Peterson Wealth Management Cuts Stake in Costco Wholesale Corporation $COST

Peterson Wealth Management lowered its stake in Costco Wholesale Corporation (NASDAQ:COST) by 0.5% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 7,587 shares of the retailer’s stock after selling 35 shares during the quarter. Costco Wholesale comprises approximately 4.8% of Peterson Wealth Management’s investment portfolio, making the stock its 6th biggest holding. Peterson Wealth Management’s holdings in Costco Wholesale were worth $7,176,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. Brighton Jones LLC raised its holdings in shares of Costco Wholesale by 12.3% in the fourth quarter. Brighton Jones LLC now owns 19,825 shares of the retailer’s stock valued at $18,165,000 after purchasing an additional 2,172 shares during the last quarter. Revolve Wealth Partners LLC raised its holdings in shares of Costco Wholesale by 13.1% in the fourth quarter. Revolve Wealth Partners LLC now owns 1,123 shares of the retailer’s stock valued at $1,029,000 after purchasing an additional 130 shares during the last quarter. Bank Pictet & Cie Europe AG raised its holdings in shares of Costco Wholesale by 45.0% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 117,254 shares of the retailer’s stock valued at $107,436,000 after purchasing an additional 36,384 shares during the last quarter. Highview Capital Management LLC DE raised its holdings in shares of Costco Wholesale by 0.8% in the fourth quarter. Highview Capital Management LLC DE now owns 4,813 shares of the retailer’s stock valued at $4,410,000 after purchasing an additional 40 shares during the last quarter. Finally, Quadcap Wealth Management LLC raised its holdings in shares of Costco Wholesale by 1.3% in the fourth quarter. Quadcap Wealth Management LLC now owns 1,727 shares of the retailer’s stock valued at $1,582,000 after purchasing an additional 23 shares during the last quarter. Institutional investors own 68.48% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on COST shares. JPMorgan Chase & Co. lifted their price objective on shares of Costco Wholesale from $1,115.00 to $1,160.00 and gave the company an “overweight” rating in a report on Thursday, August 7th. Telsey Advisory Group reiterated an “outperform” rating and issued a $1,100.00 price objective on shares of Costco Wholesale in a report on Wednesday, August 27th. Evercore ISI lowered their price objective on shares of Costco Wholesale from $1,075.00 to $1,060.00 and set an “outperform” rating on the stock in a report on Tuesday, June 17th. Erste Group Bank downgraded shares of Costco Wholesale from a “buy” rating to a “hold” rating in a report on Tuesday, August 5th. Finally, Stifel Nicolaus set a $1,035.00 target price on shares of Costco Wholesale in a report on Thursday, May 29th. Seventeen equities 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.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $1,056.67.

Costco Wholesale Stock Performance

NASDAQ COST opened at $964.32 on Friday. The company has a current ratio of 1.02, a quick ratio of 0.52 and a debt-to-equity ratio of 0.21. The firm’s fifty day moving average price is $960.77 and its two-hundred day moving average price is $975.64. Costco Wholesale Corporation has a 1 year low of $867.16 and a 1 year high of $1,078.23. The firm has a market capitalization of $427.66 billion, a P/E ratio of 54.70, a price-to-earnings-growth ratio of 5.38 and a beta of 0.97.

Costco Wholesale Announces Dividend

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

Insider Buying and Selling at Costco Wholesale

In related news, Director Susan L. Decker sold 547 shares of Costco Wholesale stock in a transaction dated Wednesday, June 18th. The shares were sold at an average price of $980.00, for a total transaction of $536,060.00. Following the completion of the sale, the director owned 11,531 shares of the company’s stock, valued at approximately $11,300,380. The trade was a 4.53% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Yoram Rubanenko sold 4,000 shares of Costco Wholesale stock in a transaction dated 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 of the company’s stock, valued at $5,629,419.04. The trade was a 40.92% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 5,147 shares of company stock worth $5,031,130 over the last ninety days. Insiders own 0.18% of the company’s stock.

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.