Kennedy Investment Group Sells 222 Shares of Costco Wholesale Corporation $COST

Kennedy Investment Group reduced its holdings in Costco Wholesale Corporation (NASDAQ:COST) by 10.7% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,849 shares of the retailer’s stock after selling 222 shares during the quarter. Costco Wholesale comprises 0.8% of Kennedy Investment Group’s portfolio, making the stock its 29th biggest holding. Kennedy Investment Group’s holdings in Costco Wholesale were worth $1,831,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Bulwark Capital Corp acquired a new stake in shares of Costco Wholesale in the second quarter valued at about $25,000. Anderson Financial Strategies LLC grew its position in shares of Costco Wholesale by 900.0% in the first quarter. Anderson Financial Strategies LLC now owns 40 shares of the retailer’s stock valued at $38,000 after purchasing an additional 36 shares during the last quarter. eCIO Inc. acquired a new stake in shares of Costco Wholesale in the first quarter valued at about $48,000. Aspect Partners LLC grew its position in shares of Costco Wholesale by 24.4% in the first quarter. Aspect Partners LLC now owns 56 shares of the retailer’s stock valued at $53,000 after purchasing an additional 11 shares during the last quarter. Finally, Mascagni Wealth Management Inc. acquired a new stake in shares of Costco Wholesale in the fourth quarter valued at about $59,000. 68.48% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Costco Wholesale

In other Costco Wholesale news, EVP Yoram Rubanenko sold 4,000 shares of the firm’s stock in a transaction dated Monday, July 14th. The shares were sold at an average price of $974.96, for a total transaction of $3,899,840.00. Following the completion of the transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, 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 represents a 20.26% decrease in their position. The disclosure for this sale can be found here. 0.18% of the stock is owned by company insiders.

Costco Wholesale Stock Up 0.2%

Shares of COST opened at $945.27 on Thursday. The stock has a market cap of $419.21 billion, a price-to-earnings ratio of 53.62, a P/E/G ratio of 5.30 and a beta of 0.97. The company has a quick ratio of 0.52, a current ratio of 1.02 and a debt-to-equity ratio of 0.21. Costco Wholesale Corporation has a 12 month low of $867.16 and a 12 month high of $1,078.23. The company has a 50-day moving average price of $956.61 and a two-hundred day moving average price of $970.80.

Costco Wholesale Announces Dividend

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

Analysts Set New Price Targets

COST has been the topic of several research analyst reports. Loop Capital lowered their price target on Costco Wholesale from $1,115.00 to $1,110.00 and set a “buy” rating on the stock in a research report on Thursday, May 29th. Truist Financial lifted their target price on Costco Wholesale from $995.00 to $1,042.00 and gave the stock a “hold” rating in a research report on Friday, May 30th. Wall Street Zen raised Costco Wholesale from a “hold” rating to a “buy” rating in a research report on Friday, June 6th. Morgan Stanley lifted their target price on Costco Wholesale from $1,150.00 to $1,225.00 and gave the stock an “overweight” rating in a research report on Friday, May 30th. Finally, Telsey Advisory Group reissued an “outperform” rating and set a $1,100.00 target price on shares of Costco Wholesale in a research report on Wednesday. Seventeen equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat.com, Costco Wholesale currently has a consensus rating of “Moderate Buy” and an average price target of $1,061.30.

Costco Wholesale 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.