OV Management LLC Increases Stock Position in Costco Wholesale Co. (NASDAQ:COST)

OV Management LLC raised its position in shares of Costco Wholesale Co. (NASDAQ:COST) by 1.4% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,129 shares of the retailer’s stock after buying an additional 29 shares during the period. Costco Wholesale comprises about 1.3% of OV Management LLC’s investment portfolio, making the stock its 22nd biggest holding. OV Management LLC’s holdings in Costco Wholesale were worth $1,810,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Frank Rimerman Advisors LLC bought a new position in Costco Wholesale in the 4th quarter worth $26,000. Redmont Wealth Advisors LLC bought a new position in shares of Costco Wholesale in the 1st quarter worth about $32,000. Financial Connections Group Inc. increased its stake 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 acquiring an additional 39 shares in the last quarter. Vima LLC bought a new position in shares of Costco Wholesale in the 4th quarter worth about $34,000. Finally, DSM Capital Partners LLC bought a new position in shares of Costco Wholesale in the 4th quarter worth about $36,000. 68.48% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director Susan L. Decker sold 620 shares of Costco Wholesale stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $876.50, for a total value of $543,430.00. Following the transaction, the director now directly owns 11,775 shares in the company, valued at approximately $10,320,787.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Costco Wholesale 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 transaction of $1,266,300.00. Following the sale, the insider now owns 12,492 shares in the company, valued at approximately $10,545,746.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Susan L. Decker sold 620 shares of the firm’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $876.50, for a total transaction of $543,430.00. Following the sale, the director now owns 11,775 shares in the company, valued at approximately $10,320,787.50. 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. Company insiders own 0.18% of the company’s stock.

Costco Wholesale Stock Up 0.1 %

Shares of Costco Wholesale stock opened at $916.00 on Friday. Costco Wholesale Co. has a 1 year low of $540.23 and a 1 year high of $923.83. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.94 and a quick ratio of 0.45. The stock has a market cap of $406.09 billion, a price-to-earnings ratio of 56.75, a PEG ratio of 5.47 and a beta of 0.80. The firm’s 50-day moving average is $861.57 and its two-hundred day moving average is $805.62.

Costco Wholesale Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 9th. Investors of record on Friday, July 26th were issued a dividend of $1.16 per share. This represents a $4.64 annualized dividend and a yield of 0.51%. The ex-dividend date of this dividend was Friday, July 26th. Costco Wholesale’s payout ratio is 28.75%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on COST. Tigress Financial raised their price target on shares of Costco Wholesale from $870.00 to $975.00 and gave the company a “buy” rating in a report on Tuesday, June 25th. Telsey Advisory Group restated an “outperform” rating and set a $925.00 target price on shares of Costco Wholesale in a research note on Friday, September 6th. Morgan Stanley raised their target price on shares of Costco Wholesale from $855.00 to $950.00 and gave the stock an “overweight” rating in a research note on Monday, September 9th. TD Cowen raised their target price on shares of Costco Wholesale from $850.00 to $925.00 and gave the stock a “buy” rating in a research note on Friday, July 12th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on shares of Costco Wholesale from $925.00 to $927.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. Eight research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $844.52.

Costco Wholesale 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.