Pallas Capital Advisors LLC Has $12 Million Stake in Costco Wholesale Corporation $COST

Pallas Capital Advisors LLC decreased its position in shares of Costco Wholesale Corporation (NASDAQ:COST) by 1.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 12,118 shares of the retailer’s stock after selling 152 shares during the period. Pallas Capital Advisors LLC’s holdings in Costco Wholesale were worth $11,996,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Bulwark Capital Corp acquired a new stake in shares of Costco Wholesale during the second quarter worth approximately $25,000. Investment Management Corp VA ADV bought a new stake in shares of Costco Wholesale during the fourth quarter valued at approximately $25,000. Anderson Financial Strategies LLC grew its stake in shares of Costco Wholesale by 900.0% during 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. bought a new stake in shares of Costco Wholesale during the first quarter valued at approximately $48,000. Finally, Aspect Partners LLC grew its stake in shares of Costco Wholesale by 24.4% during 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. Institutional investors and hedge funds own 68.48% of the company’s stock.

Costco Wholesale Trading Down 0.8%

Shares of NASDAQ:COST opened at $952.07 on Wednesday. Costco Wholesale Corporation has a 12 month low of $867.16 and a 12 month high of $1,078.23. The company has a quick ratio of 0.52, a current ratio of 1.02 and a debt-to-equity ratio of 0.21. The company’s fifty day simple moving average is $959.09 and its 200 day simple moving average is $973.54. The firm has a market cap of $422.22 billion, a price-to-earnings ratio of 54.00, a PEG ratio of 5.40 and a beta of 0.97.

Costco Wholesale Dividend Announcement

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

Insiders Place Their Bets

In related news, EVP Teresa A. Jones sold 600 shares of the firm’s 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 sale, 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 sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Yoram Rubanenko sold 4,000 shares of the firm’s stock in a transaction on Monday, July 14th. The stock was sold at an average price of $974.96, for a total transaction of $3,899,840.00. Following the sale, the executive vice president owned 5,774 shares in the company, valued at approximately $5,629,419.04. The trade was a 40.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.18% of the company’s stock.

Analyst Ratings Changes

COST has been the topic of several research analyst reports. Stifel Nicolaus set a $1,035.00 price target on shares of Costco Wholesale in a research note on Thursday, May 29th. Morgan Stanley increased their price target on shares of Costco Wholesale from $1,150.00 to $1,225.00 and gave the company an “overweight” rating in a research note on Friday, May 30th. Truist Financial increased their price target on shares of Costco Wholesale from $995.00 to $1,042.00 and gave the company a “hold” rating in a research note on Friday, May 30th. Wall Street Zen raised shares of Costco Wholesale from a “hold” rating to a “buy” rating in a research note on Friday, June 6th. Finally, JPMorgan Chase & Co. increased their price target on shares of Costco Wholesale from $1,115.00 to $1,160.00 and gave the company an “overweight” rating in a research note on Thursday, August 7th. Seventeen analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat.com, Costco Wholesale has an average rating of “Moderate Buy” and an average target price of $1,056.67.

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.