Cibc World Markets Corp trimmed its holdings in Costco Wholesale Co. (NASDAQ:COST) by 77.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 35,489 shares of the retailer’s stock after selling 124,063 shares during the quarter. Cibc World Markets Corp’s holdings in Costco Wholesale were worth $14,042,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Baillie Gifford & Co. purchased a new position in Costco Wholesale during the 2nd quarter worth $31,000. KB Financial Partners LLC purchased a new position in Costco Wholesale during the 1st quarter worth $35,000. Sage Financial Management Group Inc. purchased a new position in Costco Wholesale during the 1st quarter worth $38,000. West Financial Advisors LLC increased its holdings in Costco Wholesale by 100.0% during the 2nd quarter. West Financial Advisors LLC now owns 100 shares of the retailer’s stock worth $40,000 after purchasing an additional 50 shares during the period. Finally, PNC Managed Account Solutions Inc. purchased a new position in Costco Wholesale during the 2nd quarter worth $42,000. Hedge funds and other institutional investors own 66.96% of the company’s stock.
In related news, VP Roland Michael Vachris sold 4,000 shares of Costco Wholesale stock in a transaction dated Monday, July 12th. The stock was sold at an average price of $409.40, for a total value of $1,637,600.00. Following the completion of the transaction, the vice president now owns 11,602 shares in the company, valued at approximately $4,749,858.80. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Joseph P. Portera sold 3,287 shares of Costco Wholesale stock in a transaction dated Friday, August 13th. The shares were sold at an average price of $445.50, for a total value of $1,464,358.50. The disclosure for this sale can be found here. Insiders have sold a total of 11,287 shares of company stock valued at $4,686,519 in the last quarter. Company insiders own 0.22% of the company’s stock.
The business also recently disclosed a quarterly dividend, which was paid on Friday, August 13th. Shareholders of record on Friday, July 30th were paid a dividend of $0.79 per share. The ex-dividend date was Thursday, July 29th. This represents a $3.16 dividend on an annualized basis and a dividend yield of 0.69%. Costco Wholesale’s payout ratio is currently 35.71%.
Several research analysts have commented on the company. Zacks Investment Research upgraded Costco Wholesale from a “hold” rating to a “buy” rating and set a $490.00 price objective on the stock in a report on Monday, September 6th. Jefferies Financial Group lifted their price target on Costco Wholesale from $500.00 to $525.00 and gave the company a “buy” rating in a report on Thursday, September 2nd. DA Davidson lifted their price target on Costco Wholesale from $350.00 to $390.00 and gave the company a “neutral” rating in a report on Thursday, August 5th. Raymond James lifted their price target on Costco Wholesale from $415.00 to $460.00 and gave the company an “outperform” rating in a report on Thursday, August 5th. Finally, Wells Fargo & Company lifted their price target on Costco Wholesale from $415.00 to $480.00 and gave the company an “overweight” rating in a report on Thursday, August 5th. Eight investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat, Costco Wholesale has an average rating of “Buy” and a consensus price target of $441.32.
About Costco Wholesale
Costco Wholesale Corp. engages in the operation of membership warehouses. Its product categories include food and sundries, hardlines, fresh foods, softlines, and ancillary. It operates through the following segments: Unites States Operations, Canadian Operations, and Other International Operations. The company was founded by James D.
Want to see what other hedge funds are holding COST? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Costco Wholesale Co. (NASDAQ:COST).
Receive News & Ratings for Costco Wholesale Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Costco Wholesale and related companies with MarketBeat.com's FREE daily email newsletter.