Parallel Advisors LLC Trims Stock Holdings in Costco Wholesale Co. (NASDAQ:COST)

Parallel Advisors LLC reduced its position in Costco Wholesale Co. (NASDAQ:COST) by 1.5% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 45,511 shares of the retailer’s stock after selling 691 shares during the quarter. Costco Wholesale comprises approximately 1.0% of Parallel Advisors LLC’s portfolio, making the stock its 17th biggest position. Parallel Advisors LLC’s holdings in Costco Wholesale were worth $38,684,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. Main Street Financial Solutions LLC lifted its position in Costco Wholesale by 4.7% during the 4th quarter. Main Street Financial Solutions LLC now owns 1,763 shares of the retailer’s stock worth $1,164,000 after acquiring an additional 79 shares during the period. Zhang Financial LLC lifted its holdings in shares of Costco Wholesale by 3.8% during the first quarter. Zhang Financial LLC now owns 1,010 shares of the retailer’s stock worth $740,000 after purchasing an additional 37 shares during the period. Strong Tower Advisory Services grew its position in Costco Wholesale by 7.9% in the 1st quarter. Strong Tower Advisory Services now owns 1,867 shares of the retailer’s stock valued at $1,346,000 after buying an additional 137 shares during the last quarter. Aigen Investment Management LP acquired a new position in Costco Wholesale in the 4th quarter valued at $3,871,000. Finally, Parcion Private Wealth LLC raised its position in Costco Wholesale by 30.8% during the 2nd quarter. Parcion Private Wealth LLC now owns 5,596 shares of the retailer’s stock worth $4,757,000 after buying an additional 1,319 shares during the last quarter. 68.48% of the stock is currently owned by hedge funds and other institutional investors.

Costco Wholesale Stock Up 0.1 %

Shares of NASDAQ:COST 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 stock has a 50-day simple moving average of $861.57 and a 200-day simple moving average of $805.62. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.45 and a current ratio of 0.94. The stock has a market capitalization of $406.09 billion, a P/E ratio of 56.75, a PEG ratio of 5.47 and a beta of 0.80.

Costco Wholesale Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 9th. Shareholders of record on Friday, July 26th were given a $1.16 dividend. This represents a $4.64 annualized dividend and a yield of 0.51%. The ex-dividend date was Friday, July 26th. Costco Wholesale’s dividend payout ratio (DPR) is presently 28.75%.

Insider Transactions at Costco Wholesale

In other Costco Wholesale news, Director Kenneth D. Denman sold 350 shares of the stock in a transaction that occurred on 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 sale, the director now owns 5,920 shares of the company’s stock, valued at $5,041,057.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Kenneth D. Denman sold 350 shares of the firm’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 directly owns 5,920 shares in the company, valued at $5,041,057.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Richard A. Galanti sold 500 shares of the business’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $863.88, for a total value of $431,940.00. Following the completion of the transaction, the executive vice president now owns 23,800 shares in the company, valued at approximately $20,560,344. 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 quarter. Company insiders own 0.18% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on COST. StockNews.com upgraded Costco Wholesale from a “hold” rating to a “buy” rating in a research note on Friday, September 6th. Gordon Haskett upgraded shares of Costco Wholesale from an “accumulate” rating to a “buy” rating and set a $925.00 target price on the stock in a research report on Thursday, August 8th. Truist Financial increased their price target on shares of Costco Wholesale from $815.00 to $873.00 and gave the company a “buy” rating in a report on Friday, May 31st. Wells Fargo & Company boosted their price objective on shares of Costco Wholesale from $775.00 to $800.00 and gave the stock an “equal weight” rating in a report on Thursday, July 11th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on shares of Costco Wholesale from $925.00 to $927.00 and gave the company a “buy” rating in a report on Thursday, August 8th. Eight equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $844.52.

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.