Ballentine Partners LLC Has $8.08 Million Holdings in Costco Wholesale Co. (NASDAQ:COST)

Ballentine Partners LLC increased its stake in shares of Costco Wholesale Co. (NASDAQ:COST) by 5.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,508 shares of the retailer’s stock after buying an additional 500 shares during the quarter. Ballentine Partners LLC’s holdings in Costco Wholesale were worth $8,082,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Arlington Trust Co LLC lifted its position in Costco Wholesale by 4.2% during the 2nd quarter. Arlington Trust Co LLC now owns 2,829 shares of the retailer’s stock valued at $2,405,000 after purchasing an additional 115 shares during the period. Caprock Group LLC lifted its holdings in Costco Wholesale by 68.7% in the second quarter. Caprock Group LLC now owns 12,075 shares of the retailer’s stock valued at $10,264,000 after buying an additional 4,918 shares during the period. Lynch & Associates IN boosted its stake in Costco Wholesale by 7.5% in the second quarter. Lynch & Associates IN now owns 360 shares of the retailer’s stock valued at $306,000 after acquiring an additional 25 shares during the last quarter. Certuity LLC grew its holdings in Costco Wholesale by 8.5% during the 2nd quarter. Certuity LLC now owns 1,590 shares of the retailer’s stock worth $1,351,000 after acquiring an additional 124 shares during the period. Finally, Counterweight Ventures LLC raised its position in shares of Costco Wholesale by 0.6% during the 2nd quarter. Counterweight Ventures LLC now owns 3,790 shares of the retailer’s stock valued at $3,221,000 after acquiring an additional 21 shares during the last quarter. 68.48% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Citigroup raised their price target on Costco Wholesale from $710.00 to $800.00 and gave the stock a “neutral” rating in a research report on Friday, May 31st. Robert W. Baird raised their target price on Costco Wholesale from $850.00 to $975.00 and gave the stock an “outperform” rating in a report on Thursday, July 11th. Loop Capital upped their price target on Costco Wholesale from $970.00 to $975.00 and gave the company a “buy” rating in a research note on Friday. BMO Capital Markets increased their target price 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. Finally, Evercore ISI lifted their price objective on Costco Wholesale from $915.00 to $925.00 and gave the company an “outperform” rating in a report on Friday. Seven research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $828.73.

Costco Wholesale Stock Performance

Shares of COST stock traded down $9.30 during trading on Friday, reaching $876.68. 2,074,604 shares of the company’s stock were exchanged, compared to its average volume of 1,959,834. The firm’s fifty day moving average price is $857.45 and its 200-day moving average price is $800.19. Costco Wholesale Co. has a twelve month low of $540.23 and a twelve month high of $918.93. The stock has a market capitalization of $388.66 billion, a PE ratio of 54.32, a PEG ratio of 5.98 and a beta of 0.80. The company has a quick ratio of 0.45, a current ratio of 0.94 and a debt-to-equity ratio of 0.27.

Costco Wholesale Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 9th. Investors of record on Friday, July 26th were paid 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 dividend payout ratio (DPR) is currently 28.75%.

Insider Buying and Selling at Costco Wholesale

In related news, EVP Richard A. Galanti sold 500 shares of the business’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $874.05, for a total value of $437,025.00. Following the completion of the sale, the executive vice president now directly owns 22,900 shares in the company, valued at approximately $20,015,745. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Costco Wholesale news, EVP Richard A. Galanti sold 500 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $874.05, for a total value of $437,025.00. Following the completion of the sale, the executive vice president now owns 22,900 shares of the company’s stock, valued at approximately $20,015,745. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kenneth D. Denman sold 350 shares of the stock in a transaction that occurred 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 in the company, valued at approximately $5,041,057.60. The disclosure for this sale can be found here. Insiders have sold a total of 4,974 shares of company stock valued at $4,252,856 in the last three months. 0.18% of the stock is currently owned by company 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.