Stock Yards Bank & Trust Co. Decreases Stock Holdings in Costco Wholesale Co. (NASDAQ:COST)

Stock Yards Bank & Trust Co. lowered its position in shares of Costco Wholesale Co. (NASDAQ:COST) by 2.6% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 56,725 shares of the retailer’s stock after selling 1,537 shares during the period. Costco Wholesale comprises about 1.6% of Stock Yards Bank & Trust Co.’s investment portfolio, making the stock its 13th biggest holding. Stock Yards Bank & Trust Co.’s holdings in Costco Wholesale were worth $48,216,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in COST. Oak Asset Management LLC boosted its holdings in shares of Costco Wholesale by 0.3% during the second quarter. Oak Asset Management LLC now owns 4,396 shares of the retailer’s stock worth $3,737,000 after purchasing an additional 12 shares during the period. Peddock Capital Advisors LLC raised its position in Costco Wholesale by 0.7% during the 2nd quarter. Peddock Capital Advisors LLC now owns 1,786 shares of the retailer’s stock valued at $1,518,000 after purchasing an additional 12 shares during the last quarter. Bedel Financial Consulting Inc. lifted its holdings in Costco Wholesale by 1.3% in the 1st quarter. Bedel Financial Consulting Inc. now owns 995 shares of the retailer’s stock worth $729,000 after buying an additional 13 shares during the period. Boltwood Capital Management grew its position in shares of Costco Wholesale by 1.7% in the 2nd quarter. Boltwood Capital Management now owns 790 shares of the retailer’s stock worth $671,000 after buying an additional 13 shares during the last quarter. Finally, LifePro Asset Management increased its stake in shares of Costco Wholesale by 3.8% during the second quarter. LifePro Asset Management now owns 358 shares of the retailer’s stock valued at $304,000 after buying an additional 13 shares during the period. Institutional investors own 68.48% of the company’s stock.

Wall Street Analyst Weigh In

COST has been the subject of a number of research analyst reports. StockNews.com raised Costco Wholesale from a “hold” rating to a “buy” rating in a research note on Friday, September 6th. Tigress Financial raised their target price on shares of Costco Wholesale from $870.00 to $975.00 and gave the stock a “buy” rating in a research report on Tuesday, June 25th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Costco Wholesale from $925.00 to $927.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. Evercore ISI raised their price objective on shares of Costco Wholesale from $915.00 to $925.00 and gave the stock an “outperform” rating in a report on Friday, September 6th. Finally, Oppenheimer upped their target price on Costco Wholesale from $925.00 to $955.00 and gave the stock an “outperform” rating in a report on Friday, September 6th. Eight investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $844.52.

Insider Activity at Costco Wholesale

In other Costco Wholesale news, insider Daniel M. Hines sold 1,500 shares of the business’s 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 transaction, the insider now owns 12,492 shares of the company’s stock, valued at approximately $10,545,746.40. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, Director Kenneth D. Denman sold 350 shares of the firm’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $851.53, for a total value of $298,035.50. Following the transaction, the director now directly owns 5,920 shares in the company, valued at approximately $5,041,057.60. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Daniel M. Hines sold 1,500 shares of the company’s stock in a transaction on Friday, July 12th. The shares were sold at an average price of $844.20, for a total value of $1,266,300.00. Following the sale, the insider now owns 12,492 shares of the company’s stock, valued at approximately $10,545,746.40. The disclosure for this sale can be found here. Insiders have sold 4,974 shares of company stock valued at $4,252,856 over the last ninety days. Insiders own 0.18% of the company’s stock.

Costco Wholesale Price Performance

Shares of NASDAQ COST opened at $907.87 on Tuesday. The company has a 50 day moving average of $862.11 and a 200 day moving average of $807.61. The company has a quick ratio of 0.45, a current ratio of 0.94 and a debt-to-equity ratio of 0.27. Costco Wholesale Co. has a twelve month low of $540.23 and a twelve month high of $923.83. The firm has a market cap of $402.49 billion, a P/E ratio of 56.25, a PEG ratio of 5.56 and a beta of 0.80.

Costco Wholesale Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 9th. Stockholders 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 dividend yield of 0.51%. The ex-dividend date of this dividend was Friday, July 26th. Costco Wholesale’s payout ratio is currently 28.75%.

About Costco Wholesale

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.