Costco Wholesale Co. (NASDAQ:COST) Holdings Reduced by Community Trust & Investment Co.

Community Trust & Investment Co. lowered its position in Costco Wholesale Co. (NASDAQ:COST) by 1.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 18,282 shares of the retailer’s stock after selling 240 shares during the quarter. Community Trust & Investment Co.’s holdings in Costco Wholesale were worth $15,540,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in COST. Frank Rimerman Advisors LLC bought a new stake in Costco Wholesale during the fourth quarter worth approximately $26,000. Redmont Wealth Advisors LLC purchased a new stake in shares of Costco Wholesale during the first quarter valued at $32,000. Wetzel Investment Advisors Inc. acquired a new position in shares of Costco Wholesale in the 4th quarter valued at $30,000. Vima LLC purchased a new position in Costco Wholesale in the 4th quarter worth about $34,000. Finally, DSM Capital Partners LLC acquired a new stake in Costco Wholesale during the 4th quarter worth about $36,000. Institutional investors own 68.48% of the company’s stock.

Insider Activity at Costco Wholesale

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 value of $543,430.00. Following the completion of the sale, the director now owns 11,775 shares of the company’s stock, valued at $10,320,787.50. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, Director Susan L. Decker sold 620 shares of the firm’s stock in a transaction that occurred on 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Daniel M. Hines sold 1,500 shares of the business’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 value of $1,266,300.00. Following the completion of the sale, the insider now owns 12,492 shares of the company’s stock, valued at $10,545,746.40. The disclosure for this sale can be found here. Insiders sold 4,970 shares of company stock worth $4,249,526 in the last ninety days. 0.18% of the stock is owned by company insiders.

Costco Wholesale Stock Down 0.3 %

Shares of Costco Wholesale stock traded down $2.99 on Friday, reaching $874.36. 693,914 shares of the company were exchanged, compared to its average volume of 1,982,222. The company has a 50-day moving average of $847.94 and a 200 day moving average of $780.75. Costco Wholesale Co. has a one year low of $530.56 and a one year high of $896.67. The company has a market capitalization of $387.63 billion, a price-to-earnings ratio of 53.94, a PEG ratio of 5.73 and a beta of 0.78. The company has a current ratio of 0.94, a quick ratio of 0.45 and a debt-to-equity ratio of 0.27.

Costco Wholesale (NASDAQ:COST) last released its quarterly earnings data on Thursday, May 30th. The retailer reported $3.78 EPS for the quarter, topping analysts’ consensus estimates of $3.70 by $0.08. The firm had revenue of $58.52 billion during the quarter, compared to analysts’ expectations of $58.16 billion. Costco Wholesale had a net margin of 2.83% and a return on equity of 30.02%. The company’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same period in the previous year, the business posted $3.43 earnings per share. On average, equities research analysts forecast that Costco Wholesale Co. will post 15.98 earnings per share for the current year.

Costco Wholesale Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 9th. Investors 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 26th. This represents a $4.64 annualized dividend and a yield of 0.53%. Costco Wholesale’s payout ratio is currently 28.75%.

Analyst Ratings Changes

COST has been the subject of several recent analyst reports. Tigress Financial raised their target price on shares of Costco Wholesale from $870.00 to $975.00 and gave the stock a “buy” rating in a report on Tuesday, June 25th. Gordon Haskett upgraded shares of Costco Wholesale from an “accumulate” rating to a “buy” rating and set a $925.00 price objective on the stock in a research report on Thursday, August 8th. Truist Financial boosted their target price on shares of Costco Wholesale from $815.00 to $873.00 and gave the company a “buy” rating in a research note on Friday, May 31st. Stifel Nicolaus raised their target price on Costco Wholesale from $900.00 to $950.00 and gave the stock a “buy” rating in a research report on Thursday, July 11th. Finally, Telsey Advisory Group reissued an “outperform” rating and set a $925.00 price target on shares of Costco Wholesale in a research report on Monday, August 5th. Seven research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $824.50.

Costco Wholesale Company Profile

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.