American Trust Sells 999 Shares of Costco Wholesale Corporation $COST

Key Points

• American Trust has reduced its stake in Costco Wholesale Corporation by 13.6% in the 1st quarter, holding 6,353 shares now valued at approximately $6.01 million.
• Institutional investors own 68.48% of Costco's stock, with several large investors increasing their positions during the same quarter.
• Costco announced a quarterly dividend of $1.30 per share, with an annualized yield of 0.5% and a payout ratio of 29.50%.

American Trust trimmed its position in shares of Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 13.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,353 shares of the retailer's stock after selling 999 shares during the quarter. Costco Wholesale makes up about 1.5% of American Trust's investment portfolio, making the stock its 11th largest holding. American Trust's holdings in Costco Wholesale were worth $6,009,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Investment Management Corp VA ADV acquired a new stake in Costco Wholesale in the 4th quarter worth approximately $25,000. Aspect Partners LLC lifted its holdings in Costco Wholesale by 24.4% in the 1st quarter. Aspect Partners LLC now owns 56 shares of the retailer's stock worth $53,000 after purchasing an additional 11 shares during the last quarter. Capital A Wealth Management LLC acquired a new stake in Costco Wholesale in the 4th quarter worth approximately $58,000. Mascagni Wealth Management Inc. acquired a new stake in Costco Wholesale in the 4th quarter worth approximately $59,000. Finally, Bank & Trust Co lifted its holdings in Costco Wholesale by 20.4% in the 1st quarter. Bank & Trust Co now owns 65 shares of the retailer's stock worth $61,000 after purchasing an additional 11 shares during the last quarter. 68.48% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on COST. Loop Capital reduced their target price on Costco Wholesale from $1,115.00 to $1,110.00 and set a "buy" rating for the company in a report on Thursday, May 29th. Telsey Advisory Group restated an "outperform" rating and issued a $1,100.00 target price on shares of Costco Wholesale in a report on Wednesday, August 27th. Erste Group Bank lowered Costco Wholesale from a "buy" rating to a "hold" rating in a report on Tuesday, August 5th. Wall Street Zen upgraded Costco Wholesale from a "hold" rating to a "buy" rating in a report on Friday, June 6th. Finally, Stifel Nicolaus set a $1,035.00 price target on Costco Wholesale in a research report on Thursday, May 29th. Seventeen analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $1,056.67.

Costco Wholesale Stock Performance

NASDAQ COST traded up $4.18 during trading on Friday, hitting $968.50. The company's stock had a trading volume of 898,152 shares, compared to its average volume of 2,189,911. The firm has a market cap of $429.51 billion, a P/E ratio of 54.93, a price-to-earnings-growth ratio of 5.38 and a beta of 0.97. The company has a quick ratio of 0.52, a current ratio of 1.02 and a debt-to-equity ratio of 0.21. Costco Wholesale Corporation has a 52 week low of $867.16 and a 52 week high of $1,078.23. The firm has a 50 day moving average price of $960.77 and a 200 day moving average price of $975.64.

Costco Wholesale Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Friday, August 1st were given a dividend of $1.30 per share. The ex-dividend date was Friday, August 1st. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.5%. Costco Wholesale's payout ratio is currently 29.50%.

Insider Activity

In other news, EVP Teresa A. Jones sold 600 shares of the business's stock in a transaction that occurred on 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 directly owned 2,362 shares in the company, valued at approximately $2,343,222.10. The trade was a 20.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Yoram Rubanenko sold 4,000 shares of the business's stock in a transaction that occurred on Monday, July 14th. The shares were 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 approximately $5,629,419.04. This represents a 40.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 5,147 shares of company stock worth $5,031,130. Company insiders own 0.18% of the company's stock.

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.