Verus Financial Partners Inc. Acquires New Stake in Costco Wholesale Co. (NASDAQ:COST)

Verus Financial Partners Inc. bought a new position in shares of Costco Wholesale Co. (NASDAQ:COST) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 341 shares of the retailer’s stock, valued at approximately $290,000.

A number of other large investors have also modified their holdings of COST. Vanguard Group Inc. raised its holdings in Costco Wholesale by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 40,833,870 shares of the retailer’s stock valued at $29,916,118,000 after acquiring an additional 473,702 shares during the last quarter. Norges Bank purchased a new stake in shares of Costco Wholesale in the fourth quarter valued at approximately $3,628,694,000. Capital World Investors increased its holdings in shares of Costco Wholesale by 8.1% in the first quarter. Capital World Investors now owns 3,824,778 shares of the retailer’s stock valued at $2,802,147,000 after purchasing an additional 285,533 shares during the last quarter. Fisher Asset Management LLC lifted its position in Costco Wholesale by 3.0% during the fourth quarter. Fisher Asset Management LLC now owns 2,790,935 shares of the retailer’s stock worth $1,842,241,000 after buying an additional 81,853 shares in the last quarter. Finally, TD Asset Management Inc boosted its stake in Costco Wholesale by 32.9% during the fourth quarter. TD Asset Management Inc now owns 1,278,824 shares of the retailer’s stock worth $844,126,000 after buying an additional 316,426 shares during the last quarter. Hedge funds and other institutional investors own 68.48% of the company’s stock.

Costco Wholesale Price Performance

Shares of COST opened at $885.98 on Friday. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.94 and a quick ratio of 0.45. Costco Wholesale Co. has a 1-year low of $540.18 and a 1-year high of $918.93. The stock has a market cap of $392.78 billion, a PE ratio of 54.89, a price-to-earnings-growth ratio of 5.98 and a beta of 0.80. The firm has a fifty day moving average price of $856.92 and a 200 day moving average price of $798.62.

Costco Wholesale Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 9th. Investors of record on Friday, July 26th were issued a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a dividend yield of 0.52%. The ex-dividend date was Friday, July 26th. Costco Wholesale’s dividend payout ratio is currently 28.75%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on COST shares. Oppenheimer cut their target price on Costco Wholesale from $950.00 to $925.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. TD Cowen raised their price objective on shares of Costco Wholesale from $850.00 to $925.00 and gave the stock a “buy” rating in a research report on Friday, July 12th. Roth Mkm reiterated a “neutral” rating and issued a $676.00 target price (up from $650.00) on shares of Costco Wholesale in a report on Friday, May 31st. Telsey Advisory Group reaffirmed an “outperform” rating and set a $925.00 price target on shares of Costco Wholesale in a research report on Tuesday, August 27th. Finally, Gordon Haskett upgraded Costco Wholesale from an “accumulate” rating to a “buy” rating and set a $925.00 target price on the stock in a research report on Thursday, August 8th. Eight equities research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $824.50.

Insiders Place Their Bets

In other news, insider Daniel M. Hines sold 1,500 shares of the company’s stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $844.20, for a total transaction of $1,266,300.00. Following the completion of the sale, the insider now owns 12,492 shares in the company, valued at $10,545,746.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Richard A. Galanti sold 500 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $863.88, for a total value of $431,940.00. Following the completion of the sale, the executive vice president now owns 23,800 shares in the company, valued at $20,560,344. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Daniel M. Hines sold 1,500 shares of the company’s stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $844.20, for a total transaction of $1,266,300.00. Following the transaction, the insider now owns 12,492 shares in the company, valued at $10,545,746.40. The disclosure for this sale can be found here. In the last ninety days, insiders sold 4,974 shares of company stock valued at $4,252,856. 0.18% of the stock is owned by company insiders.

Costco Wholesale Profile

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.