Birch Hill Investment Advisors LLC Sells 3,030 Shares of Costco Wholesale Co. (NASDAQ:COST)

Birch Hill Investment Advisors LLC cut its stake in shares of Costco Wholesale Co. (NASDAQ:COSTGet Rating) by 4.9% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 58,551 shares of the retailer’s stock after selling 3,030 shares during the quarter. Costco Wholesale accounts for about 1.8% of Birch Hill Investment Advisors LLC’s portfolio, making the stock its 23rd largest position. Birch Hill Investment Advisors LLC’s holdings in Costco Wholesale were worth $28,062,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in COST. Contravisory Investment Management Inc. bought a new stake in Costco Wholesale during the 1st quarter worth approximately $26,000. Comprehensive Financial Consultants Institutional Inc. bought a new stake in Costco Wholesale during the 4th quarter worth approximately $30,000. Mystic Asset Management Inc. bought a new stake in Costco Wholesale during the 4th quarter worth approximately $40,000. Lansing Street Advisors bought a new stake in Costco Wholesale during the 1st quarter worth approximately $41,000. Finally, Cordant Inc. bought a new stake in Costco Wholesale during the 1st quarter worth approximately $47,000. 66.83% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. StockNews.com raised shares of Costco Wholesale from a “hold” rating to a “buy” rating in a report on Friday, July 15th. Loop Capital reduced their target price on shares of Costco Wholesale from $610.00 to $585.00 in a report on Thursday, September 1st. Jefferies Financial Group reaffirmed a “buy” rating and issued a $580.00 price objective on shares of Costco Wholesale in a research note on Friday, July 29th. Truist Financial upped their price objective on shares of Costco Wholesale from $543.00 to $571.00 in a research note on Thursday, August 4th. Finally, The Goldman Sachs Group upped their price objective on shares of Costco Wholesale from $516.00 to $573.00 and gave the company a “buy” rating in a research note on Thursday, August 4th. Four analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $575.36.

Costco Wholesale Stock Performance

COST opened at $487.17 on Friday. The company has a current ratio of 1.04, a quick ratio of 0.48 and a debt-to-equity ratio of 0.32. The company’s fifty day moving average price is $529.73 and its two-hundred day moving average price is $519.85. Costco Wholesale Co. has a 1-year low of $406.51 and a 1-year high of $612.27. The company has a market cap of $215.80 billion, a price-to-earnings ratio of 38.36, a PEG ratio of 3.72 and a beta of 0.70.

Costco Wholesale Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 12th. Shareholders of record on Friday, July 29th were issued a dividend of $0.09 per share. The ex-dividend date of this dividend was Thursday, July 28th. This represents a $0.36 annualized dividend and a yield of 0.07%. Costco Wholesale’s payout ratio is 28.35%.

Insiders Place Their Bets

In other Costco Wholesale news, VP James P. Murphy sold 1,500 shares of the company’s stock in a transaction on Wednesday, July 20th. The shares were sold at an average price of $525.20, for a total transaction of $787,800.00. Following the transaction, the vice president now owns 36,230 shares in the company, valued at $19,027,996. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, CFO Richard A. Galanti sold 1,000 shares of the stock in a transaction dated Thursday, July 14th. The shares were sold at an average price of $505.60, for a total value of $505,600.00. Following the completion of the sale, the chief financial officer now owns 25,750 shares in the company, valued at $13,019,200. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP James P. Murphy sold 1,500 shares of the stock in a transaction dated Wednesday, July 20th. The shares were sold at an average price of $525.20, for a total transaction of $787,800.00. Following the completion of the sale, the vice president now owns 36,230 shares of the company’s stock, valued at approximately $19,027,996. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 2,800 shares of company stock worth $1,449,904. Insiders own 0.22% of the company’s stock.

About Costco Wholesale

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Costco Wholesale Corporation, together with its subsidiaries, engages in the operation of membership warehouses in the United States, Puerto Rico, Canada, the United Kingdom, Mexico, Japan, Korea, Australia, Spain, France, Iceland, China, and Taiwan. It offers branded and private-label products in a range of merchandise categories.

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Institutional Ownership by Quarter for Costco Wholesale (NASDAQ:COST)

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