Confluence Investment Management LLC Takes Position in Costco Wholesale Co. (NASDAQ:COST)

Confluence Investment Management LLC purchased a new position in shares of Costco Wholesale Co. (NASDAQ:COST) during the second quarter, HoldingsChannel reports. The fund purchased 247 shares of the retailer’s stock, valued at approximately $210,000.

Several other hedge funds and other institutional investors have also bought and sold shares of COST. Frank Rimerman Advisors LLC acquired a new position in Costco Wholesale in the fourth quarter valued at about $26,000. Redmont Wealth Advisors LLC bought a new position in Costco Wholesale in the 1st quarter valued at about $32,000. Morton Brown Family Wealth LLC raised its position in shares of Costco Wholesale by 200.0% in the 4th quarter. Morton Brown Family Wealth LLC now owns 45 shares of the retailer’s stock valued at $30,000 after buying an additional 30 shares in the last quarter. Wetzel Investment Advisors Inc. bought a new stake in shares of Costco Wholesale during the 4th quarter worth approximately $30,000. Finally, Vima LLC acquired a new stake in shares of Costco Wholesale during the 4th quarter worth approximately $34,000. Institutional investors and hedge funds own 68.48% of the company’s stock.

Costco Wholesale Trading Down 2.3 %

COST traded down $19.12 during trading on Monday, hitting $802.96. The company’s stock had a trading volume of 1,287,274 shares, compared to its average volume of 1,988,238. The firm has a market capitalization of $355.98 billion, a P/E ratio of 49.84, a PEG ratio of 5.49 and a beta of 0.78. Costco Wholesale Co. has a twelve month low of $530.56 and a twelve month high of $896.67. The stock’s fifty day moving average price is $843.59 and its 200-day moving average price is $772.20. The company has a quick ratio of 0.45, a current ratio of 0.94 and a debt-to-equity ratio of 0.27.

Costco Wholesale (NASDAQ:COST) last issued its earnings results on Thursday, May 30th. The retailer reported $3.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.70 by $0.08. Costco Wholesale had a net margin of 2.83% and a return on equity of 30.02%. The business had revenue of $58.52 billion for the quarter, compared to analyst estimates of $58.16 billion. During the same period in the prior year, the firm earned $3.43 earnings per share. Costco Wholesale’s revenue was up 9.1% on a year-over-year basis. Analysts anticipate that Costco Wholesale Co. will post 15.97 EPS for the current year.

Costco Wholesale Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 9th. Stockholders of record on Friday, July 26th will be paid a $1.16 dividend. The ex-dividend date of this dividend is Friday, July 26th. This represents a $4.64 annualized dividend and a dividend yield of 0.58%. Costco Wholesale’s dividend payout ratio is presently 28.75%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on COST. Wells Fargo & Company boosted their price objective on shares of Costco Wholesale from $775.00 to $800.00 and gave the company an “equal weight” rating in a research report on Thursday, July 11th. Roth Mkm restated a “neutral” rating and set a $676.00 price objective (up from $650.00) on shares of Costco Wholesale in a research report on Friday, May 31st. Tigress Financial lifted their target price on Costco Wholesale from $870.00 to $975.00 and gave the company a “buy” rating in a research report on Tuesday, June 25th. Argus increased their target price on shares of Costco Wholesale from $805.00 to $900.00 and gave the stock a “buy” rating in a report on Tuesday, May 28th. Finally, StockNews.com upgraded shares of Costco Wholesale from a “hold” rating to a “buy” rating in a research note on Sunday, June 2nd. Seven research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $806.42.

Insider Activity at Costco Wholesale

In other news, Director Kenneth D. Denman sold 350 shares of the company’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $851.53, for a total transaction of $298,035.50. Following the transaction, the director now directly owns 5,920 shares of the company’s stock, valued at $5,041,057.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Costco Wholesale news, Director Kenneth D. Denman sold 350 shares of Costco Wholesale stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $851.53, for a total transaction of $298,035.50. Following the completion of the transaction, the director now owns 5,920 shares in the company, valued at approximately $5,041,057.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Daniel M. Hines sold 1,500 shares of Costco Wholesale stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $848.53, for a total value of $1,272,795.00. Following the transaction, the insider now directly owns 10,992 shares in the company, valued at approximately $9,327,041.76. The disclosure for this sale can be found here. Insiders sold 3,350 shares of company stock valued at $2,837,131 in the last three months. Corporate insiders own 0.18% of the company’s stock.

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.