Trust Point Inc. Increases Position in Costco Wholesale Co. (NASDAQ:COST)

Trust Point Inc. increased its holdings in Costco Wholesale Co. (NASDAQ:COST) by 2.5% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,835 shares of the retailer’s stock after acquiring an additional 69 shares during the quarter. Trust Point Inc.’s holdings in Costco Wholesale were worth $2,513,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Redmont Wealth Advisors LLC acquired a new stake in shares of Costco Wholesale during the first quarter worth approximately $32,000. Financial Connections Group Inc. grew its holdings in Costco Wholesale by 557.1% during the 2nd quarter. Financial Connections Group Inc. now owns 46 shares of the retailer’s stock worth $39,000 after acquiring an additional 39 shares in the last quarter. Bank & Trust Co bought a new stake in shares of Costco Wholesale in the 2nd quarter worth about $48,000. Ruedi Wealth Management Inc. increased its position in shares of Costco Wholesale by 73.5% in the 2nd quarter. Ruedi Wealth Management Inc. now owns 59 shares of the retailer’s stock worth $50,000 after purchasing an additional 25 shares during the last quarter. Finally, Summit Securities Group LLC acquired a new stake in shares of Costco Wholesale in the 2nd quarter valued at about $50,000. Hedge funds and other institutional investors own 68.48% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on COST shares. Morgan Stanley boosted their price objective on Costco Wholesale from $855.00 to $950.00 and gave the company an “overweight” rating in a report on Monday, September 9th. Truist Financial downgraded Costco Wholesale from a “buy” rating to a “hold” rating and set a $873.00 price target for the company. in a report on Tuesday, September 24th. Loop Capital upped their price target on Costco Wholesale from $975.00 to $1,005.00 and gave the company a “buy” rating in a research report on Friday, September 27th. Robert W. Baird lifted their price objective on shares of Costco Wholesale from $850.00 to $975.00 and gave the stock an “outperform” rating in a report on Thursday, July 11th. Finally, Wells Fargo & Company increased their target price on shares of Costco Wholesale from $800.00 to $850.00 and gave the stock an “equal weight” rating in a report on Friday, September 27th. Ten investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $890.07.

Insider Buying and Selling

In related news, EVP Richard A. Galanti sold 500 shares of Costco Wholesale stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $874.05, for a total transaction of $437,025.00. Following the completion of the sale, the executive vice president now owns 22,900 shares of the company’s stock, valued at approximately $20,015,745. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Costco Wholesale news, EVP Richard A. Galanti sold 500 shares of Costco Wholesale stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $874.05, for a total value of $437,025.00. Following the completion of the sale, the executive vice president now directly owns 22,900 shares in the company, valued at $20,015,745. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Claudine Adamo sold 3,200 shares of the stock in a transaction on Monday, September 30th. The stock was sold at an average price of $888.99, for a total transaction of $2,844,768.00. Following the transaction, the executive vice president now owns 8,630 shares in the company, valued at approximately $7,671,983.70. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 11,224 shares of company stock worth $9,974,973. Corporate insiders own 0.18% of the company’s stock.

Costco Wholesale Stock Up 0.5 %

Shares of Costco Wholesale stock opened at $889.56 on Friday. Costco Wholesale Co. has a 1 year low of $540.23 and a 1 year high of $923.83. The company has a market cap of $394.14 billion, a P/E ratio of 53.69, a P/E/G ratio of 5.48 and a beta of 0.80. The company has a current ratio of 0.97, a quick ratio of 0.44 and a debt-to-equity ratio of 0.25. The stock has a 50-day moving average price of $889.26 and a 200 day moving average price of $832.21.

Costco Wholesale (NASDAQ:COST) last posted its quarterly earnings results on Thursday, September 26th. The retailer reported $5.15 EPS for the quarter, topping the consensus estimate of $5.05 by $0.10. Costco Wholesale had a net margin of 2.90% and a return on equity of 31.05%. The business had revenue of $79.70 billion during the quarter, compared to analysts’ expectations of $79.91 billion. During the same period last year, the company posted $4.86 earnings per share. The firm’s quarterly revenue was up 1.0% compared to the same quarter last year. As a group, analysts expect that Costco Wholesale Co. will post 17.74 EPS for the current fiscal year.

Costco Wholesale Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 1st will be issued a dividend of $1.16 per share. This represents a $4.64 annualized dividend and a dividend yield of 0.52%. The ex-dividend date of this dividend is Friday, November 1st. Costco Wholesale’s dividend payout ratio is currently 28.00%.

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.