Provident Trust Co. Cuts Stock Position in Costco Wholesale Co. (NASDAQ:COST)

Provident Trust Co. trimmed its holdings in shares of Costco Wholesale Co. (NASDAQ:COST - Free Report) by 2.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 815,340 shares of the retailer's stock after selling 22,789 shares during the period. Costco Wholesale accounts for about 12.9% of Provident Trust Co.'s holdings, making the stock its biggest holding. Provident Trust Co. owned approximately 0.18% of Costco Wholesale worth $747,072,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the stock. Geode Capital Management LLC grew its stake in Costco Wholesale by 1.7% during the 3rd quarter. Geode Capital Management LLC now owns 9,487,057 shares of the retailer's stock valued at $8,380,648,000 after purchasing an additional 162,191 shares in the last quarter. FMR LLC boosted its stake in shares of Costco Wholesale by 3.6% during the 3rd quarter. FMR LLC now owns 9,308,615 shares of the retailer's stock valued at $8,252,274,000 after buying an additional 324,973 shares during the last quarter. International Assets Investment Management LLC increased its stake in shares of Costco Wholesale by 113,947.9% in the third quarter. International Assets Investment Management LLC now owns 7,370,916 shares of the retailer's stock worth $6,534,464,000 after buying an additional 7,364,453 shares during the last quarter. Jennison Associates LLC increased its holdings in Costco Wholesale by 3.8% in the third quarter. Jennison Associates LLC now owns 3,399,127 shares of the retailer's stock valued at $3,013,394,000 after buying an additional 125,444 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Costco Wholesale by 2.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,075,065 shares of the retailer's stock worth $2,726,107,000 after acquiring an additional 70,561 shares during the period. Institutional investors and hedge funds own 68.48% of the company's stock.

Costco Wholesale Stock Down 0.8 %

Shares of COST stock traded down $8.32 during trading on Friday, hitting $1,026.51. 621,706 shares of the company were exchanged, compared to its average volume of 1,870,614. The firm has a market capitalization of $455.67 billion, a price-to-earnings ratio of 60.27, a P/E/G ratio of 6.32 and a beta of 0.84. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.43 and a current ratio of 0.98. The business's 50-day simple moving average is $974.70 and its 200 day simple moving average is $928.97. Costco Wholesale Co. has a twelve month low of $697.27 and a twelve month high of $1,078.23.

Costco Wholesale Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, February 21st. Stockholders of record on Friday, February 7th will be issued a dividend of $1.16 per share. This represents a $4.64 annualized dividend and a dividend yield of 0.45%. The ex-dividend date of this dividend is Friday, February 7th. Costco Wholesale's dividend payout ratio is currently 27.25%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. TD Cowen raised their price target on shares of Costco Wholesale from $975.00 to $1,090.00 and gave the company a "buy" rating in a research note on Friday, December 13th. BMO Capital Markets boosted their price target on Costco Wholesale from $1,075.00 to $1,175.00 and gave the stock an "outperform" rating in a research report on Friday, December 13th. Barclays raised their price target on Costco Wholesale from $850.00 to $940.00 and gave the company an "equal weight" rating in a report on Friday, December 13th. Citigroup lifted their price objective on shares of Costco Wholesale from $800.00 to $1,060.00 and gave the company a "neutral" rating in a research note on Wednesday, December 18th. Finally, Loop Capital increased their target price on shares of Costco Wholesale from $1,005.00 to $1,095.00 and gave the company a "buy" rating in a research report on Friday, December 13th. Nine investment analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $1,021.93.

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.