Costco Wholesale Corporation $COST Holdings Lowered by Adirondack Trust Co.

Adirondack Trust Co. trimmed its stake in shares of Costco Wholesale Corporation (NASDAQ:COST) by 2.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,512 shares of the retailer’s stock after selling 33 shares during the period. Adirondack Trust Co.’s holdings in Costco Wholesale were worth $1,497,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Pinnacle Bancorp Inc. lifted its holdings in shares of Costco Wholesale by 0.3% during the second quarter. Pinnacle Bancorp Inc. now owns 5,364 shares of the retailer’s stock valued at $5,310,000 after purchasing an additional 15 shares during the last quarter. Wright Investors Service Inc. lifted its holdings in shares of Costco Wholesale by 33.8% during the second quarter. Wright Investors Service Inc. now owns 3,159 shares of the retailer’s stock valued at $3,127,000 after purchasing an additional 798 shares during the last quarter. My Legacy Advisors LLC lifted its stake in Costco Wholesale by 1.7% in the 2nd quarter. My Legacy Advisors LLC now owns 2,951 shares of the retailer’s stock worth $2,863,000 after acquiring an additional 49 shares in the last quarter. AA Financial Advisors LLC lifted its stake in Costco Wholesale by 21.9% in the 2nd quarter. AA Financial Advisors LLC now owns 1,108 shares of the retailer’s stock worth $1,097,000 after acquiring an additional 199 shares in the last quarter. Finally, Financiere des Professionnels Fonds d investissement inc. purchased a new stake in Costco Wholesale in the 2nd quarter worth about $150,000. 68.48% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on COST shares. Morgan Stanley increased their price objective on Costco Wholesale from $1,150.00 to $1,225.00 and gave the stock an “overweight” rating in a research note on Friday, May 30th. Evercore ISI reduced their price objective on Costco Wholesale from $1,075.00 to $1,060.00 and set an “outperform” rating for the company in a research note on Tuesday, June 17th. Wolfe Research started coverage on Costco Wholesale in a research note on Thursday. They issued a “peer perform” rating for the company. Wall Street Zen raised Costco Wholesale from a “hold” rating to a “buy” rating in a research note on Friday, June 6th. Finally, Telsey Advisory Group reaffirmed an “outperform” rating and set a $1,100.00 price target on shares of Costco Wholesale in a research note on Wednesday, August 27th. Seventeen investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $1,056.67.

Costco Wholesale Stock Performance

Shares of NASDAQ COST opened at $951.16 on Friday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.52 and a current ratio of 1.02. The firm has a market cap of $421.82 billion, a price-to-earnings ratio of 53.95, a P/E/G ratio of 5.35 and a beta of 0.97. The business’s 50-day simple moving average is $957.97 and its 200-day simple moving average is $972.23. 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 disclosed a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Friday, August 1st were issued a dividend of $1.30 per share. The ex-dividend date of this dividend was Friday, August 1st. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.5%. Costco Wholesale’s dividend payout ratio is currently 29.50%.

Insider Transactions at Costco Wholesale

In other Costco Wholesale news, EVP Yoram Rubanenko sold 4,000 shares of the firm’s stock in a transaction that occurred on Monday, July 14th. The stock was sold at an average price of $974.96, for a total value of $3,899,840.00. Following the sale, the executive vice president owned 5,774 shares of the company’s stock, valued at $5,629,419.04. This trade represents a 40.92% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Teresa A. Jones sold 600 shares of the firm’s stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $992.05, for a total value of $595,230.00. Following the completion of the sale, the executive vice president directly owned 2,362 shares in the company, valued at $2,343,222.10. This trade represents a 20.26% decrease in their position. The disclosure for this sale can be found here. Corporate 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.