Pittenger & Anderson Inc. Sells 305 Shares of Costco Wholesale Co. (COST)
Pittenger & Anderson Inc. decreased its stake in shares of Costco Wholesale Co. (NASDAQ:COST) by 0.7% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 45,763 shares of the retailer’s stock after selling 305 shares during the period. Costco Wholesale accounts for approximately 0.8% of Pittenger & Anderson Inc.’s portfolio, making the stock its 23rd biggest position. Pittenger & Anderson Inc.’s holdings in Costco Wholesale were worth $9,564,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently modified their holdings of COST. FMR LLC increased its holdings in Costco Wholesale by 13.5% during the 2nd quarter. FMR LLC now owns 10,570,895 shares of the retailer’s stock worth $2,209,107,000 after purchasing an additional 1,256,873 shares during the period. Epoch Investment Partners Inc. increased its holdings in Costco Wholesale by 1,913.8% during the 1st quarter. Epoch Investment Partners Inc. now owns 1,146,393 shares of the retailer’s stock worth $216,015,000 after purchasing an additional 1,089,467 shares during the period. Carmignac Gestion purchased a new stake in Costco Wholesale during the 1st quarter worth about $169,704,000. BlackRock Inc. increased its holdings in Costco Wholesale by 3.3% during the 2nd quarter. BlackRock Inc. now owns 27,121,793 shares of the retailer’s stock worth $5,667,910,000 after purchasing an additional 858,755 shares during the period. Finally, Westfield Capital Management Co. LP purchased a new stake in Costco Wholesale during the 1st quarter worth about $70,796,000. Institutional investors own 71.49% of the company’s stock.
Several equities research analysts have weighed in on COST shares. Oppenheimer upped their price target on Costco Wholesale from $210.00 to $250.00 and gave the stock an “outperform” rating in a report on Tuesday, August 21st. Loop Capital set a $265.00 price target on Costco Wholesale and gave the stock a “buy” rating in a report on Thursday, September 6th. Royal Bank of Canada upped their price target on Costco Wholesale to $213.00 and gave the stock an “outperform” rating in a report on Tuesday, May 29th. Robert W. Baird upped their price target on Costco Wholesale from $230.00 to $250.00 and gave the stock an “outperform” rating in a report on Tuesday, September 4th. Finally, Cowen restated a “buy” rating and set a $240.00 price target on shares of Costco Wholesale in a report on Friday, August 10th. Eight equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $223.94.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 14th. Stockholders of record on Friday, August 31st will be issued a $0.57 dividend. The ex-dividend date is Thursday, August 30th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 0.97%. Costco Wholesale’s payout ratio is currently 39.18%.
In related news, Director John W. Meisenbach sold 3,000 shares of the company’s stock in a transaction dated Tuesday, September 4th. The stock was sold at an average price of $233.14, for a total value of $699,420.00. Following the completion of the sale, the director now directly owns 8,654 shares of the company’s stock, valued at approximately $2,017,593.56. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Paul G. Moulton sold 5,585 shares of the company’s stock in a transaction dated Monday, June 18th. The shares were sold at an average price of $206.83, for a total value of $1,155,145.55. Following the completion of the sale, the vice president now directly owns 27,988 shares of the company’s stock, valued at $5,788,758.04. The disclosure for this sale can be found here. In the last quarter, insiders sold 29,585 shares of company stock worth $6,424,076. Company insiders own 0.74% of the company’s stock.
Costco Wholesale Profile
Costco Wholesale Corporation, together with its subsidiaries, operates membership warehouses. It offers branded and private-label products in a range of merchandise categories. The company provides dry and packaged foods, and groceries; snack foods, candies, alcoholic and nonalcoholic beverages, and cleaning supplies; appliances, electronics, health and beauty aids, hardware, and garden and patio products; meat, bakery, deli, and produces; and apparel and small appliances.
Further Reading: Diversification in Your Portfolio
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