Bank of Stockton raised its position in shares of Costco Wholesale Co. (NASDAQ:COST) by 6.8% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 9,302 shares of the retailer’s stock after purchasing an additional 595 shares during the quarter. Costco Wholesale accounts for 1.1% of Bank of Stockton’s portfolio, making the stock its 19th largest position. Bank of Stockton’s holdings in Costco Wholesale were worth $2,184,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of the business. MUFG Securities EMEA plc purchased a new stake in shares of Costco Wholesale in the second quarter worth about $103,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors purchased a new stake in shares of Costco Wholesale in the second quarter worth about $119,000. Trilogy Capital Inc. purchased a new stake in shares of Costco Wholesale in the first quarter worth about $116,000. Zions Bancorporation purchased a new stake in shares of Costco Wholesale in the second quarter worth about $160,000. Finally, BerganKDV Wealth Management LLC purchased a new stake in shares of Costco Wholesale in the second quarter worth about $179,000. Institutional investors and hedge funds own 71.49% of the company’s stock.
In related news, VP James P. Murphy sold 15,000 shares of the stock in a transaction that occurred on Monday, July 23rd. The stock was sold at an average price of $219.22, for a total value of $3,288,300.00. Following the completion of the sale, the vice president now owns 33,834 shares of the company’s stock, valued at $7,417,089.48. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director John W. Meisenbach sold 3,000 shares of the stock in a transaction that occurred on Wednesday, August 1st. The shares were sold at an average price of $218.65, for a total value of $655,950.00. The disclosure for this sale can be found here. Insiders have sold 24,000 shares of company stock valued at $5,351,100 in the last three months. Insiders own 0.58% of the company’s stock.
Shares of Costco Wholesale stock opened at $223.93 on Tuesday. Costco Wholesale Co. has a 12 month low of $154.11 and a 12 month high of $245.16. The company has a market cap of $103.00 billion, a price-to-earnings ratio of 38.48, a PEG ratio of 2.78 and a beta of 0.95. The company has a quick ratio of 0.47, a current ratio of 1.01 and a debt-to-equity ratio of 0.52.
Costco Wholesale (NASDAQ:COST) last announced its earnings results on Thursday, October 4th. The retailer reported $2.36 EPS for the quarter, beating analysts’ consensus estimates of $2.34 by $0.02. Costco Wholesale had a return on equity of 24.67% and a net margin of 2.16%. The business had revenue of $44.41 billion during the quarter, compared to analysts’ expectations of $44.17 billion. During the same quarter in the prior year, the firm earned $2.08 earnings per share. The business’s revenue was up 5.0% compared to the same quarter last year. As a group, equities research analysts anticipate that Costco Wholesale Co. will post 6.8 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 14th. Shareholders of record on Friday, August 31st were issued a dividend of $0.57 per share. The ex-dividend date was Thursday, August 30th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 1.02%. Costco Wholesale’s payout ratio is currently 39.18%.
A number of analysts have recently commented on COST shares. Loop Capital upped their target price on Costco Wholesale to $230.00 and gave the stock a “buy” rating in a research note on Wednesday, June 20th. ValuEngine raised Costco Wholesale from a “hold” rating to a “buy” rating in a report on Thursday, June 21st. Northcoast Research cut Costco Wholesale from a “buy” rating to a “neutral” rating in a report on Friday, July 6th. Wells Fargo & Co upped their price target on Costco Wholesale from $220.00 to $235.00 and gave the stock an “outperform” rating in a report on Thursday, July 12th. Finally, Raymond James upped their price target on Costco Wholesale from $205.00 to $225.00 and gave the stock an “outperform” rating in a report on Tuesday, July 17th. Ten investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. Costco Wholesale currently has an average rating of “Buy” and a consensus target price of $237.94.
Costco Wholesale Profile
Costco Wholesale Corporation, together with its subsidiaries, operates membership warehouses. It offers branded and private-label products in a range of merchandise categories. The company provides dry and packaged foods, and groceries; snack foods, candies, alcoholic and nonalcoholic beverages, and cleaning supplies; appliances, electronics, health and beauty aids, hardware, and garden and patio products; meat, bakery, deli, and produces; and apparel and small appliances.
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