LGT Group Foundation Lowers Stock Holdings in Costco Wholesale Co. (NASDAQ:COST)

LGT Group Foundation lowered its position in Costco Wholesale Co. (NASDAQ:COST) by 25.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 17,700 shares of the retailer’s stock after selling 5,914 shares during the period. LGT Group Foundation’s holdings in Costco Wholesale were worth $15,045,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Norges Bank acquired a new position in shares of Costco Wholesale during the 4th quarter worth approximately $3,628,694,000. Global Assets Advisory LLC acquired a new position in shares of Costco Wholesale during the 1st quarter worth approximately $510,353,000. Assenagon Asset Management S.A. raised its position in shares of Costco Wholesale by 287.3% during the 2nd quarter. Assenagon Asset Management S.A. now owns 836,247 shares of the retailer’s stock worth $710,802,000 after purchasing an additional 620,341 shares during the last quarter. Strategic Financial Concepts LLC raised its position in shares of Costco Wholesale by 51,747.5% during the 2nd quarter. Strategic Financial Concepts LLC now owns 619,578 shares of the retailer’s stock worth $5,266,000 after purchasing an additional 618,383 shares during the last quarter. Finally, Public Employees Retirement Association of Colorado raised its position in shares of Costco Wholesale by 3,647.1% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 567,641 shares of the retailer’s stock worth $374,688,000 after purchasing an additional 552,492 shares during the last quarter. 68.48% of the stock is currently owned by institutional investors and hedge funds.

Costco Wholesale Stock Up 1.8 %

COST stock traded up $15.89 during midday trading on Monday, reaching $892.57. The company had a trading volume of 203,706 shares, compared to its average volume of 1,949,693. Costco Wholesale Co. has a 1 year low of $540.23 and a 1 year high of $918.93. The company has a current ratio of 0.94, a quick ratio of 0.45 and a debt-to-equity ratio of 0.27. The company has a market capitalization of $395.70 billion, a P/E ratio of 54.32, a PEG ratio of 5.33 and a beta of 0.80. The company has a 50 day moving average of $857.45 and a two-hundred day moving average of $800.74.

Costco Wholesale Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 9th. Stockholders of record on Friday, July 26th were paid a dividend of $1.16 per share. The ex-dividend date was Friday, July 26th. This represents a $4.64 annualized dividend and a dividend yield of 0.52%. Costco Wholesale’s dividend payout ratio (DPR) is 28.75%.

Analyst Upgrades and Downgrades

COST has been the subject of several research reports. TD Cowen lifted their price objective on Costco Wholesale from $850.00 to $925.00 and gave the stock a “buy” rating in a research report on Friday, July 12th. Morgan Stanley lifted their target price on shares of Costco Wholesale from $855.00 to $950.00 and gave the company an “overweight” rating in a report on Monday. BMO Capital Markets lifted their target price on shares of Costco Wholesale from $875.00 to $950.00 and gave the company an “outperform” rating in a report on Monday, August 12th. Loop Capital lifted their target price on shares of Costco Wholesale from $970.00 to $975.00 and gave the company a “buy” rating in a report on Friday. Finally, Telsey Advisory Group restated an “outperform” rating and set a $925.00 target price on shares of Costco Wholesale in a report on Friday. Seven analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $842.77.

Insider Transactions at Costco Wholesale

In related news, insider Daniel M. Hines sold 1,500 shares of the firm’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 transaction, the insider now directly owns 12,492 shares in the company, valued at approximately $10,545,746.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, 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 transaction of $1,266,300.00. Following the completion of the transaction, the insider now directly owns 12,492 shares of the company’s stock, valued at approximately $10,545,746.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kenneth D. Denman sold 350 shares of Costco Wholesale stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $851.53, for a total transaction of $298,035.50. Following the transaction, the director now directly owns 5,920 shares of the company’s stock, valued at $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 worth $4,252,856 in the last 90 days. 0.18% of the stock is owned by insiders.

Costco Wholesale Company Profile

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.