Diversify Wealth Management LLC Acquires New Shares in Costco Wholesale Co. (NASDAQ:COST)

Diversify Wealth Management LLC acquired a new position in shares of Costco Wholesale Co. (NASDAQ:COST) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 8,149 shares of the retailer’s stock, valued at approximately $6,534,000. Costco Wholesale comprises approximately 0.8% of Diversify Wealth Management LLC’s portfolio, making the stock its 27th largest holding.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Frank Rimerman Advisors LLC bought a new position in Costco Wholesale in the 4th quarter valued at approximately $26,000. Redmont Wealth Advisors LLC bought a new position in shares of Costco Wholesale during the first quarter valued at $32,000. Vima LLC acquired a new position in shares of Costco Wholesale during the fourth quarter worth $34,000. DSM Capital Partners LLC bought a new stake in shares of Costco Wholesale in the fourth quarter worth $36,000. Finally, Financial Connections Group Inc. increased its holdings in Costco Wholesale by 557.1% in the second quarter. Financial Connections Group Inc. now owns 46 shares of the retailer’s stock valued at $39,000 after purchasing an additional 39 shares during the period. Institutional investors and hedge funds own 68.48% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on COST shares. Citigroup lifted their target price on Costco Wholesale from $710.00 to $800.00 and gave the stock a “neutral” rating in a report on Friday, May 31st. Roth Mkm reiterated a “neutral” rating and issued a $676.00 target price (up from $650.00) on shares of Costco Wholesale in a report on Friday, May 31st. Argus raised their price target on shares of Costco Wholesale from $805.00 to $900.00 and gave the stock a “buy” rating in a report on Tuesday, May 28th. Wells Fargo & Company upped their price objective on shares of Costco Wholesale from $775.00 to $800.00 and gave the company an “equal weight” rating in a research note on Thursday, July 11th. Finally, Telsey Advisory Group reissued an “outperform” rating and set a $925.00 target price on shares of Costco Wholesale in a research note on Friday, September 6th. Eight research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. Based on data from MarketBeat, Costco Wholesale has an average rating of “Moderate Buy” and a consensus target price of $844.52.

Costco Wholesale Stock Up 0.1 %

Shares of NASDAQ COST opened at $916.00 on Friday. 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 company has a 50-day moving average price of $861.57 and a 200-day moving average price of $806.04. The stock has a market capitalization of $406.09 billion, a P/E ratio of 56.75, a P/E/G ratio of 5.47 and a beta of 0.80. Costco Wholesale Co. has a 1 year low of $540.23 and a 1 year high of $923.83.

Costco Wholesale Dividend Announcement

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

Insiders Place Their Bets

In related news, Director Kenneth D. Denman sold 350 shares of Costco Wholesale stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $851.53, for a total transaction of $298,035.50. Following the transaction, the director now owns 5,920 shares of the company’s stock, valued at $5,041,057.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Costco Wholesale news, Director Kenneth D. Denman sold 350 shares of the firm’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $851.53, for a total transaction of $298,035.50. Following the transaction, the director now directly owns 5,920 shares in the company, valued at approximately $5,041,057.60. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Susan L. Decker sold 620 shares of the company’s stock in a transaction 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 completion of the sale, the director now owns 11,775 shares of the company’s stock, valued at approximately $10,320,787.50. The disclosure for this sale can be found here. In the last ninety days, insiders sold 4,974 shares of company stock valued at $4,252,856. Corporate insiders own 0.18% of the company’s stock.

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.