Costco Wholesale Co. (COST) Position Boosted by Bruderman Asset Management LLC

Bruderman Asset Management LLC increased its position in shares of Costco Wholesale Co. (NASDAQ:COST) by 765.3% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 20,127 shares of the retailer’s stock after buying an additional 17,801 shares during the period. Bruderman Asset Management LLC’s holdings in Costco Wholesale were worth $4,206,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Qube Research & Technologies Ltd acquired a new position in shares of Costco Wholesale in the second quarter valued at $1,209,000. HRT Financial LLC acquired a new position in shares of Costco Wholesale in the second quarter valued at $1,258,000. B.S. Pension Fund Trustee Ltd acting for the British Steel Pension Fund acquired a new position in shares of Costco Wholesale in the second quarter valued at $1,108,000. Bridges Investment Management Inc. increased its holdings in shares of Costco Wholesale by 9.1% in the second quarter. Bridges Investment Management Inc. now owns 27,770 shares of the retailer’s stock valued at $5,803,000 after purchasing an additional 2,305 shares during the last quarter. Finally, Moneta Group Investment Advisors LLC increased its holdings in shares of Costco Wholesale by 976.2% in the second quarter. Moneta Group Investment Advisors LLC now owns 16,197 shares of the retailer’s stock valued at $394,000 after purchasing an additional 14,692 shares during the last quarter. Institutional investors and hedge funds own 71.49% of the company’s stock.

COST stock opened at $235.38 on Friday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.47 and a current ratio of 1.01. Costco Wholesale Co. has a 52 week low of $154.11 and a 52 week high of $245.16. The stock has a market capitalization of $106.32 billion, a P/E ratio of 40.44, a price-to-earnings-growth ratio of 2.87 and a beta of 0.95.

The firm also recently declared a quarterly dividend, which was paid on Friday, September 14th. Investors of record on Friday, August 31st were paid a $0.57 dividend. The ex-dividend date of this dividend was Thursday, August 30th. This represents a $2.28 annualized dividend and a dividend yield of 0.97%. Costco Wholesale’s dividend payout ratio (DPR) is presently 39.18%.

In related news, VP Paul G. Moulton sold 5,585 shares of the company’s stock in a transaction dated Monday, June 18th. The shares were sold at an average price of $206.83, for a total value of $1,155,145.55. Following the transaction, the vice president now directly owns 27,988 shares in the company, valued at $5,788,758.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John W. Meisenbach sold 3,000 shares of the company’s stock in a transaction dated Tuesday, September 4th. The shares were sold at an average price of $233.14, for a total transaction of $699,420.00. Following the completion of the transaction, the director now owns 8,654 shares in the company, valued at $2,017,593.56. The disclosure for this sale can be found here. Insiders sold 29,585 shares of company stock worth $6,424,076 over the last 90 days. 0.74% of the stock is currently owned by corporate insiders.

Several research firms have commented on COST. Zacks Investment Research upgraded shares of Costco Wholesale from a “hold” rating to a “buy” rating and set a $270.00 price objective on the stock in a report on Tuesday, September 11th. BMO Capital Markets set a $260.00 price objective on shares of Costco Wholesale and gave the company a “buy” rating in a report on Monday, September 10th. Raymond James upped their price objective on shares of Costco Wholesale from $225.00 to $252.00 and gave the company an “outperform” rating in a report on Monday, September 10th. Wells Fargo & Co downgraded shares of Costco Wholesale from an “outperform” rating to a “market perform” rating and set a $235.00 price objective on the stock. in a report on Friday. Finally, Loop Capital set a $265.00 price objective on shares of Costco Wholesale and gave the company a “buy” rating in a report on Thursday, September 6th. Eight research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $223.94.

Costco Wholesale Profile

Costco Wholesale Corporation, together with its subsidiaries, operates membership warehouses. It offers branded and private-label products in a range of merchandise categories. The company provides dry and packaged foods, and groceries; snack foods, candies, alcoholic and nonalcoholic beverages, and cleaning supplies; appliances, electronics, health and beauty aids, hardware, and garden and patio products; meat, bakery, deli, and produces; and apparel and small appliances.

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Institutional Ownership by Quarter for Costco Wholesale (NASDAQ:COST)

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