William Blair Investment Management LLC Boosts Stock Holdings in Costco Wholesale Co. (NASDAQ:COST)

William Blair Investment Management LLC raised its holdings in shares of Costco Wholesale Co. (NASDAQ:COST) by 2.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 366,066 shares of the retailer’s stock after acquiring an additional 9,662 shares during the quarter. Costco Wholesale comprises approximately 0.8% of William Blair Investment Management LLC’s portfolio, making the stock its 23rd biggest holding. William Blair Investment Management LLC owned approximately 0.08% of Costco Wholesale worth $311,152,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Main Street Financial Solutions LLC raised its holdings in Costco Wholesale by 4.7% during the 4th quarter. Main Street Financial Solutions LLC now owns 1,763 shares of the retailer’s stock valued at $1,164,000 after acquiring an additional 79 shares during the period. Zhang Financial LLC raised its holdings in Costco Wholesale by 3.8% during the 1st quarter. Zhang Financial LLC now owns 1,010 shares of the retailer’s stock valued at $740,000 after acquiring an additional 37 shares during the period. Strong Tower Advisory Services raised its holdings in Costco Wholesale by 7.9% during the 1st quarter. Strong Tower Advisory Services now owns 1,867 shares of the retailer’s stock valued at $1,346,000 after acquiring an additional 137 shares during the period. Aigen Investment Management LP bought a new stake in Costco Wholesale during the 4th quarter valued at $3,871,000. Finally, Parcion Private Wealth LLC increased its holdings in shares of Costco Wholesale by 30.8% in the second quarter. Parcion Private Wealth LLC now owns 5,596 shares of the retailer’s stock worth $4,757,000 after purchasing an additional 1,319 shares during the period. Institutional investors own 68.48% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on COST. Bank of America upped their price target on shares of Costco Wholesale from $874.00 to $962.00 and gave the stock a “buy” rating in a report on Thursday, July 11th. Truist Financial upped their price target on shares of Costco Wholesale from $815.00 to $873.00 and gave the stock a “buy” rating in a report on Friday, May 31st. Barclays upped their price target on shares of Costco Wholesale from $765.00 to $830.00 and gave the stock an “equal weight” rating in a report on Thursday, July 11th. Wells Fargo & Company upped their price target on shares of Costco Wholesale from $775.00 to $800.00 and gave the stock an “equal weight” rating in a report on Thursday, July 11th. Finally, TD Cowen upped their price target on shares of Costco Wholesale from $850.00 to $925.00 and gave the stock a “buy” rating in a report on Friday, July 12th. Eight research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. According to data from MarketBeat, Costco Wholesale currently has an average rating of “Moderate Buy” and a consensus target price of $844.52.

Insider Activity at Costco Wholesale

In related news, insider Daniel M. Hines sold 1,500 shares of the firm’s stock in a transaction that occurred on Friday, July 12th. The shares were 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 of the company’s stock, valued at $10,545,746.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Kenneth D. Denman sold 350 shares of the firm’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $851.53, for a total value of $298,035.50. Following the sale, the director now owns 5,920 shares in the company, valued at $5,041,057.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Daniel M. Hines sold 1,500 shares of the firm’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 approximately $10,545,746.40. The disclosure for this sale can be found here. Insiders sold 4,974 shares of company stock valued at $4,252,856 over the last 90 days. Corporate insiders own 0.18% of the company’s stock.

Costco Wholesale Price Performance

Shares of NASDAQ COST opened at $916.00 on Friday. Costco Wholesale Co. has a fifty-two week low of $540.23 and a fifty-two week high of $923.83. The company has a 50 day simple moving average of $861.57 and a two-hundred day simple moving average of $805.62. The company has a market capitalization of $406.09 billion, a price-to-earnings ratio of 56.75, a P/E/G ratio of 5.47 and a beta of 0.80. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.45 and a current ratio of 0.94.

Costco Wholesale Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 9th. Investors of record on Friday, July 26th were given a dividend of $1.16 per share. This represents a $4.64 annualized dividend and a dividend yield of 0.51%. The ex-dividend date was Friday, July 26th. Costco Wholesale’s dividend payout ratio (DPR) is currently 28.75%.

Costco Wholesale Company 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.