Director Kenneth D. Denman sold 350 shares of Costco Wholesale 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 completion of the transaction, the director now owns 5,920 shares in the company, 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 90 days. Insiders own 0.18% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. StockNews.com upgraded shares of Costco Wholesale from a “hold” rating to a “buy” rating in a research note on Friday, September 6th. Oppenheimer upped their price target on Costco Wholesale from $925.00 to $955.00 and gave the company an “outperform” rating in a research report on Friday, September 6th. Redburn Atlantic lowered Costco Wholesale from a “buy” rating to a “neutral” rating and lifted their price objective for the stock from $860.00 to $890.00 in a report on Tuesday, September 10th. Stifel Nicolaus increased their target price on shares of Costco Wholesale from $910.00 to $915.00 and gave the stock a “buy” rating in a research report on Friday, September 6th. Finally, Loop Capital boosted their price target on shares of Costco Wholesale from $970.00 to $975.00 and gave the company a “buy” rating in a research report on Friday, September 6th. Eight equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Costco Wholesale presently has a consensus rating of “Moderate Buy” and an average price target of $844.52.

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.