Spectrum Asset Management Inc. NB CA Lowers Stock Holdings in Costco Wholesale Co. (NASDAQ:COST)

Spectrum Asset Management Inc. NB CA trimmed its stake in Costco Wholesale Co. (NASDAQ:COSTGet Rating) by 19.2% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 2,110 shares of the retailer’s stock after selling 502 shares during the period. Spectrum Asset Management Inc. NB CA’s holdings in Costco Wholesale were worth $1,011,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Fortune 45 LLC raised its stake in shares of Costco Wholesale by 8.6% during the 1st quarter. Fortune 45 LLC now owns 696 shares of the retailer’s stock worth $401,000 after acquiring an additional 55 shares in the last quarter. Mather Group LLC. raised its stake in shares of Costco Wholesale by 15.2% during the 1st quarter. Mather Group LLC. now owns 2,316 shares of the retailer’s stock worth $1,334,000 after acquiring an additional 306 shares in the last quarter. Park National Corp OH raised its stake in shares of Costco Wholesale by 1.6% during the 2nd quarter. Park National Corp OH now owns 30,301 shares of the retailer’s stock worth $14,522,000 after acquiring an additional 463 shares in the last quarter. Amalgamated Bank raised its stake in shares of Costco Wholesale by 4.4% during the 1st quarter. Amalgamated Bank now owns 126,327 shares of the retailer’s stock worth $72,745,000 after acquiring an additional 5,278 shares in the last quarter. Finally, CHICAGO TRUST Co NA raised its stake in shares of Costco Wholesale by 3.6% during the 1st quarter. CHICAGO TRUST Co NA now owns 6,081 shares of the retailer’s stock worth $3,502,000 after acquiring an additional 209 shares in the last quarter. 66.83% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

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 directly owns 25,750 shares in the company, valued at $13,019,200. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, VP James P. Murphy sold 1,500 shares of the firm’s 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 directly owns 36,230 shares in the company, valued at $19,027,996. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Richard A. Galanti sold 1,000 shares of the firm’s stock in a transaction dated Thursday, July 14th. The stock was sold at an average price of $505.60, for a total transaction of $505,600.00. Following the sale, the chief financial officer now owns 25,750 shares of the company’s stock, valued at $13,019,200. The disclosure for this sale can be found here. Insiders sold 2,800 shares of company stock worth $1,449,904 over the last three months. Insiders own 0.22% of the company’s stock.

Analyst Upgrades and Downgrades

COST has been the subject of several recent analyst reports. Robert W. Baird reiterated an “outperform” rating and set a $575.00 price objective on shares of Costco Wholesale in a research note on Friday, September 2nd. Telsey Advisory Group cut their price target on shares of Costco Wholesale from $615.00 to $590.00 and set an “outperform” rating on the stock in a research note on Friday, May 27th. Evercore ISI upped their price target on shares of Costco Wholesale to $585.00 in a research note on Tuesday, September 6th. Truist Financial upped their price target 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 report on Thursday, August 4th. Four research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $575.36.

Costco Wholesale Stock Performance

NASDAQ:COST opened at $487.17 on Friday. 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 company has a fifty day moving average of $529.73 and a two-hundred day moving average of $519.85. The stock has a market capitalization 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 fifty-two week low of $406.51 and a fifty-two week high of $612.27.

Costco Wholesale Cuts Dividend

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

Costco Wholesale 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.

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

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