Pictet Asset Management Ltd. Cuts Stake in Costco Wholesale Co. (NASDAQ:COST)

Pictet Asset Management Ltd. decreased its position in Costco Wholesale Co. (NASDAQ:COST) by 1.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 197,748 shares of the retailer’s stock after selling 3,223 shares during the period. Pictet Asset Management Ltd.’s holdings in Costco Wholesale were worth $52,257,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. BKD Wealth Advisors LLC lifted its position in shares of Costco Wholesale by 2.6% during the 2nd quarter. BKD Wealth Advisors LLC now owns 1,533 shares of the retailer’s stock valued at $405,000 after acquiring an additional 39 shares during the period. Ferguson Wellman Capital Management Inc. increased its stake in Costco Wholesale by 0.3% in the 2nd quarter. Ferguson Wellman Capital Management Inc. now owns 14,527 shares of the retailer’s stock valued at $3,839,000 after purchasing an additional 40 shares in the last quarter. Northeast Financial Consultants Inc raised its holdings in Costco Wholesale by 4.8% during the second quarter. Northeast Financial Consultants Inc now owns 882 shares of the retailer’s stock worth $233,000 after purchasing an additional 40 shares during the last quarter. Canton Hathaway LLC boosted its position in Costco Wholesale by 41.0% during the second quarter. Canton Hathaway LLC now owns 141 shares of the retailer’s stock worth $37,000 after purchasing an additional 41 shares in the last quarter. Finally, Sargent Investment Group LLC boosted its position in Costco Wholesale by 2.0% during the second quarter. Sargent Investment Group LLC now owns 2,241 shares of the retailer’s stock worth $592,000 after purchasing an additional 43 shares in the last quarter. Institutional investors and hedge funds own 71.14% of the company’s stock.

In other Costco Wholesale news, VP Roland Michael Vachris sold 3,700 shares of Costco Wholesale stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $267.25, for a total value of $988,825.00. Following the completion of the sale, the vice president now directly owns 13,578 shares of the company’s stock, valued at approximately $3,628,720.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP James P. Murphy sold 10,000 shares of Costco Wholesale stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $265.85, for a total transaction of $2,658,500.00. Following the completion of the sale, the vice president now directly owns 45,100 shares of the company’s stock, valued at $11,989,835. The disclosure for this sale can be found here. In the last three months, insiders sold 18,346 shares of company stock valued at $4,888,035. Company insiders own 0.21% of the company’s stock.



A number of brokerages have recently weighed in on COST. Telsey Advisory Group set a $305.00 price target on Costco Wholesale and gave the company a “buy” rating in a research report on Tuesday, September 3rd. Wells Fargo & Co boosted their price objective on shares of Costco Wholesale from $240.00 to $290.00 and gave the stock a “market perform” rating in a research report on Friday, September 6th. Guggenheim reissued a “hold” rating on shares of Costco Wholesale in a research note on Friday, September 6th. Evercore ISI reissued a “buy” rating on shares of Costco Wholesale in a research note on Sunday, August 11th. Finally, Deutsche Bank set a $252.00 target price on shares of Costco Wholesale and gave the company a “hold” rating in a report on Monday, July 15th. Nine equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $283.72.

Shares of Costco Wholesale stock traded down $4.54 during mid-day trading on Wednesday, hitting $292.46. 1,217,161 shares of the stock were exchanged, compared to its average volume of 2,159,889. The stock has a market capitalization of $131.50 billion, a price-to-earnings ratio of 42.82, a price-to-earnings-growth ratio of 3.96 and a beta of 0.93. Costco Wholesale Co. has a twelve month low of $189.51 and a twelve month high of $307.34. The company has a current ratio of 0.98, a quick ratio of 0.48 and a debt-to-equity ratio of 0.32. The company has a 50-day simple moving average of $281.72 and a 200 day simple moving average of $256.49.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Friday, August 30th will be given a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.89%. The ex-dividend date of this dividend is Thursday, August 29th. Costco Wholesale’s dividend payout ratio is presently 38.07%.

About Costco Wholesale

Costco Wholesale Corporation, together with its subsidiaries, operates membership warehouses. It offers branded and private-label products in a range of merchandise categories. The company provides dry and packaged foods, and groceries; snack foods, candies, alcoholic and nonalcoholic beverages, and cleaning supplies; appliances, electronics, health and beauty aids, hardware, and garden and patio products; meat, bakery, deli, and produces; and apparel and small appliances.

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Institutional Ownership by Quarter for Costco Wholesale (NASDAQ:COST)

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