Biltmore Family Office LLC Buys 138 Shares of Costco Wholesale Co. (NASDAQ:COST)

by · The Markets Daily

Biltmore Family Office LLC grew its stake in Costco Wholesale Co. (NASDAQ:COST – Free Report) by 17.4% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 932 shares of the retailer’s stock after purchasing an additional 138 shares during the period. Biltmore Family Office LLC’s holdings in Costco Wholesale were worth $792,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Frank Rimerman Advisors LLC bought a new position in Costco Wholesale in the fourth quarter valued at about $26,000. Redmont Wealth Advisors LLC bought a new position in Costco Wholesale in the 1st quarter valued at approximately $32,000. Vima LLC bought a new position in Costco Wholesale in the 4th quarter valued at approximately $34,000. DSM Capital Partners LLC acquired a new stake in Costco Wholesale during the 4th quarter worth approximately $36,000. Finally, Financial Connections Group Inc. grew its holdings in Costco Wholesale by 557.1% during the 2nd quarter. Financial Connections Group Inc. now owns 46 shares of the retailer’s stock worth $39,000 after acquiring an additional 39 shares during the last quarter. 68.48% of the stock is owned by institutional investors.

Insider Activity

In other Costco Wholesale news, Director Kenneth D. Denman sold 350 shares of Costco Wholesale stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $851.53, for a total transaction of $298,035.50. Following the completion of the transaction, the director now owns 5,920 shares in the company, valued at approximately $5,041,057.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Susan L. Decker sold 620 shares of the firm’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $876.50, for a total transaction of $543,430.00. Following the transaction, the director now directly owns 11,775 shares of the company’s stock, valued at $10,320,787.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kenneth D. Denman sold 350 shares of the company’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $851.53, for a total transaction of $298,035.50. Following the completion of the sale, the director now directly owns 5,920 shares of the company’s stock, valued at $5,041,057.60. The disclosure for this sale can be found here. Insiders sold 4,974 shares of company stock worth $4,252,856 over the last three months. 0.18% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Bank of America lifted their price target on shares of Costco Wholesale from $874.00 to $962.00 and gave the stock a “buy” rating in a report on Thursday, July 11th. BMO Capital Markets lifted their target price on Costco Wholesale from $875.00 to $950.00 and gave the stock an “outperform” rating in a report on Monday, August 12th. Evercore ISI increased their price target on Costco Wholesale from $915.00 to $925.00 and gave the company an “outperform” rating in a research note on Friday, September 6th. Robert W. Baird raised their price objective on Costco Wholesale from $850.00 to $975.00 and gave the stock an “outperform” rating in a research report on Thursday, July 11th. Finally, StockNews.com upgraded Costco Wholesale from a “hold” rating to a “buy” rating in a report on Friday, September 6th. Eight analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $844.52.

Check Out Our Latest Stock Report on COST

Costco Wholesale Price Performance

Shares of NASDAQ:COST opened at $894.29 on Wednesday. Costco Wholesale Co. has a twelve month low of $540.23 and a twelve month high of $918.93. The stock’s 50 day moving average is $859.16 and its 200-day moving average is $802.98. The company has a quick ratio of 0.45, a current ratio of 0.94 and a debt-to-equity ratio of 0.27. The firm has a market capitalization of $396.47 billion, a price-to-earnings ratio of 55.41, a PEG ratio of 5.33 and a beta of 0.80.

Costco Wholesale Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 9th. Shareholders of record on Friday, July 26th were paid a $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a dividend yield of 0.52%. The ex-dividend date was Friday, July 26th. Costco Wholesale’s dividend payout ratio (DPR) is 28.75%.

Costco Wholesale Profile

(Free Report)

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.

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