Orrstown Financial Services Inc. lessened its holdings in shares of Costco Wholesale Co. (NASDAQ:COST – Get Rating) by 33.7% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,001 shares of the retailer’s stock after selling 508 shares during the quarter. Orrstown Financial Services Inc.’s holdings in Costco Wholesale were worth $576,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also made changes to their positions in the stock. BlackRock Inc. raised its holdings in shares of Costco Wholesale by 3.1% during the fourth quarter. BlackRock Inc. now owns 31,078,322 shares of the retailer’s stock valued at $17,643,166,000 after acquiring an additional 944,199 shares in the last quarter. State Street Corp raised its holdings in Costco Wholesale by 10.2% in the fourth quarter. State Street Corp now owns 18,301,225 shares of the retailer’s stock worth $10,389,605,000 after purchasing an additional 1,697,920 shares in the last quarter. Geode Capital Management LLC raised its holdings in Costco Wholesale by 3.5% in the fourth quarter. Geode Capital Management LLC now owns 7,372,449 shares of the retailer’s stock worth $4,173,133,000 after purchasing an additional 246,857 shares in the last quarter. Alliancebernstein L.P. raised its holdings in Costco Wholesale by 2.7% in the fourth quarter. Alliancebernstein L.P. now owns 5,106,207 shares of the retailer’s stock worth $2,898,794,000 after purchasing an additional 133,943 shares in the last quarter. Finally, Norges Bank bought a new position in Costco Wholesale in the fourth quarter worth $2,323,746,000. Institutional investors own 67.52% of the company’s stock.
Shares of NASDAQ:COST opened at $459.96 on Thursday. The stock has a market capitalization of $203.74 billion, a price-to-earnings ratio of 36.22, a PEG ratio of 3.87 and a beta of 0.71. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.48 and a current ratio of 1.04. The stock’s 50-day simple moving average is $496.50 and its two-hundred day simple moving average is $522.53. Costco Wholesale Co. has a 52-week low of $390.59 and a 52-week high of $612.27.
The company also recently announced a quarterly dividend, which was paid on Friday, May 13th. Shareholders of record on Friday, April 29th were given a $0.90 dividend. This represents a $3.60 annualized dividend and a yield of 0.78%. This is a boost from Costco Wholesale’s previous quarterly dividend of $0.79. The ex-dividend date of this dividend was Thursday, April 28th. Costco Wholesale’s dividend payout ratio (DPR) is presently 28.35%.
In related news, Director Mary Agnes Wilderotter acquired 850 shares of the firm’s stock in a transaction dated Tuesday, June 7th. The shares were purchased at an average price of $470.74 per share, with a total value of $400,129.00. Following the completion of the purchase, the director now directly owns 11,295 shares of the company’s stock, valued at $5,317,008.30. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Timothy L. Rose sold 4,000 shares of the firm’s stock in a transaction dated Tuesday, March 29th. The stock was sold at an average price of $566.29, for a total value of $2,265,160.00. The disclosure for this sale can be found here. Insiders sold 8,998 shares of company stock worth $5,278,469 over the last three months. Insiders own 0.22% of the company’s stock.
A number of research firms have issued reports on COST. Robert W. Baird decreased their price objective on Costco Wholesale from $600.00 to $560.00 and set an “outperform” rating for the company in a report on Friday, May 27th. Citigroup decreased their price objective on Costco Wholesale from $590.00 to $510.00 and set a “neutral” rating for the company in a report on Friday, May 27th. Deutsche Bank Aktiengesellschaft decreased their price objective on Costco Wholesale from $530.00 to $525.00 in a report on Wednesday, May 25th. Telsey Advisory Group decreased their price objective on Costco Wholesale from $615.00 to $590.00 and set an “outperform” rating for the company in a report on Friday, May 27th. Finally, Raymond James cut their target price on Costco Wholesale from $645.00 to $560.00 in a research note on Tuesday, May 31st. Six research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $569.56.
Costco Wholesale Company Profile (Get Rating)
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.
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