Agate Pass Investment Management LLC Sells 41 Shares of Costco Wholesale Co. (NASDAQ:COST)

Agate Pass Investment Management LLC reduced its stake in Costco Wholesale Co. (NASDAQ:COST) by 1.5% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 2,684 shares of the retailer’s stock after selling 41 shares during the period. Costco Wholesale comprises 1.1% of Agate Pass Investment Management LLC’s holdings, making the stock its 27th largest position. Agate Pass Investment Management LLC’s holdings in Costco Wholesale were worth $2,459,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. International Assets Investment Management LLC lifted its holdings in shares of Costco Wholesale by 113,947.9% during the third quarter. International Assets Investment Management LLC now owns 7,370,916 shares of the retailer’s stock valued at $6,534,464,000 after purchasing an additional 7,364,453 shares in the last quarter. Wulff Hansen & CO. lifted its stake in Costco Wholesale by 99,208.6% during the 2nd quarter. Wulff Hansen & CO. now owns 1,474,733 shares of the retailer’s stock valued at $1,253,508,000 after acquiring an additional 1,473,248 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Costco Wholesale by 28.2% in the second quarter. Dimensional Fund Advisors LP now owns 1,538,078 shares of the retailer’s stock worth $1,307,363,000 after acquiring an additional 338,780 shares during the period. Pathway Financial Advisers LLC raised its stake in Costco Wholesale by 75,894.4% during the 3rd quarter. Pathway Financial Advisers LLC now owns 338,935 shares of the retailer’s stock valued at $300,473,000 after buying an additional 338,489 shares during the last quarter. Finally, FMR LLC lifted its holdings in Costco Wholesale by 3.6% in the third quarter. FMR LLC now owns 9,308,615 shares of the retailer’s stock valued at $8,252,274,000 after acquiring an additional 324,973 shares during the period. 68.48% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently commented on COST. Raymond James raised their target price on Costco Wholesale from $990.00 to $1,030.00 and gave the stock an “overweight” rating in a report on Thursday, December 12th. Oppenheimer reissued an “outperform” rating and set a $1,075.00 price objective (up previously from $980.00) on shares of Costco Wholesale in a report on Tuesday, December 10th. DA Davidson increased their price objective on shares of Costco Wholesale from $880.00 to $900.00 and gave the company a “neutral” rating in a research report on Friday, December 13th. Evercore ISI raised their price objective on Costco Wholesale from $1,019.00 to $1,020.00 and gave the company an “overweight” rating in a research note on Thursday, December 12th. Finally, TD Cowen increased their price target on Costco Wholesale from $975.00 to $1,090.00 and gave the company a “buy” rating in a report on Friday, December 13th. Nine equities research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $1,013.59.

Insider Activity

In related news, EVP Pierre Riel sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $896.71, for a total transaction of $1,793,420.00. Following the completion of the sale, the executive vice president now directly owns 10,210 shares in the company, valued at approximately $9,155,409.10. This trade represents a 16.38 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Richard A. Galanti sold 1,416 shares of Costco Wholesale stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $894.68, for a total transaction of $1,266,866.88. Following the transaction, the executive vice president now directly owns 27,400 shares in the company, valued at $24,514,232. This trade represents a 4.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.18% of the company’s stock.

Costco Wholesale Stock Performance

COST traded down $9.41 during midday trading on Monday, hitting $927.53. 666,527 shares of the company were exchanged, compared to its average volume of 1,771,542. The company’s 50 day simple moving average is $947.92 and its 200 day simple moving average is $899.20. The company has a current ratio of 0.97, a quick ratio of 0.44 and a debt-to-equity ratio of 0.25. The firm has a market capitalization of $411.73 billion, a price-to-earnings ratio of 54.46, a price-to-earnings-growth ratio of 6.02 and a beta of 0.84. Costco Wholesale Co. has a 1-year low of $675.96 and a 1-year high of $1,008.25.

Costco Wholesale Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 1st were issued a $1.16 dividend. The ex-dividend date was Friday, November 1st. This represents a $4.64 dividend on an annualized basis and a yield of 0.50%. Costco Wholesale’s payout ratio is 27.25%.

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.