Financial Gravity Asset Management Inc. Sells 23 Shares of Costco Wholesale Co. (NASDAQ:COST)

Financial Gravity Asset Management Inc. cut its stake in Costco Wholesale Co. (NASDAQ:COST) by 14.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 138 shares of the retailer’s stock after selling 23 shares during the period. Financial Gravity Asset Management Inc.’s holdings in Costco Wholesale were worth $117,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in COST. Gilbert & Cook Inc. grew its stake in Costco Wholesale by 57.3% during the fourth quarter. Gilbert & Cook Inc. now owns 626 shares of the retailer’s stock worth $413,000 after purchasing an additional 228 shares during the period. Aveo Capital Partners LLC grew its position in shares of Costco Wholesale by 14.5% during the 4th quarter. Aveo Capital Partners LLC now owns 1,065 shares of the retailer’s stock worth $703,000 after buying an additional 135 shares during the period. Gryphon Financial Partners LLC grew its position in shares of Costco Wholesale by 62.6% during the 4th quarter. Gryphon Financial Partners LLC now owns 3,309 shares of the retailer’s stock worth $2,184,000 after buying an additional 1,274 shares during the period. Versor Investments LP bought a new stake in shares of Costco Wholesale in the 4th quarter valued at $669,000. Finally, Dana Investment Advisors Inc. lifted its position in shares of Costco Wholesale by 6.7% during the 4th quarter. Dana Investment Advisors Inc. now owns 8,700 shares of the retailer’s stock valued at $5,743,000 after acquiring an additional 546 shares during the period. Institutional investors and hedge funds own 68.48% of the company’s stock.

Wall Street Analyst Weigh In

COST has been the subject of a number of research reports. Oppenheimer lifted their price target on shares of Costco Wholesale from $925.00 to $955.00 and gave the company an “outperform” rating in a research note on Friday. Citigroup boosted their target price on Costco Wholesale from $710.00 to $800.00 and gave the company a “neutral” rating in a research report on Friday, May 31st. BMO Capital Markets increased their price target on Costco Wholesale from $875.00 to $950.00 and gave the stock an “outperform” rating in a report on Monday, August 12th. TD Cowen boosted their price objective on Costco Wholesale from $850.00 to $925.00 and gave the company a “buy” rating in a report on Friday, July 12th. Finally, Barclays increased their target price on Costco Wholesale from $765.00 to $830.00 and gave the stock an “equal weight” rating in a report on Thursday, July 11th. Seven investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $828.73.

Insider Activity

In related 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 value of $1,266,300.00. Following the sale, the insider now directly owns 12,492 shares in the company, valued at approximately $10,545,746.40. 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 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 completion of the transaction, the insider now owns 12,492 shares in the company, valued at $10,545,746.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Susan L. Decker sold 620 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the director now directly owns 11,775 shares in the company, valued at approximately $10,320,787.50. The disclosure for this sale can be found here. Insiders have sold 4,974 shares of company stock valued at $4,252,856 in the last 90 days. Insiders own 0.18% of the company’s stock.

Costco Wholesale Price Performance

Shares of NASDAQ:COST opened at $876.68 on Friday. Costco Wholesale Co. has a fifty-two week low of $540.23 and a fifty-two week high of $918.93. The company’s 50-day moving average is $857.45 and its 200 day moving average is $800.19. 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 company has a market capitalization of $388.66 billion, a P/E ratio of 54.32, a price-to-earnings-growth ratio of 5.98 and a beta of 0.80.

Costco Wholesale Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 9th. Shareholders of record on Friday, July 26th were paid a $1.16 dividend. The ex-dividend date was Friday, July 26th. This represents a $4.64 annualized dividend and a dividend yield of 0.53%. Costco Wholesale’s 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.