Parallel Advisors LLC Has $46.09 Million Holdings in Costco Wholesale Corporation $COST

by · The Markets Daily

Parallel Advisors LLC increased its stake in shares of Costco Wholesale Corporation (NASDAQ:COST – Free Report) by 0.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 46,559 shares of the retailer’s stock after purchasing an additional 183 shares during the period. Costco Wholesale makes up approximately 0.9% of Parallel Advisors LLC’s investment portfolio, making the stock its 17th largest holding. Parallel Advisors LLC’s holdings in Costco Wholesale were worth $46,091,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Investment Management Corp VA ADV bought a new position in Costco Wholesale during the fourth quarter worth about $25,000. Anderson Financial Strategies LLC lifted its holdings in Costco Wholesale by 900.0% during the first quarter. Anderson Financial Strategies LLC now owns 40 shares of the retailer’s stock worth $38,000 after acquiring an additional 36 shares in the last quarter. eCIO Inc. bought a new position in Costco Wholesale during the first quarter worth about $48,000. Aspect Partners LLC lifted its holdings in Costco Wholesale by 24.4% during the first quarter. Aspect Partners LLC now owns 56 shares of the retailer’s stock worth $53,000 after acquiring an additional 11 shares in the last quarter. Finally, Capital A Wealth Management LLC bought a new position in Costco Wholesale during the fourth quarter worth about $58,000. 68.48% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have weighed in on COST. Evercore ISI reduced their target price on Costco Wholesale from $1,075.00 to $1,060.00 and set an “outperform” rating on the stock in a report on Tuesday, June 17th. JPMorgan Chase & Co. lifted their target price on Costco Wholesale from $1,115.00 to $1,160.00 and gave the stock an “overweight” rating in a report on Thursday, August 7th. Morgan Stanley boosted their price target on Costco Wholesale from $1,150.00 to $1,225.00 and gave the company an “overweight” rating in a report on Friday, May 30th. Stifel Nicolaus set a $1,035.00 price target on Costco Wholesale in a report on Thursday, May 29th. Finally, Truist Financial boosted their price target on Costco Wholesale from $995.00 to $1,042.00 and gave the company a “hold” rating in a report on Friday, May 30th. Seventeen equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $1,056.67.

Read Our Latest Report on Costco Wholesale

Costco Wholesale Stock Performance

COST opened at $967.90 on Monday. Costco Wholesale Corporation has a 52-week low of $867.16 and a 52-week high of $1,078.23. The firm has a market capitalization of $429.24 billion, a PE ratio of 54.90, a PEG ratio of 5.45 and a beta of 0.97. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.52 and a current ratio of 1.02. The business’s 50-day simple moving average is $960.40 and its 200 day simple moving average is $974.31.

Costco Wholesale Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Friday, August 1st were issued a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 0.5%. The ex-dividend date was Friday, August 1st. Costco Wholesale’s dividend payout ratio is presently 29.50%.

Insider Buying and Selling

In related news, EVP Teresa A. Jones sold 600 shares of the company’s stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $992.05, for a total transaction of $595,230.00. Following the sale, the executive vice president owned 2,362 shares in the company, valued at approximately $2,343,222.10. This represents a 20.26% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Yoram Rubanenko sold 4,000 shares of the company’s stock in a transaction dated Monday, July 14th. The stock was sold at an average price of $974.96, for a total value of $3,899,840.00. Following the sale, the executive vice president owned 5,774 shares in the company, valued at $5,629,419.04. The trade was a 40.92% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 5,147 shares of company stock worth $5,031,130. Corporate insiders own 0.18% of the company’s stock.

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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