Central Pacific Bank Trust Division Sells 100 Shares of Costco Wholesale Corporation $COST

Central Pacific Bank Trust Division reduced its holdings in shares of Costco Wholesale Corporation (NASDAQ:COST) by 5.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,721 shares of the retailer’s stock after selling 100 shares during the quarter. Central Pacific Bank Trust Division’s holdings in Costco Wholesale were worth $1,704,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of COST. Investment Management Corp VA ADV bought a new stake in Costco Wholesale during the fourth quarter worth $25,000. Anderson Financial Strategies LLC lifted its holdings in Costco Wholesale by 900.0% during the first quarter. Anderson Financial Strategies LLC now owns 40 shares of the retailer’s stock worth $38,000 after acquiring an additional 36 shares during the period. eCIO Inc. bought a new stake in Costco Wholesale during the first quarter worth $48,000. Aspect Partners LLC lifted its holdings in Costco Wholesale by 24.4% during the first quarter. Aspect Partners LLC now owns 56 shares of the retailer’s stock worth $53,000 after acquiring an additional 11 shares during the period. Finally, Capital A Wealth Management LLC bought a new stake in Costco Wholesale during the fourth quarter worth $58,000. 68.48% of the stock is currently owned by institutional investors.

Insider Activity at Costco Wholesale

In related news, EVP Yoram Rubanenko sold 4,000 shares of the business’s stock in a transaction on Monday, July 14th. The stock was sold at an average price of $974.96, for a total transaction of $3,899,840.00. Following the sale, the executive vice president directly owned 5,774 shares in the company, valued at approximately $5,629,419.04. The trade was a 40.92% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Teresa A. Jones sold 600 shares of the business’s stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $992.05, for a total value of $595,230.00. Following the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 5,147 shares of company stock worth $5,031,130. 0.18% of the stock is owned by company insiders.

Costco Wholesale Stock Performance

NASDAQ:COST opened at $967.90 on Friday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.52 and a current ratio of 1.02. Costco Wholesale Corporation has a 52-week low of $867.16 and a 52-week high of $1,078.23. The firm has a market cap of $429.24 billion, a price-to-earnings ratio of 54.90, a PEG ratio of 5.43 and a beta of 0.97. The business’s fifty day moving average is $960.40 and its 200 day moving average is $975.04.

Costco Wholesale Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Friday, August 1st were paid a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date was Friday, August 1st. Costco Wholesale’s payout ratio is presently 29.50%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on COST. Wall Street Zen upgraded Costco Wholesale from a “hold” rating to a “buy” rating in a research note on Friday, June 6th. Morgan Stanley boosted their target price on Costco Wholesale from $1,150.00 to $1,225.00 and gave the company an “overweight” rating in a research note on Friday, May 30th. Loop Capital lowered their target price on 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. 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 Wednesday, August 27th. Finally, Erste Group Bank lowered Costco Wholesale from a “buy” rating to a “hold” rating in a research note on Tuesday, August 5th. Seventeen research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $1,056.67.

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.