Ferguson Wellman Capital Management Inc. Reduces Position in Costco Wholesale Corporation $COST

Key Points

• Ferguson Wellman Capital Management Inc. reduced its holdings in Costco Wholesale Corporation by 2.7%, selling 686 shares and ending the quarter with 24,396 shares valued at approximately $24.15 million.
• Costco recently declared a quarterly dividend of $1.30 per share, with an annual dividend yield of 0.5%, and a payout ratio of 29.50%.
• Analysts have mixed opinions on Costco's stock, with current ratings reflecting a "Moderate Buy" and an average price target of $1,056.67.

Ferguson Wellman Capital Management Inc. lowered its position in Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 2.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 24,396 shares of the retailer's stock after selling 686 shares during the period. Ferguson Wellman Capital Management Inc.'s holdings in Costco Wholesale were worth $24,151,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Baker Tilly Wealth Management LLC raised its stake in shares of Costco Wholesale by 12.2% during the second quarter. Baker Tilly Wealth Management LLC now owns 404 shares of the retailer's stock valued at $400,000 after acquiring an additional 44 shares in the last quarter. Exchange Traded Concepts LLC raised its stake in shares of Costco Wholesale by 4.3% during the second quarter. Exchange Traded Concepts LLC now owns 16,328 shares of the retailer's stock valued at $16,164,000 after acquiring an additional 670 shares in the last quarter. Park Capital Management LLC WI raised its stake in shares of Costco Wholesale by 4.5% during the second quarter. Park Capital Management LLC WI now owns 277 shares of the retailer's stock valued at $274,000 after acquiring an additional 12 shares in the last quarter. Family Legacy Financial Solutions LLC bought a new stake in shares of Costco Wholesale during the second quarter valued at approximately $1,130,000. Finally, Waypoint Wealth Partners Inc. raised its stake in shares of Costco Wholesale by 52.0% during the second quarter. Waypoint Wealth Partners Inc. now owns 2,198 shares of the retailer's stock valued at $2,176,000 after acquiring an additional 752 shares in the last quarter. Institutional investors own 68.48% of the company's stock.

Analyst Ratings Changes

Several research firms have recently weighed in on COST. Stifel Nicolaus set a $1,035.00 price target on shares of Costco Wholesale in a research note on Thursday, May 29th. Wall Street Zen raised shares of Costco Wholesale from a "hold" rating to a "buy" rating in a research note on Friday, June 6th. Truist Financial boosted their price objective on shares of Costco Wholesale from $995.00 to $1,042.00 and gave the stock a "hold" rating in a research note on Friday, May 30th. Loop Capital reduced their price objective on shares of Costco Wholesale from $1,115.00 to $1,110.00 and set a "buy" rating for the company in a research note on Thursday, May 29th. Finally, Evercore ISI reduced their price objective on shares of Costco Wholesale from $1,075.00 to $1,060.00 and set an "outperform" rating for the company in a research note on Tuesday, June 17th. Seventeen research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $1,056.67.

Costco Wholesale Stock Down 0.8%

Shares of COST stock traded down $7.90 during trading hours on Monday, reaching $943.26. 2,781,931 shares of the company's stock were exchanged, compared to its average volume of 1,990,076. The stock's 50 day moving average is $957.21 and its 200-day moving average is $971.17. The company has a market cap of $418.32 billion, a price-to-earnings ratio of 53.50, a P/E/G ratio of 5.34 and a beta of 0.97. The company has a current ratio of 1.02, a quick ratio of 0.52 and a debt-to-equity ratio of 0.21. Costco Wholesale Corporation has a fifty-two week low of $867.16 and a fifty-two week high of $1,078.23.

Costco Wholesale Announces Dividend

The firm also recently declared 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 of this dividend was Friday, August 1st. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.6%. Costco Wholesale's dividend payout ratio is presently 29.50%.

Insiders Place Their Bets

In other news, EVP Yoram Rubanenko sold 4,000 shares of the company's stock in a transaction 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 directly owned 5,774 shares of the company's stock, valued at approximately $5,629,419.04. This represents a 40.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Teresa A. Jones sold 600 shares of the company's stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $992.05, for a total value 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 ownership of the stock. The disclosure for this sale can be found here. Corporate 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.