1ST Source Bank Lowers Position in Costco Wholesale Co. (NASDAQ:COST)

1ST Source Bank trimmed its stake in Costco Wholesale Co. (NASDAQ:COST) by 2.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 11,946 shares of the retailer’s stock after selling 238 shares during the quarter. Costco Wholesale comprises 0.6% of 1ST Source Bank’s portfolio, making the stock its 20th largest position. 1ST Source Bank’s holdings in Costco Wholesale were worth $10,946,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of COST. Cromwell Holdings LLC raised its position in shares of Costco Wholesale by 0.9% in the fourth quarter. Cromwell Holdings LLC now owns 1,144 shares of the retailer’s stock valued at $1,048,000 after purchasing an additional 10 shares during the period. 44 Wealth Management LLC raised its position in shares of Costco Wholesale by 0.3% in the fourth quarter. 44 Wealth Management LLC now owns 3,488 shares of the retailer’s stock valued at $3,196,000 after purchasing an additional 10 shares during the period. SRN Advisors LLC grew its stake in shares of Costco Wholesale by 0.3% in the fourth quarter. SRN Advisors LLC now owns 3,081 shares of the retailer’s stock worth $2,823,000 after acquiring an additional 10 shares during the last quarter. Miramar Capital LLC grew its stake in shares of Costco Wholesale by 1.9% in the fourth quarter. Miramar Capital LLC now owns 525 shares of the retailer’s stock worth $481,000 after acquiring an additional 10 shares during the last quarter. Finally, Sculati Wealth Management LLC grew its stake in shares of Costco Wholesale by 0.3% in the third quarter. Sculati Wealth Management LLC now owns 3,649 shares of the retailer’s stock worth $3,235,000 after acquiring an additional 11 shares during the last quarter. 68.48% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. raised their price objective on shares of Costco Wholesale from $1,065.00 to $1,070.00 and gave the stock an “overweight” rating in a research note on Friday, March 7th. Jefferies Financial Group raised their price objective on shares of Costco Wholesale from $1,050.00 to $1,145.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. DA Davidson raised their price objective on shares of Costco Wholesale from $900.00 to $1,000.00 and gave the stock a “neutral” rating in a research note on Thursday, February 6th. Robert W. Baird raised their price objective on shares of Costco Wholesale from $1,075.00 to $1,125.00 and gave the stock an “outperform” rating in a research note on Friday, March 7th. Finally, Truist Financial raised their price objective on shares of Costco Wholesale from $935.00 to $995.00 and gave the stock a “hold” rating in a research note on Friday, March 7th. Nine research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $1,030.43.

Insider Activity at Costco Wholesale

In other Costco Wholesale news, CEO Roland Michael Vachris sold 3,600 shares of the business’s stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $931.00, for a total transaction of $3,351,600.00. Following the completion of the sale, the chief executive officer now directly owns 41,077 shares of the company’s stock, valued at approximately $38,242,687. The trade was a 8.06 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.18% of the stock is currently owned by company insiders.

Costco Wholesale Stock Performance

Costco Wholesale stock opened at $903.92 on Monday. The stock has a 50-day simple moving average of $989.80 and a 200 day simple moving average of $944.86. The company has a quick ratio of 0.43, a current ratio of 0.98 and a debt-to-equity ratio of 0.23. Costco Wholesale Co. has a 12-month low of $697.27 and a 12-month high of $1,078.24. The stock has a market capitalization of $401.25 billion, a price-to-earnings ratio of 53.08, a P/E/G ratio of 6.15 and a beta of 0.82.

Costco Wholesale (NASDAQ:COST) last released its quarterly earnings results on Thursday, March 6th. The retailer reported $4.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.09 by ($0.07). Costco Wholesale had a net margin of 2.93% and a return on equity of 32.31%. The business had revenue of $63.72 billion during the quarter, compared to the consensus estimate of $63.02 billion. On average, research analysts anticipate that Costco Wholesale Co. will post 18.03 earnings per share for the current fiscal year.

Costco Wholesale Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 21st. Investors of record on Friday, February 7th were issued a $1.16 dividend. The ex-dividend date of this dividend was Friday, February 7th. This represents a $4.64 dividend on an annualized basis and a dividend yield of 0.51%. Costco Wholesale’s dividend payout ratio is 27.09%.

About Costco Wholesale

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.