First Interstate Bank cut its position in shares of Costco Wholesale Corp. (NASDAQ:COST) by 0.1% during the second quarter, Holdings Channel reports. The firm owned 41,451 shares of the retailer’s stock after selling 25 shares during the period. Costco Wholesale Corp. accounts for approximately 1.4% of First Interstate Bank’s portfolio, making the stock its 26th largest position. First Interstate Bank’s holdings in Costco Wholesale Corp. were worth $6,509,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. FCM Investments TX bought a new position in shares of Costco Wholesale Corp. during the second quarter worth approximately $133,000. Zions Bancorporation raised its position in shares of Costco Wholesale Corp. by 88.2% in the first quarter. Zions Bancorporation now owns 890 shares of the retailer’s stock worth $139,000 after buying an additional 417 shares during the period. Global X Management Co. LLC raised its position in shares of Costco Wholesale Corp. by 276.6% in the second quarter. Global X Management Co. LLC now owns 983 shares of the retailer’s stock worth $154,000 after buying an additional 722 shares during the period. Signaturefd LLC raised its position in shares of Costco Wholesale Corp. by 81.4% in the second quarter. Signaturefd LLC now owns 1,094 shares of the retailer’s stock worth $172,000 after buying an additional 491 shares during the period. Finally, Smith & Howard Wealth Management LLC raised its position in shares of Costco Wholesale Corp. by 4.0% in the first quarter. Smith & Howard Wealth Management LLC now owns 1,297 shares of the retailer’s stock worth $204,000 after buying an additional 50 shares during the period. Institutional investors and hedge funds own 72.99% of the company’s stock.

Shares of Costco Wholesale Corp. (NASDAQ:COST) traded up 0.09% on Tuesday, hitting $151.93. 665,707 shares of the stock were exchanged. Costco Wholesale Corp. has a 12 month low of $138.57 and a 12 month high of $169.73. The company has a market cap of $66.56 billion, a PE ratio of 28.71 and a beta of 0.59. The company has a 50-day moving average price of $162.21 and a 200 day moving average price of $156.40.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 26th. Stockholders of record on Friday, August 12th were issued a $0.45 dividend. The ex-dividend date of this dividend was Wednesday, August 10th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.19%. Costco Wholesale Corp.’s payout ratio is 33.96%.

A number of research analysts recently commented on COST shares. Goldman Sachs Group Inc. upgraded shares of Costco Wholesale Corp. from a “neutral” rating to a “buy” rating and upped their price target for the company from $169.00 to $175.00 in a research note on Wednesday, June 1st. Deutsche Bank AG decreased their price target on shares of Costco Wholesale Corp. from $196.00 to $195.00 and set a “buy” rating on the stock in a research note on Tuesday, May 31st. Vetr lowered shares of Costco Wholesale Corp. from a “strong-buy” rating to a “buy” rating and set a $169.86 target price on the stock. in a research report on Wednesday, June 1st. Bank of America Corp. restated a “buy” rating and set a $165.00 target price on shares of Costco Wholesale Corp. in a research report on Friday, May 27th. Finally, Piper Jaffray Cos. restated a “buy” rating and set a $171.00 target price (down previously from $173.00) on shares of Costco Wholesale Corp. in a research report on Tuesday, May 24th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and eighteen have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $173.69.

In other news, VP Douglas W. Schutt sold 14,656 shares of the business’s stock in a transaction that occurred on Monday, July 11th. The shares were sold at an average price of $166.76, for a total value of $2,444,034.56. Following the completion of the sale, the vice president now directly owns 40,184 shares in the company, valued at approximately $6,701,083.84. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Richard A. Galanti sold 2,400 shares of the business’s stock in a transaction that occurred on Monday, July 11th. The stock was sold at an average price of $167.08, for a total transaction of $400,992.00. Following the completion of the sale, the chief financial officer now owns 30,536 shares of the company’s stock, valued at $5,101,954.88. The disclosure for this sale can be found here. 0.78% of the stock is currently owned by insiders.

Costco Wholesale Corp. Company Profile

Costco Wholesale Corporation (Costco) is engaged in the operation of membership warehouses in the United States (U.S.) and Puerto Rico, Canada, United Kingdom (U.K.), Mexico, Japan, Australia, Spain, and through majority-owned subsidiaries in Taiwan and Korea. The Company operated 663 membership warehouses and an average warehouse is approximately 144,000 square feet.

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