Commonwealth Retirement Investments LLC Lowers Stock Holdings in Costco Wholesale Co. (NASDAQ:COST)

Commonwealth Retirement Investments LLC cut its holdings in shares of Costco Wholesale Co. (NASDAQ:COST) by 0.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,082 shares of the retailer’s stock after selling 47 shares during the quarter. Costco Wholesale comprises approximately 2.0% of Commonwealth Retirement Investments LLC’s portfolio, making the stock its 16th biggest holding. Commonwealth Retirement Investments LLC’s holdings in Costco Wholesale were worth $4,320,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Frank Rimerman Advisors LLC purchased a new stake in shares of Costco Wholesale during the 4th quarter valued at $26,000. Redmont Wealth Advisors LLC acquired a new position in Costco Wholesale in the first quarter valued at $32,000. Vima LLC purchased a new stake in Costco Wholesale during the fourth quarter valued at about $34,000. DSM Capital Partners LLC acquired a new stake in Costco Wholesale during the fourth quarter worth about $36,000. Finally, Financial Connections Group Inc. raised its holdings 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 purchasing an additional 39 shares during the period. 68.48% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on COST. StockNews.com upgraded Costco Wholesale from a “hold” rating to a “buy” rating in a report on Friday. Evercore ISI increased their price objective on shares of Costco Wholesale from $915.00 to $925.00 and gave the stock an “outperform” rating in a research report on Friday. Citigroup lifted their target price on shares of Costco Wholesale from $710.00 to $800.00 and gave the company a “neutral” rating in a report on Friday, May 31st. Telsey Advisory Group reiterated an “outperform” rating and issued a $925.00 price target on shares of Costco Wholesale in a report on Friday. Finally, Gordon Haskett upgraded Costco Wholesale from an “accumulate” rating to a “buy” rating and set a $925.00 price objective on the stock in a research note on Thursday, August 8th. Seven research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $828.73.

Insider Buying and Selling at Costco Wholesale

In other news, Director Susan L. Decker sold 620 shares of Costco Wholesale stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $876.50, for a total value 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 approximately $10,320,787.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, Director Susan L. Decker sold 620 shares of the stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $876.50, for a total transaction of $543,430.00. Following the sale, the director now directly owns 11,775 shares in the company, valued at approximately $10,320,787.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kenneth D. Denman sold 350 shares of the firm’s stock in a transaction that occurred on 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 directly owns 5,920 shares in the company, valued at approximately $5,041,057.60. The disclosure for this sale can be found here. Insiders sold a total of 4,974 shares of company stock worth $4,252,856 over the last 90 days. Insiders own 0.18% of the company’s stock.

Costco Wholesale Trading Down 1.0 %

NASDAQ:COST opened at $876.68 on Friday. Costco Wholesale Co. has a 52 week low of $540.23 and a 52 week high of $918.93. 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 company has a market cap of $388.66 billion, a PE ratio of 54.32, a P/E/G ratio of 5.98 and a beta of 0.80. The business’s 50 day moving average is $857.45 and its two-hundred day moving average is $799.68.

Costco Wholesale Dividend Announcement

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