PICTET BANK & TRUST Ltd cut its holdings in shares of Costco Wholesale Corporation (NASDAQ:COST) by 32.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,620 shares of the retailer’s stock after selling 5,620 shares during the quarter. PICTET BANK & TRUST Ltd’s holdings in Costco Wholesale Corporation were worth $1,858,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Alliancebernstein L.P. increased its holdings in shares of Costco Wholesale Corporation by 4.1% during the first quarter. Alliancebernstein L.P. now owns 3,248,905 shares of the retailer’s stock worth $544,809,000 after purchasing an additional 129,106 shares during the period. Mechanics Bank Trust Department increased its holdings in shares of Costco Wholesale Corporation by 4.8% during the second quarter. Mechanics Bank Trust Department now owns 33,556 shares of the retailer’s stock worth $5,366,000 after purchasing an additional 1,529 shares during the period. Cadinha & Co. LLC increased its holdings in shares of Costco Wholesale Corporation by 7.3% during the second quarter. Cadinha & Co. LLC now owns 124,642 shares of the retailer’s stock worth $19,934,000 after purchasing an additional 8,518 shares during the period. Main Street Research LLC increased its holdings in shares of Costco Wholesale Corporation by 4.9% during the first quarter. Main Street Research LLC now owns 64,704 shares of the retailer’s stock worth $10,850,000 after purchasing an additional 3,023 shares during the period. Finally, Stephens Inc. AR increased its holdings in shares of Costco Wholesale Corporation by 3.1% during the first quarter. Stephens Inc. AR now owns 44,405 shares of the retailer’s stock worth $7,446,000 after purchasing an additional 1,350 shares during the period. 72.61% of the stock is currently owned by institutional investors.

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In other Costco Wholesale Corporation news, VP Dennis R. Zook sold 5,000 shares of the stock in a transaction on Tuesday, October 24th. The shares were sold at an average price of $161.92, for a total transaction of $809,600.00. Following the completion of the sale, the vice president now owns 626 shares of the company’s stock, valued at approximately $101,361.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director John W. Meisenbach sold 1,000 shares of the stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $164.92, for a total transaction of $164,920.00. Following the sale, the director now directly owns 6,974 shares of the company’s stock, valued at approximately $1,150,152.08. The disclosure for this sale can be found here. Insiders have sold a total of 15,350 shares of company stock valued at $2,477,680 in the last three months. 0.74% of the stock is currently owned by corporate insiders.

Costco Wholesale Corporation (NASDAQ:COST) last released its earnings results on Thursday, October 5th. The retailer reported $2.08 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.02 by $0.06. Costco Wholesale Corporation had a net margin of 2.08% and a return on equity of 22.21%. The company had revenue of $42.30 billion for the quarter, compared to analyst estimates of $41.55 billion. During the same quarter last year, the firm earned $1.77 EPS. The firm’s quarterly revenue was up 15.7% compared to the same quarter last year.

The company also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Friday, November 17th will be given a dividend of $0.50 per share. The ex-dividend date is Thursday, November 16th. This represents a $2.00 annualized dividend and a yield of 1.21%. Costco Wholesale Corporation’s payout ratio is currently 32.89%.

Several brokerages have recently commented on COST. Sanford C. Bernstein reaffirmed a “hold” rating on shares of Costco Wholesale Corporation in a report on Thursday, July 6th. Cowen and Company reaffirmed an “outperform” rating on shares of Costco Wholesale Corporation in a report on Monday, July 24th. Stifel Nicolaus set a $173.00 target price on shares of Costco Wholesale Corporation and gave the stock a “buy” rating in a report on Thursday, August 3rd. Wells Fargo & Company reaffirmed a “hold” rating on shares of Costco Wholesale Corporation in a report on Thursday, August 3rd. Finally, Vetr cut shares of Costco Wholesale Corporation from a “strong-buy” rating to a “buy” rating and set a $183.04 price objective on the stock. in a research note on Wednesday, September 27th. Eleven analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $178.50.

About Costco Wholesale Corporation

Costco Wholesale Corporation is engaged in the operation of membership warehouses in the United States and Puerto Rico, Canada, the United Kingdom, Mexico, Japan, Australia, Spain, and through its subsidiaries in Taiwan and Korea. As of August 28, 2016, the Company operated 715 warehouses across the world.

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

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