Washington Trust Bank Decreases Stock Holdings in Costco Wholesale Co. (NASDAQ:COST)

Washington Trust Bank reduced its position in shares of Costco Wholesale Co. (NASDAQ:COST) by 7.6% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 25,179 shares of the retailer’s stock after selling 2,061 shares during the quarter. Costco Wholesale accounts for approximately 2.1% of Washington Trust Bank’s holdings, making the stock its 11th biggest position. Washington Trust Bank’s holdings in Costco Wholesale were worth $22,322,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in COST. International Assets Investment Management LLC grew its stake in shares of Costco Wholesale by 113,947.9% during the 3rd quarter. International Assets Investment Management LLC now owns 7,370,916 shares of the retailer’s stock valued at $6,534,464,000 after acquiring an additional 7,364,453 shares during the period. Wulff Hansen & CO. grew its stake in shares of Costco Wholesale by 99,208.6% during the 2nd quarter. Wulff Hansen & CO. now owns 1,474,733 shares of the retailer’s stock valued at $1,253,508,000 after acquiring an additional 1,473,248 shares during the period. Assenagon Asset Management S.A. grew its stake in shares of Costco Wholesale by 287.3% during the 2nd quarter. Assenagon Asset Management S.A. now owns 836,247 shares of the retailer’s stock valued at $710,802,000 after acquiring an additional 620,341 shares during the period. Strategic Financial Concepts LLC grew its stake in shares of Costco Wholesale by 51,747.5% during the 2nd quarter. Strategic Financial Concepts LLC now owns 619,578 shares of the retailer’s stock valued at $5,266,000 after acquiring an additional 618,383 shares during the period. Finally, Vanguard Group Inc. grew its stake in shares of Costco Wholesale by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 40,833,870 shares of the retailer’s stock valued at $29,916,118,000 after acquiring an additional 473,702 shares during the period. 68.48% of the stock is currently owned by institutional investors.

Costco Wholesale Stock Up 0.3 %

Shares of COST traded up $2.73 during midday trading on Thursday, reaching $901.98. 107,614 shares of the stock were exchanged, compared to its average volume of 1,913,855. Costco Wholesale Co. has a 52 week low of $562.01 and a 52 week high of $923.83. The company has a current ratio of 0.97, a quick ratio of 0.44 and a debt-to-equity ratio of 0.25. The company’s 50 day moving average is $891.92 and its two-hundred day moving average is $848.69. The company has a market capitalization of $399.64 billion, a P/E ratio of 54.27, a PEG ratio of 5.45 and a beta of 0.80.

Costco Wholesale (NASDAQ:COST) last posted its quarterly earnings results on Thursday, September 26th. The retailer reported $5.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.05 by $0.10. Costco Wholesale had a return on equity of 31.05% and a net margin of 2.90%. The business had revenue of $79.70 billion for the quarter, compared to the consensus estimate of $79.91 billion. During the same quarter in the prior year, the company earned $4.86 EPS. The business’s revenue was up 1.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Costco Wholesale Co. will post 17.75 earnings per share for the current year.

Costco Wholesale Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, November 1st will be given a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a yield of 0.51%. The ex-dividend date of this dividend is Friday, November 1st. Costco Wholesale’s payout ratio is currently 28.00%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Redburn Atlantic downgraded Costco Wholesale from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $860.00 to $890.00 in a research note on Tuesday, September 10th. DA Davidson reissued a “neutral” rating and issued a $880.00 price target on shares of Costco Wholesale in a report on Thursday, October 10th. Evercore ISI boosted their price target on Costco Wholesale from $985.00 to $990.00 and gave the stock an “outperform” rating in a report on Thursday, October 10th. Bank of America boosted their price target on Costco Wholesale from $874.00 to $962.00 and gave the stock a “buy” rating in a report on Thursday, July 11th. Finally, Truist Financial cut Costco Wholesale from a “buy” rating to a “hold” rating and set a $873.00 price target on the stock. in a report on Tuesday, September 24th. Ten analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $905.30.

Insider Activity at Costco Wholesale

In related news, EVP Richard A. Galanti sold 500 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $874.05, for a total transaction of $437,025.00. Following the sale, the executive vice president now owns 22,900 shares of the company’s stock, valued at $20,015,745. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Costco Wholesale news, EVP Claudine Adamo sold 3,200 shares of the firm’s stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $888.99, for a total value of $2,844,768.00. Following the completion of the sale, the executive vice president now owns 8,630 shares of the company’s stock, valued at approximately $7,671,983.70. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Richard A. Galanti sold 500 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $874.05, for a total value of $437,025.00. Following the completion of the sale, the executive vice president now directly owns 22,900 shares of the company’s stock, valued at approximately $20,015,745. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 12,636 shares of company stock valued at $11,238,510 over the last quarter. 0.18% of the stock is owned by corporate insiders.

Costco Wholesale Company Profile

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.