1ST Source Bank Sells 154 Shares of Costco Wholesale Co. (NASDAQ:COST)

1ST Source Bank reduced its stake in shares of Costco Wholesale Co. (NASDAQ:COSTFree Report) by 1.2% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 12,549 shares of the retailer’s stock after selling 154 shares during the quarter. 1ST Source Bank’s holdings in Costco Wholesale were worth $7,090,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Sanctuary Wealth Management L.L.C. bought a new stake in shares of Costco Wholesale during the 4th quarter valued at $26,000. Horizon Bancorp Inc. IN bought a new stake in shares of Costco Wholesale during the 2nd quarter valued at $38,000. Steph & Co. boosted its holdings in shares of Costco Wholesale by 42.3% during the 3rd quarter. Steph & Co. now owns 74 shares of the retailer’s stock valued at $42,000 after buying an additional 22 shares in the last quarter. Focused Wealth Management Inc boosted its stake in Costco Wholesale by 101.5% in the 2nd quarter. Focused Wealth Management Inc now owns 90 shares of the retailer’s stock worth $48,000 after purchasing an additional 6,000 shares in the last quarter. Finally, Iron Horse Wealth Management LLC boosted its stake in Costco Wholesale by 888.9% in the 3rd quarter. Iron Horse Wealth Management LLC now owns 89 shares of the retailer’s stock worth $50,000 after purchasing an additional 80 shares in the last quarter. 66.31% of the stock is owned by hedge funds and other institutional investors.

Costco Wholesale Trading Down 0.4 %

COST traded down $2.74 during trading on Monday, reaching $720.66. The company had a trading volume of 657,455 shares, compared to its average volume of 2,032,296. The stock has a market cap of $319.78 billion, a P/E ratio of 49.31, a PEG ratio of 5.11 and a beta of 0.77. The business has a 50 day simple moving average of $669.74 and a 200-day simple moving average of $599.99. Costco Wholesale Co. has a 52 week low of $465.33 and a 52 week high of $728.17. The company has a quick ratio of 0.60, a current ratio of 1.09 and a debt-to-equity ratio of 0.22.

Costco Wholesale (NASDAQ:COSTGet Free Report) last issued its quarterly earnings results on Thursday, December 14th. The retailer reported $3.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.41 by $0.07. Costco Wholesale had a return on equity of 27.44% and a net margin of 2.65%. The company had revenue of $57.80 billion during the quarter, compared to the consensus estimate of $57.79 billion. During the same period last year, the company earned $3.10 earnings per share. Costco Wholesale’s revenue was up 8.2% on a year-over-year basis. On average, equities analysts anticipate that Costco Wholesale Co. will post 15.66 EPS for the current fiscal year.

Costco Wholesale Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 16th. Stockholders of record on Friday, February 2nd will be paid a dividend of $1.02 per share. The ex-dividend date of this dividend is Thursday, February 1st. This represents a $4.08 annualized dividend and a dividend yield of 0.57%. Costco Wholesale’s dividend payout ratio is currently 27.81%.

Analyst Upgrades and Downgrades

COST has been the topic of a number of analyst reports. Stifel Nicolaus upped their price target on shares of Costco Wholesale from $615.00 to $675.00 and gave the stock a “buy” rating in a research note on Friday, December 15th. StockNews.com raised shares of Costco Wholesale from a “hold” rating to a “buy” rating in a research report on Saturday, January 13th. Tigress Financial increased their target price on shares of Costco Wholesale from $635.00 to $745.00 and gave the stock a “buy” rating in a report on Friday, December 29th. DA Davidson increased their target price on shares of Costco Wholesale from $570.00 to $600.00 and gave the stock a “neutral” rating in a report on Friday, December 15th. Finally, Truist Financial increased their target price on shares of Costco Wholesale from $693.00 to $741.00 and gave the stock a “buy” rating in a report on Thursday, December 21st. Seven investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $659.96.

Read Our Latest Stock Report on Costco Wholesale

Insider Activity

In other news, CFO Richard A. Galanti sold 1,112 shares of the firm’s stock in a transaction on Tuesday, December 19th. The stock was sold at an average price of $680.21, for a total transaction of $756,393.52. Following the transaction, the chief financial officer now owns 24,300 shares in the company, valued at $16,529,103. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CFO Richard A. Galanti sold 1,112 shares of the firm’s stock in a transaction dated Tuesday, December 19th. The stock was sold at an average price of $680.21, for a total transaction of $756,393.52. Following the sale, the chief financial officer now owns 24,300 shares of the company’s stock, valued at $16,529,103. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Daniel M. Hines sold 1,400 shares of the firm’s stock in a transaction dated Tuesday, January 9th. The shares were sold at an average price of $662.30, for a total value of $927,220.00. Following the sale, the insider now directly owns 13,922 shares in the company, valued at approximately $9,220,540.60. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 13,752 shares of company stock worth $9,377,669. Company insiders own 0.18% of the company’s stock.

About Costco Wholesale

(Free Report)

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.

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Institutional Ownership by Quarter for Costco Wholesale (NASDAQ:COST)

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