City State Bank Reduces Stake in Costco Wholesale Co. (NASDAQ:COST)

City State Bank lessened its holdings in shares of Costco Wholesale Co. (NASDAQ:COST) by 2.1% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,238 shares of the retailer’s stock after selling 47 shares during the quarter. City State Bank’s holdings in Costco Wholesale were worth $1,984,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in COST. Redmont Wealth Advisors LLC purchased a new position in shares of Costco Wholesale during the 1st quarter worth approximately $32,000. Financial Connections Group Inc. lifted its stake in shares of Costco Wholesale by 557.1% in the 2nd quarter. Financial Connections Group Inc. now owns 46 shares of the retailer’s stock valued at $39,000 after purchasing an additional 39 shares during the period. Bank & Trust Co bought a new stake in shares of Costco Wholesale during the second quarter valued at approximately $48,000. Ruedi Wealth Management Inc. grew its stake in Costco Wholesale by 73.5% in the second quarter. Ruedi Wealth Management Inc. now owns 59 shares of the retailer’s stock worth $50,000 after purchasing an additional 25 shares during the period. Finally, Summit Securities Group LLC bought a new position in Costco Wholesale in the second quarter worth $50,000. Hedge funds and other institutional investors own 68.48% of the company’s stock.

Insider Transactions at Costco Wholesale

In related news, insider Daniel M. Hines sold 1,500 shares of the stock in a transaction on Monday, July 15th. The stock was sold at an average price of $848.53, for a total transaction of $1,272,795.00. Following the sale, the insider now owns 10,992 shares in the company, valued at approximately $9,327,041.76. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, EVP Claudine Adamo sold 3,200 shares of the business’s stock in a transaction on Monday, September 30th. The stock was sold at an average price of $888.99, for a total transaction of $2,844,768.00. Following the completion of the transaction, the executive vice president now owns 8,630 shares in the company, valued at $7,671,983.70. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Daniel M. Hines sold 1,500 shares of the business’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $848.53, for a total transaction of $1,272,795.00. Following the sale, the insider now directly owns 10,992 shares of the company’s stock, valued at $9,327,041.76. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 6,674 shares of company stock worth $5,831,324. 0.18% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. Gordon Haskett upgraded shares of Costco Wholesale from an “accumulate” rating to a “buy” rating and set a $925.00 target price on the stock in a report on Thursday, August 8th. BMO Capital Markets restated an “outperform” rating and issued a $980.00 price objective (up previously from $950.00) on shares of Costco Wholesale in a report on Friday, September 27th. Stifel Nicolaus lifted their target price on shares of Costco Wholesale from $925.00 to $935.00 and gave the company a “buy” rating in a report on Thursday. DA Davidson reissued a “neutral” rating and issued a $880.00 price target on shares of Costco Wholesale in a research report on Thursday. Finally, Tigress Financial raised their price objective on Costco Wholesale from $870.00 to $975.00 and gave the company a “buy” rating in a research report on Tuesday, June 25th. Ten investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $886.74.

Costco Wholesale Stock Performance

NASDAQ COST opened at $889.03 on Friday. The stock has a market capitalization of $394.14 billion, a PE ratio of 55.08, a P/E/G ratio of 5.53 and a beta of 0.80. Costco Wholesale Co. has a 1-year low of $540.23 and a 1-year high of $923.83. The business has a 50 day simple moving average of $882.80 and a two-hundred day simple moving average of $827.34. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.97 and a quick ratio of 0.44.

Costco Wholesale (NASDAQ:COST) last announced its earnings results on Thursday, September 26th. The retailer reported $5.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.05 by $0.10. The firm had revenue of $79.70 billion for the quarter, compared to analysts’ expectations of $79.91 billion. Costco Wholesale had a net margin of 2.90% and a return on equity of 31.05%. The business’s revenue was up 1.0% compared to the same quarter last year. During the same period in the prior year, the company earned $4.86 EPS. On average, research analysts predict that Costco Wholesale Co. will post 17.73 EPS for the current fiscal year.

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.