Boenning & Scattergood Inc. Raises Holdings in Costco Wholesale Co. (NASDAQ:COST)

Boenning & Scattergood Inc. grew its position in Costco Wholesale Co. (NASDAQ:COSTGet Rating) by 4.0% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 10,465 shares of the retailer’s stock after purchasing an additional 400 shares during the quarter. Costco Wholesale makes up 0.9% of Boenning & Scattergood Inc.’s portfolio, making the stock its 21st biggest position. Boenning & Scattergood Inc.’s holdings in Costco Wholesale were worth $5,016,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in COST. Ford Financial Group LLC increased its position in Costco Wholesale by 2.4% during the 1st quarter. Ford Financial Group LLC now owns 821 shares of the retailer’s stock valued at $472,000 after buying an additional 19 shares in the last quarter. Fermata Advisors LLC increased its holdings in shares of Costco Wholesale by 5.1% in the first quarter. Fermata Advisors LLC now owns 394 shares of the retailer’s stock valued at $227,000 after purchasing an additional 19 shares during the period. Strategic Investment Advisors MI increased its holdings in shares of Costco Wholesale by 1.9% in the first quarter. Strategic Investment Advisors MI now owns 1,026 shares of the retailer’s stock valued at $591,000 after purchasing an additional 19 shares during the period. Gill Capital Partners LLC increased its holdings in shares of Costco Wholesale by 2.2% in the fourth quarter. Gill Capital Partners LLC now owns 909 shares of the retailer’s stock valued at $516,000 after purchasing an additional 20 shares during the period. Finally, Retirement Solution Inc. increased its holdings in shares of Costco Wholesale by 1.1% in the fourth quarter. Retirement Solution Inc. now owns 1,919 shares of the retailer’s stock valued at $1,089,000 after purchasing an additional 20 shares during the period. 66.83% of the stock is currently owned by hedge funds and other institutional investors.

Costco Wholesale Price Performance

NASDAQ:COST opened at $487.17 on Friday. The stock has a 50 day moving average price of $529.73 and a 200 day moving average price of $519.85. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.48 and a current ratio of 1.04. The stock has a market cap of $215.80 billion, a PE ratio of 38.36, a P/E/G ratio of 3.72 and a beta of 0.70. Costco Wholesale Co. has a one year low of $406.51 and a one year high of $612.27.

Costco Wholesale Cuts Dividend

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

Insider Activity

In related news, Director Kenneth D. Denman sold 300 shares of Costco Wholesale stock in a transaction on Friday, July 15th. The stock was sold at an average price of $521.68, for a total value of $156,504.00. Following the completion of the transaction, the director now directly owns 5,197 shares in the company, valued at $2,711,170.96. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, VP James P. Murphy sold 1,500 shares of the business’s stock in a transaction dated Wednesday, July 20th. The stock was sold at an average price of $525.20, for a total value of $787,800.00. Following the completion of the sale, the vice president now directly owns 36,230 shares of the company’s stock, valued at approximately $19,027,996. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kenneth D. Denman sold 300 shares of the business’s stock in a transaction dated Friday, July 15th. The shares were sold at an average price of $521.68, for a total value of $156,504.00. Following the completion of the transaction, the director now owns 5,197 shares in the company, valued at approximately $2,711,170.96. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,800 shares of company stock valued at $1,449,904. 0.22% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have recently weighed in on COST shares. Jefferies Financial Group reissued a “buy” rating and issued a $580.00 price objective on shares of Costco Wholesale in a report on Friday, July 29th. Loop Capital cut their price objective on Costco Wholesale from $610.00 to $585.00 in a report on Thursday, September 1st. The Goldman Sachs Group increased their price objective on Costco Wholesale from $516.00 to $573.00 and gave the company a “buy” rating in a report on Thursday, August 4th. Raymond James raised their target price on Costco Wholesale from $560.00 to $600.00 and gave the stock an “outperform” rating in a report on Friday, August 5th. Finally, Telsey Advisory Group dropped their target price on Costco Wholesale from $615.00 to $590.00 and set an “outperform” rating on the stock in a report on Friday, May 27th. Four investment 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, the stock currently has an average rating of “Moderate Buy” and an average price target of $575.36.

Costco Wholesale Company Profile

(Get Rating)

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.

See Also

Want to see what other hedge funds are holding COST? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Costco Wholesale Co. (NASDAQ:COSTGet Rating).

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

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