Tompkins Financial Corp Lowers Position in Costco Wholesale Co. (NASDAQ:COST)

Tompkins Financial Corp reduced its stake in Costco Wholesale Co. (NASDAQ:COST) by 2.8% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 14,016 shares of the retailer’s stock after selling 407 shares during the quarter. Costco Wholesale makes up 1.2% of Tompkins Financial Corp’s investment portfolio, making the stock its 25th largest holding. Tompkins Financial Corp’s holdings in Costco Wholesale were worth $7,546,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Lantz Financial LLC boosted its position in Costco Wholesale by 3.3% in the second quarter. Lantz Financial LLC now owns 648 shares of the retailer’s stock worth $349,000 after purchasing an additional 21 shares during the last quarter. Sciencast Management LP bought a new stake in Costco Wholesale in the second quarter worth about $297,000. Windsor Group LTD raised its position in Costco Wholesale by 3.2% in the second quarter. Windsor Group LTD now owns 1,256 shares of the retailer’s stock worth $676,000 after acquiring an additional 39 shares during the period. W.H. Cornerstone Investments Inc. raised its position in Costco Wholesale by 1.6% in the second quarter. W.H. Cornerstone Investments Inc. now owns 6,411 shares of the retailer’s stock worth $3,451,000 after acquiring an additional 101 shares during the period. Finally, American National Bank raised its position in Costco Wholesale by 6.7% in the second quarter. American National Bank now owns 20,626 shares of the retailer’s stock worth $11,105,000 after acquiring an additional 1,290 shares during the period. 66.31% of the stock is owned by hedge funds and other institutional investors.

Costco Wholesale Price Performance

NASDAQ:COST traded down $2.46 during mid-day trading on Tuesday, reaching $560.26. The stock had a trading volume of 210,361 shares, compared to its average volume of 1,783,766. The firm has a 50 day moving average price of $551.21 and a two-hundred day moving average price of $519.89. The stock has a market capitalization of $248.25 billion, a P/E ratio of 41.68, a P/E/G ratio of 4.11 and a beta of 0.79. Costco Wholesale Co. has a one year low of $447.90 and a one year high of $571.16. 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 firm also recently announced a quarterly dividend, which was paid on Friday, September 8th. Investors of record on Friday, August 25th were given a $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a yield of 0.73%. The ex-dividend date of this dividend was Thursday, August 24th. Costco Wholesale’s payout ratio is presently 30.22%.

Insider Buying and Selling

In related news, Director Susan L. Decker sold 1,565 shares of Costco Wholesale stock in a transaction on Wednesday, June 28th. The shares were sold at an average price of $533.00, for a total value of $834,145.00. Following the transaction, the director now owns 13,329 shares in the company, valued at approximately $7,104,357. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.22% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have issued reports on COST shares. UBS Group raised their target price on Costco Wholesale from $560.00 to $640.00 and gave the stock a “buy” rating in a research report on Thursday, August 3rd. Robert W. Baird increased their target price on shares of Costco Wholesale from $535.00 to $550.00 in a research report on Friday, July 7th. VNET Group reiterated a “reiterates” rating on shares of Costco Wholesale in a research report on Thursday, June 29th. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $575.00 price target on shares of Costco Wholesale in a report on Monday. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $575.00 price objective on shares of Costco Wholesale in a research note on Thursday, August 31st. Five equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat.com, Costco Wholesale has an average rating of “Moderate Buy” and a consensus price target 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.