PNC Financial Services Group Inc. Grows Stock Holdings in Costco Wholesale Corporation $COST

PNC Financial Services Group Inc. raised its position in Costco Wholesale Corporation (NASDAQ:COST) by 0.3% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 582,158 shares of the retailer’s stock after acquiring an additional 1,868 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Costco Wholesale were worth $576,302,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in COST. Peterson Wealth Services lifted its position in Costco Wholesale by 0.5% in the second quarter. Peterson Wealth Services now owns 13,616 shares of the retailer’s stock valued at $13,479,000 after acquiring an additional 72 shares during the last quarter. Fishman Jay A Ltd. MI lifted its holdings in shares of Costco Wholesale by 3.5% in the 2nd quarter. Fishman Jay A Ltd. MI now owns 16,888 shares of the retailer’s stock valued at $16,718,000 after purchasing an additional 575 shares during the last quarter. Independent Solutions Wealth Management LLC boosted its position in shares of Costco Wholesale by 0.3% in the 2nd quarter. Independent Solutions Wealth Management LLC now owns 20,638 shares of the retailer’s stock valued at $20,430,000 after purchasing an additional 53 shares during the period. Laffer Tengler Investments Inc. grew its stake in Costco Wholesale by 22.7% during the 2nd quarter. Laffer Tengler Investments Inc. now owns 5,903 shares of the retailer’s stock worth $5,844,000 after buying an additional 1,092 shares during the last quarter. Finally, Graybill Wealth Management LTD. acquired a new position in shares of Costco Wholesale in the 1st quarter valued at $3,095,000. Hedge funds and other institutional investors own 68.48% of the company’s stock.

Costco Wholesale Price Performance

Shares of NASDAQ:COST opened at $913.86 on Wednesday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.55 and a current ratio of 1.03. The business’s fifty day moving average price is $937.07 and its two-hundred day moving average price is $967.78. The stock has a market cap of $405.00 billion, a PE ratio of 50.18, a price-to-earnings-growth ratio of 5.54 and a beta of 0.98. Costco Wholesale Corporation has a one year low of $871.71 and a one year high of $1,078.23.

Costco Wholesale (NASDAQ:COST) last posted its quarterly earnings data on Thursday, September 25th. The retailer reported $5.87 EPS for the quarter, beating analysts’ consensus estimates of $5.81 by $0.06. The business had revenue of $86.16 billion for the quarter, compared to analyst estimates of $86.01 billion. Costco Wholesale had a return on equity of 30.09% and a net margin of 2.94%.The business’s revenue for the quarter was up 8.1% compared to the same quarter last year. During the same quarter last year, the company earned $5.15 earnings per share. On average, analysts forecast that Costco Wholesale Corporation will post 18.03 EPS for the current fiscal year.

Costco Wholesale Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, October 31st will be paid a dividend of $1.30 per share. The ex-dividend date of this dividend is Friday, October 31st. This represents a $5.20 annualized dividend and a dividend yield of 0.6%. Costco Wholesale’s dividend payout ratio is presently 28.56%.

Insiders Place Their Bets

In other Costco Wholesale news, EVP Teresa A. Jones sold 600 shares of the firm’s stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $992.05, for a total value of $595,230.00. Following the sale, the executive vice president directly owned 2,362 shares of the company’s stock, valued at approximately $2,343,222.10. This trade represents a 20.26% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Tiffany Marie Barbre sold 1,239 shares of Costco Wholesale stock in a transaction dated Friday, October 24th. The shares were sold at an average price of $934.62, for a total value of $1,157,994.18. Following the completion of the sale, the insider owned 5,155 shares of the company’s stock, valued at $4,817,966.10. This trade represents a 19.38% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 7,920 shares of company stock worth $7,373,175 over the last ninety days. Company insiders own 0.18% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Mizuho lowered their price objective on shares of Costco Wholesale from $975.00 to $950.00 and set a “neutral” rating on the stock in a research report on Thursday, October 9th. Wolfe Research began coverage on Costco Wholesale in a report on Thursday, September 18th. They set a “peer perform” rating on the stock. Citigroup decreased their price objective on Costco Wholesale from $1,065.00 to $990.00 and set a “neutral” rating for the company in a research report on Monday, September 29th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Costco Wholesale in a research note on Wednesday, October 8th. Finally, BTIG Research assumed coverage on Costco Wholesale in a research report on Tuesday, October 14th. They set a “buy” rating and a $1,115.00 target price on the stock. Nineteen equities research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,063.88.

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.