Cullen Frost Bankers Inc. Sells 1,423 Shares of Costco Wholesale Co. (NASDAQ:COST)

Cullen Frost Bankers Inc. reduced its position in shares of Costco Wholesale Co. (NASDAQ:COST) by 1.4% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 99,027 shares of the retailer’s stock after selling 1,423 shares during the period. Costco Wholesale accounts for approximately 1.2% of Cullen Frost Bankers Inc.’s holdings, making the stock its 19th biggest position. Cullen Frost Bankers Inc.’s holdings in Costco Wholesale were worth $84,172,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of COST. Vanguard Group Inc. raised its stake in Costco Wholesale by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 40,833,870 shares of the retailer’s stock valued at $29,916,118,000 after purchasing an additional 473,702 shares during the last quarter. Norges Bank acquired a new position in shares of Costco Wholesale during the fourth quarter valued at about $3,628,694,000. Capital World Investors lifted its stake in shares of Costco Wholesale by 8.1% in the first quarter. Capital World Investors now owns 3,824,778 shares of the retailer’s stock valued at $2,802,147,000 after buying an additional 285,533 shares during the period. Fisher Asset Management LLC grew its position in Costco Wholesale by 3.0% during the fourth quarter. Fisher Asset Management LLC now owns 2,790,935 shares of the retailer’s stock worth $1,842,241,000 after buying an additional 81,853 shares in the last quarter. Finally, TD Asset Management Inc increased its stake in Costco Wholesale by 32.9% during the fourth quarter. TD Asset Management Inc now owns 1,278,824 shares of the retailer’s stock valued at $844,126,000 after acquiring an additional 316,426 shares during the period. 68.48% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Costco Wholesale

In related news, insider Daniel M. Hines sold 1,500 shares of the business’s stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $844.20, for a total transaction of $1,266,300.00. Following the completion of the transaction, the insider now owns 12,492 shares in the company, valued at $10,545,746.40. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Costco Wholesale news, insider Daniel M. Hines sold 1,500 shares of the stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $844.20, for a total value of $1,266,300.00. Following the completion of the sale, the insider now directly owns 12,492 shares in the company, valued at $10,545,746.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Susan L. Decker sold 620 shares of Costco Wholesale stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $876.50, for a total value of $543,430.00. Following the transaction, the director now owns 11,775 shares in the company, valued at approximately $10,320,787.50. The disclosure for this sale can be found here. Over the last quarter, insiders sold 4,974 shares of company stock worth $4,252,856. 0.18% of the stock is owned by insiders.

Costco Wholesale Trading Down 1.0 %

Costco Wholesale stock traded down $9.30 during trading hours on Friday, reaching $876.68. 2,074,604 shares of the company’s stock traded hands, compared to its average volume of 1,959,834. Costco Wholesale Co. has a fifty-two week low of $540.23 and a fifty-two week high of $918.93. The firm’s 50 day moving average is $857.45 and its 200-day moving average is $799.68. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.45 and a current ratio of 0.94. The firm has a market capitalization of $388.66 billion, a price-to-earnings ratio of 54.32, a PEG ratio of 5.98 and a beta of 0.80.

Costco Wholesale Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 9th. Shareholders of record on Friday, July 26th were issued a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a yield of 0.53%. The ex-dividend date was Friday, July 26th. Costco Wholesale’s dividend payout ratio is presently 28.75%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on COST shares. StockNews.com raised Costco Wholesale from a “hold” rating to a “buy” rating in a research report on Friday. Evercore ISI increased their price target on shares of Costco Wholesale from $915.00 to $925.00 and gave the stock an “outperform” rating in a research report on Friday. Barclays increased their target price on Costco Wholesale from $765.00 to $830.00 and gave the stock an “equal weight” rating in a report on Thursday, July 11th. Roth Mkm reaffirmed a “neutral” rating and issued a $676.00 price target (up previously from $650.00) on shares of Costco Wholesale in a research note on Friday, May 31st. Finally, Gordon Haskett upgraded Costco Wholesale from an “accumulate” rating to a “buy” rating and set a $925.00 price objective for the company in a research note on Thursday, August 8th. 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, the stock presently has an average rating of “Moderate Buy” and an average price target of $828.73.

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.