First National Bank of South Miami Reduces Position in Costco Wholesale Co. (NASDAQ:COST)

First National Bank of South Miami reduced its holdings in shares of Costco Wholesale Co. (NASDAQ:COST) by 2.2% during the 2nd quarter, HoldingsChannel reports. The firm owned 2,650 shares of the retailer’s stock after selling 60 shares during the period. Costco Wholesale accounts for approximately 1.1% of First National Bank of South Miami’s investment portfolio, making the stock its 20th biggest holding. First National Bank of South Miami’s holdings in Costco Wholesale were worth $1,427,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of COST. High Net Worth Advisory Group LLC grew its stake in shares of Costco Wholesale by 21.5% in the 1st quarter. High Net Worth Advisory Group LLC now owns 3,020 shares of the retailer’s stock valued at $1,501,000 after purchasing an additional 534 shares during the last quarter. Welch & Forbes LLC grew its stake in shares of Costco Wholesale by 0.6% in the 1st quarter. Welch & Forbes LLC now owns 172,597 shares of the retailer’s stock valued at $85,758,000 after purchasing an additional 1,091 shares during the last quarter. Fragasso Group Inc. grew its stake in shares of Costco Wholesale by 12.6% in the 2nd quarter. Fragasso Group Inc. now owns 626 shares of the retailer’s stock valued at $337,000 after purchasing an additional 70 shares during the last quarter. Xponance Inc. grew its stake in shares of Costco Wholesale by 8.6% in the 1st quarter. Xponance Inc. now owns 105,822 shares of the retailer’s stock valued at $52,580,000 after purchasing an additional 8,371 shares during the last quarter. Finally, Hall Laurie J Trustee increased its stake in shares of Costco Wholesale by 19.2% during the first quarter. Hall Laurie J Trustee now owns 378 shares of the retailer’s stock worth $188,000 after acquiring an additional 61 shares during the period. 66.31% of the stock is owned by hedge funds and other institutional investors.

Costco Wholesale Price Performance

Costco Wholesale stock opened at $562.72 on Tuesday. Costco Wholesale Co. has a 1 year low of $447.90 and a 1 year high of $571.16. The firm has a 50 day moving average price of $551.21 and a 200 day moving average price of $519.89. The company has a market cap of $249.34 billion, a price-to-earnings ratio of 41.68, a PEG ratio of 4.11 and a beta of 0.79. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.57 and a current ratio of 1.08.

Costco Wholesale Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 8th. Investors of record on Friday, August 25th were issued a $1.02 dividend. The ex-dividend date was Thursday, August 24th. This represents a $4.08 dividend on an annualized basis and a yield of 0.73%. Costco Wholesale’s payout ratio is 30.22%.

Insider Buying and Selling at Costco Wholesale

In other Costco Wholesale news, Director Susan L. Decker sold 1,565 shares of the business’s stock in a transaction dated Wednesday, June 28th. The stock was sold at an average price of $533.00, for a total transaction of $834,145.00. Following the completion of the sale, the director now owns 13,329 shares of the company’s stock, valued at $7,104,357. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.22% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on COST shares. Wells Fargo & Company boosted their target price on Costco Wholesale from $475.00 to $510.00 in a research report on Thursday, August 3rd. Stifel Nicolaus reiterated a “buy” rating and issued a $575.00 price objective on shares of Costco Wholesale in a research report on Thursday, August 31st. Robert W. Baird raised their target price on Costco Wholesale from $535.00 to $550.00 in a report on Friday, July 7th. UBS Group upped their price target on shares of Costco Wholesale from $560.00 to $640.00 and gave the stock a “buy” rating in a research note on Thursday, August 3rd. Finally, Truist Financial increased their price target on shares of Costco Wholesale from $567.00 to $597.00 and gave the company a “buy” rating in a report on Thursday, August 3rd. Five investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $566.63.

Costco Wholesale Profile

Costco Wholesale Corporation, together with its subsidiaries, engages in the operation of membership warehouses in the United States, Puerto Rico, Canada, the United Kingdom, Mexico, Japan, Korea, Australia, Spain, France, Iceland, China, and Taiwan. It offers branded and private-label products in a range of merchandise categories.