FineMark National Bank & Trust lowered its position in Costco Wholesale Co. (NASDAQ:COST) by 32.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,641 shares of the retailer’s stock after selling 4,534 shares during the quarter. FineMark National Bank & Trust’s holdings in Costco Wholesale were worth $2,264,000 as of its most recent SEC filing.
Several other hedge funds have also recently made changes to their positions in COST. Confluence Investment Management LLC purchased a new position in Costco Wholesale in the 2nd quarter worth about $315,000. Chesley Taft & Associates LLC increased its stake in Costco Wholesale by 0.3% in the 2nd quarter. Chesley Taft & Associates LLC now owns 103,729 shares of the retailer’s stock worth $21,677,000 after buying an additional 288 shares during the period. Independence Advisors LLC purchased a new position in Costco Wholesale in the 2nd quarter worth about $220,000. BKD Wealth Advisors LLC increased its stake in Costco Wholesale by 20.8% in the 2nd quarter. BKD Wealth Advisors LLC now owns 1,435 shares of the retailer’s stock worth $300,000 after buying an additional 247 shares during the period. Finally, Stokes Capital Advisors LLC increased its stake in Costco Wholesale by 3.1% in the 2nd quarter. Stokes Capital Advisors LLC now owns 11,764 shares of the retailer’s stock worth $2,458,000 after buying an additional 355 shares during the period. Institutional investors own 71.65% of the company’s stock.
NASDAQ COST opened at $237.74 on Friday. The company has a current ratio of 1.02, a quick ratio of 0.46 and a debt-to-equity ratio of 0.50. The stock has a market cap of $105.33 billion, a price-to-earnings ratio of 35.14, a price-to-earnings-growth ratio of 3.07 and a beta of 0.91. Costco Wholesale Co. has a one year low of $167.05 and a one year high of $245.16.
Costco Wholesale (NASDAQ:COST) last posted 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. The business had revenue of $44.41 billion for the quarter, compared to the consensus estimate of $44.17 billion. Costco Wholesale had a net margin of 2.21% and a return on equity of 24.67%. The company’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same quarter last year, the firm posted $2.08 EPS. On average, equities research analysts expect that Costco Wholesale Co. will post 7.7 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, November 23rd. Shareholders of record on Friday, November 9th will be given a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 0.96%. The ex-dividend date of this dividend is Thursday, November 8th. Costco Wholesale’s dividend payout ratio (DPR) is 33.38%.
In other news, VP Richard A. Galanti sold 4,163 shares of Costco Wholesale stock in a transaction that occurred on Tuesday, October 30th. The shares were sold at an average price of $227.23, for a total value of $945,958.49. Following the transaction, the vice president now owns 32,270 shares of the company’s stock, valued at approximately $7,332,712.10. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director John W. Meisenbach sold 3,000 shares of Costco Wholesale stock in a transaction that occurred on Monday, October 1st. The stock was sold at an average price of $235.81, for a total transaction of $707,430.00. Following the completion of the transaction, the director now directly owns 8,654 shares in the company, valued at approximately $2,040,699.74. The disclosure for this sale can be found here. Insiders have sold a total of 64,312 shares of company stock worth $14,547,272 in the last three months. Insiders own 0.74% of the company’s stock.
Several research firms recently commented on COST. Zacks Investment Research raised shares of Costco Wholesale from a “hold” rating to a “buy” rating and set a $270.00 price target on the stock in a research note on Tuesday, September 11th. BMO Capital Markets set a $260.00 price target on shares of Costco Wholesale and gave the stock a “buy” rating in a research note on Monday, September 10th. Raymond James raised their price target on shares of Costco Wholesale from $225.00 to $252.00 and gave the stock an “outperform” rating in a research note on Monday, September 10th. Wells Fargo & Co downgraded shares of Costco Wholesale from an “outperform” rating to a “market perform” rating and set a $235.00 price target on the stock. in a research note on Friday, September 14th. Finally, Loop Capital set a $265.00 price target on shares of Costco Wholesale and gave the stock a “buy” rating in a research note on Thursday, September 6th. Nine 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 company. The company currently has a consensus rating of “Buy” and an average price target 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.
Further Reading: Fundamental Analysis and Individual Investors
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