Banque Transatlantique SA Sells 62,263 Shares of Costco Wholesale Corporation $COST

Key Points

• Banque Transatlantique SA has reduced its stake in Costco Wholesale Corporation by 27.0%, leaving it with 168,744 shares valued at approximately $147.5 million.
• Recent institutional activity includes Brighton Jones LLC increasing its holdings by 12.3% and Bank Pictet & Cie Europe AG boosting its position by 45.0% in the fourth quarter.
• Costco's stock currently holds a consensus rating of "Moderate Buy" with a target price around $1,050.00 from analysts, despite several downgrades from different firms.

Banque Transatlantique SA trimmed its position in shares of Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 27.0% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 168,744 shares of the retailer's stock after selling 62,263 shares during the quarter. Costco Wholesale comprises about 2.8% of Banque Transatlantique SA's investment portfolio, making the stock its 6th largest holding. Banque Transatlantique SA's holdings in Costco Wholesale were worth $147,486,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Investment Management Corp VA ADV purchased a new stake in shares of Costco Wholesale during the fourth quarter valued at about $25,000. Aspect Partners LLC increased its holdings in shares of Costco Wholesale by 24.4% during the first quarter. Aspect Partners LLC now owns 56 shares of the retailer's stock valued at $53,000 after acquiring an additional 11 shares in the last quarter. Capital A Wealth Management LLC acquired a new position in shares of Costco Wholesale during the fourth quarter valued at about $58,000. Mascagni Wealth Management Inc. acquired a new position in shares of Costco Wholesale during the fourth quarter valued at about $59,000. Finally, Bank & Trust Co increased its holdings in shares of Costco Wholesale by 20.4% during the first quarter. Bank & Trust Co now owns 65 shares of the retailer's stock valued at $61,000 after acquiring an additional 11 shares in the last quarter. 68.48% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Patrick J. Callans sold 3,000 shares of Costco Wholesale stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $1,002.77, for a total transaction of $3,008,310.00. Following the completion of the transaction, the executive vice president directly owned 58,543 shares of the company's stock, valued at $58,705,164.11. The trade was a 4.87% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Susan L. Decker sold 547 shares of Costco Wholesale stock in a transaction that occurred on Wednesday, June 18th. The shares were sold at an average price of $980.00, for a total transaction of $536,060.00. Following the transaction, the director directly owned 11,531 shares of the company's stock, valued at approximately $11,300,380. This trade represents a 4.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 8,147 shares of company stock valued at $8,039,440 in the last quarter. Company insiders own 0.18% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on COST. Erste Group Bank downgraded shares of Costco Wholesale from a "buy" rating to a "hold" rating in a report on Tuesday, August 5th. Evercore ISI cut their price objective on shares of 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. Morgan Stanley upped their price objective on shares of Costco Wholesale from $1,150.00 to $1,225.00 and gave the company an "overweight" rating in a report on Friday, May 30th. Wall Street Zen upgraded shares of Costco Wholesale from a "hold" rating to a "buy" rating in a report on Friday, June 6th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Costco Wholesale from $1,115.00 to $1,160.00 and gave the company an "overweight" rating in a report on Thursday, August 7th. Seventeen analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $1,050.00.

Costco Wholesale Stock Performance

Costco Wholesale stock traded up $7.58 during mid-day trading on Friday, hitting $963.48. The company had a trading volume of 1,926,561 shares, compared to its average volume of 2,013,209. The company has a current ratio of 1.02, a quick ratio of 0.52 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $427.28 billion, a price-to-earnings ratio of 54.65, a P/E/G ratio of 5.36 and a beta of 0.97. The company's fifty day moving average is $962.23 and its 200-day moving average is $977.68. Costco Wholesale Corporation has a 12-month low of $867.16 and a 12-month high of $1,078.23.

Costco Wholesale Dividend Announcement

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

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.