Costco Wholesale Co. (NASDAQ:COST) Shares Sold by Sterling Investment Advisors Ltd.

Sterling Investment Advisors Ltd. lowered its stake in shares of Costco Wholesale Co. (NASDAQ:COST) by 2.3% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 11,363 shares of the retailer’s stock after selling 266 shares during the period. Costco Wholesale makes up about 2.6% of Sterling Investment Advisors Ltd.’s investment portfolio, making the stock its 8th largest position. Sterling Investment Advisors Ltd.’s holdings in Costco Wholesale were worth $9,659,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in COST. Frank Rimerman Advisors LLC acquired a new stake in shares of Costco Wholesale in the 4th quarter worth $26,000. Redmont Wealth Advisors LLC acquired a new stake in Costco Wholesale in the first quarter valued at about $32,000. Vima LLC acquired a new stake in Costco Wholesale in the fourth quarter valued at about $34,000. DSM Capital Partners LLC purchased a new stake in Costco Wholesale in the 4th quarter valued at approximately $36,000. Finally, Financial Connections Group Inc. raised its stake in shares of Costco Wholesale by 557.1% during the 2nd quarter. Financial Connections Group Inc. now owns 46 shares of the retailer’s stock worth $39,000 after buying an additional 39 shares in the last quarter. Institutional investors and hedge funds own 68.48% of the company’s stock.

Costco Wholesale Trading Down 0.5 %

Shares of COST stock opened at $885.98 on Friday. The firm has a 50-day moving average price of $856.92 and a 200 day moving average price of $798.62. Costco Wholesale Co. has a twelve month low of $540.18 and a twelve month high of $918.93. The company has a market capitalization of $392.78 billion, a price-to-earnings ratio of 54.89, a PEG ratio of 5.98 and a beta of 0.80. The company has a current ratio of 0.94, a quick ratio of 0.45 and a debt-to-equity ratio of 0.27.

Costco Wholesale Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 9th. Investors of record on Friday, July 26th were paid a $1.16 dividend. This represents a $4.64 annualized dividend and a yield of 0.52%. The ex-dividend date of this dividend was Friday, July 26th. Costco Wholesale’s payout ratio is 28.75%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the company. Evercore ISI decreased their price target on Costco Wholesale from $920.00 to $915.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 7th. Bank of America raised their target price on Costco Wholesale from $874.00 to $962.00 and gave the company a “buy” rating in a report on Thursday, July 11th. Oppenheimer reduced their target price on Costco Wholesale from $950.00 to $925.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Argus raised their target price on Costco Wholesale from $805.00 to $900.00 and gave the company a “buy” rating in a report on Tuesday, May 28th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on Costco Wholesale from $925.00 to $927.00 and gave the company a “buy” rating in a report on Thursday, August 8th. Eight analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $824.50.

Insider Activity at Costco Wholesale

In related news, insider Daniel M. Hines sold 1,500 shares of the business’s stock in a transaction dated 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 transaction, 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 at the SEC website. In other Costco Wholesale news, Director Kenneth D. Denman sold 350 shares of Costco Wholesale stock in a transaction dated Monday, July 15th. The stock was 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 owns 5,920 shares in the company, valued at approximately $5,041,057.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Daniel M. Hines sold 1,500 shares of Costco Wholesale stock in a transaction dated 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 disclosure for this sale can be found here. In the last quarter, insiders sold 4,974 shares of company stock valued at $4,252,856. 0.18% of the stock is owned by 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.