WASHINGTON TRUST Co trimmed its holdings in shares of Costco Wholesale Co. (NASDAQ:COST) by 1.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 39,117 shares of the retailer’s stock after selling 496 shares during the quarter. WASHINGTON TRUST Co’s holdings in Costco Wholesale were worth $9,188,000 at the end of the most recent quarter.
Other institutional investors have also bought and sold shares of the company. Parkside Investments LLC acquired a new stake in shares of Costco Wholesale in the third quarter valued at about $105,000. MUFG Securities EMEA plc acquired a new stake in shares of Costco Wholesale in the second quarter valued at about $103,000. Lee Financial Co grew its position in shares of Costco Wholesale by 63.7% in the third quarter. Lee Financial Co now owns 555 shares of the retailer’s stock valued at $130,000 after purchasing an additional 216 shares during the last quarter. Capital Advisors Ltd. LLC grew its position in shares of Costco Wholesale by 180.0% in the third quarter. Capital Advisors Ltd. LLC now owns 560 shares of the retailer’s stock valued at $132,000 after purchasing an additional 360 shares during the last quarter. Finally, Bay Colony Advisory Group Inc d b a Bay Colony Advisors acquired a new stake in shares of Costco Wholesale in the second quarter valued at about $119,000. 71.82% of the stock is currently owned by hedge funds and other institutional investors.
Several brokerages have recently issued reports on COST. BidaskClub raised Costco Wholesale from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, October 23rd. Northcoast Research raised Costco Wholesale from a “neutral” rating to a “buy” rating in a research report on Friday, October 12th. Argus reaffirmed a “buy” rating and issued a $255.00 price target on shares of Costco Wholesale in a research report on Thursday, October 11th. Loop Capital set a $265.00 price target on Costco Wholesale and gave the company a “buy” rating in a research report on Wednesday, October 10th. Finally, Royal Bank of Canada lowered their price target on Costco Wholesale from $255.00 to $253.00 and set an “outperform” rating on the stock in a research report on Friday, October 5th. Eight equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $237.94.
Costco Wholesale (NASDAQ:COST) last released its earnings results on Thursday, October 4th. The retailer reported $2.36 earnings per share for the quarter, topping analysts’ consensus estimates of $2.34 by $0.02. Costco Wholesale had a return on equity of 24.67% and a net margin of 2.21%. The business had revenue of $44.41 billion for the quarter, compared to the consensus estimate of $44.17 billion. During the same period last year, the business earned $2.08 earnings per share. The firm’s revenue for the quarter was up 5.0% compared to the same quarter last year. On average, sell-side analysts predict that Costco Wholesale Co. will post 7.71 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, November 23rd. Investors of record on Friday, November 9th were given a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 0.99%. The ex-dividend date of this dividend was Thursday, November 8th. Costco Wholesale’s dividend payout ratio (DPR) is presently 33.38%.
In other Costco Wholesale news, VP Richard A. Galanti sold 4,163 shares of the firm’s stock in a transaction dated Tuesday, October 30th. The shares were sold at an average price of $227.23, for a total transaction of $945,958.49. Following the completion of the transaction, the vice president now owns 32,270 shares in the company, valued at $7,332,712.10. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Roland Michael Vachris sold 6,600 shares of the firm’s stock in a transaction dated Monday, October 15th. The stock was sold at an average price of $225.88, for a total transaction of $1,490,808.00. Following the transaction, the vice president now owns 17,282 shares of the company’s stock, valued at approximately $3,903,658.16. The disclosure for this sale can be found here. Over the last three months, insiders have sold 64,312 shares of company stock worth $14,547,272. 0.74% of the stock is owned by company insiders.
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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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