Parcion Private Wealth LLC increased its position in Costco Wholesale Co. (NASDAQ:COST)

VaselineSeptember 8, 2024

0 4 minutes read

Parcion Private Wealth LLC grew its position in Costco Wholesale Co . (NASDAQ:COST – Free Report) by 30.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,596 shares of the retailer’s stock after purchasing an additional 1,319 shares during the quarter. Parcion Private Wealth LLC’s holdings in Costco Wholesale were worth $4,757,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the company. Cobblestone Capital Advisors LLC NY boosted its holdings in shares of Costco Wholesale by 0.6% in the second quarter. Cobblestone Capital Advisors LLC NY now owns 21,864 shares of the retailer’s stock valued at $18,585,000 after purchasing an additional 134 shares during the last quarter. Stonebrook Private Inc. raised its stake in Costco Wholesale by 1.6% during the 2nd quarter. Stonebrook Private Inc. now owns 1,370 shares of the retailer’s stock valued at $1,164,000 after acquiring an additional 22 shares during the last quarter. SRS Capital Advisors Inc. raised its stake in Costco Wholesale by 370.1% during the 2nd quarter. SRS Capital Advisors Inc. now owns 1,241 shares of the retailer’s stock valued at $1,055,000 after purchasing an additional 977 shares during the last quarter. Oxbow Advisors LLC lifted its position in Costco Wholesale by 14.2% in the second quarter. Oxbow Advisors LLC now owns 2,689 shares of the retailer’s stock worth $2,286,000 after acquiring an additional 335 shares during the period. Finally, Motiv8 Investments LLC raised its stake in Costco Wholesale by 2.9% in the second quarter. Motiv8 Investments LLC now owns 1,009 shares of the retailer’s stock valued at $859,000 after buying an additional 28 shares in the last quarter. 68.48% of the shares are currently held by hedge funds and other institutional investors.

Analysts on Wall Street are forecasting an increase

Several equities research analysts recently weighed in on the company. Deutsche Bank Aktiengesellschaft upped their target price on Costco Wholesale from $925.00 to $927.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. DA Davidson reaffirmed a “neutral” rating and issued a $780.00 target price on shares of Costco Wholesale in a report on Friday. Barclays boosted their target price on shares of Costco Wholesale from $765.00 to $830.00 and gave the stock an “equal weight” rating in a report on Thursday, July 11th. Tigress Financial raised their price objective on Costco Wholesale from $870.00 to $975.00 and gave the company a “buy” rating in a report on Tuesday, June 25th. Finally, Citigroup boosted their price target on Costco Wholesale from $710.00 to $800.00 and gave the stock a “neutral” rating in a research note on Friday, May 31st. Seven research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. The stock has an average rating of “Moderate Buy” and an average price target of $828.73, according to MarketBeat.

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Read our latest analysis on COST

Indoor activity

In other Costco Wholesale news, insider Daniel M. Hines sold 1,500 shares of Costco Wholesale stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $844.20, for a total value of $1,266,300.00. Following the completion of the sale, the insider now directly owns 12,492 shares of the company’s stock, valued at approximately $10,545,746.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed via this hyperlink. In other news, Director Susan L. Decker sold 620 shares of the business’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 completion of the transaction, the director now owns 11,775 shares of the company’s stock, valued at approximately $10,320,787.50. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Daniel M. Hines sold 1,500 shares of the firm’s stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $844.20, for a total transaction of $1,266,300.00. Following the completion of the sale, the insider now directly owns 12,492 shares in the company, valued at $10,545,746.40. The disclosure for this sale can be found here. Insiders have sold a total of 4,974 shares of company stock worth $4,252,856 in the last 90 days. Insiders hold 0.18% of the company’s stock.

Costco Wholesale inventory down 1.0%

COST opened at $876.68 on Friday. The company’s fifty-day simple moving average is $857.45, and its 200-day simple moving average is $800.19. Costco Wholesale Co. it has a 52-week low of $540.23 and a 52-week high of $918.93. The firm has a market cap of $388.66 billion, a P/E ratio of 54.32, a PEG ratio of 5.98 and a beta of 0.80. The company has a quick ratio of 0.45, a current ratio of 0.94, and a debt-to-equity ratio of 0.27.

Costco Wholesale Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 9th. Stockholders of record on Friday, July 26th were issued a dividend of $1.16 per share. The ex-dividend date of this dividend was Friday, July 26. This represents a dividend of $4.64 on an annualized basis and a dividend yield of 0.53%. Costco Wholesale’s dividend payout ratio (DPR) is currently 28.75%.

Costco Wholesale Profile

(Free Report)

Costco Wholesale Corporation, together with its subsidiaries, engages in the operation of member 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 wide range of merchandise categories.