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

Stock Yards Bank & Trust Co. lowered its position in Costco Wholesale Co. (NASDAQ:COST - Free Report) by 2.0% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 52,225 shares of the retailer's stock after selling 1,039 shares during the period. Costco Wholesale comprises 1.8% of Stock Yards Bank & Trust Co.'s holdings, making the stock its 13th largest position. Stock Yards Bank & Trust Co.'s holdings in Costco Wholesale were worth $49,394,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in COST. Capital & Planning LLC lifted its holdings in Costco Wholesale by 28.7% in the fourth quarter. Capital & Planning LLC now owns 3,756 shares of the retailer's stock valued at $3,441,000 after buying an additional 837 shares during the period. Redmond Asset Management LLC purchased a new stake in Costco Wholesale in the 4th quarter worth approximately $1,214,000. May Barnhard Investments LLC purchased a new stake in shares of Costco Wholesale during the 4th quarter valued at $485,000. Ironwood Wealth Management LLC. raised its position in Costco Wholesale by 0.6% in the 4th quarter. Ironwood Wealth Management LLC. now owns 3,852 shares of the retailer's stock worth $3,529,000 after purchasing an additional 22 shares during the period. Finally, Brighton Jones LLC boosted its stake in shares of Costco Wholesale by 12.3% during the 4th quarter. Brighton Jones LLC now owns 19,825 shares of the retailer's stock valued at $18,165,000 after purchasing an additional 2,172 shares in the last quarter. Institutional investors own 68.48% of the company's stock.

Costco Wholesale Price Performance

NASDAQ COST traded down $12.50 on Friday, reaching $990.21. The company had a trading volume of 1,782,964 shares, compared to its average volume of 2,067,253. The stock has a market capitalization of $439.14 billion, a PE ratio of 58.15, a price-to-earnings-growth ratio of 6.15 and a beta of 1.00. Costco Wholesale Co. has a 12 month low of $793.00 and a 12 month high of $1,078.24. The company has a quick ratio of 0.43, a current ratio of 0.98 and a debt-to-equity ratio of 0.23. The firm's 50 day moving average price is $1,000.43 and its 200 day moving average price is $980.96.

Costco Wholesale (NASDAQ:COST - Get Free Report) last posted its quarterly earnings data on Thursday, May 29th. The retailer reported $4.28 earnings per share for the quarter, topping analysts' consensus estimates of $4.24 by $0.04. The company had revenue of $63.21 billion for the quarter, compared to analyst estimates of $62.93 billion. Costco Wholesale had a net margin of 2.93% and a return on equity of 32.31%. The firm's revenue for the quarter was up 8.0% on a year-over-year basis. During the same period in the prior year, the company posted $3.78 EPS. As a group, equities analysts predict that Costco Wholesale Co. will post 18.03 earnings per share for the current year.

Costco Wholesale Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 16th. Investors of record on Friday, May 2nd were given a dividend of $1.30 per share. This is a boost from Costco Wholesale's previous quarterly dividend of $1.16. The ex-dividend date was Friday, May 2nd. This represents a $5.20 dividend on an annualized basis and a yield of 0.53%. Costco Wholesale's dividend payout ratio is presently 29.50%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on COST. Evercore ISI boosted their price objective on shares of Costco Wholesale from $1,070.00 to $1,075.00 and gave the company an "outperform" rating in a report on Thursday, May 29th. Robert W. Baird upped their price objective on shares of Costco Wholesale from $1,075.00 to $1,125.00 and gave the company an "outperform" rating in a report on Friday, March 7th. Cowen reaffirmed a "buy" rating on shares of Costco Wholesale in a report on Friday, March 7th. Stifel Nicolaus set a $1,035.00 price target on shares of Costco Wholesale in a research report on Thursday, May 29th. Finally, Telsey Advisory Group reissued an "outperform" rating and set a $1,100.00 price target on shares of Costco Wholesale in a research report on Tuesday, June 3rd. Nine research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $1,035.32.

Insider Transactions at Costco Wholesale

In related news, EVP James C. Klauer sold 4,000 shares of the business's stock in a transaction dated Thursday, April 17th. The shares were sold at an average price of $981.07, for a total transaction of $3,924,280.00. Following the transaction, the executive vice president now directly owns 43,994 shares in the company, valued at approximately $43,161,193.58. The trade was a 8.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Claudine Adamo sold 900 shares of Costco Wholesale stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $922.56, for a total transaction of $830,304.00. Following the completion of the transaction, the executive vice president now owns 6,987 shares of the company's stock, valued at $6,445,926.72. This trade represents a 11.41% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 11,000 shares of company stock worth $10,825,205. Company insiders own 0.18% of the company's stock.

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.