Thomasville National Bank Sells 264 Shares of Costco Wholesale Corporation $COST

Key Points

• Thomasville National Bank reduced its holdings in Costco Wholesale Corporation by 31.1% during the 2nd quarter, resulting in ownership of 586 shares valued at $580,000.
• Several institutional investors have increased their stakes in Costco, with hedge funds now owning 68.48% of the company's stock.
• Costco's stock has seen varying analyst ratings, with reports noting an upgrade to "buy" and adjusted price targets reflecting moderate overall confidence in the company's performance.

Thomasville National Bank lessened its holdings in Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 31.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 586 shares of the retailer's stock after selling 264 shares during the period. Thomasville National Bank's holdings in Costco Wholesale were worth $580,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Bulwark Capital Corp bought a new position in Costco Wholesale during the 2nd quarter valued at $25,000. Anderson Financial Strategies LLC boosted its position in shares of Costco Wholesale by 900.0% in the first quarter. Anderson Financial Strategies LLC now owns 40 shares of the retailer's stock worth $38,000 after purchasing an additional 36 shares during the period. eCIO Inc. bought a new stake in shares of Costco Wholesale in the 1st quarter valued at approximately $48,000. Aspect Partners LLC increased its stake 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 buying an additional 11 shares during the period. Finally, Capital A Wealth Management LLC purchased a new position in shares of Costco Wholesale in the fourth quarter worth $58,000. Institutional investors own 68.48% of the company's stock.

Insider Activity at Costco Wholesale

In other Costco Wholesale news, EVP Teresa A. Jones sold 600 shares of the stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $992.05, for a total transaction of $595,230.00. Following the completion of the transaction, the executive vice president directly owned 2,362 shares of the company's stock, valued at approximately $2,343,222.10. This trade represents a 20.26% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Yoram Rubanenko sold 4,000 shares of the business's stock in a transaction that occurred on Monday, July 14th. The stock was sold at an average price of $974.96, for a total value of $3,899,840.00. Following the completion of the sale, the executive vice president owned 5,774 shares of the company's stock, valued at approximately $5,629,419.04. This trade represents a 40.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.18% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Telsey Advisory Group reissued an "outperform" rating and set a $1,100.00 target price on shares of Costco Wholesale in a research note on Wednesday, August 27th. Evercore ISI lowered their price objective on 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. Stifel Nicolaus set a $1,035.00 price objective on shares of Costco Wholesale in a research report on Thursday, May 29th. JPMorgan Chase & Co. boosted their price objective on shares of Costco Wholesale from $1,115.00 to $1,160.00 and gave the stock an "overweight" rating in a report on Thursday, August 7th. Finally, Truist Financial increased their price objective on shares of Costco Wholesale from $995.00 to $1,042.00 and gave the company a "hold" rating in a report on Friday, May 30th. Seventeen analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $1,056.67.

Costco Wholesale Stock Performance

COST traded down $1.20 on Friday, reaching $951.16. The company had a trading volume of 4,601,598 shares, compared to its average volume of 1,990,076. Costco Wholesale Corporation has a 1 year low of $867.16 and a 1 year high of $1,078.23. The stock has a market capitalization of $421.82 billion, a PE ratio of 53.95, a P/E/G ratio of 5.34 and a beta of 0.97. The stock has a 50-day moving average price of $957.97 and a 200-day moving average price of $971.32. The company has a quick ratio of 0.52, a current ratio of 1.02 and a debt-to-equity ratio of 0.21.

Costco Wholesale Dividend Announcement

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