Cullen Frost Bankers Inc. Sells 3,360 Shares of Costco Wholesale Co. (NASDAQ:COST)

Cullen Frost Bankers Inc. lessened its holdings in Costco Wholesale Co. (NASDAQ:COST) by 3.1% in the 4th quarter, Holdings Channel reports. The firm owned 104,173 shares of the retailer’s stock after selling 3,360 shares during the quarter. Costco Wholesale accounts for 1.1% of Cullen Frost Bankers Inc.’s portfolio, making the stock its 23rd biggest holding. Cullen Frost Bankers Inc.’s holdings in Costco Wholesale were worth $68,763,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of COST. Richelieu Gestion SA bought a new position in Costco Wholesale in the 4th quarter worth $25,000. Morton Brown Family Wealth LLC increased its stake in shares of Costco Wholesale by 200.0% in the fourth quarter. Morton Brown Family Wealth LLC now owns 45 shares of the retailer’s stock worth $30,000 after purchasing an additional 30 shares during the period. Wetzel Investment Advisors Inc. bought a new position in shares of Costco Wholesale in the fourth quarter worth about $30,000. Steph & Co. lifted its position in shares of Costco Wholesale by 42.3% during the 3rd quarter. Steph & Co. now owns 74 shares of the retailer’s stock worth $42,000 after purchasing an additional 22 shares during the last quarter. Finally, Valued Wealth Advisors LLC acquired a new stake in Costco Wholesale in the 4th quarter valued at approximately $49,000. 68.48% of the stock is currently owned by institutional investors.

Insider Activity at Costco Wholesale

In other news, EVP Russell D. Miller sold 785 shares of the company’s stock in a transaction that occurred on Wednesday, April 17th. The shares were sold at an average price of $722.86, for a total transaction of $567,445.10. Following the transaction, the executive vice president now directly owns 10,000 shares in the company, valued at $7,228,600. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Susan L. Decker sold 1,442 shares of the firm’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $723.48, for a total value of $1,043,258.16. Following the transaction, the director now owns 12,395 shares in the company, valued at $8,967,534.60. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Russell D. Miller sold 785 shares of the business’s stock in a transaction dated Wednesday, April 17th. The stock was sold at an average price of $722.86, for a total value of $567,445.10. Following the sale, the executive vice president now directly owns 10,000 shares of the company’s stock, valued at $7,228,600. The disclosure for this sale can be found here. Insiders sold 3,727 shares of company stock valued at $2,682,948 over the last ninety days. 0.18% of the stock is owned by insiders.

Costco Wholesale Price Performance

Costco Wholesale stock traded up $14.86 during trading hours on Tuesday, hitting $771.31. 1,896,810 shares of the stock were exchanged, compared to its average volume of 2,036,400. The stock has a market capitalization of $342.08 billion, a P/E ratio of 50.45, a P/E/G ratio of 4.95 and a beta of 0.77. The business’s 50-day moving average is $731.22 and its two-hundred day moving average is $675.97. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.43 and a current ratio of 0.93. Costco Wholesale Co. has a 12 month low of $476.75 and a 12 month high of $787.08.

Costco Wholesale (NASDAQ:COST) last announced its earnings results on Thursday, March 7th. The retailer reported $3.71 EPS for the quarter, topping the consensus estimate of $3.62 by $0.09. Costco Wholesale had a return on equity of 28.80% and a net margin of 2.73%. The business had revenue of $58.44 billion for the quarter, compared to the consensus estimate of $59.11 billion. During the same period in the previous year, the business earned $3.30 EPS. Costco Wholesale’s revenue was up 5.7% compared to the same quarter last year. Equities research analysts expect that Costco Wholesale Co. will post 15.84 EPS for the current fiscal year.

Costco Wholesale Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Stockholders of record on Friday, April 26th will be paid a $1.16 dividend. The ex-dividend date of this dividend is Thursday, April 25th. This is a positive change from Costco Wholesale’s previous quarterly dividend of $1.02. This represents a $4.64 dividend on an annualized basis and a dividend yield of 0.60%. Costco Wholesale’s dividend payout ratio (DPR) is 30.35%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. StockNews.com lowered Costco Wholesale from a “buy” rating to a “hold” rating in a report on Friday, April 12th. Tigress Financial upped their target price on shares of Costco Wholesale from $745.00 to $870.00 and gave the company a “buy” rating in a research note on Friday, March 15th. The Goldman Sachs Group raised their price target on shares of Costco Wholesale from $665.00 to $749.00 and gave the stock a “buy” rating in a research report on Thursday, February 8th. Loop Capital cut their price objective on shares of Costco Wholesale from $830.00 to $820.00 and set a “buy” rating for the company in a research report on Thursday, April 11th. Finally, Wells Fargo & Company lifted their target price on Costco Wholesale from $610.00 to $675.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 8th. Seven equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $694.48.

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.