Tower Research Capital LLC TRC Buys New Stake in Costco Wholesale Co. (COST)
Tower Research Capital LLC TRC bought a new stake in Costco Wholesale Co. (NASDAQ:COST) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund bought 17,587 shares of the retailer’s stock, valued at approximately $3,675,000.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Marshall Wace LLP grew its position in Costco Wholesale by 1,582.4% in the 2nd quarter. Marshall Wace LLP now owns 250,388 shares of the retailer’s stock valued at $52,326,000 after acquiring an additional 235,505 shares in the last quarter. Zacks Investment Management grew its position in Costco Wholesale by 1.3% in the 2nd quarter. Zacks Investment Management now owns 22,833 shares of the retailer’s stock valued at $4,772,000 after acquiring an additional 288 shares in the last quarter. Hilltop Holdings Inc. acquired a new position in Costco Wholesale in the 2nd quarter valued at about $224,000. Aristotle Atlantic Partners LLC grew its position in Costco Wholesale by 35.9% in the 2nd quarter. Aristotle Atlantic Partners LLC now owns 4,405 shares of the retailer’s stock valued at $921,000 after acquiring an additional 1,164 shares in the last quarter. Finally, Signaturefd LLC grew its position in Costco Wholesale by 23.2% in the 2nd quarter. Signaturefd LLC now owns 3,723 shares of the retailer’s stock valued at $778,000 after acquiring an additional 700 shares in the last quarter. 71.49% of the stock is owned by institutional investors.
In other news, VP Paul G. Moulton sold 5,585 shares of the company’s stock in a transaction that occurred on Monday, June 18th. The stock was sold at an average price of $206.83, for a total transaction of $1,155,145.55. Following the completion of the sale, the vice president now owns 27,988 shares in the company, valued at $5,788,758.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Richard A. Galanti sold 2,406 shares of the company’s stock in a transaction that occurred on Friday, June 15th. The stock was sold at an average price of $207.11, for a total value of $498,306.66. Following the sale, the vice president now owns 25,474 shares of the company’s stock, valued at approximately $5,275,920.14. The disclosure for this sale can be found here. In the last quarter, insiders sold 31,991 shares of company stock valued at $6,922,382. 0.58% of the stock is owned by company insiders.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 14th. Shareholders of record on Friday, August 31st will be paid a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 0.93%. The ex-dividend date of this dividend is Thursday, August 30th. Costco Wholesale’s dividend payout ratio is currently 39.18%.
A number of equities analysts have recently commented on COST shares. Loop Capital started coverage on Costco Wholesale in a research report on Wednesday, May 16th. They set a “buy” rating and a $224.00 price objective for the company. Royal Bank of Canada boosted their price objective on Costco Wholesale to $213.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 29th. Argus boosted their price objective on Costco Wholesale from $200.00 to $220.00 and gave the stock a “buy” rating in a research report on Wednesday, May 30th. Telsey Advisory Group boosted their price objective on Costco Wholesale from $210.00 to $220.00 and gave the stock an “outperform” rating in a research report on Friday, June 1st. Finally, Citigroup boosted their price objective on Costco Wholesale from $217.00 to $222.00 and gave the stock a “buy” rating in a research report on Friday, June 1st. Seven equities research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the company. Costco Wholesale currently has a consensus rating of “Buy” and an average price target of $223.94.
About Costco Wholesale
Costco Wholesale Corporation, together with its subsidiaries, operates membership warehouses. It offers branded and private-label products in a range of merchandise categories. The company provides dry and packaged foods, and groceries; snack foods, candies, alcoholic and nonalcoholic beverages, and cleaning supplies; appliances, electronics, health and beauty aids, hardware, and garden and patio products; meat, bakery, deli, and produces; and apparel and small appliances.
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