Perigon Wealth Management LLC Boosts Holdings in Costco Wholesale Corporation $COST

Perigon Wealth Management LLC lifted its position in Costco Wholesale Corporation (NASDAQ:COST) by 1.3% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 22,003 shares of the retailer’s stock after purchasing an additional 291 shares during the period. Perigon Wealth Management LLC’s holdings in Costco Wholesale were worth $21,781,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of Costco Wholesale by 1.0% in the first quarter. Vanguard Group Inc. now owns 42,644,711 shares of the retailer’s stock worth $40,332,515,000 after purchasing an additional 443,101 shares during the last quarter. GAMMA Investing LLC boosted its holdings in Costco Wholesale by 106,402.1% in the first quarter. GAMMA Investing LLC now owns 8,160,190 shares of the retailer’s stock valued at $7,717,744,000 after acquiring an additional 8,152,528 shares in the last quarter. Alliancebernstein L.P. boosted its holdings in Costco Wholesale by 0.4% in the first quarter. Alliancebernstein L.P. now owns 4,332,009 shares of the retailer’s stock valued at $4,097,127,000 after acquiring an additional 18,045 shares in the last quarter. Invesco Ltd. boosted its holdings in Costco Wholesale by 5.2% in the first quarter. Invesco Ltd. now owns 3,907,670 shares of the retailer’s stock valued at $3,695,796,000 after acquiring an additional 191,985 shares in the last quarter. Finally, Nuveen LLC bought a new stake in Costco Wholesale in the first quarter valued at $3,461,159,000. Institutional investors own 68.48% of the company’s stock.

Costco Wholesale Stock Performance

Shares of Costco Wholesale stock opened at $945.27 on Thursday. The company has a current ratio of 1.02, a quick ratio of 0.52 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $419.21 billion, a P/E ratio of 53.62, a P/E/G ratio of 5.30 and a beta of 0.97. The business has a fifty day simple moving average of $956.61 and a two-hundred day simple moving average of $970.80. Costco Wholesale Corporation has a 12 month low of $867.16 and a 12 month high of $1,078.23.

Costco Wholesale Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Friday, August 1st were given a $1.30 dividend. This represents a $5.20 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend was Friday, August 1st. Costco Wholesale’s payout ratio is currently 29.50%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on COST. JPMorgan Chase & Co. lifted their price target on shares of Costco Wholesale from $1,115.00 to $1,160.00 and gave the company an “overweight” rating in a report on Thursday, August 7th. Erste Group Bank cut shares of Costco Wholesale from a “buy” rating to a “hold” rating in a report on Tuesday, August 5th. Telsey Advisory Group reiterated an “outperform” rating and issued a $1,100.00 price target on shares of Costco Wholesale in a report on Wednesday. Morgan Stanley raised their price objective on Costco Wholesale from $1,150.00 to $1,225.00 and gave the company an “overweight” rating in a research report on Friday, May 30th. Finally, Truist Financial raised their price objective on Costco Wholesale from $995.00 to $1,042.00 and gave the company a “hold” rating in a research report on Friday, May 30th. Seventeen research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $1,061.30.

Insider Activity

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

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.