First Western Trust Bank Has $11.19 Million Stake in Costco Wholesale Corporation (NASDAQ:COST)

Key Points

• First Western Trust Bank has reduced its holdings in Costco Wholesale by 6.3%, selling 793 shares, leaving it with a total of 11,827 shares, valued at approximately $11.2 million.
• Analysts have positive projections for Costco, with target prices raised by firms like JPMorgan and Morgan Stanley, contributing to a consensus rating of "Moderate Buy".
• The company recently declared a quarterly dividend of $1.30 per share, payable on August 15, with a current yield of 0.5% and a payout ratio of 29.5%.

First Western Trust Bank lessened its holdings in Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 6.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,827 shares of the retailer's stock after selling 793 shares during the quarter. Costco Wholesale accounts for about 0.5% of First Western Trust Bank's holdings, making the stock its 12th biggest position. First Western Trust Bank's holdings in Costco Wholesale were worth $11,186,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Brighton Jones LLC raised its position 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 worth $18,165,000 after purchasing an additional 2,172 shares during the last quarter. Revolve Wealth Partners LLC grew its stake in shares of Costco Wholesale by 13.1% during the 4th quarter. Revolve Wealth Partners LLC now owns 1,123 shares of the retailer's stock valued at $1,029,000 after buying an additional 130 shares during the period. Bank Pictet & Cie Europe AG boosted its position in Costco Wholesale by 45.0% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 117,254 shares of the retailer's stock worth $107,436,000 after purchasing an additional 36,384 shares during the period. Highview Capital Management LLC DE boosted its position in Costco Wholesale by 0.8% in the 4th quarter. Highview Capital Management LLC DE now owns 4,813 shares of the retailer's stock valued at $4,410,000 after buying an additional 40 shares during the last quarter. Finally, Hudson Value Partners LLC boosted its position in Costco Wholesale by 5.7% in the 4th quarter. Hudson Value Partners LLC now owns 8,501 shares of the retailer's stock valued at $7,789,000 after buying an additional 455 shares during the last quarter. Hedge funds and other institutional investors own 68.48% of the company's stock.

Costco Wholesale Stock Down 0.1%

Shares of COST stock traded down $1.00 during trading hours on Tuesday, hitting $987.74. 645,032 shares of the company were exchanged, compared to its average volume of 2,211,268. Costco Wholesale Corporation has a 52 week low of $856.16 and a 52 week high of $1,078.23. The business has a 50 day moving average of $976.56 and a two-hundred day moving average of $985.77. The company has a market capitalization of $438.04 billion, a PE ratio of 56.06, a PEG ratio of 6.10 and a beta of 0.96. 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 (NASDAQ:COST - Get Free Report) last announced its quarterly earnings results on Thursday, May 29th. The retailer reported $4.28 EPS for the quarter, beating analysts' consensus estimates of $4.24 by $0.04. The firm had revenue of $63.21 billion during the quarter, compared to analysts' expectations of $62.93 billion. Costco Wholesale had a net margin of 2.92% and a return on equity of 30.48%. The company's revenue for the quarter was up 8.0% compared to the same quarter last year. During the same quarter last year, the company posted $3.78 earnings per share. Analysts anticipate that Costco Wholesale Corporation will post 18.03 earnings per share for the current fiscal year.

Costco Wholesale Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Friday, August 1st will be paid a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date is Friday, August 1st. Costco Wholesale's dividend payout ratio (DPR) is 29.50%.

Insider Buying and Selling

In other news, Director Susan L. Decker sold 547 shares of the firm's stock in a transaction that occurred on Wednesday, June 18th. The shares were sold at an average price of $980.00, for a total value of $536,060.00. Following the sale, the director directly owned 11,531 shares in the company, valued at approximately $11,300,380. This trade represents a 4.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Pierre Riel sold 2,000 shares of the firm's stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $1,014.15, for a total transaction of $2,028,300.00. Following the completion of the sale, the executive vice president owned 8,210 shares in the company, valued at approximately $8,326,171.50. The trade was a 19.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 9,547 shares of company stock worth $9,472,510 in the last quarter. Insiders own 0.18% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on COST shares. Telsey Advisory Group restated an "outperform" rating and issued a $1,100.00 target price on shares of Costco Wholesale in a research note on Monday, August 4th. JPMorgan Chase & Co. raised their price target on shares of Costco Wholesale from $1,115.00 to $1,160.00 and gave the company an "overweight" rating in a research note on Thursday, August 7th. Loop Capital dropped their price target on shares of Costco Wholesale from $1,115.00 to $1,110.00 and set a "buy" rating on the stock in a research note on Thursday, May 29th. Erste Group Bank lowered shares of Costco Wholesale from a "buy" rating to a "hold" rating in a research note on Tuesday, August 5th. Finally, Wall Street Zen upgraded shares of Costco Wholesale from a "hold" rating to a "buy" rating in a report on Friday, June 6th. Ten research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $1,050.00.

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.