UMB Bank n.a. Sells 2,253 Shares of Costco Wholesale Corporation $COST

UMB Bank n.a. lessened its position in shares of Costco Wholesale Corporation (NASDAQ:COST) by 2.5% in the second quarter, HoldingsChannel.com reports. The fund owned 88,797 shares of the retailer’s stock after selling 2,253 shares during the period. Costco Wholesale comprises approximately 1.4% of UMB Bank n.a.’s portfolio, making the stock its 16th biggest holding. UMB Bank n.a.’s holdings in Costco Wholesale were worth $87,904,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Investment Management Corp VA ADV acquired a new position in Costco Wholesale during the 4th quarter worth approximately $25,000. Bulwark Capital Corp acquired a new position in Costco Wholesale in the 2nd quarter valued at approximately $25,000. Anderson Financial Strategies LLC increased its position in Costco Wholesale by 900.0% in the 1st quarter. Anderson Financial Strategies LLC now owns 40 shares of the retailer’s stock valued at $38,000 after acquiring an additional 36 shares during the period. eCIO Inc. acquired a new position in Costco Wholesale in the 1st quarter valued at approximately $48,000. Finally, Aspect Partners LLC increased its position in Costco Wholesale by 24.4% in the 1st quarter. Aspect Partners LLC now owns 56 shares of the retailer’s stock valued at $53,000 after acquiring an additional 11 shares during the period. Institutional investors own 68.48% of the company’s stock.

Costco Wholesale Price Performance

Shares of NASDAQ:COST opened at $951.16 on Friday. The firm’s 50 day moving average price is $957.97 and its 200-day moving average price is $972.23. The stock has a market capitalization of $421.82 billion, a PE ratio of 53.95, a price-to-earnings-growth ratio of 5.35 and a beta of 0.97. Costco Wholesale Corporation has a twelve month low of $867.16 and a twelve month high of $1,078.23. The company has a quick ratio of 0.52, a current ratio of 1.02 and a debt-to-equity ratio of 0.21.

Costco Wholesale Announces Dividend

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

Insider Activity

In related news, EVP Teresa A. Jones sold 600 shares of the company’s stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $992.05, for a total value of $595,230.00. Following the sale, the executive vice president owned 2,362 shares in the company, valued at $2,343,222.10. This represents a 20.26% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Yoram Rubanenko sold 4,000 shares of the business’s stock in a transaction that occurred on Monday, July 14th. The shares were sold at an average price of $974.96, for a total value of $3,899,840.00. Following the completion of the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.18% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Evercore ISI cut their target price on shares of Costco Wholesale from $1,075.00 to $1,060.00 and set an “outperform” rating on the stock in a research note on Tuesday, June 17th. Truist Financial raised their price objective on shares of Costco Wholesale from $995.00 to $1,042.00 and gave the company a “hold” rating in a research note on Friday, May 30th. Wolfe Research assumed coverage on shares of Costco Wholesale in a research note on Thursday. They issued a “peer perform” rating on the stock. Stifel Nicolaus set a $1,035.00 price objective on shares of Costco Wholesale in a research note on Thursday, May 29th. Finally, Loop Capital dropped their price objective on shares of Costco Wholesale from $1,115.00 to $1,110.00 and set a “buy” rating on the stock in a research note on Thursday, May 29th. Seventeen research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat.com, Costco Wholesale has an average rating of “Moderate Buy” and a consensus price target 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.