Los Angeles Capital Management LLC Reduces Stock Position in Costco Wholesale Co. (NASDAQ:COST)

Los Angeles Capital Management LLC decreased its position in Costco Wholesale Co. (NASDAQ:COST) by 3.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 280,543 shares of the retailer’s stock after selling 10,987 shares during the quarter. Costco Wholesale makes up 0.9% of Los Angeles Capital Management LLC’s investment portfolio, making the stock its 18th largest position. Los Angeles Capital Management LLC owned 0.06% of Costco Wholesale worth $238,459,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of COST. Frank Rimerman Advisors LLC bought a new stake in shares of Costco Wholesale in the 4th quarter worth approximately $26,000. Redmont Wealth Advisors LLC bought a new stake in shares of Costco Wholesale in the 1st quarter worth approximately $32,000. Financial Connections Group Inc. grew its position in shares of Costco Wholesale by 557.1% in 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 during the last quarter. Vima LLC bought a new stake in shares of Costco Wholesale in the 4th quarter worth approximately $34,000. Finally, DSM Capital Partners LLC bought a new stake in shares of Costco Wholesale in the 4th quarter worth approximately $36,000. 68.48% of the stock is currently owned by hedge funds and other institutional investors.

Costco Wholesale Stock Performance

Shares of COST traded down $9.30 during trading hours on Friday, hitting $876.68. The stock had a trading volume of 2,074,604 shares, compared to its average volume of 1,959,834. 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 12 month low of $540.23 and a 12 month high of $918.93. The firm 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 stock has a fifty day moving average price of $857.45 and a 200 day moving average price of $799.68.

Costco Wholesale Announces Dividend

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

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on COST. Roth Mkm reiterated a “neutral” rating and issued a $676.00 price objective (up from $650.00) on shares of Costco Wholesale in a research report on Friday, May 31st. Tigress Financial raised their target price on Costco Wholesale from $870.00 to $975.00 and gave the company a “buy” rating in a research note on Tuesday, June 25th. Evercore ISI raised their target price on Costco Wholesale from $915.00 to $925.00 and gave the company an “outperform” rating in a research note on Friday. Truist Financial raised their target price on Costco Wholesale from $815.00 to $873.00 and gave the company a “buy” rating in a research note on Friday, May 31st. Finally, StockNews.com upgraded Costco Wholesale from a “hold” rating to a “buy” rating in a research note on Friday. Seven investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $828.73.

Insider Buying and Selling

In other Costco Wholesale news, Director Kenneth D. Denman sold 350 shares of the business’s stock in a transaction dated 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 sale, the director now owns 5,920 shares of the company’s stock, valued at $5,041,057.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Daniel M. Hines sold 1,500 shares of the business’s stock in a transaction dated Friday, July 12th. The stock was 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 $10,545,746.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kenneth D. Denman sold 350 shares of the business’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $851.53, for a total value of $298,035.50. Following the completion of the transaction, the director now owns 5,920 shares in the company, valued at $5,041,057.60. The disclosure for this sale can be found here. Insiders sold 4,974 shares of company stock valued at $4,252,856 over the last 90 days. Company insiders own 0.18% of the company’s stock.

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.