Edgestream Partners L.P. Cuts Holdings in Costco Wholesale Co. (NASDAQ:COST)

Edgestream Partners L.P. lowered its stake in shares of Costco Wholesale Co. (NASDAQ:COST) by 4.8% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 8,290 shares of the retailer’s stock after selling 414 shares during the period. Edgestream Partners L.P.’s holdings in Costco Wholesale were worth $7,046,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in COST. Frank Rimerman Advisors LLC purchased a new stake in Costco Wholesale during the fourth quarter valued at about $26,000. Redmont Wealth Advisors LLC bought a new position in shares of Costco Wholesale during the 1st quarter valued at about $32,000. Financial Connections Group Inc. raised its holdings in shares of Costco Wholesale by 557.1% during the 2nd quarter. Financial Connections Group Inc. now owns 46 shares of the retailer’s stock valued at $39,000 after buying an additional 39 shares in the last quarter. Vima LLC purchased a new stake in Costco Wholesale in the fourth quarter worth approximately $34,000. Finally, DSM Capital Partners LLC purchased a new stake in Costco Wholesale in the fourth quarter worth approximately $36,000. 68.48% of the stock is owned by institutional investors.

Costco Wholesale Stock Down 0.9 %

Shares of NASDAQ:COST opened at $907.87 on Tuesday. The firm has a market capitalization of $402.49 billion, a P/E ratio of 56.25, a P/E/G ratio of 5.56 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. The stock has a 50 day moving average price of $862.11 and a 200-day moving average price of $807.61. Costco Wholesale Co. has a 52-week low of $540.23 and a 52-week high of $923.83.

Costco Wholesale Announces Dividend

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

Insider Buying and Selling at Costco Wholesale

In other news, Director Kenneth D. Denman sold 350 shares of the company’s stock in a transaction dated 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 directly owns 5,920 shares of the company’s stock, valued at approximately $5,041,057.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Daniel M. Hines sold 1,500 shares of Costco Wholesale 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 transaction, the insider now directly 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. Also, 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 value of $298,035.50. Following the completion of the sale, the director now owns 5,920 shares in the company, valued at approximately $5,041,057.60. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 4,974 shares of company stock valued at $4,252,856. 0.18% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Loop Capital lifted their price target on shares of Costco Wholesale from $970.00 to $975.00 and gave the stock a “buy” rating in a research note on Friday, September 6th. Citigroup boosted their price target on shares of Costco Wholesale from $710.00 to $800.00 and gave the stock a “neutral” rating in a research note on Friday, May 31st. Redburn Atlantic lowered shares of Costco Wholesale from a “buy” rating to a “neutral” rating and upped their price target for the company from $860.00 to $890.00 in a research report on Tuesday, September 10th. Argus lifted their price objective on Costco Wholesale from $805.00 to $900.00 and gave the stock a “buy” rating in a report on Tuesday, May 28th. Finally, Barclays increased their target price on Costco Wholesale from $765.00 to $830.00 and gave the company an “equal weight” rating in a report on Thursday, July 11th. Eight investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $844.52.

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.