Pictet Asset Management Ltd. Decreases Position in Costco Wholesale Co. (NASDAQ:COST)

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Pictet Asset Management Ltd. cut its stake in Costco Wholesale Co. (NASDAQ:COST) by 1.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 197,748 shares of the retailer’s stock after selling 3,223 shares during the quarter. Pictet Asset Management Ltd.’s holdings in Costco Wholesale were worth $52,257,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of COST. Krane Funds Advisors LLC purchased a new position in Costco Wholesale during the second quarter worth approximately $26,000. Massey Quick Simon & CO. LLC purchased a new stake in Costco Wholesale in the 2nd quarter valued at $27,000. Thor Advisors LLC purchased a new stake in Costco Wholesale in the 1st quarter valued at $35,000. JNBA Financial Advisors increased its stake in shares of Costco Wholesale by 484.6% in the 1st quarter. JNBA Financial Advisors now owns 152 shares of the retailer’s stock worth $37,000 after acquiring an additional 126 shares during the last quarter. Finally, Canton Hathaway LLC increased its stake in shares of Costco Wholesale by 41.0% in the 2nd quarter. Canton Hathaway LLC now owns 141 shares of the retailer’s stock worth $37,000 after acquiring an additional 41 shares during the last quarter. Institutional investors own 71.14% of the company’s stock.

In other news, Director Susan L. Decker sold 1,646 shares of Costco Wholesale stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $268.25, for a total value of $441,539.50. Following the completion of the sale, the director now directly owns 41,803 shares of the company’s stock, valued at $11,213,654.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP James P. Murphy sold 10,000 shares of Costco Wholesale stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $265.85, for a total value of $2,658,500.00. Following the completion of the sale, the vice president now directly owns 45,100 shares of the company’s stock, valued at $11,989,835. The disclosure for this sale can be found here. In the last three months, insiders sold 18,346 shares of company stock worth $4,888,035. 0.21% of the stock is owned by corporate insiders.

Shares of COST stock traded down $4.54 during trading hours on Wednesday, hitting $292.46. The company had a trading volume of 1,217,161 shares, compared to its average volume of 2,159,889. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.98 and a quick ratio of 0.48. The stock has a market capitalization of $131.50 billion, a PE ratio of 42.82, a price-to-earnings-growth ratio of 3.96 and a beta of 0.93. The company’s fifty day moving average is $281.72 and its 200 day moving average is $256.49. Costco Wholesale Co. has a fifty-two week low of $189.51 and a fifty-two week high of $307.34.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Friday, August 30th will be issued a $0.65 dividend. The ex-dividend date is Thursday, August 29th. This represents a $2.60 annualized dividend and a yield of 0.89%. Costco Wholesale’s dividend payout ratio (DPR) is presently 38.07%.

Several brokerages have recently weighed in on COST. Guggenheim reissued a “hold” rating on shares of Costco Wholesale in a research report on Friday, September 6th. Zacks Investment Research upgraded shares of Costco Wholesale from a “hold” rating to a “buy” rating and set a $272.00 price objective for the company in a research report on Tuesday, June 11th. Morgan Stanley lifted their target price on shares of Costco Wholesale from $220.00 to $230.00 and gave the stock an “equal weight” rating in a research note on Monday, June 3rd. BMO Capital Markets set a $275.00 target price on shares of Costco Wholesale and gave the company a “buy” rating in a report on Friday, May 31st. Finally, Loop Capital increased their price target on shares of Costco Wholesale to $330.00 and gave the company a “buy” rating in a research note on Friday, September 6th. Nine equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. Costco Wholesale presently has a consensus rating of “Buy” and an average target price of $283.72.

Costco Wholesale Company Profile

Costco Wholesale Corporation, together with its subsidiaries, operates membership warehouses. It offers branded and private-label products in a range of merchandise categories. The company provides dry and packaged foods, and groceries; snack foods, candies, alcoholic and nonalcoholic beverages, and cleaning supplies; appliances, electronics, health and beauty aids, hardware, and garden and patio products; meat, bakery, deli, and produces; and apparel and small appliances.

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

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