Trust Point Inc. Purchases 752 Shares of Costco Wholesale Corporation $COST

Key Points

• Trust Point Inc. increased its stake in Costco by 37.5% during the second quarter, holding shares valued at approximately $2.73 million.
• Institutional ownership of Costco shares stands at 68.48%, with multiple investors, including Personal CFO Solutions LLC and Graybill Wealth Management, also raising their positions.
• Costco's stock has seen recent analyst ratings changes, with a consensus price target of $1,056.67 and a general rating of "Moderate Buy" among seventeen analysts.

Trust Point Inc. raised its stake in Costco Wholesale Corporation (NASDAQ:COST - Free Report) by 37.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,760 shares of the retailer's stock after purchasing an additional 752 shares during the period. Trust Point Inc.'s holdings in Costco Wholesale were worth $2,732,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of COST. Brighton Jones LLC lifted its holdings 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 acquiring an additional 2,172 shares during the period. Revolve Wealth Partners LLC lifted its holdings 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 worth $1,029,000 after acquiring an additional 130 shares during the period. Bank Pictet & Cie Europe AG increased its position in shares of 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 in the last quarter. Highview Capital Management LLC DE increased its position in shares of Costco Wholesale by 0.8% during the 4th quarter. Highview Capital Management LLC DE now owns 4,813 shares of the retailer's stock worth $4,410,000 after purchasing an additional 40 shares in the last quarter. Finally, Novem Group acquired a new stake in shares of Costco Wholesale during the 4th quarter worth about $619,000. 68.48% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

COST has been the subject of a number of recent analyst reports. Morgan Stanley increased their target price on shares of Costco Wholesale from $1,150.00 to $1,225.00 and gave the stock an "overweight" rating in a research report on Friday, May 30th. Telsey Advisory Group reiterated an "outperform" rating and set a $1,100.00 target price on shares of Costco Wholesale in a research report on Wednesday, August 27th. JPMorgan Chase & Co. increased their target price on shares of Costco Wholesale from $1,115.00 to $1,160.00 and gave the stock an "overweight" rating in a research report on Thursday, August 7th. Erste Group Bank cut shares of Costco Wholesale from a "buy" rating to a "hold" rating in a research report on Tuesday, August 5th. Finally, Stifel Nicolaus set a $1,035.00 target price on shares of Costco Wholesale in a research report on Thursday, May 29th. Seventeen analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $1,056.67.

Costco Wholesale Price Performance

COST traded down $7.90 during midday trading on Monday, hitting $943.26. The company had a trading volume of 2,781,931 shares, compared to its average volume of 1,990,076. 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 market capitalization of $418.32 billion, a PE ratio of 53.50, a P/E/G ratio of 5.34 and a beta of 0.97. Costco Wholesale Corporation has a twelve month low of $867.16 and a twelve month high of $1,078.23. The firm's 50-day simple moving average is $957.21 and its 200-day simple moving average is $971.17.

Costco Wholesale Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Friday, August 1st were paid a $1.30 dividend. This represents a $5.20 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend was Friday, August 1st. Costco Wholesale's dividend payout ratio (DPR) is 29.50%.

Insider Activity

In other news, EVP Yoram Rubanenko sold 4,000 shares of the firm'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 transaction, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Teresa A. Jones sold 600 shares of the firm's stock in a transaction dated Wednesday, August 20th. The shares were 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 in the company, valued at $2,343,222.10. This trade represents a 20.26% decrease in their position. The disclosure for this sale can be found here. 0.18% of the stock is currently owned by company insiders.

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.