Arizona State Retirement System Buys 1,239 Shares of Costco Wholesale Co. (NASDAQ:COST)

Arizona State Retirement System increased its holdings in shares of Costco Wholesale Co. (NASDAQ:COST) by 1.0% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 128,574 shares of the retailer’s stock after acquiring an additional 1,239 shares during the period. Costco Wholesale comprises approximately 0.7% of Arizona State Retirement System’s holdings, making the stock its 17th largest holding. Arizona State Retirement System’s holdings in Costco Wholesale were worth $109,287,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of COST. Frank Rimerman Advisors LLC bought a new stake in Costco Wholesale during the 4th quarter worth approximately $26,000. Redmont Wealth Advisors LLC bought a new stake in Costco Wholesale during the 1st quarter worth approximately $32,000. Vima LLC bought a new stake in Costco Wholesale during the 4th quarter worth approximately $34,000. DSM Capital Partners LLC bought a new stake in Costco Wholesale during the 4th quarter worth approximately $36,000. Finally, Financial Connections Group Inc. grew its position in 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 acquiring an additional 39 shares during the last quarter. 68.48% of the stock is currently owned by institutional investors.

Costco Wholesale Stock Performance

Shares of COST stock opened at $885.37 on Friday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.45 and a current ratio of 0.94. Costco Wholesale Co. has a 52 week low of $540.23 and a 52 week high of $918.93. The company’s 50 day moving average price is $856.92 and its two-hundred day moving average price is $798.62. The company has a market capitalization of $392.51 billion, a P/E ratio of 54.89, a price-to-earnings-growth ratio of 5.98 and a beta of 0.80.

Costco Wholesale Announces Dividend

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

Wall Street Analyst Weigh In

A number of research firms recently commented on COST. Argus increased their price target on Costco Wholesale from $805.00 to $900.00 and gave the stock a “buy” rating in a research report on Tuesday, May 28th. Bank of America increased their price objective on Costco Wholesale from $874.00 to $962.00 and gave the company a “buy” rating in a research report on Thursday, July 11th. Telsey Advisory Group reiterated an “outperform” rating and issued a $925.00 price objective on shares of Costco Wholesale in a research report on Tuesday, August 27th. TD Cowen increased their price objective on Costco Wholesale from $850.00 to $925.00 and gave the company a “buy” rating in a research report on Friday, July 12th. Finally, Wells Fargo & Company increased their price objective on Costco Wholesale from $775.00 to $800.00 and gave the company an “equal weight” rating in a research report on Thursday, July 11th. Eight investment analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $826.04.

Insider Buying and Selling at Costco Wholesale

In other news, Director Susan L. Decker sold 620 shares of the company’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $876.50, for a total transaction of $543,430.00. Following the completion of the transaction, the director now directly owns 11,775 shares of the company’s stock, valued at $10,320,787.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Daniel M. Hines sold 1,500 shares of the business’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 transaction, the insider now directly owns 12,492 shares in the company, valued at $10,545,746.40. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Susan L. Decker sold 620 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $876.50, for a total transaction of $543,430.00. Following the completion of the sale, the director now directly owns 11,775 shares in the company, valued at $10,320,787.50. The disclosure for this sale can be found here. Insiders have sold 4,974 shares of company stock valued at $4,252,856 in the last 90 days. 0.18% of the stock is currently owned by company 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.