Alpha Financial Partners LLC Trims Stake in Costco Wholesale Co. (NASDAQ:COST)

Alpha Financial Partners LLC lessened its stake in Costco Wholesale Co. (NASDAQ:COST) by 2.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 938 shares of the retailer’s stock after selling 25 shares during the period. Costco Wholesale comprises approximately 0.7% of Alpha Financial Partners LLC’s investment portfolio, making the stock its 25th largest holding. Alpha Financial Partners LLC’s holdings in Costco Wholesale were worth $797,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in COST. Wulff Hansen & CO. boosted its holdings in Costco Wholesale by 99,208.6% during the second quarter. Wulff Hansen & CO. now owns 1,474,733 shares of the retailer’s stock worth $1,253,508,000 after buying an additional 1,473,248 shares in the last quarter. Global Assets Advisory LLC purchased a new stake in shares of Costco Wholesale during the 1st quarter worth about $510,353,000. Assenagon Asset Management S.A. boosted its stake in shares of Costco Wholesale by 287.3% during the 2nd quarter. Assenagon Asset Management S.A. now owns 836,247 shares of the retailer’s stock worth $710,802,000 after acquiring an additional 620,341 shares in the last quarter. Strategic Financial Concepts LLC grew its position in shares of Costco Wholesale by 51,747.5% during the 2nd quarter. Strategic Financial Concepts LLC now owns 619,578 shares of the retailer’s stock valued at $5,266,000 after acquiring an additional 618,383 shares during the period. Finally, Public Employees Retirement Association of Colorado increased its stake in shares of Costco Wholesale by 3,647.1% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 567,641 shares of the retailer’s stock valued at $374,688,000 after purchasing an additional 552,492 shares in the last quarter. Institutional investors and hedge funds own 68.48% of the company’s stock.

Costco Wholesale Price Performance

Costco Wholesale stock opened at $907.87 on Tuesday. The company has a current ratio of 0.94, a quick ratio of 0.45 and a debt-to-equity ratio of 0.27. The company has a 50-day moving average price of $862.11 and a 200 day moving average price of $807.61. Costco Wholesale Co. has a 12-month low of $540.23 and a 12-month high of $923.83. The stock has a market cap of $402.49 billion, a P/E ratio of 56.25, a PEG ratio of 5.56 and a beta of 0.80.

Costco Wholesale Announces Dividend

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

Analyst Upgrades and Downgrades

Several analysts have commented on the company. Gordon Haskett raised Costco Wholesale from an “accumulate” rating to a “buy” rating and set a $925.00 price objective on the stock in a report on Thursday, August 8th. Morgan Stanley lifted their price target on shares of Costco Wholesale from $855.00 to $950.00 and gave the company an “overweight” rating in a research note on Monday, September 9th. BMO Capital Markets boosted their price target on shares of Costco Wholesale from $875.00 to $950.00 and gave the stock an “outperform” rating in a report on Monday, August 12th. Redburn Atlantic downgraded shares of Costco Wholesale from a “buy” rating to a “neutral” rating and increased their price objective for the company from $860.00 to $890.00 in a report on Tuesday, September 10th. Finally, Tigress Financial boosted their target price on shares of Costco Wholesale from $870.00 to $975.00 and gave the stock a “buy” rating in a research note on Tuesday, June 25th. Eight equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $844.52.

Insider Activity at Costco Wholesale

In other Costco Wholesale news, insider Daniel M. Hines sold 1,500 shares of the firm’s stock in a transaction on 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 completion of the sale, the insider now owns 12,492 shares of the company’s stock, valued at $10,545,746.40. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Costco Wholesale news, 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 value of $543,430.00. Following the transaction, the director now owns 11,775 shares of the company’s stock, valued at $10,320,787.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Daniel M. Hines sold 1,500 shares of Costco Wholesale stock in a transaction dated 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 sale, the insider now owns 12,492 shares of the company’s stock, valued at $10,545,746.40. The disclosure for this sale can be found here. Over the last three months, insiders have sold 4,974 shares of company stock worth $4,252,856. Insiders own 0.18% of the company’s stock.

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.