Asset Dedication LLC Sells 121 Shares of Costco Wholesale Co. (NASDAQ:COST)

Asset Dedication LLC trimmed its stake in Costco Wholesale Co. (NASDAQ:COST) by 1.4% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,699 shares of the retailer’s stock after selling 121 shares during the period. Asset Dedication LLC’s holdings in Costco Wholesale were worth $7,394,000 at the end of the most recent reporting period.

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

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on COST. Tigress Financial lifted their price objective on shares of Costco Wholesale from $870.00 to $975.00 and gave the company a “buy” rating in a report on Tuesday, June 25th. TD Cowen raised their price objective on Costco Wholesale from $850.00 to $925.00 and gave the stock a “buy” rating in a report on Friday, July 12th. Telsey Advisory Group reiterated an “outperform” rating and issued a $925.00 target price on shares of Costco Wholesale in a report on Friday. DA Davidson restated a “neutral” rating and set a $780.00 price target on shares of Costco Wholesale in a research note on Friday. Finally, Robert W. Baird upped their price objective 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. Seven analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. According to MarketBeat.com, Costco Wholesale has a consensus rating of “Moderate Buy” and a consensus price target of $828.73.

Insider Buying and Selling

In other Costco Wholesale news, Director Susan L. Decker sold 620 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $876.50, for a total transaction of $543,430.00. Following the transaction, the director now owns 11,775 shares in the company, valued at approximately $10,320,787.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, 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 value of $543,430.00. Following the transaction, the director now directly owns 11,775 shares of the company’s stock, valued at $10,320,787.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Richard A. Galanti sold 500 shares of Costco Wholesale stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $874.05, for a total value of $437,025.00. Following the sale, the executive vice president now directly owns 22,900 shares of the company’s stock, valued at approximately $20,015,745. The disclosure for this sale can be found here. Insiders sold 4,974 shares of company stock worth $4,252,856 in the last three months. Corporate insiders own 0.18% of the company’s stock.

Costco Wholesale Trading Down 1.0 %

Shares of NASDAQ:COST opened at $876.68 on Friday. The business’s 50-day moving average is $857.45 and its 200 day moving average is $800.19. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.94 and a quick ratio of 0.45. Costco Wholesale Co. has a 1 year low of $540.23 and a 1 year high of $918.93. The firm has a market capitalization of $388.66 billion, a P/E ratio of 54.32, a P/E/G ratio of 5.98 and a beta of 0.80.

Costco Wholesale Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 9th. Investors of record on Friday, July 26th were given a $1.16 dividend. This represents a $4.64 annualized dividend and a dividend yield of 0.53%. The ex-dividend date was Friday, July 26th. Costco Wholesale’s payout ratio is currently 28.75%.

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.