Costco Wholesale Corporation $COST Shares Sold by Adage Capital Partners GP L.L.C.

by · The Cerbat Gem

Adage Capital Partners GP L.L.C. decreased its holdings in shares of Costco Wholesale Corporation (NASDAQ:COST – Free Report) by 1.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 382,277 shares of the retailer’s stock after selling 4,918 shares during the quarter. Costco Wholesale comprises approximately 0.7% of Adage Capital Partners GP L.L.C.’s holdings, making the stock its 23rd biggest holding. Adage Capital Partners GP L.L.C. owned approximately 0.09% of Costco Wholesale worth $361,550,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in COST. Vanguard Group Inc. grew its stake in shares of Costco Wholesale by 1.0% in the first quarter. Vanguard Group Inc. now owns 42,644,711 shares of the retailer’s stock valued at $40,332,515,000 after buying an additional 443,101 shares in the last quarter. GAMMA Investing LLC boosted its holdings in Costco Wholesale by 106,402.1% in the 1st quarter. GAMMA Investing LLC now owns 8,160,190 shares of the retailer’s stock worth $7,717,744,000 after acquiring an additional 8,152,528 shares during the period. Invesco Ltd. grew its position in Costco Wholesale by 5.2% in the first quarter. Invesco Ltd. now owns 3,907,670 shares of the retailer’s stock valued at $3,695,796,000 after acquiring an additional 191,985 shares in the last quarter. Nuveen LLC purchased a new stake in shares of Costco Wholesale during the first quarter valued at approximately $3,461,159,000. Finally, Jennison Associates LLC lifted its position in shares of Costco Wholesale by 3.9% during the first quarter. Jennison Associates LLC now owns 3,357,630 shares of the retailer’s stock worth $3,175,579,000 after purchasing an additional 125,441 shares in the last quarter. 68.48% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Costco Wholesale

In other Costco Wholesale news, Director Susan L. Decker sold 547 shares of the stock in a transaction on Wednesday, June 18th. The stock was sold at an average price of $980.00, for a total value of $536,060.00. Following the sale, the director directly owned 11,531 shares of the company’s stock, valued at $11,300,380. This trade represents a 4.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Yoram Rubanenko sold 4,000 shares of the firm’s stock in a transaction on Monday, July 14th. The shares were sold at an average price of $974.96, for a total value of $3,899,840.00. Following the completion of the sale, the executive vice president owned 5,774 shares in the company, valued at $5,629,419.04. The trade was a 40.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 10,147 shares of company stock worth $10,067,740. 0.18% of the stock is owned by company insiders.

Costco Wholesale Stock Performance

COST stock opened at $943.32 on Tuesday. The firm has a market cap of $418.34 billion, a P/E ratio of 53.51, a P/E/G ratio of 5.86 and a beta of 0.97. Costco Wholesale Corporation has a 12-month low of $867.16 and a 12-month high of $1,078.23. The stock’s 50 day simple moving average is $965.20 and its 200 day simple moving average is $979.61. The company has a current ratio of 1.02, a quick ratio of 0.52 and a debt-to-equity ratio of 0.21.

Costco Wholesale Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Friday, August 1st were issued a $1.30 dividend. The ex-dividend date of this dividend was Friday, August 1st. This represents a $5.20 annualized dividend and a dividend yield of 0.6%. Costco Wholesale’s dividend payout ratio (DPR) is 29.50%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on COST shares. Wall Street Zen raised shares of Costco Wholesale from a “hold” rating to a “buy” rating in a report on Friday, June 6th. JPMorgan Chase & Co. lifted their target price on Costco Wholesale from $1,115.00 to $1,160.00 and gave the stock an “overweight” rating in a research report on Thursday, August 7th. Morgan Stanley boosted their price target on Costco Wholesale from $1,150.00 to $1,225.00 and gave the stock an “overweight” rating in a research note on Friday, May 30th. Truist Financial raised their price objective on Costco Wholesale from $995.00 to $1,042.00 and gave the company a “hold” rating in a research note on Friday, May 30th. Finally, Telsey Advisory Group reaffirmed an “outperform” rating and issued a $1,100.00 target price on shares of Costco Wholesale in a research report on Wednesday, August 27th. Seventeen research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat.com, Costco Wholesale currently has an average rating of “Moderate Buy” and a consensus price target of $1,050.00.

View Our Latest Report on COST

About Costco Wholesale

(Free Report)

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.

Further Reading

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