Indiana Trust & Investment Management CO decreased its holdings in Costco Wholesale Co. (NASDAQ:COST) by 6.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 10,038 shares of the retailer’s stock after selling 670 shares during the quarter. Costco Wholesale accounts for about 1.1% of Indiana Trust & Investment Management CO’s holdings, making the stock its 21st biggest holding. Indiana Trust & Investment Management CO’s holdings in Costco Wholesale were worth $2,358,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also bought and sold shares of the company. MUFG Securities EMEA plc acquired a new stake in Costco Wholesale in the second quarter valued at approximately $103,000. Trilogy Capital Inc. acquired a new stake in Costco Wholesale in the first quarter valued at approximately $116,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors acquired a new stake in Costco Wholesale in the second quarter valued at approximately $119,000. Zions Bancorporation acquired a new stake in Costco Wholesale in the second quarter valued at approximately $160,000. Finally, BerganKDV Wealth Management LLC acquired a new stake in Costco Wholesale in the second quarter valued at approximately $179,000. 71.49% of the stock is owned by institutional investors and hedge funds.
A number of analysts have weighed in on COST shares. BidaskClub raised shares of Costco Wholesale from a “buy” rating to a “strong-buy” rating in a report on Wednesday, August 22nd. Stifel Nicolaus raised their price objective on shares of Costco Wholesale from $220.00 to $245.00 and gave the stock a “buy” rating in a report on Friday, September 7th. Zacks Investment Research raised shares of Costco Wholesale from a “hold” rating to a “buy” rating and set a $270.00 price objective on the stock in a report on Tuesday, September 11th. Loop Capital set a $265.00 price objective on shares of Costco Wholesale and gave the stock a “buy” rating in a report on Thursday, September 6th. Finally, Oppenheimer raised their price objective on shares of Costco Wholesale from $210.00 to $250.00 and gave the stock an “outperform” rating in a report on Tuesday, August 21st. Nine research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. Costco Wholesale presently has an average rating of “Buy” and a consensus price target of $237.94.
In other news, VP James P. Murphy sold 15,000 shares of Costco Wholesale stock in a transaction on Monday, July 23rd. The shares were sold at an average price of $219.22, for a total value of $3,288,300.00. Following the transaction, the vice president now directly owns 33,834 shares of the company’s stock, valued at approximately $7,417,089.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John W. Meisenbach sold 3,000 shares of Costco Wholesale stock in a transaction on Wednesday, August 1st. The shares were sold at an average price of $218.65, for a total transaction of $655,950.00. The disclosure for this sale can be found here. Insiders sold a total of 24,000 shares of company stock worth $5,351,100 over the last ninety days. Corporate insiders own 0.58% of the company’s stock.
Shares of Costco Wholesale stock opened at $226.95 on Friday. The firm has a market capitalization of $103.00 billion, a PE ratio of 38.99, a price-to-earnings-growth ratio of 2.78 and a beta of 0.95. Costco Wholesale Co. has a 12 month low of $157.00 and a 12 month high of $245.16. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.47 and a current ratio of 1.01.
Costco Wholesale (NASDAQ:COST) last announced 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 analysts’ expectations of $44.17 billion. Costco Wholesale had a net margin of 2.16% and a return on equity of 24.67%. The company’s quarterly revenue was up 5.0% on a year-over-year basis. During the same period in the previous year, the company posted $2.08 EPS. As a group, equities research analysts expect that Costco Wholesale Co. will post 6.8 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 14th. Stockholders of record on Friday, August 31st were issued a $0.57 dividend. The ex-dividend date of this dividend was Thursday, August 30th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 1.00%. Costco Wholesale’s payout ratio is 39.18%.
Costco Wholesale Company 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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