Connors Investor Services Inc. Sells 3,598 Shares of Costco Wholesale Co. (NASDAQ:COST)
Connors Investor Services Inc. decreased its holdings in shares of Costco Wholesale Co. (NASDAQ:COST) by 6.4% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 53,063 shares of the retailer’s stock after selling 3,598 shares during the period. Costco Wholesale makes up 1.9% of Connors Investor Services Inc.’s holdings, making the stock its 14th largest position. Connors Investor Services Inc.’s holdings in Costco Wholesale were worth $14,022,000 as of its most recent SEC filing.
Other institutional investors have also modified their holdings of the company. Ironwood Wealth Management LLC. grew its holdings in shares of Costco Wholesale by 23.4% in the 1st quarter. Ironwood Wealth Management LLC. now owns 395 shares of the retailer’s stock worth $96,000 after acquiring an additional 75 shares during the last quarter. Duncker Streett & Co. Inc. grew its holdings in shares of Costco Wholesale by 15.3% in the 1st quarter. Duncker Streett & Co. Inc. now owns 3,387 shares of the retailer’s stock worth $820,000 after acquiring an additional 450 shares during the last quarter. Harrington Investments INC grew its holdings in shares of Costco Wholesale by 1.8% in the 1st quarter. Harrington Investments INC now owns 6,928 shares of the retailer’s stock worth $1,678,000 after acquiring an additional 120 shares during the last quarter. Spinnaker Trust grew its holdings in shares of Costco Wholesale by 97.9% in the 1st quarter. Spinnaker Trust now owns 3,010 shares of the retailer’s stock worth $728,000 after acquiring an additional 1,489 shares during the last quarter. Finally, Osborn Williams & Donohoe LLC grew its holdings in shares of Costco Wholesale by 403.7% in the 1st quarter. Osborn Williams & Donohoe LLC now owns 7,898 shares of the retailer’s stock worth $1,905,000 after acquiring an additional 6,330 shares during the last quarter. Institutional investors own 71.08% of the company’s stock.
COST has been the topic of a number of recent research reports. Goldman Sachs Group initiated coverage on Costco Wholesale in a report on Thursday, July 11th. They issued a “buy” rating and a $290.00 target price on the stock. Oppenheimer cut Costco Wholesale from an “outperform” rating to a “market perform” rating and lifted their target price for the stock from $295.00 to $300.00 in a report on Wednesday, September 11th. Loop Capital raised their target price on Costco Wholesale to $330.00 and gave the stock a “buy” rating in a research report on Friday, September 6th. Robert W. Baird raised their target price on Costco Wholesale from $290.00 to $325.00 and gave the stock an “outperform” rating in a research report on Thursday, September 5th. Finally, Stifel Nicolaus raised their target price on Costco Wholesale from $289.00 to $310.00 and gave the stock a “buy” rating in a research report on Friday, September 6th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and seventeen have given a buy rating to the company. Costco Wholesale presently has a consensus rating of “Buy” and an average target price of $281.39.
Shares of Costco Wholesale stock traded down $5.51 during midday trading on Thursday, hitting $286.92. The company’s stock had a trading volume of 812,487 shares, compared to its average volume of 2,466,263. The firm has a market capitalization of $126.96 billion, a P/E ratio of 42.01, a PEG ratio of 3.82 and a beta of 0.93. Costco Wholesale Co. has a 1-year low of $189.51 and a 1-year high of $307.34. The company has a quick ratio of 0.48, a current ratio of 0.98 and a debt-to-equity ratio of 0.32. The stock has a 50-day simple moving average of $283.20 and a 200-day simple moving average of $259.08.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were given a dividend of $0.65 per share. The ex-dividend date was Thursday, August 29th. This represents a $2.60 dividend on an annualized basis and a yield of 0.91%. Costco Wholesale’s payout ratio is 38.07%.
About Costco Wholesale
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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