Wescott Financial Advisory Group LLC Makes New Investment in Costco Wholesale Co. (NASDAQ:COST)

Wescott Financial Advisory Group LLC purchased a new position in Costco Wholesale Co. (NASDAQ:COST) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 1,196 shares of the retailer’s stock, valued at approximately $1,016,000.

Several other hedge funds and other institutional investors have also modified their holdings of COST. Gilbert & Cook Inc. increased its holdings in shares of Costco Wholesale by 57.3% in the 4th quarter. Gilbert & Cook Inc. now owns 626 shares of the retailer’s stock worth $413,000 after acquiring an additional 228 shares during the period. Aveo Capital Partners LLC grew its holdings in Costco Wholesale by 14.5% in the 4th quarter. Aveo Capital Partners LLC now owns 1,065 shares of the retailer’s stock worth $703,000 after buying an additional 135 shares in the last quarter. Gryphon Financial Partners LLC raised its stake in Costco Wholesale by 62.6% during the 4th quarter. Gryphon Financial Partners LLC now owns 3,309 shares of the retailer’s stock valued at $2,184,000 after acquiring an additional 1,274 shares in the last quarter. United Services Automobile Association boosted its position in Costco Wholesale by 10.9% during the 4th quarter. United Services Automobile Association now owns 13,349 shares of the retailer’s stock worth $8,811,000 after acquiring an additional 1,317 shares during the period. Finally, 3Chopt Investment Partners LLC bought a new position in shares of Costco Wholesale in the fourth quarter worth $269,000. 68.48% of the stock is owned by institutional investors and hedge funds.

Costco Wholesale Trading Down 1.7 %

NASDAQ:COST opened at $901.54 on Wednesday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.45 and a current ratio of 0.94. The company has a market capitalization of $399.68 billion, a P/E ratio of 55.86, a P/E/G ratio of 5.57 and a beta of 0.80. Costco Wholesale Co. has a 52 week low of $540.23 and a 52 week high of $923.83. The stock’s 50 day moving average price is $867.23 and its 200 day moving average price is $813.69.

Costco Wholesale Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 9th. Stockholders of record on Friday, July 26th were given a $1.16 dividend. The ex-dividend date of this dividend was Friday, July 26th. This represents a $4.64 annualized dividend and a dividend yield of 0.51%. Costco Wholesale’s dividend payout ratio is 28.75%.

Analysts Set New Price Targets

COST has been the subject of a number of recent analyst reports. Tigress Financial increased their target price on shares of Costco Wholesale from $870.00 to $975.00 and gave the company a “buy” rating in a research report on Tuesday, June 25th. Truist Financial lowered shares of Costco Wholesale from a “buy” rating to a “hold” rating and set a $873.00 price objective on the stock. in a research note on Tuesday. Morgan Stanley upped their target price on Costco Wholesale from $855.00 to $950.00 and gave the stock an “overweight” rating in a research report on Monday, September 9th. Roth Mkm reiterated a “neutral” rating and set a $676.00 price target (up from $650.00) on shares of Costco Wholesale in a research report on Friday, May 31st. Finally, Wells Fargo & Company upped their price objective on Costco Wholesale from $775.00 to $800.00 and gave the company an “equal weight” rating in a report on Thursday, July 11th. Nine analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. Based on data from MarketBeat, Costco Wholesale has an average rating of “Moderate Buy” and an average price target of $857.48.

Insider Transactions at Costco Wholesale

In other Costco Wholesale news, Director Kenneth D. Denman sold 350 shares of the stock in a transaction 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 completion of the sale, the director now directly owns 5,920 shares of the company’s stock, valued at approximately $5,041,057.60. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, insider Daniel M. Hines sold 1,500 shares of the business’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $848.53, for a total transaction of $1,272,795.00. Following the transaction, the insider now directly owns 10,992 shares in the company, valued at $9,327,041.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kenneth D. Denman sold 350 shares of the company’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 completion of the sale, the director now owns 5,920 shares in the company, valued at $5,041,057.60. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 4,974 shares of company stock worth $4,252,856. Insiders own 0.18% of the company’s stock.

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.