Costco Wholesale Corporation $COST Shares Sold by Tompkins Financial Corp

Key Points

• Tompkins Financial Corp reduced its position in Costco Wholesale Corporation by 5.8% in Q2, now holding 14,100 shares worth approximately $13.96 million.
• Executive Vice President Teresa A. Jones and another executive sold a total of 4,600 shares recently, indicating a significant decrease in their holdings.
• Costco announced a quarterly dividend of $1.30 per share, with a dividend yield of 0.5% and a payout ratio of 29.50%.

Tompkins Financial Corp decreased its position in shares of Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 5.8% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 14,100 shares of the retailer's stock after selling 866 shares during the quarter. Costco Wholesale makes up 1.3% of Tompkins Financial Corp's holdings, making the stock its 22nd largest holding. Tompkins Financial Corp's holdings in Costco Wholesale were worth $13,958,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the business. Investment Management Corp VA ADV bought a new position in shares of Costco Wholesale in the fourth quarter worth about $25,000. Bulwark Capital Corp purchased a new position in Costco Wholesale during the second quarter valued at $25,000. Anderson Financial Strategies LLC boosted its holdings in shares of Costco Wholesale by 900.0% during the 1st quarter. Anderson Financial Strategies LLC now owns 40 shares of the retailer's stock valued at $38,000 after purchasing an additional 36 shares during the last quarter. eCIO Inc. purchased a new position in Costco Wholesale during the 1st quarter valued at approximately $48,000. Finally, Aspect Partners LLC increased its position in Costco Wholesale by 24.4% in the first quarter. Aspect Partners LLC now owns 56 shares of the retailer's stock worth $53,000 after purchasing an additional 11 shares during the last quarter. Hedge funds and other institutional investors own 68.48% of the company's stock.

Analyst Ratings Changes

COST has been the topic of a number of recent research reports. Morgan Stanley upped their price objective on Costco Wholesale from $1,150.00 to $1,225.00 and gave the company an "overweight" rating in a research report on Friday, May 30th. Loop Capital reduced their price target on Costco Wholesale from $1,115.00 to $1,110.00 and set a "buy" rating on the stock in a report on Thursday, May 29th. Stifel Nicolaus set a $1,035.00 price objective on Costco Wholesale in a report on Thursday, May 29th. Evercore ISI reduced their target price on Costco Wholesale from $1,075.00 to $1,060.00 and set an "outperform" rating on the stock in a research note on Tuesday, June 17th. Finally, Wall Street Zen upgraded Costco Wholesale from a "hold" rating to a "buy" rating in a research report on Friday, June 6th. Seventeen research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $1,056.67.

Insider Buying and Selling at Costco Wholesale

In other Costco Wholesale news, EVP Teresa A. Jones sold 600 shares of Costco Wholesale stock in a transaction dated 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 sale, the executive vice president owned 2,362 shares of the company's stock, valued at approximately $2,343,222.10. The trade was a 20.26% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Yoram Rubanenko sold 4,000 shares of the business's stock in a transaction dated Monday, July 14th. The shares were sold at an average price of $974.96, for a total value of $3,899,840.00. Following the completion of the transaction, the executive vice president directly 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 position. The disclosure for this sale can be found here. 0.18% of the stock is owned by corporate insiders.

Costco Wholesale Stock Down 0.1%

NASDAQ:COST traded down $1.20 during mid-day trading on Friday, hitting $951.16. 4,601,598 shares of the company's stock traded hands, compared to its average volume of 1,916,574. The company has a market capitalization of $421.82 billion, a P/E ratio of 53.95, a P/E/G ratio of 5.35 and a beta of 0.97. 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 company has a fifty day moving average of $957.97 and a 200 day moving average of $972.23. Costco Wholesale Corporation has a twelve month low of $867.16 and a twelve month high of $1,078.23.

Costco Wholesale Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Friday, August 1st were issued 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 0.5%. Costco Wholesale's payout ratio is 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.