Penobscot Investment Management Company Inc. Has $21.82 Million Position in Costco Wholesale Corporation $COST

Penobscot Investment Management Company Inc. raised its stake in Costco Wholesale Corporation (NASDAQ:COST) by 0.5% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 22,045 shares of the retailer’s stock after buying an additional 116 shares during the period. Costco Wholesale makes up about 1.9% of Penobscot Investment Management Company Inc.’s investment portfolio, making the stock its 10th largest holding. Penobscot Investment Management Company Inc.’s holdings in Costco Wholesale were worth $21,823,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of COST. Nuveen LLC acquired a new position in shares of Costco Wholesale in the first quarter worth about $3,461,159,000. Kingstone Capital Partners Texas LLC raised its holdings in shares of Costco Wholesale by 418,980.3% during the second quarter. Kingstone Capital Partners Texas LLC now owns 2,359,422 shares of the retailer’s stock valued at $2,335,686,000 after acquiring an additional 2,358,859 shares during the period. Vanguard Group Inc. lifted its position in shares of Costco Wholesale by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 42,644,711 shares of the retailer’s stock valued at $40,332,515,000 after acquiring an additional 443,101 shares in the last quarter. National Bank of Canada FI boosted its stake in Costco Wholesale by 84.0% in the 1st quarter. National Bank of Canada FI now owns 812,188 shares of the retailer’s stock worth $768,114,000 after purchasing an additional 370,806 shares during the period. Finally, Invesco Ltd. boosted its stake in Costco Wholesale by 5.2% in the 1st quarter. Invesco Ltd. now owns 3,907,670 shares of the retailer’s stock worth $3,695,796,000 after purchasing an additional 191,985 shares during the period. 68.48% of the stock is owned by institutional investors.

Insider Activity

In other Costco Wholesale news, EVP Teresa A. Jones sold 600 shares of the firm’s stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $992.05, for a total value of $595,230.00. Following the completion of the sale, the executive vice president owned 2,362 shares in the company, valued at approximately $2,343,222.10. This trade represents a 20.26% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Russell D. Miller sold 3,381 shares of the company’s stock in a transaction that occurred on Monday, September 29th. The stock was sold at an average price of $915.00, for a total transaction of $3,093,615.00. Following the transaction, the executive vice president owned 9,740 shares in the company, valued at $8,912,100. The trade was a 25.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 7,981 shares of company stock worth $7,588,685. 0.18% of the stock is owned by corporate insiders.

Costco Wholesale Stock Down 0.2%

NASDAQ COST opened at $915.38 on Friday. The stock’s 50 day moving average is $953.54 and its two-hundred day moving average is $971.61. The company has a current ratio of 1.03, a quick ratio of 0.55 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $405.95 billion, a price-to-earnings ratio of 50.27, a PEG ratio of 5.55 and a beta of 0.98. Costco Wholesale Corporation has a 1-year low of $867.34 and a 1-year high of $1,078.23.

Costco Wholesale (NASDAQ:COST) last released its quarterly earnings results on Thursday, September 25th. The retailer reported $5.87 EPS for the quarter, beating analysts’ consensus estimates of $5.81 by $0.06. The firm had revenue of $86.16 billion for the quarter, compared to analyst estimates of $86.01 billion. Costco Wholesale had a net margin of 2.94% and a return on equity of 30.09%. The company’s revenue for the quarter was up 8.1% compared to the same quarter last year. During the same period in the previous year, the business earned $5.15 earnings per share. Equities analysts forecast that Costco Wholesale Corporation will post 18.03 earnings per share for the current fiscal year.

Costco Wholesale Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Friday, August 1st were issued a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 0.6%. The ex-dividend date was Friday, August 1st. Costco Wholesale’s dividend payout ratio is presently 28.56%.

Wall Street Analyst Weigh In

COST has been the topic of several recent analyst reports. DA Davidson reissued a “neutral” rating and set a $1,000.00 target price on shares of Costco Wholesale in a research note on Friday, September 26th. Morgan Stanley dropped their price target on Costco Wholesale from $1,225.00 to $1,130.00 and set an “overweight” rating on the stock in a research report on Friday, September 26th. Sanford C. Bernstein raised their price objective on Costco Wholesale from $1,137.00 to $1,140.00 and gave the stock an “outperform” rating in a research report on Friday, September 26th. Roth Capital set a $907.00 target price on Costco Wholesale and gave the company a “neutral” rating in a report on Friday, September 26th. Finally, Citigroup reduced their price target on shares of Costco Wholesale from $1,065.00 to $990.00 and set a “neutral” rating for the company in a research report on Monday, September 29th. Nineteen research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,067.19.

Costco Wholesale 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.