Costco Wholesale Corporation $COST Shares Sold by Redwood Investments LLC

by · The Markets Daily

Redwood Investments LLC reduced its holdings in shares of Costco Wholesale Corporation (NASDAQ:COST – Free Report) by 5.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,146 shares of the retailer’s stock after selling 112 shares during the period. Redwood Investments LLC’s holdings in Costco Wholesale were worth $2,030,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the business. Investment Management Corp VA ADV acquired a new stake in shares of Costco Wholesale in the fourth quarter valued at $25,000. Aspect Partners LLC increased its holdings in Costco Wholesale by 24.4% during the 1st quarter. Aspect Partners LLC now owns 56 shares of the retailer’s stock worth $53,000 after purchasing an additional 11 shares during the period. Capital A Wealth Management LLC purchased a new stake in Costco Wholesale during the 4th quarter worth about $58,000. Mascagni Wealth Management Inc. acquired a new stake in Costco Wholesale in the 4th quarter valued at about $59,000. Finally, Bank & Trust Co boosted its stake in shares of Costco Wholesale by 20.4% in the 1st quarter. Bank & Trust Co now owns 65 shares of the retailer’s stock valued at $61,000 after buying an additional 11 shares during the period. 68.48% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on COST shares. Morgan Stanley upped their target price on shares of 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. Erste Group Bank cut shares of Costco Wholesale from a “buy” rating to a “hold” rating in a report on Tuesday, August 5th. Stifel Nicolaus set a $1,035.00 price objective on shares of Costco Wholesale in a research report on Thursday, May 29th. Telsey Advisory Group reaffirmed an “outperform” rating and set a $1,100.00 price objective on shares of Costco Wholesale in a research report on Wednesday, August 27th. Finally, Evercore ISI lowered their target price on shares of Costco Wholesale from $1,075.00 to $1,060.00 and set an “outperform” rating for the company in a research note on Tuesday, June 17th. Seventeen research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. According to MarketBeat, Costco Wholesale presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,050.00.

Read Our Latest Stock Report on COST

Insider Buying and Selling at Costco Wholesale

In other Costco Wholesale news, EVP Teresa A. Jones sold 600 shares of the firm’s stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $992.05, for a total transaction of $595,230.00. Following the transaction, the executive vice president owned 2,362 shares of the company’s stock, valued at approximately $2,343,222.10. This trade represents a 20.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Yoram Rubanenko sold 4,000 shares of Costco Wholesale stock in a transaction dated Monday, July 14th. The stock was sold at an average price of $974.96, for a total value of $3,899,840.00. Following the sale, the executive vice president owned 5,774 shares in the company, valued at $5,629,419.04. This trade represents a 40.92% decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,147 shares of company stock worth $5,031,130 over the last 90 days. Corporate insiders own 0.18% of the company’s stock.

Costco Wholesale Stock Up 0.8%

Shares of NASDAQ:COST opened at $963.48 on Monday. The firm has a 50 day simple moving average of $962.23 and a 200-day simple moving average of $976.69. Costco Wholesale Corporation has a twelve month low of $867.16 and a twelve month high of $1,078.23. The company has a current ratio of 1.02, a quick ratio of 0.52 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $427.28 billion, a PE ratio of 54.65, a P/E/G ratio of 5.42 and a beta of 0.97.

Costco Wholesale Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Friday, August 1st were given a $1.30 dividend. The ex-dividend date of this dividend was Friday, August 1st. This represents a $5.20 dividend on an annualized basis and a yield of 0.5%. Costco Wholesale’s payout ratio is 29.50%.

Costco Wholesale Company Profile

(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.

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