Flynn Zito Capital Management LLC Boosts Stake in Costco Wholesale Co. (NASDAQ:COST)

Flynn Zito Capital Management LLC raised its position in Costco Wholesale Co. (NASDAQ:COST) by 12.2% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 958 shares of the retailer’s stock after purchasing an additional 104 shares during the quarter. Flynn Zito Capital Management LLC’s holdings in Costco Wholesale were worth $814,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Oak Asset Management LLC grew its stake in Costco Wholesale by 0.3% during the second quarter. Oak Asset Management LLC now owns 4,396 shares of the retailer’s stock worth $3,737,000 after buying an additional 12 shares during the period. Peddock Capital Advisors LLC lifted its holdings in shares of Costco Wholesale by 0.7% during the 2nd quarter. Peddock Capital Advisors LLC now owns 1,786 shares of the retailer’s stock valued at $1,518,000 after acquiring an additional 12 shares in the last quarter. Bedel Financial Consulting Inc. boosted its position in Costco Wholesale by 1.3% during the 1st quarter. Bedel Financial Consulting Inc. now owns 995 shares of the retailer’s stock worth $729,000 after purchasing an additional 13 shares during the period. Boltwood Capital Management increased its holdings in Costco Wholesale by 1.7% in the 2nd quarter. Boltwood Capital Management now owns 790 shares of the retailer’s stock valued at $671,000 after purchasing an additional 13 shares in the last quarter. Finally, LifePro Asset Management raised its position in Costco Wholesale by 3.8% in the second quarter. LifePro Asset Management now owns 358 shares of the retailer’s stock valued at $304,000 after purchasing an additional 13 shares during the period. Hedge funds and other institutional investors own 68.48% of the company’s stock.

Insider Activity at Costco Wholesale

In other Costco Wholesale news, Director Kenneth D. Denman sold 350 shares of the firm’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $851.53, for a total value of $298,035.50. Following the transaction, the director now owns 5,920 shares of the company’s stock, valued at $5,041,057.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Daniel M. Hines sold 1,500 shares of the company’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $848.53, for a total transaction of $1,272,795.00. Following the completion of the transaction, the insider now owns 10,992 shares in the company, valued at $9,327,041.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kenneth D. Denman sold 350 shares of the 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 in the company, valued at approximately $5,041,057.60. The disclosure for this sale can be found here. Insiders sold a total of 4,974 shares of company stock valued at $4,252,856 in the last quarter. Insiders own 0.18% of the company’s stock.

Costco Wholesale Stock Performance

Costco Wholesale stock opened at $876.68 on Friday. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.94 and a quick ratio of 0.45. Costco Wholesale Co. has a 12 month low of $540.23 and a 12 month high of $918.93. The company has a fifty day moving average price of $857.45 and a two-hundred day moving average price of $799.68. The company has a market cap of $388.66 billion, a PE ratio of 54.32, a P/E/G ratio of 5.98 and a beta of 0.80.

Costco Wholesale Dividend Announcement

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

Wall Street Analysts Forecast Growth

COST has been the subject of a number of recent research reports. Stifel Nicolaus increased their target price on Costco Wholesale from $910.00 to $915.00 and gave the company a “buy” rating in a research note on Friday. Gordon Haskett raised shares of Costco Wholesale from an “accumulate” rating to a “buy” rating and set a $925.00 price objective for the company in a research report on Thursday, August 8th. StockNews.com upgraded shares of Costco Wholesale from a “hold” rating to a “buy” rating in a research note on Friday. Wells Fargo & Company upped their target price on shares of Costco Wholesale from $775.00 to $800.00 and gave the company an “equal weight” rating in a research note on Thursday, July 11th. Finally, Citigroup lifted their price target on shares of Costco Wholesale from $710.00 to $800.00 and gave the stock a “neutral” rating in a research note on Friday, May 31st. Seven investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $828.73.

About Costco Wholesale

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.