Texas Permanent School Fund Corp Has $62.47 Million Stock Position in Costco Wholesale Co. (NASDAQ:COST)

Texas Permanent School Fund Corp trimmed its stake in shares of Costco Wholesale Co. (NASDAQ:COST) by 19.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 73,491 shares of the retailer’s stock after selling 18,238 shares during the quarter. Costco Wholesale accounts for 0.6% of Texas Permanent School Fund Corp’s portfolio, making the stock its 18th largest holding. Texas Permanent School Fund Corp’s holdings in Costco Wholesale were worth $62,467,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Oak Asset Management LLC raised its position in Costco Wholesale by 0.3% in the 2nd quarter. Oak Asset Management LLC now owns 4,396 shares of the retailer’s stock worth $3,737,000 after purchasing an additional 12 shares during the period. Peddock Capital Advisors LLC raised its position in Costco Wholesale by 0.7% in the 2nd quarter. Peddock Capital Advisors LLC now owns 1,786 shares of the retailer’s stock worth $1,518,000 after purchasing an additional 12 shares during the period. Bedel Financial Consulting Inc. raised its position in Costco Wholesale by 1.3% in the 1st quarter. Bedel Financial Consulting Inc. now owns 995 shares of the retailer’s stock worth $729,000 after purchasing an additional 13 shares during the period. Boltwood Capital Management raised its position in Costco Wholesale by 1.7% in the 2nd quarter. Boltwood Capital Management now owns 790 shares of the retailer’s stock worth $671,000 after purchasing an additional 13 shares during the period. Finally, LifePro Asset Management raised its position in Costco Wholesale by 3.8% in the 2nd quarter. LifePro Asset Management now owns 358 shares of the retailer’s stock worth $304,000 after purchasing an additional 13 shares during the period. 68.48% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Costco Wholesale news, insider Daniel M. Hines sold 1,500 shares of the company’s stock in a transaction that occurred on 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 sale, the insider now directly owns 12,492 shares of the company’s stock, valued at $10,545,746.40. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, Director Kenneth D. Denman sold 350 shares of the company’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $851.53, for a total transaction of $298,035.50. Following 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 legal filing with the SEC, which is available through the SEC website. Also, insider Daniel M. Hines sold 1,500 shares of the company’s stock in a transaction on 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 sale, the insider now directly owns 12,492 shares in the company, valued at approximately $10,545,746.40. 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 three months. Insiders own 0.18% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Morgan Stanley raised their price target on shares of Costco Wholesale from $855.00 to $950.00 and gave the stock an “overweight” rating in a report on Monday. Deutsche Bank Aktiengesellschaft raised their price target on shares of Costco Wholesale from $925.00 to $927.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. DA Davidson reissued a “neutral” rating and issued a $780.00 price target on shares of Costco Wholesale in a report on Friday. Citigroup raised their price target on shares of Costco Wholesale from $710.00 to $800.00 and gave the stock a “neutral” rating in a report on Friday, May 31st. Finally, TD Cowen raised their price target on shares of Costco Wholesale from $850.00 to $925.00 and gave the stock a “buy” rating in a report on Friday, July 12th. Seven investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $842.77.

Costco Wholesale Stock Up 1.7 %

Costco Wholesale stock traded up $15.33 during trading hours on Monday, hitting $892.01. The stock had a trading volume of 188,121 shares, compared to its average volume of 1,949,602. The company has a quick ratio of 0.45, a current ratio of 0.94 and a debt-to-equity ratio of 0.27. The stock has a market capitalization of $395.45 billion, a P/E ratio of 54.32, a price-to-earnings-growth ratio of 5.33 and a beta of 0.80. Costco Wholesale Co. has a 12-month low of $540.23 and a 12-month high of $918.93. The stock’s 50-day moving average price is $857.45 and its 200-day moving average price is $800.74.

Costco Wholesale Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 9th. Stockholders of record on Friday, July 26th were issued 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 payout ratio is 28.75%.

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.