Central Bank & Trust Co. Cuts Position in Costco Wholesale Co. (NASDAQ:COST)

Central Bank & Trust Co. lowered its stake in Costco Wholesale Co. (NASDAQ:COST) by 3.0% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 17,044 shares of the retailer’s stock after selling 526 shares during the quarter. Costco Wholesale makes up 2.0% of Central Bank & Trust Co.’s portfolio, making the stock its 11th biggest position. Central Bank & Trust Co.’s holdings in Costco Wholesale were worth $14,487,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Norges Bank bought a new position in Costco Wholesale in the 4th quarter valued at approximately $3,628,694,000. Global Assets Advisory LLC bought a new position in shares of Costco Wholesale during the first quarter valued at $510,353,000. Assenagon Asset Management S.A. boosted its position in shares of Costco Wholesale by 287.3% during the second quarter. Assenagon Asset Management S.A. now owns 836,247 shares of the retailer’s stock valued at $710,802,000 after buying an additional 620,341 shares during the last quarter. Public Employees Retirement Association of Colorado increased its holdings in Costco Wholesale by 3,647.1% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 567,641 shares of the retailer’s stock worth $374,688,000 after buying an additional 552,492 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in Costco Wholesale by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 40,360,168 shares of the retailer’s stock worth $26,640,940,000 after buying an additional 485,051 shares during the last quarter. Institutional investors own 68.48% of the company’s stock.

Insider Buying and Selling

In related news, insider Daniel M. Hines sold 1,500 shares of the business’s stock in a transaction on Friday, July 12th. The stock was sold at an average price of $844.20, for a total transaction of $1,266,300.00. Following the completion of the transaction, the insider now owns 12,492 shares in the company, valued at approximately $10,545,746.40. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, EVP Richard A. Galanti sold 500 shares of Costco Wholesale stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $863.88, for a total transaction of $431,940.00. Following the completion of the sale, the executive vice president now owns 23,800 shares of the company’s stock, valued at $20,560,344. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Daniel M. Hines sold 1,500 shares of the stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $844.20, for a total value of $1,266,300.00. Following the completion of the transaction, the insider now directly owns 12,492 shares in the company, valued at approximately $10,545,746.40. The disclosure for this sale can be found here. Insiders have sold 4,970 shares of company stock valued at $4,249,526 in the last ninety days. 0.18% of the stock is owned by company insiders.

Costco Wholesale Price Performance

Shares of COST traded down $0.31 during midday trading on Monday, hitting $870.28. 461,098 shares of the company traded hands, compared to its average volume of 1,977,744. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.45 and a current ratio of 0.94. The stock has a market cap of $385.83 billion, a price-to-earnings ratio of 53.92, a PEG ratio of 5.79 and a beta of 0.78. Costco Wholesale Co. has a 52 week low of $530.56 and a 52 week high of $896.67. The firm has a 50 day moving average of $848.44 and a 200-day moving average of $783.16.

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

Costco Wholesale Dividend Announcement

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 was Friday, July 26th. This represents a $4.64 annualized dividend and a yield of 0.53%. Costco Wholesale’s payout ratio is 28.75%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on COST shares. Barclays raised their price target on shares of Costco Wholesale from $765.00 to $830.00 and gave the company an “equal weight” rating in a report on Thursday, July 11th. Loop Capital lifted their target price on shares of Costco Wholesale from $940.00 to $970.00 and gave the stock a “buy” rating in a research report on Thursday, July 11th. StockNews.com upgraded shares of Costco Wholesale from a “hold” rating to a “buy” rating in a research note on Sunday, June 2nd. Citigroup raised their price target on Costco Wholesale from $710.00 to $800.00 and gave the stock a “neutral” rating in a research note on Friday, May 31st. Finally, BMO Capital Markets upped their price objective on Costco Wholesale from $875.00 to $950.00 and gave the company an “outperform” rating in a research report on Monday, August 12th. Seven equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $824.50.

Costco Wholesale 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.