United Bank Has $5.29 Million Stock Position in Costco Wholesale Co. (NASDAQ:COST)

United Bank lifted its holdings in Costco Wholesale Co. (NASDAQ:COST) by 7.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,962 shares of the retailer’s stock after acquiring an additional 416 shares during the period. Costco Wholesale makes up approximately 2.4% of United Bank’s portfolio, making the stock its 11th biggest position. United Bank’s holdings in Costco Wholesale were worth $5,285,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Financial Connections Group Inc. raised its position in shares of Costco Wholesale by 557.1% during the second quarter. Financial Connections Group Inc. now owns 46 shares of the retailer’s stock worth $39,000 after purchasing an additional 39 shares during the period. Bank & Trust Co bought a new stake in shares of Costco Wholesale during the second quarter worth about $48,000. Ruedi Wealth Management Inc. lifted its position in Costco Wholesale by 73.5% in the 2nd quarter. Ruedi Wealth Management Inc. now owns 59 shares of the retailer’s stock valued at $50,000 after acquiring an additional 25 shares in the last quarter. Summit Securities Group LLC acquired a new position in Costco Wholesale during the 2nd quarter valued at about $50,000. Finally, Mowery & Schoenfeld Wealth Management LLC bought a new stake in Costco Wholesale during the 3rd quarter worth approximately $58,000. 68.48% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Costco Wholesale

In other Costco Wholesale news, Director Susan L. Decker sold 620 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $876.50, for a total transaction of $543,430.00. Following the completion of the transaction, the director now owns 11,775 shares in the company, valued at $10,320,787.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, Director Susan L. Decker sold 620 shares of the company’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $876.50, for a total value of $543,430.00. Following the completion of the sale, the director now directly owns 11,775 shares of the company’s stock, valued at $10,320,787.50. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Richard A. Galanti sold 1,416 shares of the firm’s stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $894.68, for a total transaction of $1,266,866.88. Following the transaction, the executive vice president now owns 27,400 shares in the company, valued at approximately $24,514,232. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 12,636 shares of company stock valued at $11,238,510. 0.18% of the stock is currently owned by corporate insiders.

Costco Wholesale Stock Up 3.3 %

Shares of NASDAQ:COST opened at $943.80 on Friday. The business has a fifty day moving average of $893.49 and a two-hundred day moving average of $850.73. The company has a quick ratio of 0.44, a current ratio of 0.97 and a debt-to-equity ratio of 0.25. The stock has a market cap of $418.17 billion, a P/E ratio of 56.96, a PEG ratio of 5.53 and a beta of 0.80. Costco Wholesale Co. has a 52-week low of $562.01 and a 52-week high of $962.00.

Costco Wholesale (NASDAQ:COST) last announced its earnings results on Thursday, September 26th. The retailer reported $5.15 earnings per share 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 company had revenue of $79.70 billion during the quarter, compared to analyst estimates of $79.91 billion. During the same quarter last year, the firm posted $4.86 earnings per share. Costco Wholesale’s revenue was up 1.0% compared to the same quarter last year. On average, research analysts expect that Costco Wholesale Co. will post 17.75 earnings per share for the current year.

Costco Wholesale Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 1st will be paid a $1.16 dividend. This represents a $4.64 annualized dividend and a dividend yield of 0.49%. The ex-dividend date is Friday, November 1st. Costco Wholesale’s payout ratio is presently 28.00%.

Analyst Ratings Changes

Several analysts have commented on COST shares. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Costco Wholesale from $925.00 to $927.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. Oppenheimer upped their price objective on shares of Costco Wholesale from $955.00 to $980.00 and gave the company an “outperform” rating in a research note on Thursday, October 10th. Wells Fargo & Company increased their price target on shares of Costco Wholesale from $800.00 to $850.00 and gave the company an “equal weight” rating in a research report on Friday, September 27th. Melius Research initiated coverage on Costco Wholesale in a report on Monday, September 23rd. They set a “hold” rating and a $950.00 target price on the stock. Finally, The Goldman Sachs Group raised their price objective on Costco Wholesale from $876.00 to $995.00 and gave the company a “buy” rating in a research report on Friday, September 27th. Ten investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $905.30.

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.