Independence Bank of Kentucky Has $2.60 Million Stock Position in Costco Wholesale Corporation $COST

Independence Bank of Kentucky boosted its position in Costco Wholesale Corporation (NASDAQ:COST) by 2.5% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 2,629 shares of the retailer’s stock after purchasing an additional 63 shares during the period. Independence Bank of Kentucky’s holdings in Costco Wholesale were worth $2,603,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of COST. Corps Capital Advisors LLC lifted its position in Costco Wholesale by 0.7% during the first quarter. Corps Capital Advisors LLC now owns 1,547 shares of the retailer’s stock worth $1,463,000 after acquiring an additional 10 shares during the last quarter. Covestor Ltd lifted its position in Costco Wholesale by 8.6% during the first quarter. Covestor Ltd now owns 126 shares of the retailer’s stock worth $119,000 after acquiring an additional 10 shares during the last quarter. Bank & Trust Co lifted its position in Costco Wholesale by 20.4% during the first quarter. Bank & Trust Co now owns 65 shares of the retailer’s stock worth $61,000 after acquiring an additional 11 shares during the last quarter. Amplius Wealth Advisors LLC lifted its position in Costco Wholesale by 1.3% during the first quarter. Amplius Wealth Advisors LLC now owns 866 shares of the retailer’s stock worth $819,000 after acquiring an additional 11 shares during the last quarter. Finally, Farrell Financial LLC lifted its position in Costco Wholesale by 2.2% during the first quarter. Farrell Financial LLC now owns 522 shares of the retailer’s stock worth $493,000 after acquiring an additional 11 shares during the last quarter. 68.48% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have issued reports on COST shares. JPMorgan Chase & Co. cut their price objective on shares of Costco Wholesale from $1,160.00 to $1,050.00 and set an “overweight” rating for the company in a research report on Friday. Truist Financial cut their price target on Costco Wholesale from $1,042.00 to $1,033.00 and set a “hold” rating for the company in a research note on Friday. Telsey Advisory Group reiterated an “outperform” rating and issued a $1,100.00 price target on shares of Costco Wholesale in a research note on Wednesday, September 24th. Morgan Stanley reduced their target price on Costco Wholesale from $1,225.00 to $1,130.00 and set an “overweight” rating on the stock in a report on Friday. Finally, The Goldman Sachs Group increased their target price on Costco Wholesale from $1,333.00 to $1,418.00 and gave the stock a “buy” rating in a report on Friday. Seventeen analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $1,069.58.

Insider Buying and Selling

In other Costco Wholesale news, EVP Yoram Rubanenko sold 4,000 shares of the business’s stock in a transaction on Monday, July 14th. The shares were sold at an average price of $974.96, for a total transaction of $3,899,840.00. Following the sale, the executive vice president owned 5,774 shares of the company’s stock, valued at approximately $5,629,419.04. The trade was a 40.92% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Teresa A. Jones sold 600 shares of the business’s stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $992.05, for a total transaction of $595,230.00. Following the sale, the executive vice president directly owned 2,362 shares in the company, valued at approximately $2,343,222.10. The trade was a 20.26% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.18% of the company’s stock.

Costco Wholesale Stock Performance

Shares of NASDAQ:COST opened at $915.95 on Monday. The company’s 50 day simple moving average is $955.70 and its 200 day simple moving average is $971.63. The stock has a market capitalization of $406.21 billion, a price-to-earnings ratio of 50.30, a price-to-earnings-growth ratio of 5.15 and a beta of 0.97. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.03 and a quick ratio of 0.55. Costco Wholesale Corporation has a 1 year low of $867.16 and a 1 year high of $1,078.23.

Costco Wholesale (NASDAQ:COST) last announced its quarterly earnings data on Thursday, September 25th. The retailer reported $5.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.81 by $0.06. The business had revenue of $86.16 billion for the quarter, compared to analysts’ expectations of $86.01 billion. Costco Wholesale had a net margin of 2.94% and a return on equity of 30.09%. The firm’s quarterly revenue was up 8.1% compared to the same quarter last year. During the same period last year, the firm posted $5.15 earnings per share. As a group, research analysts predict that Costco Wholesale Corporation will post 18.03 EPS for the current fiscal year.

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 paid a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend was Friday, August 1st. Costco Wholesale’s dividend payout ratio (DPR) is 28.56%.

About Costco Wholesale

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.