Smithfield Trust Co Lowers Position in Costco Wholesale Co. (NASDAQ:COST)

Smithfield Trust Co reduced its stake in Costco Wholesale Co. (NASDAQ:COST) by 0.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,041 shares of the retailer’s stock after selling 13 shares during the period. Smithfield Trust Co’s holdings in Costco Wholesale were worth $1,812,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in COST. Financial Connections Group Inc. boosted its position in shares of Costco Wholesale by 557.1% during the second quarter. Financial Connections Group Inc. now owns 46 shares of the retailer’s stock worth $39,000 after buying an additional 39 shares during the period. Bank & Trust Co purchased a new position in Costco Wholesale in the second quarter worth approximately $48,000. Ruedi Wealth Management Inc. grew its holdings in Costco Wholesale by 73.5% during the 2nd quarter. Ruedi Wealth Management Inc. now owns 59 shares of the retailer’s stock worth $50,000 after acquiring an additional 25 shares in the last quarter. Summit Securities Group LLC purchased a new stake in shares of Costco Wholesale during the 2nd quarter worth $50,000. Finally, Fairway Wealth LLC lifted its holdings in Costco Wholesale by 230.0% during the 2nd quarter. Fairway Wealth LLC now owns 66 shares of the retailer’s stock worth $56,000 after buying an additional 46 shares during the last quarter. 68.48% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Costco Wholesale

In other Costco Wholesale news, EVP Richard A. Galanti sold 1,416 shares of the stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $894.68, for a total transaction of $1,266,866.88. Following the sale, the executive vice president now owns 27,400 shares of the company’s stock, valued at $24,514,232. This represents a 4.91 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Russell D. Miller sold 4,400 shares of the business’s stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $891.15, for a total transaction of $3,921,060.00. Following the completion of the transaction, the executive vice president now owns 10,202 shares of the company’s stock, valued at $9,091,512.30. This trade represents a 30.13 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 11,016 shares of company stock valued at $9,826,115 over the last quarter. 0.18% of the stock is owned by company insiders.

Costco Wholesale Price Performance

Shares of NASDAQ:COST opened at $928.08 on Thursday. The business has a 50-day moving average of $899.35 and a two-hundred day moving average of $862.71. 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 Co. has a fifty-two week low of $577.71 and a fifty-two week high of $962.00. The stock has a market capitalization of $411.20 billion, a P/E ratio of 56.01, a P/E/G ratio of 5.74 and a beta of 0.80.

Costco Wholesale (NASDAQ:COST) last posted its quarterly earnings data on Thursday, September 26th. The retailer reported $5.15 EPS for the quarter, topping analysts’ consensus estimates of $5.05 by $0.10. The business had revenue of $79.70 billion for the quarter, compared to analyst estimates of $79.91 billion. Costco Wholesale had a return on equity of 31.05% and a net margin of 2.90%. The firm’s revenue for the quarter was up 1.0% on a year-over-year basis. During the same period in the previous year, the company posted $4.86 earnings per share. On average, equities research analysts predict that Costco Wholesale Co. will post 17.75 EPS for the current fiscal year.

Costco Wholesale Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 1st were paid a dividend of $1.16 per share. The ex-dividend date was Friday, November 1st. This represents a $4.64 dividend on an annualized basis and a yield of 0.50%. Costco Wholesale’s dividend payout ratio is currently 28.00%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on COST. StockNews.com cut shares of Costco Wholesale from a “buy” rating to a “hold” rating in a research report on Friday, September 27th. Melius Research assumed coverage on Costco Wholesale in a report on Monday, September 23rd. They issued a “hold” rating and a $950.00 target price for the company. Wells Fargo & Company raised their price target on Costco Wholesale from $800.00 to $850.00 and gave the stock an “equal weight” rating in a research note on Friday, September 27th. The Goldman Sachs Group boosted their price objective on Costco Wholesale from $876.00 to $995.00 and gave the company a “buy” rating in a research note on Friday, September 27th. Finally, Tigress Financial restated a “buy” rating and set a $1,065.00 target price on shares of Costco Wholesale in a research report on Thursday, October 17th. Ten analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Costco Wholesale has an average rating of “Moderate Buy” and an average target price of $908.81.

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.