Pallas Capital Advisors LLC Has $12 Million Position in Costco Wholesale Corporation $COST

Pallas Capital Advisors LLC reduced its holdings in Costco Wholesale Corporation (NASDAQ:COST) by 1.2% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 12,118 shares of the retailer’s stock after selling 152 shares during the quarter. Pallas Capital Advisors LLC’s holdings in Costco Wholesale were worth $11,996,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in COST. Brighton Jones LLC increased its stake in shares of Costco Wholesale by 12.3% during the 4th quarter. Brighton Jones LLC now owns 19,825 shares of the retailer’s stock worth $18,165,000 after purchasing an additional 2,172 shares during the last quarter. Revolve Wealth Partners LLC increased its stake in shares of Costco Wholesale by 13.1% during the 4th quarter. Revolve Wealth Partners LLC now owns 1,123 shares of the retailer’s stock worth $1,029,000 after purchasing an additional 130 shares during the last quarter. Bank Pictet & Cie Europe AG increased its stake in shares of Costco Wholesale by 45.0% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 117,254 shares of the retailer’s stock worth $107,436,000 after purchasing an additional 36,384 shares during the last quarter. Highview Capital Management LLC DE increased its stake in shares of Costco Wholesale by 0.8% during the 4th quarter. Highview Capital Management LLC DE now owns 4,813 shares of the retailer’s stock worth $4,410,000 after purchasing an additional 40 shares during the last quarter. Finally, Westwood Holdings Group Inc. increased its stake in shares of Costco Wholesale by 17.1% during the 4th quarter. Westwood Holdings Group Inc. now owns 13,008 shares of the retailer’s stock worth $11,919,000 after purchasing an additional 1,898 shares during the last quarter. 68.48% of the stock is currently owned by institutional investors and hedge funds.

Costco Wholesale Price Performance

COST stock opened at $952.07 on Wednesday. The company has a 50 day simple moving average of $959.09 and a 200 day simple moving average of $973.54. The stock has a market cap of $422.22 billion, a price-to-earnings ratio of 54.00, a P/E/G ratio of 5.40 and a beta of 0.97. Costco Wholesale Corporation has a 1 year low of $867.16 and a 1 year high of $1,078.23. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.02 and a quick ratio of 0.52.

Costco Wholesale Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Friday, August 1st were given a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date was Friday, August 1st. Costco Wholesale’s dividend payout ratio is currently 29.50%.

Insider Buying and Selling

In related news, EVP Teresa A. Jones sold 600 shares of the company’s stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $992.05, for a total transaction of $595,230.00. Following the completion of the transaction, the executive vice president directly owned 2,362 shares in the company, valued at $2,343,222.10. This represents a 20.26% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Yoram Rubanenko sold 4,000 shares of the company’s stock in a transaction that occurred on Monday, July 14th. The stock was sold at an average price of $974.96, for a total transaction of $3,899,840.00. Following the transaction, the executive vice president owned 5,774 shares of the company’s stock, valued at approximately $5,629,419.04. This represents a 40.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.18% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

COST has been the topic of several recent analyst reports. Wall Street Zen upgraded shares of Costco Wholesale from a “hold” rating to a “buy” rating in a research note on Friday, June 6th. Stifel Nicolaus set a $1,035.00 price objective on shares of Costco Wholesale in a research note on Thursday, May 29th. Loop Capital lowered their price objective on shares of Costco Wholesale from $1,115.00 to $1,110.00 and set a “buy” rating on the stock in a research note on Thursday, May 29th. JPMorgan Chase & Co. boosted their price objective on shares of Costco Wholesale from $1,115.00 to $1,160.00 and gave the stock an “overweight” rating in a research note on Thursday, August 7th. Finally, Erste Group Bank downgraded shares of Costco Wholesale from a “buy” rating to a “hold” rating in a report on Tuesday, August 5th. Seventeen equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $1,056.67.

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.