Costco Wholesale Corporation $COST Holdings Cut by Fruth Investment Management

Fruth Investment Management decreased its stake in Costco Wholesale Corporation (NASDAQ:COST) by 2.4% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,057 shares of the retailer’s stock after selling 123 shares during the quarter. Costco Wholesale makes up about 1.3% of Fruth Investment Management’s holdings, making the stock its 17th biggest position. Fruth Investment Management’s holdings in Costco Wholesale were worth $4,782,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Brighton Jones LLC raised its holdings in shares of Costco Wholesale by 12.3% during the 4th 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 in the last quarter. Revolve Wealth Partners LLC raised its holdings in shares of Costco Wholesale by 13.1% during the 4th 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 in the last quarter. Bank Pictet & Cie Europe AG raised its holdings in shares of Costco Wholesale by 45.0% during the 4th 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 in the last quarter. Highview Capital Management LLC DE raised its holdings in shares of Costco Wholesale by 0.8% during the 4th 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 in the last quarter. Finally, Quadcap Wealth Management LLC raised its holdings in shares of Costco Wholesale by 1.3% during the 4th 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 in the last quarter. Hedge funds and other institutional investors own 68.48% of the company’s stock.

Costco Wholesale Stock Performance

NASDAQ COST opened at $964.32 on Friday. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.02 and a quick ratio of 0.52. The firm has a market capitalization of $427.66 billion, a price-to-earnings ratio of 54.70, a P/E/G ratio of 5.38 and a beta of 0.97. The company’s fifty day moving average is $960.77 and its two-hundred day moving average is $975.64. Costco Wholesale Corporation has a 52-week low of $867.16 and a 52-week high of $1,078.23.

Costco Wholesale Announces Dividend

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

Insiders Place Their Bets

In other 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 sale, the director directly owned 11,531 shares in the company, valued at approximately $11,300,380. The trade was a 4.53% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, 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 shares were sold at an average price of $974.96, for a total transaction of $3,899,840.00. Following the sale, the executive vice president owned 5,774 shares in the company, valued at approximately $5,629,419.04. This trade represents a 40.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,147 shares of company stock worth $5,031,130 in the last ninety days. Insiders own 0.18% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on COST. Wall Street Zen upgraded shares of Costco Wholesale from a “hold” rating to a “buy” rating in a report on Friday, June 6th. Truist Financial lifted their target price on shares of Costco Wholesale from $995.00 to $1,042.00 and gave the stock a “hold” rating in a report on Friday, May 30th. Morgan Stanley lifted their target price on shares of Costco Wholesale from $1,150.00 to $1,225.00 and gave the stock an “overweight” rating in a report on Friday, May 30th. Loop Capital dropped their target price on shares of Costco Wholesale from $1,115.00 to $1,110.00 and set a “buy” rating on the stock in a report on Thursday, May 29th. Finally, Stifel Nicolaus set a $1,035.00 target price on shares of Costco Wholesale in a report on Thursday, May 29th. Seventeen investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat, Costco Wholesale has an average rating of “Moderate Buy” and a consensus target price of $1,056.67.

Costco Wholesale Company 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.