Argent Trust Co Has $6.79 Million Position in Costco Wholesale Co. (NASDAQ:COST)

Argent Trust Co increased its stake in shares of Costco Wholesale Co. (NASDAQ:COST) by 2.3% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 19,253 shares of the retailer’s stock after acquiring an additional 436 shares during the period. Argent Trust Co’s holdings in Costco Wholesale were worth $6,786,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. St. Johns Investment Management Company LLC bought a new stake in Costco Wholesale during the first quarter worth about $27,000. Cordasco Financial Network bought a new stake in Costco Wholesale during the first quarter worth about $30,000. Charter Oak Capital Management LLC bought a new stake in Costco Wholesale during the fourth quarter worth about $32,000. DB Wealth Management Group LLC bought a new stake in Costco Wholesale during the fourth quarter worth about $38,000. Finally, Sage Financial Management Group Inc. bought a new stake in Costco Wholesale during the first quarter worth about $38,000. Institutional investors and hedge funds own 65.57% of the company’s stock.

In other news, CFO Richard A. Galanti sold 2,230 shares of the company’s stock in a transaction that occurred on Thursday, April 29th. The stock was sold at an average price of $372.06, for a total value of $829,693.80. Following the completion of the transaction, the chief financial officer now owns 22,871 shares of the company’s stock, valued at $8,509,384.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Patrick J. Callans sold 2,500 shares of the company’s stock in a transaction that occurred on Monday, June 7th. The shares were sold at an average price of $384.31, for a total value of $960,775.00. Following the completion of the transaction, the vice president now directly owns 59,718 shares of the company’s stock, valued at approximately $22,950,224.58. The disclosure for this sale can be found here. Insiders sold 9,030 shares of company stock valued at $3,227,959 in the last three months. Company insiders own 0.22% of the company’s stock.

COST traded down $1.92 on Friday, hitting $381.09. 36,964 shares of the stock were exchanged, compared to its average volume of 2,618,807. Costco Wholesale Co. has a 12 month low of $293.84 and a 12 month high of $393.15. The company has a 50-day moving average of $375.16. The company has a quick ratio of 0.50, a current ratio of 1.00 and a debt-to-equity ratio of 0.44. The firm has a market capitalization of $168.47 billion, a price-to-earnings ratio of 36.00, a price-to-earnings-growth ratio of 4.02 and a beta of 0.65.

Costco Wholesale (NASDAQ:COST) last posted its earnings results on Wednesday, May 26th. The retailer reported $2.75 EPS for the quarter, topping analysts’ consensus estimates of $2.28 by $0.47. The firm had revenue of $44.38 billion during the quarter, compared to analysts’ expectations of $43.82 billion. Costco Wholesale had a net margin of 2.53% and a return on equity of 27.30%. The business’s revenue for the quarter was up 21.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.89 earnings per share. On average, equities analysts expect that Costco Wholesale Co. will post 10.37 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, May 14th. Stockholders of record on Friday, April 30th were issued a $0.79 dividend. The ex-dividend date was Thursday, April 29th. This represents a $3.16 dividend on an annualized basis and a dividend yield of 0.83%. This is a boost from Costco Wholesale’s previous quarterly dividend of $0.70. Costco Wholesale’s dividend payout ratio is 35.71%.

Several research firms have issued reports on COST. Barclays upped their price objective on Costco Wholesale from $400.00 to $450.00 and gave the company an “overweight” rating in a research note on Friday, May 28th. They noted that the move was a valuation call. Morgan Stanley upped their price objective on Costco Wholesale from $410.00 to $415.00 and gave the company an “overweight” rating in a research note on Tuesday, June 1st. DA Davidson upped their price objective on Costco Wholesale from $325.00 to $350.00 and gave the company a “neutral” rating in a research note on Tuesday, June 1st. Telsey Advisory Group upped their price objective on Costco Wholesale from $395.00 to $415.00 and gave the company an “outperform” rating in a research note on Friday, May 28th. Finally, Citigroup dropped their price objective on Costco Wholesale from $380.00 to $360.00 and set a “neutral” rating on the stock in a research note on Friday, March 5th. Nine equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $401.00.

Costco Wholesale Profile

Costco Wholesale Corporation, together with its subsidiaries, engages in the operation of membership warehouses in the United States, Puerto Rico, Canada, the United Kingdom, Mexico, Japan, Korea, Australia, Spain, France, Iceland, China, and Taiwan. It offers branded and private-label products in a range of merchandise categories.

Further Reading: Limitations of analyzing profit margin

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Institutional Ownership by Quarter for Costco Wholesale (NASDAQ:COST)

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