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

1ST Source Bank lessened its holdings in Costco Wholesale Co. (NASDAQ:COST) by 0.2% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 12,184 shares of the retailer’s stock after selling 20 shares during the period. Costco Wholesale makes up approximately 0.6% of 1ST Source Bank’s portfolio, making the stock its 24th biggest holding. 1ST Source Bank’s holdings in Costco Wholesale were worth $10,801,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Fermata Advisors LLC grew its holdings in Costco Wholesale by 0.6% during the 3rd quarter. Fermata Advisors LLC now owns 1,968 shares of the retailer’s stock valued at $1,745,000 after buying an additional 11 shares in the last quarter. Sculati Wealth Management LLC grew its holdings 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 valued at $3,235,000 after purchasing an additional 11 shares in the last quarter. Peddock Capital Advisors LLC grew its holdings in shares of Costco Wholesale by 0.7% in the second quarter. Peddock Capital Advisors LLC now owns 1,786 shares of the retailer’s stock valued at $1,518,000 after purchasing an additional 12 shares in the last quarter. Perkins Coie Trust Co increased its position in Costco Wholesale by 0.3% in the third quarter. Perkins Coie Trust Co now owns 4,675 shares of the retailer’s stock worth $4,144,000 after purchasing an additional 12 shares during the last quarter. Finally, Firethorn Wealth Partners LLC raised its stake in Costco Wholesale by 3.5% during the third quarter. Firethorn Wealth Partners LLC now owns 358 shares of the retailer’s stock valued at $318,000 after purchasing an additional 12 shares in the last quarter. 68.48% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

COST has been the subject of a number of recent research reports. Telsey Advisory Group reissued an “outperform” rating and issued a $1,050.00 price objective on shares of Costco Wholesale in a research note on Friday. Raymond James lifted their price target on Costco Wholesale from $990.00 to $1,030.00 and gave the stock an “overweight” rating in a research report on Thursday. Morgan Stanley upped their price objective on Costco Wholesale from $950.00 to $1,150.00 and gave the company an “overweight” rating in a research report on Friday. Sanford C. Bernstein initiated coverage on Costco Wholesale in a research note on Tuesday, October 22nd. They issued an “outperform” rating and a $1,016.00 price objective for the company. Finally, Loop Capital boosted their target price on Costco Wholesale from $1,005.00 to $1,095.00 and gave the company a “buy” rating in a research report on Friday. Ten equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. Based on data from MarketBeat, Costco Wholesale currently has a consensus rating of “Moderate Buy” and an average price target of $981.86.

Insider Transactions at Costco Wholesale

In related news, EVP Russell D. Miller sold 4,400 shares of the stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $891.15, for a total value of $3,921,060.00. Following the transaction, the executive vice president now owns 10,202 shares in the company, valued at approximately $9,091,512.30. This represents a 30.13 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Claudine Adamo sold 3,200 shares of Costco Wholesale stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $888.99, for a total transaction of $2,844,768.00. Following the sale, the executive vice president now owns 8,630 shares of the company’s stock, valued at approximately $7,671,983.70. The trade was a 27.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 11,016 shares of company stock worth $9,826,115. Insiders own 0.18% of the company’s stock.

Costco Wholesale Stock Up 0.6 %

NASDAQ:COST traded up $6.18 during trading hours on Friday, reaching $994.57. The company’s stock had a trading volume of 1,322,442 shares, compared to its average volume of 1,921,905. The stock has a 50 day moving average price of $924.72 and a two-hundred day moving average price of $883.45. Costco Wholesale Co. has a 12 month low of $630.30 and a 12 month high of $1,007.80. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.44 and a current ratio of 0.97. The company has a market capitalization of $440.66 billion, a P/E ratio of 60.63, a price-to-earnings-growth ratio of 6.05 and a beta of 0.82.

Costco Wholesale (NASDAQ:COST) last announced its earnings results on Thursday, September 26th. The retailer reported $5.15 earnings per share for the quarter, beating the consensus estimate of $5.05 by $0.10. The company had revenue of $79.70 billion during the quarter, compared to the consensus estimate of $79.91 billion. Costco Wholesale had a net margin of 2.90% and a return on equity of 31.05%. Costco Wholesale’s revenue was up 1.0% compared to the same quarter last year. During the same period last year, the firm earned $4.86 earnings per share. Equities analysts predict that Costco Wholesale Co. will post 17.77 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 issued a $1.16 dividend. This represents a $4.64 annualized dividend and a yield of 0.47%. The ex-dividend date of this dividend was Friday, November 1st. Costco Wholesale’s dividend payout ratio is presently 28.00%.

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.