Central Bank & Trust Co. Cuts Stake in Costco Wholesale Corporation $COST

Key Points

• Central Bank & Trust Co. has reduced its stake in Costco Wholesale Corporation by 2.2%, holding 14,218 shares valued at approximately $14.1 million.
• The company recently paid a quarterly dividend of $1.30 per share, resulting in an annualized yield of 0.5% and a payout ratio of 29.50%.
• Costco's stock is currently trading at $960.10, with a twelve-month price range between $867.16 and $1,078.23.

Central Bank & Trust Co. lessened its holdings in shares of Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 2.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 14,218 shares of the retailer's stock after selling 316 shares during the period. Costco Wholesale accounts for about 2.3% of Central Bank & Trust Co.'s investment portfolio, making the stock its 9th biggest holding. Central Bank & Trust Co.'s holdings in Costco Wholesale were worth $14,075,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in COST. Personal CFO Solutions LLC raised its holdings in Costco Wholesale by 12.4% during the first quarter. Personal CFO Solutions LLC now owns 1,519 shares of the retailer's stock worth $1,436,000 after purchasing an additional 167 shares in the last quarter. F&V Capital Management LLC bought a new stake in Costco Wholesale during the first quarter worth approximately $236,000. Graybill Wealth Management LTD. bought a new stake in Costco Wholesale during the first quarter worth approximately $3,095,000. Rossmore Private Capital raised its holdings in Costco Wholesale by 0.9% during the first quarter. Rossmore Private Capital now owns 6,687 shares of the retailer's stock worth $6,325,000 after purchasing an additional 62 shares in the last quarter. Finally, Curat Global LLC bought a new stake in Costco Wholesale during the first quarter worth approximately $241,000. Institutional investors own 68.48% of the company's stock.

Costco Wholesale Trading Down 0.8%

NASDAQ COST opened at $960.10 on Tuesday. Costco Wholesale Corporation has a twelve month low of $867.16 and a twelve month high of $1,078.23. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.52 and a current ratio of 1.02. The stock has a market cap of $425.79 billion, a price-to-earnings ratio of 54.46, a PEG ratio of 5.45 and a beta of 0.97. The firm's 50 day moving average price is $959.76 and its two-hundred day moving average price is $973.69.

Costco Wholesale Announces Dividend

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

Insiders Place Their Bets

In other Costco Wholesale news, EVP Teresa A. Jones sold 600 shares of Costco Wholesale stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $992.05, for a total transaction of $595,230.00. Following the transaction, 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 position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Yoram Rubanenko sold 4,000 shares of Costco Wholesale stock in a transaction that occurred on Monday, July 14th. The stock was sold at an average price of $974.96, for a total transaction of $3,899,840.00. Following the transaction, the executive vice president owned 5,774 shares in the company, valued at approximately $5,629,419.04. The trade was a 40.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 5,147 shares of company stock worth $5,031,130. Corporate insiders own 0.18% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on COST shares. Truist Financial boosted their target price on Costco Wholesale from $995.00 to $1,042.00 and gave the stock a "hold" rating in a report on Friday, May 30th. Stifel Nicolaus set a $1,035.00 price target on shares of Costco Wholesale in a research report on Thursday, May 29th. JPMorgan Chase & Co. lifted their price target on shares of Costco Wholesale from $1,115.00 to $1,160.00 and gave the stock an "overweight" rating in a research report on Thursday, August 7th. Telsey Advisory Group restated an "outperform" rating and issued a $1,100.00 price target on shares of Costco Wholesale in a research report on Wednesday, August 27th. Finally, Erste Group Bank lowered shares of Costco Wholesale from a "buy" rating to a "hold" rating in a research report on Tuesday, August 5th. Seventeen equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $1,056.67.

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.

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