Baker Ellis Asset Management LLC Cuts Stake in Costco Wholesale Corporation $COST

Baker Ellis Asset Management LLC reduced its stake in shares of Costco Wholesale Corporation (NASDAQ:COST) by 1.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,636 shares of the retailer’s stock after selling 161 shares during the period. Costco Wholesale makes up approximately 1.7% of Baker Ellis Asset Management LLC’s investment portfolio, making the stock its 14th biggest holding. Baker Ellis Asset Management LLC’s holdings in Costco Wholesale were worth $12,509,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Investment Management Corp VA ADV acquired a new stake in shares of Costco Wholesale during the fourth quarter worth $25,000. Anderson Financial Strategies LLC raised 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 worth $38,000 after acquiring an additional 36 shares during the period. eCIO Inc. acquired a new position in shares of Costco Wholesale in the first quarter worth about $48,000. Aspect Partners LLC raised 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 worth $53,000 after acquiring an additional 11 shares during the period. Finally, Capital A Wealth Management LLC purchased a new stake in shares of Costco Wholesale during the fourth quarter worth about $58,000. 68.48% of the stock is currently owned by institutional investors and hedge funds.

Costco Wholesale Trading Up 0.4%

Shares of NASDAQ:COST opened at $967.90 on Monday. Costco Wholesale Corporation has a 52 week low of $867.16 and a 52 week high of $1,078.23. The company’s 50 day moving average is $960.40 and its two-hundred day moving average is $974.31. 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 cap of $429.24 billion, a PE ratio of 54.90, a P/E/G ratio of 5.45 and a beta of 0.97.

Costco Wholesale Announces Dividend

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

Analysts Set New Price Targets

A number of analysts have recently commented on COST shares. JPMorgan Chase & Co. boosted their target price on shares of Costco Wholesale from $1,115.00 to $1,160.00 and gave the stock an “overweight” rating in a research note on Thursday, August 7th. Morgan Stanley boosted their target price on shares of Costco Wholesale from $1,150.00 to $1,225.00 and gave the company an “overweight” rating in a report on Friday, May 30th. Stifel Nicolaus set a $1,035.00 target price on shares of Costco Wholesale in a report on Thursday, May 29th. Wall Street Zen upgraded shares of Costco Wholesale from a “hold” rating to a “buy” rating in a report on Friday, June 6th. Finally, Evercore ISI reduced their target price on shares of Costco Wholesale from $1,075.00 to $1,060.00 and set an “outperform” rating on the stock in a report on Tuesday, June 17th. Seventeen research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $1,056.67.

Insider Activity at Costco Wholesale

In related news, Director Susan L. Decker sold 547 shares of the stock in a transaction on Wednesday, June 18th. The shares were sold at an average price of $980.00, for a total value of $536,060.00. Following the transaction, 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 position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Teresa A. Jones sold 600 shares of the stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $992.05, for a total transaction of $595,230.00. Following the completion of the transaction, the executive vice president directly owned 2,362 shares in the company, valued at $2,343,222.10. This trade represents a 20.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,147 shares of company stock valued at $5,031,130 in the last ninety days. Insiders own 0.18% of the company’s stock.

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.