Central Bank & Trust Co. Lowers Stake in Costco Wholesale Co. (NASDAQ:COST)

Central Bank & Trust Co. decreased its stake in shares of Costco Wholesale Co. (NASDAQ:COST) by 4.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,570 shares of the retailer’s stock after selling 727 shares during the quarter. Costco Wholesale makes up 1.8% of Central Bank & Trust Co.’s portfolio, making the stock its 12th largest position. Central Bank & Trust Co.’s holdings in Costco Wholesale were worth $12,872,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in the stock. B. Riley Wealth Advisors Inc. increased its position in Costco Wholesale by 1.0% during the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 28,855 shares of the retailer’s stock valued at $16,302,000 after purchasing an additional 273 shares during the period. Main Street Financial Solutions LLC increased its holdings in Costco Wholesale by 4.7% during the fourth quarter. Main Street Financial Solutions LLC now owns 1,763 shares of the retailer’s stock valued at $1,164,000 after buying an additional 79 shares during the period. Cerity Partners LLC raised its stake in Costco Wholesale by 28.9% in the fourth quarter. Cerity Partners LLC now owns 272,288 shares of the retailer’s stock worth $179,822,000 after buying an additional 61,122 shares in the last quarter. Metis Global Partners LLC lifted its holdings in Costco Wholesale by 15.6% during the fourth quarter. Metis Global Partners LLC now owns 21,514 shares of the retailer’s stock worth $14,201,000 after buying an additional 2,909 shares during the period. Finally, Rappaport Reiches Capital Management LLC boosted its position in Costco Wholesale by 23.5% during the 4th quarter. Rappaport Reiches Capital Management LLC now owns 814 shares of the retailer’s stock valued at $538,000 after acquiring an additional 155 shares in the last quarter. 68.48% of the stock is owned by hedge funds and other institutional investors.

Costco Wholesale Trading Down 1.6 %

Shares of COST traded down $14.13 during mid-day trading on Friday, reaching $848.31. The stock had a trading volume of 3,852,859 shares, compared to its average volume of 1,748,766. The business’s fifty day moving average is $788.13 and its 200 day moving average is $731.70. The firm has a market cap of $376.08 billion, a price-to-earnings ratio of 52.56, a P/E/G ratio of 5.70 and a beta of 0.79. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.94 and a quick ratio of 0.45. Costco Wholesale Co. has a 52-week low of $519.34 and a 52-week high of $873.96.

Costco Wholesale (NASDAQ:COST) last issued its quarterly earnings data on Thursday, May 30th. The retailer reported $3.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.70 by $0.08. The firm had revenue of $58.52 billion during the quarter, compared to the consensus estimate of $58.16 billion. Costco Wholesale had a return on equity of 30.02% and a net margin of 2.83%. The company’s quarterly revenue was up 9.1% on a year-over-year basis. During the same period last year, the company earned $3.43 EPS. On average, sell-side analysts predict that Costco Wholesale Co. will post 15.98 EPS for the current fiscal year.

Costco Wholesale Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 10th. Stockholders of record on Friday, April 26th were given a dividend of $1.16 per share. This is a positive change from Costco Wholesale’s previous quarterly dividend of $1.02. This represents a $4.64 annualized dividend and a dividend yield of 0.55%. The ex-dividend date was Thursday, April 25th. Costco Wholesale’s dividend payout ratio (DPR) is currently 28.75%.

Insider Activity

In related news, EVP Russell D. Miller sold 785 shares of Costco Wholesale stock in a transaction that occurred on Wednesday, April 17th. The shares were sold at an average price of $722.86, for a total value of $567,445.10. Following the completion of the transaction, the executive vice president now owns 10,000 shares in the company, valued at $7,228,600. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.18% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on COST shares. BMO Capital Markets reiterated an “outperform” rating and issued a $875.00 target price (up previously from $800.00) on shares of Costco Wholesale in a research note on Friday, May 31st. Wells Fargo & Company raised their price objective on Costco Wholesale from $750.00 to $775.00 and gave the stock an “equal weight” rating in a research report on Friday, May 31st. Truist Financial upped their target price on Costco Wholesale from $815.00 to $873.00 and gave the company a “buy” rating in a research report on Friday, May 31st. DA Davidson reissued a “neutral” rating and issued a $680.00 price target on shares of Costco Wholesale in a report on Thursday, April 11th. Finally, Stifel Nicolaus increased their price objective on shares of Costco Wholesale from $800.00 to $850.00 and gave the company a “buy” rating in a research report on Friday, May 31st. Seven investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $752.96.

Costco Wholesale Company 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.