Prestige Wealth Management Group LLC Sells 145 Shares of Costco Wholesale Co. (NASDAQ:COST)

Prestige Wealth Management Group LLC reduced its holdings in shares of Costco Wholesale Co. (NASDAQ:COST) by 5.3% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,608 shares of the retailer’s stock after selling 145 shares during the quarter. Prestige Wealth Management Group LLC’s holdings in Costco Wholesale were worth $2,217,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Triasima Portfolio Management inc. increased its holdings in shares of Costco Wholesale by 62.1% in the second quarter. Triasima Portfolio Management inc. now owns 5,165 shares of the retailer’s stock valued at $4,390,000 after purchasing an additional 1,979 shares during the last quarter. Ballentine Partners LLC boosted its holdings in shares of Costco Wholesale by 5.6% during the 2nd quarter. Ballentine Partners LLC now owns 9,508 shares of the retailer’s stock worth $8,082,000 after buying an additional 500 shares during the period. Arlington Trust Co LLC boosted its holdings in shares of Costco Wholesale by 4.2% during the 2nd quarter. Arlington Trust Co LLC now owns 2,829 shares of the retailer’s stock worth $2,405,000 after buying an additional 115 shares during the period. Caprock Group LLC grew its stake in Costco Wholesale by 68.7% in the 2nd quarter. Caprock Group LLC now owns 12,075 shares of the retailer’s stock valued at $10,264,000 after buying an additional 4,918 shares during the last quarter. Finally, Lynch & Associates IN raised its holdings in Costco Wholesale by 7.5% in the 2nd quarter. Lynch & Associates IN now owns 360 shares of the retailer’s stock valued at $306,000 after acquiring an additional 25 shares during the period. Institutional investors own 68.48% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on COST. Oppenheimer upped their target price on Costco Wholesale from $925.00 to $955.00 and gave the company an “outperform” rating in a research report on Friday. Tigress Financial upped their price objective on Costco Wholesale from $870.00 to $975.00 and gave the company a “buy” rating in a report on Tuesday, June 25th. Loop Capital lifted their target price on Costco Wholesale from $970.00 to $975.00 and gave the stock a “buy” rating in a report on Friday. BMO Capital Markets boosted their target price on shares of Costco Wholesale from $875.00 to $950.00 and gave the company an “outperform” rating in a research report on Monday, August 12th. Finally, StockNews.com raised shares of Costco Wholesale from a “hold” rating to a “buy” rating in a research report on Friday. Seven equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. Based on data from MarketBeat.com, Costco Wholesale has a consensus rating of “Moderate Buy” and a consensus target price of $828.73.

Costco Wholesale Price Performance

Shares of COST stock traded down $9.30 on Friday, hitting $876.68. 2,074,604 shares of the company’s stock were exchanged, compared to its average volume of 1,959,834. The company has a 50 day moving average of $857.45 and a 200 day moving average of $800.19. The stock has a market cap 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. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.94 and a quick ratio of 0.45. Costco Wholesale Co. has a 12 month low of $540.23 and a 12 month high of $918.93.

Costco Wholesale Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 9th. Shareholders of record on Friday, July 26th were given a $1.16 dividend. The ex-dividend date was Friday, July 26th. This represents a $4.64 dividend on an annualized basis and a yield of 0.53%. Costco Wholesale’s dividend payout ratio is currently 28.75%.

Insider Activity at Costco Wholesale

In other 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 directly owns 12,492 shares in the company, valued at $10,545,746.40. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, insider Daniel M. Hines sold 1,500 shares of Costco Wholesale stock in a transaction that occurred on 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 directly owns 12,492 shares in the company, valued at approximately $10,545,746.40. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Kenneth D. Denman sold 350 shares of the company’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $851.53, for a total transaction of $298,035.50. Following the completion of the transaction, the director now owns 5,920 shares of the company’s stock, valued at $5,041,057.60. The disclosure for this sale can be found here. Insiders have sold a total of 4,974 shares of company stock valued at $4,252,856 in the last 90 days. 0.18% of the stock is owned by corporate insiders.

About Costco Wholesale

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.